Buying a home is probably the most significant purchase you’ll ever make. Since this is no small transaction, having the right mortgage company can make all the difference.
Just as you assess the quality of a loan, you have to assess the quality of the company who helps you. Not all VA mortgage companies are likely to give you good service and good advice. Here are some of the most important criteria in assessing whether or not you should use a given company.
The VA mortgage companies you consider should have a stellar reputations in terms of customer service. It’s important, however, to understand what customer service really means in the context of working with one of these professionals.
First, it means being available. If you find yourself calling repeatedly and never getting reply back, be sure you consider whether or not you should be working with them at all. If their customer service is bad from the start, you’re likely not going to see much in the way of improvement as time goes on.
Be sure to see whether the person helping you is available by other means, as well. At the very least, you should have an office phone, and an email address that they respond to frequently. If they are willing to provide a cell phone number this is another sign they will give you great customer service.
When you’re dealing with a VA mortgage company who is helping you with your home loan, it’s not a time to rely on someone who is anything less than honest. Unfortunately, due to the complexity of the mortgage lending process and the complexity of finances in general, it’s sometimes hard to tell whether someone’s being straight with you.
Look for a company that works hard to help you understand all the numbers and finances, to try and make it less complex and confusing. Watch out for situations where you’re told one thing and whatever you’re told suddenly changes without any discernible reason. If fees are added without an explanation or if you just get the feeling that you could do better, remember that you’re not under any obligation to work with any one company, even if you start out with them. You can go to another company to get a second opinion like you would with any other major life decision.
Follow your instincts in this regard. If you get the feeling that they don’t know what they are talking about, get a second opinion.
Just like with any other home loan there is a lot of paperwork involved with a VA loan. This is a great way to see what kind of company you are dealing with, pay attention to how organized they keep all the paperwork. One of the hallmarks of a good VA mortgage company is how they organize and deal with paperwork.
They should never be hunting around for lost documents and asking you for things at the last minute that they should have known you’d need early on. Sloppy performance is not the mark of a good mortgage company. Be sure yours is organized. The best ones will give you copies of everything relevant and make sure you understand what each document is and why its important. They rely on helping customers make smart decisions, not on railroading customers into the most profitable decisions for the company itself.
If you’re getting a VA loan, you may have fellow veteran friends who have worked with a VA mortgage company that you’re interested in. They might be able to give you good information about the quality of the service they received from them and how well their loan worked out in the end. This information in many cases is also available online. Testimonials can be very powerful endorsements. In some cases, the fact that someone simply liked working with the mortgage company you’re considering can mean a lot. It might seem rather nonspecific, but sometimes people like professionals because of the level of service that they get.
Experience does count for a lot with mortgage companies. Particularly where VA Loans are concerned, there’s a lot to know and, the more a VA mortgage company knows, the easier the process of getting funding will be. Experienced companies will also be better equipped to handle any “out-of-the-ordinary” situations.
When you feel like your time is respected and the company really wants to make the deal work for you, you’ll know you’ve found the right VA mortgage company to work with. They should be more than willing to disclose any pertinent information about the loan and the best companies go out of their way to make sure you understand everything going on with your loan. When they do, they can take a home purchase and turn it into a surprisingly streamlined and easy to handle affair that ends with you getting the most for your money and the home that you want.
Call Us and see the benefits that come from working with a company that specializes in VA home loans. Our experienced loan officers will help you understand the VA loan process every step of the way.