In Home Loans

Active duty soldier lifting up his daughter in his arms

More than 21 million veterans and service members live in the U.S., but roughly only six percent of them who bought homes in the past five years did so by taking advantage of the substantial benefits offered through a U.S. Department of Veterans Affairs (VA) home loan. PrimeLending is looking to help change that by waiving the lender fees on all VA loans for customers.

“Our military men and women sacrifice so much to serve our nation,” said Sabrina Schmitt (NMLS: 490033), a United States Air Force Veteran and Production Manager for PrimeLending in Redding, California. “The VA home loan is a great way of helping our veterans establish credit and become homeowners, made even more accessible when coupled with the PrimeLending no lender fees program*.”

The VA home loan is the only loan program broadly available that enables the borrower zero down payment and no monthly mortgage insurance. In addition, ‘make-sense’ underwriting, reasonable credit and income requirements and very low interest rates make VA loans a popular program among veterans and active members of the military, many of whom might otherwise struggle to secure home financing.

As one of the top 10 purchase mortgage lenders in the country, PrimeLending has processed thousands of VA loans over the years. However, the company recognized that the statistically low utilization rate of VA loans relative to the number of homes being purchased meant there was an opportunity to do more to help military families take advantage of their VA benefits.

“Many qualifying veterans and surviving spouses don’t take advantage of the VA home loan program for a number of reasons—they may not be aware of all of the advantages, they’re under the impression that it’s an overly complicated process, or we could be doing more as lenders to educate veterans on the program,” said Schmitt. “The truth is, like all military processes, there is a lot of red tape that experienced VA lenders can help borrowers navigate.”

This past January, PrimeLending launched the “Watching Your Six – No Lender Fees” VA home loan program in an effort to increase awareness of VA home loan benefits for buyers. By taking the unique step of waiving the lender fees on all VA loans, adding yet another benefit to the program, the company is calling attention to the fact that military members have access to one of the most financially advantageous and flexible home purchasing programs on the market. Additionally, borrowers benefit from working with PrimeLending’s experienced VA lenders who know how to successfully navigate the VA loan process and provide a seamless, transparent experience from start to finish.

“It was an honor to serve our country as a member of the Air Force, and it’s a privilege to provide an ongoing service to fellow service men and women and support their journey to becoming new or even more successful homeowners,” said Schmitt.

If you are looking for a VA home loan, then PrimeLending can help you. To learn more, please contact a PrimeLending home loan expert near you.

*All lender closing costs such as origination, processing, underwriting, and closing will be waived, borrower is still responsible for third party fees such as VA funding fee, title, and appraisal etc. Down payment waiver is based on VA eligibility. This offer is valid 2/1/2017 – 6/30/2019. Savings only applies to direct originations made by PrimeLending for first mortgage purchase or refinance transactions, and is not available on loans obtained through mortgage brokers. Only one offer per loan transaction is available, and savings cannot be combined with any other offer. Savings will reflect on Closing Disclosure at closing. Borrower must lock their loan before 6/30/2019.

All loans subject to credit approval. Rates and fees subject to change. Mortgage financing provided by PrimeLending, a PlainsCapital Company. Equal Housing Lender. ©2017 PrimeLending, a PlainsCapital Company (NMLS: 13649).

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