Before you choose a loan officer or head to your first appointment, here are some great questions to ask your loan officer on the phone, in person or even in an email. This is not an exhaustive list, but it’s a great place to start.
- How many VA loans have you done in the past? Do you offer the VA Loan option?
- How many loans have you closed in the last 6 months, how many were VA?
- How accessible are you? How should I reach out if I have questions?
- Do you have systems in place as my loan progresses? Should I expect email updates? Text alerts? Phone calls?
- How long does it take the VA Loan to close? How does this compare to other loan options?
- Do you have any special training or knowledge about the VA Loan?
- Do you help educate Realtors about the VA Loan? What is your strategy to help sellers of a home and their Realtor to accept offers using VA financing?
- Have you worked with an Active Duty Service Member before?
- Are you active in any aspect of the military community in a charitable aspect?
- Does your company prioritize new purchases over refinances?
- What kind of reviews do you have from your former clients?
- What kind of reputation does your company have in my market I am looking to buy in?
- What credit score do I need to secure a VA Loan?
- What kind of income will count towards my qualification? Will you consider enlistment bonuses, special language pay, BAH or other unique income like that?
- The mortgage market seems to shift often, how often should I check back for changes in programs, products and the market?
- Can you help me pull my COE – Certificate of Eligibility?
- How much will my total monthly payment be? What will my down payment be?
- Will a Disability Rating affect my loan rate or qualify me for any kinds of discounts?
- My PCS Date is XYZ, can you be sure we will close on time so I can show up to my duty station on time?
- Can I only use the VA Loan Entitlment once or can I use it more than once?
If you have more questions, don’t hesitate to ask your Loan Officer. “On our team here at VA the Fairway there are no stupid questions” Loan Officer Ethan Wilson NMLS # 156741 remarked recently. He continued, “We love to help serve our military clients, and answer any questions they have in full!”
To get your VA Loan process started, or to discuss your eligibility give us a call at (888) 301-3465 and one of our dedicated loan officers will walk you through the process from A to Z. You can also click here to see if you qualify. If you are still in online research mode, and not ready to contact us, that’s ok too! We have a no- pressure group on Facebook, where you can come ask all our questions, join that group here.