Because Indigo Mortgage has the VA Mortgage Loan Center, many veterans over the years have come to trust us in offering them both ethical and honorable deals. Like other consumers, veterans should shop their mortgages around to find the best rates and lowest fees. When we see an offer for a VA home loan from the “Pocket” sounding lender or one that is supposed to Unite Veterans, we ultimately find that these lenders often take total advantage of the veterans.
Surely, the mortgage loans they provide are not a way to honor the veterans’ service. Lately, we’ve seen offers from both these lenders– particularly from that “Veterans Divided” sounding lender– with rates half a percent to a full percent higher than our rate or with many thousands of dollars more in closing costs. Over the life of the mortgage loan, veterans who finance a home with them will pay thousands and thousands of dollars more.
We had one veteran where that “Veteran Divided” sounding lender was charging the veteran $8,000 just to buy down points and their total closing costs were $14,000 on a purchase loan. We told the veteran that we don’t know how those loan officers can sleep at night.
So we encourage veterans to steer clear of either of these lenders offering VA loans and to always shop your mortgage. When you do, shop with a trusted local mortgage company like Indigo Mortgage. We’ve been serving veterans in their home purchases and refinances since 2003 and are one of the largest brokers for VA mortgages in the southwest.