I went with USAA in part because many/most other VA lenders pile on a bunch of non-allowable seller-paid junk fees … and of course asking for seller concessions will consign your offer to the shredders these days. But VA non-allowables are a subject for another rant 🙂
If you know of any other VA programs without a bunch of non-allowables please let the world know. Thanks HLS.[/quote]
I just started a VA purchase loan with USAA three days ago. We’ll see how it goes. I think USAA recently switched their mortgage division to in-house as it seem they’ve become more competitive in terms of rates and fees. I also called navy federal and spoke with a VA mortgage broker. Navy Federal was upfront about the fees and rate but usaa beat them in both depts. I couldn’t nail down the mortgage broker on fees and he was not willing to provide me with a GFE until I essentially had committed to using him. I know on top of the 1% origination fee he also wanted to charge me a $900 processing fee and another $900 transaction fee, and a few other fees for a few hundred each before even getting to discount points for the loan. I maybe should have talked to other mortgage brokers but usaa seemed to have a decent enough deal.
For me VA seemed like a no-brainer as I do not have to pay the funding fee, my loan is for over 417k and I want to finance as much as they’ll let me.
