Getting a VA Mortgage Loan in Boerne, TX

Transcript

If you’re getting a VA loan in the Bernie area, you need to know what your rights are and how to maximize your eligibility. There is a common practice in lending where lenders move the margins up on veterans. This is something that is n I’m not proud of being in this industry, but also I’d like to show, share this information with you so you know how to stop this and how to spot a lender who’s making more money on veterans who served over regular people off the street.

How you can tell is look at the difference between their conventional rates and their VA rates. For example, today at $500,000, 20% down six 80 FICO score, my VA rates. Are almost 1.4 points lower in interest. So almost one and a half points lower in interest than a regular conventional loan. But when you talk to most lenders, they’re almost the same.

And you say, well, that doesn’t sound right. Why would yours be so different? I make the same on my VA loans as I do my conventional loans. So they move their margins up. What they do is they move that rate up to the area that a conventional. And they can double, triple, quadruple the margins on your VA loan.

Now you served, you did your time, you did what you were supposed to do for our country. I don’t think a lender has the right to take that away from you and make you pay a higher interest rate, which could come out to hundreds of thousands of dollars over 30 years just because they want to make more. So arm yourself with knowledge.

Look at my other videos. Hopefully this is helpful.