Choosing a VA lender for a home purchase or refinance can be a tedious task for most borrowers. In fact,
Veteran Home Financing. Purchase, Refinance, and more!
most people don’t know where to start when it comes to finding a lender to consult with about borrowing and will settle for the first person they speak with. However, it is certainly possible to find the best VA loan available by turning to online resources.
With today’s technology, there is no longer the need to physically go to a brick and mortar mortgage branch or local bank to apply for a VA loan. Most lenders have online websites that can be used for submitting an application. This eliminates the time and energy spent going door to door to meet with a representative of the lender or to submit documents. Everything from start to finish can be done from the convenience of your home and at whatever time you choose to do it.
Since using the internet for a VA loan is no longer uncommon, the results of utilizing a National Lender who has an internet presence can be as good or better than using a local lender. A local lender is often limited to what mortgage products and rates they can offer you which means you may not be getting the best VA loan deal available. National lenders who utilize a correspondent channel (wholesale) for loans are able to offer lower rates and costs than those offered by walk-in retail branches. A National lender that is also a bank that has correspondent ties brings the best of both worlds to a VA borrower; it is similar to going to a broker who has multiple lenders to choose from along with getting the service and backing of a National bank.
When using a National lender for a VA home purchase or VA refinance, it is important that you research reviews and testimonies that have been written about the lender and the individual loan officer. Checking the Better Business Bureau and other reputable outlets for the VA lender’s reputation is another option.
Many people think that there is total anonymity when not opting for a walk-in lender or that a VA home purchase loan must be done locally. This is far from the truth since choosing a National lender who has an online presence does not mean that you will never speak with your loan officer. You will definitely be speaking with your VA loan officer throughout the process. In fact, a VA loan through a National lender will most likely have a loan officer whose expertise is specifically with VA loans. This will make the process easier for you since they will be very knowledgeable of the VA loan guidelines and the best mortgage possibilities available to you. In addition, while you may think that a local lender will choose a local appraiser, it is important to know that the VA lending portal actually appoints the VA approved appraiser. Under no circumstances can the lender choose the appraiser for a VA loan.
Time is important to all of us and the mortgage process can be time consuming. In today’s age we are able to eliminate the time it takes to shop for a lender since everything can be done online and through phone calls with a reputable National lender. You will be able to send documents at your convenience even if it means during the middle of the night. Using a National lender with correspondent channels will provide you with the very best VA loan options available, as well as, very competitive VA mortgage rates that are usually not available through your local bank or someone’s local affiliation. Since your VA loan is a long term commitment, it is best to shop around further than your local area to find what is being offered and what is best for your financial situation.
Want to compare a National VA lender for your next VA home purchase or VA refinance? Or need assistance filling out a VA loan application? Feel free at any time to contact me for more information about a VA loan and how you can achieve a 100% VA home purchase or VA refinance.
My loan process was very easy and quick. Not to mention a great loan rate. I couldn't be happier!
Capt Sam T. - US Army
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