Using VA to build a new house and other questions

[echoecho]

Btw at the 750s fico level I would not worry too much on inquiry hits. Prior to my aping for the refi I went on cli spree on all of my 4 cc, my fav cc chase denied me and the three other did. My score only went down a couple points across the 3 cra. Chase and BOA did HP. They mailed me my credco score they were using and it was several points higher than prior to me aping. As I stated I think it's ok if you go mortgage shopping within two weeks. It just depends if your willing to send them your docs for pre approvals.

[Anonymous]

I just spoke with Mortgage lenders of America out of Kansas City. The broker pulled our credit an gave me the credit scores. My hubbys were 719,734,744. Mine suprised me a bit because they were all over the place (686,713,767). The broker said it would be better to only use my hubands because that 686 will bring down the scores and he wanted them to stay high for the best rates. I'm just waiting on an email from him so I can send back paystubs and all that good stuff. He complimented us as buyers! haha.. He said I should have pre approval today and I questioned him if he was sure he would have that today or was it just a pre qualify letter. Nope a pre approval. Now lets hope we get an awesome rate and low closing cost!!! 

[echoecho]

Good luck and let us know how it goes. Last refi they only used mine but we are both on the title. Both of us still had to sign on closing. Now after adding her as AU , she got better scores than me😋

[Anonymous]

I already receive a pre approval letter. They pre aproved us for 255375.00 @3.5%. Its a tad high than what nfcu said but I still haven't even heard from them. Ha! The best news is we don't even have to sale our house yet. It's not a condition for us closing the loan. 

[echoecho]

I think you should get loan estimates from those lenders. Compare them at your leisure and decide what is best for you guys. Would the builder be satisfied with that pre approval or another one is better??

[Anonymous]

Do you mean the GFE? I already asked about that too. I want make sure that it's not some crazy amount. NFCU already said our closing cost would be @9000.00. Our builder doesn't care who we finance with just as long as we get a Pre Approval letter and not a pre qualifaction letter. 

[echoecho]

They changed those acronyms last few years but yes. It's broken down more consumer friendly. Right side are mandatory stuff escrow etc etc. left side title, points, appraisal etc etc .

[Anonymous]

Ughhh... I was just looking over the letter again and it's a freaking pre qualifcation letter. He said he was going to send me a pre approval letter. I shot him off an email real quick to see when we can get the pre approval letter and that the builder only wants a pre approval and not a pre qualifcation letter. I totally got excited for nothing.

The broker got back to quickly and said that yes it is a pre approval letter. In the letter it does state that we are approved for the loan if our credit worthness doesn't change. I guess I'll run it through our builder and we'll see.

[Anonymous]

This is what he said about the fees. 

I do VA loans for veterans with no lender fees. (no origination fees and no discount fees) Every other fee or cost associated with your loan will be the same no matter what lender you chose.

[echoecho]

Yep that is what I was looking for. Penfed quoted me 3.25 and Nfcu 3.37 with usaa only having 90% refi.