Since Low VA Rates is itself a VA lender, this article might seem a bit self-serving, but in reality this is a question that every borrower should ask themselves. While Low VA Rates certainly fits all the criteria in this article, we’re hardly the only lender that does. We would love it for you to choose us, but above all we want you to choose a lender that is going to do right by you, so if you don’t pick us, hopefully you’ll at least pick a good VA lender. So what makes a good VA lender? A good VA lender is experienced, passionate and offers the VA loan program as the VA intended it to be offered.
The VA loan program is a lot different on the back-end from the conventional or FHA loan program, and you don’t want a loan officer’s first rodeo to be your loan. You want a lender who has been doing this for enough years that they know all the ins and outs of the program and can foresee problems before they happen. It also helps when the lender specializes in VA loans, because they are much more likely to be caught up and current on any changes in the program, and will have an acute understanding of how to do the type of loan you’re wanting. Experience and knowledge also allow them to make recommendations to you on what loan option has the features you’re specifically looking for at the best rate. Experience makes a huge difference. Low VA Rates has a wealth of experience specializing in VA loans.
Passion is just as important as experience when it comes to finding a good VA lender. Why? Because the VA loan program isn’t just “business” – it’s about helping veterans find the housing they need at better terms than they can get elsewhere. It’s about serving those who have served us. A passionate VA lender can make all the difference in both the experience of getting a VA loan and the long-term consequences of doing so. A passionate lender cares about each applicant and prioritizes getting that applicant the best option available to them rather than which option puts the most cash in their own pocket. A passionate lender keeps better track of your loan and its progress and puts more of their own sweat into getting your application ready for underwriting. A passionate lender gets creative and goes to bat for you to help you qualify for the loan you need. Look for a lender who has a record of being passionate.
Offers the VA Loan Program the VA Intended
The VA loan program has a lot of leniency built-in for lenders to do things in a way that works best for them. The problem with these differences in ways of doing things is that they often make the loan program less advantageous to the borrower. While there are some things the VA doesn’t specify a preference on, the best VA lenders take the VA loan program and offer it as close to as-is as they can. This gives the most advantage to the borrower and makes the VA loan program as beneficial to them as it is supposed to be. This may be one of the more difficult things for you to ascertain about a lender beforehand, but you can do so by educating yourself about the VA loan program by reading our articles on the VA Lender’s Handbook, or if you have a stomach for dry material you can read the Handbook itself. Once you know how the VA recommends the program be run, you can compare it with what the lender is telling you.
So there you have it. You want to find a lender that is experienced, passionate, and offers VA loans the way the VA wants them to be offered. Those are the qualities that make up a good VA lender, and you definitely want a good VA lender to be working on your loan. If you have any questions about the VA loan program, feel free to contact us via our website or by calling our offices. We’ll happily answer your questions.