How to Compare VA Home Loan Lenders Near You

For qualified veterans and active military members looking to buy a house, a VA home loan is a wonderful choice. Though the number of lenders that offer this unique type of loan isn’t as high as those that provide traditional mortgages, you still need to shop around. This means you’re likely searching the internet for tips on “how to compare VA home loan lenders near me.” We’ve got you covered. Here’s what you need to do to make sure you get the best deal.

Know Your Preferred Loan Type

The first thing you need to do when comparing VA home loan lenders near you is to figure out what type of loan you want. Do you want a 15-year mortgage with a fixed interest rate or are you wanting the smaller payments that a 30-year loan will provide? Once you know this, get quotes for that specific type of loan from different lenders.

Pay Attention to the Fees

With a traditional mortgage, your main concern will be the interest rate on the loan. But when you’re comparing VA home loans, you also need to look at the fees each lender charges. Some simply charge more than others and those fees can increase your monthly payments significantly. Make sure you’re comfortable with the fees as well as the loan amount and overall interest rate you’ll have to pay.

Don’t Get Hyper-Local

It’s always a good idea to get quotes from VA home loan lenders near you, but you don’t have to limit your search to local lenders. You can always shop around online. Just make sure to request quotes for the same type of loan and go through those quotes in detail. If you have any questions about the quote, ask your loan broker.

Pay Attention to the Reviews

Though it’s important to pay attention to the terms of each loan, you should also consider the reviews for every lender you’re considering working with. If most people are happy with their services, you can expect a similar experience.