Getting a VA Mortgage Loan in Leon Springs, TX
Transcript
Leon Springs, Texas. You’re looking for a mortgage loan, specifically a VA loan or even conventional. And you’ll sorry about the, the eight 10. I just loved the eight 10. It seems like all the servicemen due to so this was a good choice. It seems to be universally loved throughout all the own forces, and one of my buddies used to fly it, so I’m a little bit partial.
So if you’re looking to buy a, a house or refinance there’s a big difference in the profit margins placed on the veterans by lenders, and most lenders don’t see that they should get a much, much lower rate than a regular conventional loan. Most lenders just move that up and they absorb that margin, and then the veterans end up overpaying.
It looks good cause it’s lower than conventional loan, but it should be much lower. For example, a six 80 credit score. Today my VA loan was 1.4% lower in interest rate. So a 6.4% conventional loan. In that market, the VA should be 5%, but you don’t see this. Now, where does it go? Well, it goes in the lender’s pockets.
They make a lot of money. 2, 3, 4, 6, 5, 6% more in in profit. So on a 500,000 loan, they could make $25,000, $30,000. It’s a little bit much, and the problem is it’s targeting the veterans and the veterans earn that lower rate and they see that and they can’t help themselves. It’s almost like a, the lending industry in the US is almost like a U Giant used car lot, and they just see that money and they just, Take it from the client.
And we don’t do that. So I’m not saying we’re great or we’re the best. We’re saving the world. All we are is normal, making the same money on a VA loan as a conventional loan. And we look better. We do look great. We look amazing, but only because the other people steal from the veterans. And if you Google, you know, overcharging veterans, you’ll see a long list of lenders that have done this.
They paid. Multimillion dollar, hundreds of millions of dollars in fines. They see, they still do it cuz it’s quite profitable. It’s unfortunate. But if, yeah, if you’re buying a house and in this Bernie San Antonio area Leon Springs, B Verde far Oaks Ranch, give us a call and we can make sure you get a good deal.
