Need some info on VA Mortgage

[skyward80]

Last time I checked, USAA wasn't doing VA Loans. (Yeah, that surprised me too.) That bummed me out because they have great customer service and all my other stuff is with them.

I decided to go with CitiBank. I refinanced my student loans with them a few years ago. GREAT customer service and very military friendly. If I can't do business with USAA, I will pick them time and again.

Take it from me... AVOID WELLS FARGO. I've had bad experiences with them, and I've had family members and friends who've had bad experiences with them. In fact, the experiences were so bad, that I would rather pay a higher interest rate to another bank than do business with Wells Fargo ever again.

Did I mention you should AVOID WELLS FARGO?

Skyward80

 

[c17guy]

Last time I checked, USAA wasn't doing VA Loans. (Yeah, that surprised me too.) That bummed me out because they have great customer service and all my other stuff is with them.

I decided to go with CitiBank. I refinanced my student loans with them a few years ago. GREAT customer service and very military friendly. If I can't do business with USAA, I will pick them time and again.

Take it from me... AVOID WELLS FARGO. I've had bad experiences with them, and I've had family members and friends who've had bad experiences with them. In fact, the experiences were so bad, that I would rather pay a higher interest rate to another bank than do business with Wells Fargo ever again.

Did I mention you should AVOID WELLS FARGO?

Skyward80

I got a VA preapproval letter from USAA today. Not sure how long ago you checked...

 

[instructordude]

If you are an inactive member of the Civil Air Patrol can you get approved for a VA Loan??

 

[Oh-ryan]

If you are an inactive member of the Civil Air Patrol can you get approved for a VA Loan??

Come on ID. I expect better. You're not gonna get any bites with this kind of junk. Step your game up.

 

[Weasel Keeper]

I'm on my second VA mortgage and both are with Wells Fargo. No, I'm not promoting WF, but they've done okay by me so far. Actually the first VA loan was with WF (Norwest before WF bought them), the second was with a local bank who sold it to WF.

The biggest downfall for me was the usual gov't "hurry up and wait" crap! The first mortgage had an inspector who wrote the piss out of the house I was buying. All and all it was for the best and got it up to current code before I bought it though. My current loan, I was supposed to close around Halloween last year. After the VA kept coming back with petty things to do with inspections and paperwork I didn't close until Christmas eve 08! An example of petty red tape...I thought ahead and since it's a country house I ordered a water/well inspection from the state. The VA came back a few weeks later and said I HAD to have a COUNTY water inspection. Now wait a second...I had a STATE inspector! A few weeks later the VA came back and said my state inspector was okay since my county didn't have a water inspector. DOH! Hurry up and wait.

I think if I didn't still "own" my last house (hasn't sold yet) I would have gone FHA with 3% down. Could have saved a point (VA's interest rate is 1 point higher than non-VA). Silly rules say I can't have two FHAs at the same time..heh.

 

[bbwest]

there is only one good thing about a VA loan

Brother,
A VA loan is junk. I've bought 8 houses in the last 10 years, all through NFCU. A VA loan is great if you are broke and need to fund everything. The biggest negative is the VA funding fee - which has been 1 to 2 points in years past. That is money that comes out of your pocket either at the beginning or the end (when you sell) that pays for nothing.

I do not work for NFCU but I can tell you there is no better mortgage out there for military guys.

 

[CatfishVT9]

Just finished a VA refi with Navy Federal. Less than 30 days to complete. Outstanding service.

No VA Funding FEE either!! It's waived if you have 10 percent or more disability.:beer: