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Mortgage Loan Officer
I'm almost certain none of these Realtors currently work for BofA, so none of us know exactly what their "standard practice" is at the time. Trust me, it's an ever changing world in the mortgage industry. You have the right to chose your Lender, so don't let that stop you from looking in the areas that interest you.
Furthermore, it's my understanding that your credit score is NOT lowered each time you check it IF it's being checked for a mortgage within a certain time fame. Contact a reputable Lender to verify that since I can't guarantee the information.
REMAX North Associates
Should not be a problem as long as the house is in great shape. VA appraisals are a little tougher than the standard as they want to make sure you get a great house in good condition. Some foreclosures as well as other homes might not meet VA guidelines.
We can walk you through it all step by step. This is what a great realtor on your team does for you.
Now the trick could be, will a foreclosure meet VA guidelines on appraisal.
Some will some won't.
If you dont have a realtor and would like me to walk you through the various scenarios we can do that with you.
There's no charge to you to use a buyer's agent.
Keller Williams Realty
If you like the house enough and the lender is a reputable one, then go for it. I would still recommend shopping the loan with one other lender so that you can compare to find out who is giving you the best deal. It's believed that your credit drops a small amount each time you pull your credit, but since VA loans aren't credit score driven then you shouldn't worry. Even if your credit score does drop a small amount, the financial savings that you gain from shopping around for the best lender makes up for it. But to answer the question...You can use your VA loan with any lender regardless of who you first pre-qualify with.
I work with mostly First Time buyers and about 75% of them are VA loans. I am from The Colony and specialize in this area. If you would like my help, feel free to contact me. My services for buyers are always free and you get all the benefits that you need (negotiation, guidance, advice, contract review, etc). I would HIGHLY recommend using a Broker/Realtor to help you though the process.
I look forward to hearing from you!
You can use your VA with your credit union or whom ever you choose as your Lender. Many agents will require a B of A approval - for a myriad of reasons. And "sometimes" the home buyer just ends up going with B of A since they have already been approved. My position is to speak with the listing agent. If it is a B of A foreclosure, I can understand why a B of A pre-qual would be required. Other than that, I explain to listing agent, home buyer has a strong credit history and will be using his bank and please remove the B of A requirement.
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In God we Trust
Each time your credit is pulled it lowers your scores !
Lynn911 Dallas Realtor & Consultant, Credit Repair Advisor