A 3-Step Guide to Choosing the Right VA Mortgage Lender

Selecting a VA mortgage lender is a major decision that requires careful evaluation, as they will be your trusted financial partner for many years. You don’t want to get a 30-year mortgage from a company that provides poor service to you and your family.

It may feel like an overwhelming decision – but it doesn't have to be. Use this guide focused on customer care, lender expertise, and fee structure to pick a lending partner who will respect your service and support your unique needs.

1. Check Customer Reviews

Candid feedback from real customers reveals who is deeply committed to serving Veterans and can back it up with consistent, top service – versus who might be able to show a few positive reviews on their website but hasn’t been able to really impress a large number of customers.

• Start by reading through online reviews and checking rating sites like Trustpilot to understand real VA borrowers’ experiences.
  

• Look for lenders that have overwhelmingly positive reputations across a high volume of reviews over many years. This indicates they have consistently satisfied customers time and time again.
  

• Watch out for any concerning complaints mentioning issues like communication gaps, hidden fees, delays, unresponsive staff, or other problems. You want to find a lender that will make you feel valued by providing white-glove service.

Customer reviews offer proof of great service versus the claims you may read on a lender’s website. Claims about great service are easy to make, but consistent rave reviews from real VA borrowers on a third-party review site like Trustpilot have to be earned.

2. Seek Expertise in Your Specific Loan Program

It’s vital that your chosen lender has deep expertise within the particular loan program you are interested in. Different mortgage programs have unique eligibility criteria, terms, benefits, and potential drawbacks.

For example, Veterans pursuing a VA loan should select a lender who is thoroughly experienced with VA loans. Their familiarity with VA guidelines and loan requirements will greatly benefit you throughout the process.

The same goes if you are interested in a specific niche program like the FHA 203(k) renovation loan, ensure your lender is well-versed in that area. The bottom line for any type of loan is that you need to seek out a lender with specialized experience.

Here at NewDay USA, our focus is on helping eligible Veterans utilize their VA loan benefit. Our dedicated Account Executives are equipped to answer all your tricky questions about the VA loan application process and assist you every step of the way.

3. Take a Close Look at Upfront Fees

Your hard-earned money deserves respect. Some lenders nickel-and-dime you with fees before even approving your loan. A little bit here and a little bit there really adds up and can make the loan research and application process costly – something that many Americans cannot afford.

When evaluating lenders, pay close attention to their upfront fee practices and how that impacts you financially.

Some lenders charge various upfront fees for things like application, document preparation, and underwriting, that take money from your pocket even if the loan doesn’t get approved.

Look for a lender that doesn’t charge upfront costs during the initial loan exploration stages, one that makes its profits through standard closing costs, which are only paid if you are approved and close on the loan. This alignment of interests shows that the lender prioritizes what is best for you, the borrower.

In Summary

When finding a lender, take the time to evaluate customer reviews, seek specialized expertise in your loan program, and look for upfront fee practices that won’t reach deep into your wallet.

Remember, your lender will be your trusted advisor and partner not only during a very important time in your life, such as a home purchase or refinance, but also for many years to come as you pay down your loan. Making the effort to select the right lender is well worth it.

Ready to find the perfect VA mortgage lender who will support you every step of the way?

Take advantage of NewDay USA’s commitment to exceptional customer service, extensive expertise in VA loans, and upfront fee practices that prioritize your best interests. Contact us today by calling 877-586-0470 or inquiring online, and discover why tens of thousands of Veterans have chosen NewDay USA.

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