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## Using VU for My Loan

I was initially using VU for my loan but was connected to a local lender due to a program for lower rates (5.7x). The VU rep is trying to get that rate matched so they can still have my business. I don’t pay for points on local lender, waiting to get that counter from VU.

## Deciding on the Best Option for My First Home Purchase

Not sure what to do this is my first home purchase. I was initially using VU for my loan but was connected to a local lender due to a program for lower rates (5.7x). The VU rep is trying to get that rate matched so they can still have my business. I don’t pay for points on local lender, waiting to get that counter from VU.

## How AI Legalese Decoder can Help with the Situation

If you are feeling overwhelmed by the legal jargon and complex terms involved in loan agreements and negotiations, AI Legalese Decoder can be a valuable tool to help you understand the process better. By using this AI technology, you can input the loan documents or communication exchanges with the lenders and receive simplified, easy-to-understand explanations of the terms and conditions. This can empower you to make more informed decisions regarding your loan options and negotiations, ensuring that you are getting the best possible deal for your first home purchase.

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10 Comments

  • LoanSlinger

    Not even taking into account price, the local lender is almost certainly going to be more available, better with communication, fast to close, and will have a better reputation with the sellers’ agents, who gate keep offers a bit and will often tell discourage their clients from taking a VA-backed offer when it’s a ender like Veterans United involved. There’s more to this decision that interest rate/closing costs; you’re going to want RELIABILITY in a purchase transaction where there’s a contract with deadlines in the balance. Always skip the call centers in favor of a strong local lender (whether your local lender is strong or not isn’t known at this point). Average VA rates without points are decently above 6%, so you’ll want to be sure the rate you’re being quoted is legit and doesn’t come with a big origination fee (the broker might say you’re not paying points, but are you paying 1%, the max buyer paid comp for brokers, to him/her for the loan?).

  • Realtormegan808

    Local lender always. Anytime I have a client working with a box company, like VU, the transaction is always more difficult, and generally the client doesn’t get the same level of explanation and assistance throughout that they do with a local lender.
    Also, Veterans United is just a mortgage company that uses the word veteran in the company name. They’re not affiliated with anything related to the department of veteran affairs, or any other veteran affiliation.

  • PickleWineBrine

    A local lender

  • teflon16

    Generally I would say a local lender, however I just did a VA assumption with VU (had to use them since we were assuming the previous loan) and had a phenomenal experience. I wouldn’t hesitate to use them at all if it makes sense with the rates/fees.

  • TyKC03

    Stay away from Veterans United. Their rates are not competitive

  • advnps47

    When shopping a lender, their quality of service could be even more important a small rate difference.

  • Administrative-End27

    Trident Home Loans! Use Marty! He will hook you up super honest and professional and will easily tell you to take a different offer from someone else if they beat his deal. Check em out

  • SBrookbank

    veterans united is trash bin

  • Lostcoast2002

    Go with the local lender. My house just closed earlier this week and I didn’t take the highest offer because they were using a VU loan. My realtor has seen VU time and time again fail to meet deadlines and cause transactions to fall thru. The family that I ended up selling to used a local lender who was on top of everything and provided excellent service. I would use them myself if I was sticking around in the area.