I am pre-approved through USAA for a VA loan. Homepath apprvd home requires "direct lender" pre-approval for an offer submission, does

Asked by Matt, 92563 Thu Apr 21, 2011

USAA qualify?

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, ,
Thu Apr 21, 2011
We are VA direct lender in addition to a authorized HomePath lender. I would be more than happy to assist you.

Best of Luck!
Web Reference:  http://www.AFN-Loans.com
1 vote
, ,
Wed Apr 27, 2011
Hi Matt,

If you want options, give me a call. I am a direct lender as well. You may or may not want to actually use the HomePath financing. Lets compare some down payment assistance programs and see if it makes more sense to have a lower rate and keep more cash in your bank acount rather than dumping 3% into the down payment and having a higher rate on a HomePath loan.
Web Reference:  http://homeloanartist.com
0 votes
, ,
Sat Apr 23, 2011

I have been a member of USAA for 19 years.. great company. I have been a lender for 16. Here is the deal. I have EVERYTHING with USAA, auto, home, life, investments... like I said, amazing company, i get it.

when it comes to home mortgages, I not only beat their fees, but also their rates by at least a 1/4 point on a regular basis. Like I said, they are amazing, and I am a current member... but home mortgages are not their sweet spot.

In addition, when it comes to HomePath and FannieMae foreclosures, give yourself options. FannieMae only licenses a FEW lenders to originate and handle the HomePath Renovation loans. My company is licensed across the country to do so, which proves we have their trust and are a cut above. We are also a direct VA lender, as well as direct everything else, as we are a bank.

Lastly, I was a green beret and helicopter pilot in the army, so I have a soft spot for fellow service members.

Thank you for your service. Should you want to check your options, feel free to give me a buzz... I would be delighted to help.

(CW2 Brent Kluge)
Web Reference:  http://www.203kworld.com
0 votes
Steven, Agent, Newport Beach, CA
Thu Apr 21, 2011
USAA is a direct lender.

A non-direct lender would be a mortgage broker. Brokers don't lend their own money, they shop different lenders on behalf of their clients.

By requiring a "direct lender" they're attempting to steer business away from brokers. This way the banks make more money. Not that any of that stuff matters...USAA is direct; you're good!
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