The Texas Veterans Land Board is a terrific and under used source for veterans.

A good mortgage broker or banker should be able to offer you several options and assist you in understanding and chosing the best option for you. Many people prefer to work with someone with whom they can sit down face-to-face and who will be with them at the closing table to make sure everything goes smoothly.

It should not have effected your credit score if the two people pulled your credit within less than 30 days of each other. When your credit is being looked at for a home loan, the 3 credit agencies see that they are similar inquiries and do not reduced your credit score unless there is an actual denial or approval for a mortgage. HOWEVER, if someone looks at your score on the 31st day after the credit report has been pulled it WILL change it.
I just found that out about one month ago from a local lender.

Going for a VA loan is certainly one of the best options out there when you are eligible. You are not however guaranteed a loan. You still must qualify and meet the lender and VA requirements. That being said, it is a good idea to shop lenders. The lender who pulled your credit, should have given you your credit report and scores. You can take that to other lenders and they can use that information without pulling your credit again. Another thing is to let them know that you are shopping them. A little competition is a good thing. I recommend talking to 3 or 4 different lenders. Good Luck

You asked "are we guaranteed a loan?" The answer is "no", you still have to qualify for the loan. I'm providing a link to a VA Pamphlet that will answer most of your questions and explain how the VA loan program works, what it can and cannot do for you.

Credit score is only one factor in qualifying for a loan, what's on your credit report can also affect the interest rate you'll be offered. Often what's on the report can cause more harm then the scores themselves. The good news is that most lenders will work with you free of charge to help you overcome issues on your report or low scores and help put you in a position to qualify for a better rate within as little as 6 months. If you are concerned about having your credit pulled multiple times you may want to interview other lenders until you feel comfortable enough with one to allow them to pull your credit reports. Or, you may want to purchase your reports yourself online (there are sites with costs of about $12 per report to obtain the full report and score from each of the 3 main credit bureaus). Other benefits of purchasing your reports online is that many sites offer the ability to dispute and correct discrepancies online too.

Similar to what other posters have replied, its true that those in the Real Estate Profession often have trusted contacts and can help you find a reputable lender with strong references. If I can be of further assistance to you please let me know.

Shannon,

Some lenders and real estate professionals have relationships with one another because they know and trust the others ability to make things happen and provide each others clients with the best available service.

I am not sure what you mean by "Pet" lenders.....I have mutually beneficial relationships based on my ability and the realtors I work with abilities to provide our clients with the best service possible.

My "pet" realtors don't push people into houses they can't afford and I don't push my clients into loans they can't afford.

I don't know if it was your intention but your post came off as an attempt to get a new client by bashing others in the field. I have never found that to be a good business practice. There are thousands of professional realtors out there and some are as good as you believe you are.

Unfortunately, some Internet lenders charge high fees and also can get "kickbacks" from the mortgage companies that they send your loan to, by charging you a higher interest rate. You can get a better deal with a reputable direct lender.
The VA does "guarantee" your loan, but not to you. They guarantee the loan to the mortgage company, meaning if you don't pay your mortgage bill and your loan goes into foreclosure, VA will pay off your loan and take over ownership of the house. VA has specific guidelines for approving loans, which aren't score based but do require responsible credit practices.
I work for the #1 real estate office in the Fort Hood area, and my specialty is helping people like yourself get through the mortgage process with as little hassle as possible. Let me know if I can help you in any way. I promise to give you a variety of mortgage companies to look at, and give you honest answers to your questions, not just send you to a "pet" lender and push you into something you're not interested in.

Andrew, I'd like to have a copy of the article as well. My email is katlyn@wccs.net. I did not know about this "NEW" rule either. I was under the impression as the rest that it was from the first time it was pulled.
Michelle, I also agree that the rate you were quoted for that score still seems a bit high. Make sure that you are working with a lender that KNOWS VA loan process. If they do not, they can wind up REALLY messing your loan process up. Good Luck!

Andrew send me the post if you don't mind I'd love to have it for my records!

Carlos@CarlosCavazos.com

One correction your credit can be repulled within 45 days of the last time it was pulled not the original pull. I have an article from the Washington Post written more than 2 years ago explaining how it works if anyone is interested.

Let me help you out! You can have as many mortgage brokers pull your credit in a 45 day period from the date the first mortgage broker pulled it. It will only count as 1 time. That is a fairly new rule. Also, if you have a couple of people pull your credit, it shouldn't hurt you that much. Credit inquiries only account for 10% of your score.

As to wether you should go VA or FHA, I believe you should go VA. Yes your VA funding fee is double that of FHA, however, with VA you do not have a monthly PMI of .50 basis points. On a 100k loan, that could count for almost $50.00 a month on FHA that VA wouldn't have. That is almost $600.00 a year. Plus you do not need any downpayment. The credit criteria is almost the same for both FHA and VA. There are a few differences. They both are not score driven and have low rates.

I am a realtor in the Fort Hood area. I work with a loan officer in Killeen that closed over 40 million last year. That proves that they know what they are doing. If you are interested in a referal, let me know. I promise you will know which bank I am talking about. They are rated the best all of the time. I can get you a better rate. Maybe in the low 6's.

Don

Honestly your best bet would be to go to a more reputable lender, you may consider using FHA instead of VA as it doesn't involve a VA funding fee, which can raise your loan amount a bit. I've used the VA and definately would try to go FHA and get some down payment assistance or a grant to cover your closing costs. Rates have dropped so you should be able to get in the mid to high sixes. Hope this helps. If you need a referall to a loan officer let me know.