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Dallas, questions about VA loan with primelending

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studioguy
Established Member

Dallas, questions about VA loan with primelending

Hi Dallas,
 
     Im currently working with a LO from PrimeLending in Dallas, Tx and he has been great. My only concern is with the VA rate, I was told the current rate thru primelending is 6.75% but at navy federal credit union their rate is 6.25% no points paid and on the valoan website its sitting at 6.5%.  I have gone thru automated and not set to close until for another couple of months which is fine by me, hopefully the rate will fall by then.  Im just wondering why a higher rate then others? 
 
Now Im wondering, are you my loan officer? lol 
Message 1 of 6
5 REPLIES 5
DallasLoanGuy
Super Contributor

Re: Dallas, questions about VA loan with primelending



studioguy wrote:
Hi Dallas,
 
     Im currently working with a LO from PrimeLending in Dallas, Tx and he has been great. My only concern is with the VA rate, I was told the current rate thru primelending is 6.75% but at navy federal credit union their rate is 6.25% no points paid and on the valoan website its sitting at 6.5%.  I have gone thru automated and not set to close until for another couple of months which is fine by me, hopefully the rate will fall by then.  Im just wondering why a higher rate then others? 
 
Now Im wondering, are you my loan officer? lol 


Your PrimeLending loan officer is greedy. LOL
 
Quite simply, the loan officer can offer you a range of rates. The higher the rate, the more money they make on the loan. You can shop around and get quotes form different lenders and they will all most like fall in the range you have been quoted.
 
 
I just left PrimeLending. I had an awful experience there. So I doubt that I am your loan officer. HA
 
How did you end up with them?
 

 
Retired Lender
Message 2 of 6
studioguy
Established Member

Re: Dallas, questions about VA loan with primelending

I ended up with them by using Lending Tree, the LO from PrimeLending was one of the first to give me a call and after speaker with 2 others, he was the one who I felt most comfortable with.  The others didnt seem that familiar with VA loans.
 
 
Message 3 of 6
DallasLoanGuy
Super Contributor

Re: Dallas, questions about VA loan with primelending

I don't buy leads either.... so I am definately NOT the guy.
 
Shop around... you might find better.
 
What are the credit scores? And what is loan amount?
 
Retired Lender
Message 4 of 6
studioguy
Established Member

Re: Dallas, questions about VA loan with primelending

My Credit scores are 623 equifax, 624 experian, 652 transunion.  The loan amount Im after is 164,800 not including the va funding fee.  That price does not include the $2500.00 that put down to get the new construction started.
 
I did do some shopping around and found what seems to be a better deal.  With Ryland mortgage, 6.5% with no origination fee.
 
With Navy Federal Credit Union, the current rate is 6.25 with a origination or 6.5 without paying origination.
 
My credit was first ran back in April and now since Im going to see what others are offering it looks like my credit score will take another inquiry hit.
 
Sorry it has taken me so long to reply, its been a wild day at work and I'm still here.
Message 5 of 6
DallasLoanGuy
Super Contributor

Re: Dallas, questions about VA loan with primelending

6.5% + 1% = fair
 
good job!!
 
Retired Lender
Message 6 of 6
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