What Should I Look For in a VA Mortgage Specialist?

Seeking the right specialist for your VA mortgage can mean the difference between a smooth and informed process and one filled with obstacles. If you’re a veteran stepping into the home-buying world, here’s a detailed guide on what to expect and demand from a VA mortgage specialist.

  1. An Expert’s Touch:

Your mortgage specialist should be well-versed in the intricate workings of the VA home loan benefit and able to guide you seamlessly from loan origination to the closing process.

  1. Transparent Communication:

Yes, and Yes! Your VA mortgage specialist must consistently communicate, updating you at every turn.

  1. Safeguarding Your Personal Information:

In today’s digital era, information security is paramount. Ensure your mortgage specialist employs robust security measures, both online and offline, to protect your sensitive data.

  1. Timeframe Expectations:

Preferably, your mortgage specialist should have a proven track record of closing multiple loans. In bustling lending markets, anticipate your loan to close and fund within 30 days, barring exceptional circumstances.

  1. Clarifying the Fine Print:

Your VA mortgage loan will have various facets:

  • Immutable Costs: Some expenses, like the VA funding fee, remain constant regardless of the lender.
  • Variable Costs: Closing costs, origination charges, and points can differ.

Your specialist should succinctly elucidate the pros and cons of your loan, aiding you in making an informed decision.

  1. Profiling Lenders and Loan Products:

Your specialist should discern which lenders and loan products align perfectly with your credit and income profile. It’s worth noting:

  • Most VA lenders mandate a credit score of 620-640 for competitive rates.
  • Refinancing options are available for scores as low as 520-550, albeit with higher interest rates.

When exploring VA refinance loans like IRRRL, the primary focus remains on saving money for the veteran. An advantageous loan scenario can prevail even if the debt-to-income ratios exceed typical standards.

At California Platinum Loans, our VA loan specialists prioritize your unique needs, ensuring a smooth and supportive journey toward securing your dream home. Determined to present you with the best-suited VA home mortgage options, we’re eager to guide you every step of the way. Ready to leap? Reach out and discover how to get started.