VA lenders?

[Anonymous]

Does anyone knows of some good lenders for a VA loan? that will work with people with BK and a score range from 600-625?

[Anonymous]

From my experience, I just opened the phone book and looked for lenders who indicated specifically that they have VA experience. I then called them up and interviewed them. I found that if you just call some ordinary Joe Schmo lender, they usually haven't had VA lending experience- that would send me red flags since VA is a bit more complex. Try that first!

[Anonymous]

Would bank of america or wachovia does a major lender will it be good? i tried the credit union but i am comparing rates and they pretty much all have the same rates or will small lender companies be easier to qualify?

[Anonymous]

VA and FHA loans are all the same rate. They are not credit based. They just need to make sure you can make the payments.

Now that you have located some lenders, what I did next was to interview them. One of the most important things (to me) I made sure to ask was their origination fee. Some places quoted me 1% of the loan amt. Some offer less such as .5%.  Remember that origination fees are negotiable.

I was able to talk my lender down to a .75% origination fee even though they don't offer discounts but given that they knew I was serious and had my info, the ball was on my court. By the .25% off of the 1% origination fee, I was able to save about $1000. Not too shabby.