Do any of the lenders here on the boards have experience with VA loans? I know I have seen some of y'all post before but can't remember who. We are signing contract today on a VA foreclosure, but I wanted to compare what other lenders can offer, compared to the rate our Real Estate agent's lender gave us, before we lock in. Thanks!

I'm a lender. Lots of discussion about VA lately. 4.5 to 4.625 no points but I'd have confirm in the morning. My contact info is in my profile

How long do you lock rates?

Long as you want but typically 45 days. I can go 60 by myself but need lender approval for longer then that.

I'd have to check with the lender on specifics of locks longer then 60.

4.25 no points. 45 day lock

Since its a VA Foreclosure they wanted 60 days... so Jun 18 was put on the docs. We still don't have it back yet signed so who knows how long they will take, if they ever actually sign it (they did "accept" it, but still pending signature).

Do you have 60 day options, or just the 45? I haven't been following rates since middle/end of last year, but I'm just assuming locking is the way to go right now...

I can do 60. be fine

Might be late to the party but we do a lot of VA loans. Love to get you a worksheet to compare etc. My email is my user name here. Never hurts to compare.

Just something to think about but I have heard that the VA has restarted it's Vendee program. Basically allowing anyone to use a VA type loan to buy a foreclosure. Benefits were zero down owner occupied and 5% down investment or flip. You might check it out. Just some cursory looking found that the VA was restarting this program after mothballing it in 2012.

I did see the Vendee option, but I couldn't see any real benefits over and above what the VA loan already offers. Unless the rate is lower, which I assume it wouldn't be lower than the VA loan rate; however I could be wrong. If we weren't planning on occupying it, I suppose it could be beneficial to use the Vendee as we could then use the full VA loan for another home.

I no longer do Vendee, but both of those assumptions are valid. The Vendee rate is set by VA for all borrowers and many times was immune from market fluctuations. The remark about maintaining your entitlement was spot on though. If it were me I would look into it.

I can get down to 4.125% on VA with no points and 45 day lock. Can close in about 3 weeks typically.

Let me know.

Not to derail the discussion but, do lenders handle credit the same for Veterans as they would for Civilians?

Yes they do. Different credit requirements for each loan though. vA is pretty lenient on rates though. Pretty sure you need either 620 or 600 to qualify.