Why Finding a LOCAL Lender Online Matters Now More Than Ever

Finding a mortgage lender online is honestly very easy, but is this the right way to find a local mortgage expert? The short answer is, yes it can be. Before we continue, heed the warning, most people end up on a wild goose chase trying to find a credible company to help them with one of their most important financial transactions of their lifetime. In this article we will help you solve that problem.

If you live in Chula Vista, there are well vetted, reputable VA mortgage experts available to help you make the most of your VA home purchase, VA Cash Out Refinance, or VA Interest Rate Reduction Refinance Loan (“VA IRRRL”). In this article we will discuss the top 5 things to consider when searching online and then choosing a VA loan expert in your city.

1. Expertise. In all major facets of our life we consult “experts” when we make big time decisions. Whether its our doctor, lawyer, clergy, or financial planner, we rely on professionals who know their specialty better than all their competition. The same holds true when it comes to working with a VA mortgage expert in Chula Vista. You may be able to find many options online, but the focus on the VA home loan benefit is where you want to concentrate your focus. It is to your advantage to work with a team who operates the majority of their time in this space, knows this product back and forth, and can help you get the most from your VA purchase or VA refinance.

2. Years of Experience. How long have these “experts” been specializing in the VA home loan program. For example, here at Mortgage Heroes we bring more than 16 years of mortgage experience to the table where more than 90% of our homes financed used the VA home loan product: VA home purchase, VA Cash Out Refinance, or VA Interest Rate Reduction Refinance Loan (“VA IRRRL”). This matters because we stay at the sharp end of the spear while also having sage wisdom and advice that can make the most positive impact when financing your home in Chula Vista.

3. Depth of knowledge. Consider we were having a conversation about filing your personal or business tax return. Would you want to hire a tax expert with a little bit of knowledge about your tax scenario, or an expert who has great depth of how to best complete your tax obligations while not overexposing you in the process? We hope you answered the latter. The same goes for your local VA mortgage expert. Only a team with depth of knowledge of the VA home loan can help you maximize the VA programs benefits. Over the course of time, we have had many referrals from past clients, realtors, and even other lenders who simply do too few VA loans to help out the homeowners’ specific needs. Lastly, how can you get the most out of a program from a team who lacks the familiarity with the expanse of a program? The answer is, you can’t.

4. Thoroughness. Not all loans are created equal. The VA home purchase, VA Cash Out Refinance, and VA Interest Rate Reduction Refinance Loan (“VA IRRRL”) each have their own guidelines and conditions that need to be met. Yes, that even pertains at the local level as well. Chula Vista is just one example of a city which possesses av variety of property types (detached, attached, condo, multi-unit, etc…) vs. a more rural area that may only have one property type. It seems hyper specific; however, details of this specificity matter in the world of underwriting and VA financing. A local VA mortgage expert who is thorough gives you the upper hand of maximizing the financing scenario you are in.

5. Timeliness. You’ve probably heard the term “Under promise, over deliver.” There’s great truth to that when it comes to timeliness, because lenders on the internet are notorious for making wild claims about how fast them can close. Consider the number of people involved in a VA Purchase: escrow company, title, listing agent, buyer’s agent, property insurance company, appraiser, home inspector, termite company, repair specialists, home warranty…and the list goes on. That’s a lot of moving parts to fit inside a tight time frame, but a well-oiled machine minimizes the gears from getting jammed up and staling out your home loan process. Keep that in mind when you come across some fancy ad that’s promising a timeframe that might sound a bit too good to be true.

*Additionally, a local VA mortgage expert typically has the closest proximity to the third party professionals you are reliant on in order to conduct a smooth transaction. Especially in the case of a VA Cash Out Refinance, and VA Interest Rate Reduction Refinance Loan (“VA IRRRL”), having personal relationships with the third-party professionals listed above helps to expedite the home loan closing process.

Why didn’t you discuss rate & fees as important factors when considering a VA mortgage expert in my area?

There is a pretty exhaustive answer to this which relates to type of bank, how they earn their sales revenue, whether they have physical office space or operate online only…just to name a few. In short, financing your mortgage is not like driving to the next nearest gas station to save $0.05 cents a gallon. The considerations above are the primary factors to ensuring your mortgage is planned with the utmost care and consideration while finish your financing in a timely fashion. Afterall, EVERY BANK makes money. So if that’s true, shouldn’t you work with a local team of experts when it comes to your most valuable physical asset, your home? We think so.

If you would like to speak with our team about your home loan questions, please complete the form below. You can also start your loan application online by APPLYING NOW.

Rates & Fees Disclosure:
^‡ The payment on a $300,000 30-year fixed-rate VA loan at 3.000% with a 80% loan-to-value ratio is $1,292.01 with 0 (zero) origination points due at closing. The annual percentage rate (APR) is 3.235%. Payment does not include tax and insurance premium impounds. The actual payment amount will be greater. By refinancing your existing loan, the total finance charges may be higher over the life of the loan. Some state and county maximum loan amount restrictions may apply. Appraisal fee of $600, Processing Fee of $895, Underwriting Fee of $795 included in APR calculations with borrower paying 0 (zero) loan origination points.

^‡ Based on Mortgage Heroes internal data.