(619) 422-5900VA Q&A
Find all the answers to your important VA home loan questions here!
Q. How can Military Home Loans help me?
A. We guide you through the entire buying & refinancing process. We’ll also show you how to secure your VA loan & take full advantage of the unique benefits you’ve earned.
Discover our unmatched benefits:
Q. Are you a broker?
A. Nope, we’re a direct lender! We execute loans directly to Ginnie Mae (the governing body overseeing both VA and FHA), and Fannie Mae & Freddie Mac (the government agencies that oversee Conventional loans).
Q. Do you charge origination points?
A. Never! Unlike most lenders, we never charge you a percentage for our services. This means you won’t pay more EVEN if your loan is higher (we steer clear of fee tolerance issues).
Important - we have fixed fees for processing and underwriting.
Q. When are you open?
A. Our office is open from 08:00-17:00 PST. However, you can contact your personal loan officer whenever you need (you will be given their personal phone number).
You are our top priority, we’re here when you need us most!
Q. Are you going to sell my loan?
A. We retain anywhere from 20% - 70% of the loans we fund, depending on the liquidity of the company at any given time. Mortgage transfers are common. Industry-wide, on average, a mortgage could be bought or sold seven times during a 30-year span. If your loan is bought by someone new, your payment doesn’t change; just to which bank you make it. Even if your loan ends up with another bank, you’re a client for life. Come back to us for any future needs!
Q. I’ve been denied by lenders in the past, can you still help me?
A. Yes! In fact, we have helped many of our clients get approved even after they’ve been denied by another lender. We are able to do so because our overlays are very limited (fyi - extra overlays are the main reason why lenders deny so frequently).
Q. What’s your maximum VA loan amount?
A. Our max is high! $5 MILLION! A lot of lenders will say you can only get a VA loan up to $1 million or $1.5 million. That's their max, not ours! And for well-qualified clients, we'll push the boundary even higher. We are always looking for ways to go above and beyond for our clients!
Q. Do you charge origination points?
A. Never! Unlike most lenders, we never charge you a percentage for our services. This means you won’t pay more even if your loan is higher (we steer clear of fee tolerance issues).
Important - we have fixed fees for processing and underwriting and some rates my have discount point costs.
Q. How fast can you close my loan?
A. We promise to close your loan in 28 days - or we’ll pay you $500! This is one of our unmatched benefits and reasons why our veterans love working with us.
Q. Will you keep my sensitive information safe & secure?
A. Always! We provide you with secure upload portals and keep your personal information safe at all times on encrypted servers. Over the last 17 years, we’ve never had a single data breach or lost a client’s personal information.
Q. Do you offer personal loans or Home Equity Lines of Credit (HELOCs)?
A. No. We specialize in mortgages. We are mortgage experts who focus on getting our clients their dream homes, while saving as much as possible!
Q. Why are your rates not as low as the ads I see online?
A. Buyer beware of the online ad that sounds too good to be true. It probably is. We're not built like online lenders. We are NOT a tiny one-man broker shop - going from one investor to the next, trying to get your deal done just to make a quick buck.
We ARE an in-house, local, VA direct lender with 17+ years of experience guiding over two thousand veterans and active duty members through the entire buying and refinancing process.
If you’re looking for a competitive rate that comes with the BEST service and support needed to achieve ALL your financial goals, then we’re the lender for you.
Q. Why should I choose you over a credit union or bank?
A. Because, unlike credit unions and banks, we’re built to close fast, give great advice and be here when you need us most. Our loan officers give every client our personal cell phone numbers. We’ve got your back, from start to finish.
You won’t find this level of support with big banks and credit unions, because they focus more on advertising and growing their businesses. They’ve traded quality for quantity - to scale and grow, failing to give you the 1:1 guidance and focus you need to achieve your goals.
Q. Do you only work with VA loans?
A. Nope! We are local VA experts, however, we also can help you with your Conventional or FHA loan. We ALWAYS offer YOU the same level of service and communication, no matter what loan you’re looking to leverage.
Q. My loan is with a new company, so I have to use them to refinance, right?
A. Absolutely not! Even if your loan gets bought by another investor, you’re still our client for life! When you’re ready to refinance your loan and get away from that big investor, our team will be waiting for you, eager to help! When you’re ready to sell your home and buy the next one, we’re still your lender.
Got more VA home loan questions?
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© 2020 American Pacific Mortgage Corporation. For informational purposes only. No guarantee of accuracy is expressed or implied. Programs shown may not include all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions may apply. Equal Housing Opportunity.
EQUAL HOUSING OPPORTUNITY
Military Home Loans, 8885 Rio San Diego Drive,
Suite 347 San Diego CA 92108
619-422-5900
NMLS #1169242
Licensed in CA, AZ, TX, VA NC, FL, TN, WA
Operating as Military Home Loans in AZ, CA, FL, NC, OR, TN, TX, VA, WA
Licensed by the Dept. of Business Oversight under the CRMLA
Licensed by the Dept of Financial Protection and Innovation under the CRMLA
AZ BK 0906702
CA DRE #01215943
NV MB 164
Not Available in New York
Licensed under the Oregon Consumer Finance Act
-Not Available in New York
CONSUMERS WISHING TO FILE A COMPLAINT AGAINST A COMPANY OR A RESIDENTIAL MORTGAGE LOAN ORIGINATOR SHOULD COMPLETE AND SEND A COMPLAINT FORM TO THE TEXAS DEPARTMENT OF SAVINGS AND MORTGAGE LENDING, 2601 NORTH LAMAR, SUITE 201, AUSTIN, TEXAS 78705. COMPLAINT FORMS AND INSTRUCTIONS MAY BE OBTAINED FROM THE DEPARTMENT'S WEBSITE AT www.sml.texas.gov. A TOLL-FREE CONSUMER HOTLINE IS AVAILABLE AT 1-877-276-5550. THE DEPARTMENT MAINTAINS A RECOVERY FUND TO MAKE PAYMENTS OF CERTAIN ACTUAL OUT OF POCKET DAMAGES SUSTAINED BY BORROWERS CAUSED BY ACTS OF LICENSED RESIDENTIALMORTGAGE LOAN ORIGINATORS. A WRITTEN APPLICATION FOR REIMBURSEMENT FROM THE RECOVERY FUND MUST BE FILED WITH AND INVESTIGATED BY THE DEPARTMENT PRIOR TO THE PAYMENT OF A CLAIM. FOR MORE INFORMATION ABOUT THE RECOVERY FUND, PLEASE CONSULT THE DEPARTMENT'S WEBSITE AT www.sml.texas.gov
“NMLS consumer Access” with the following link: https://www.nmlsconsumeraccess.org/EntityDetails.aspx/COMPANY/1850
“Accessibility Statement” with the following link:https://apmc.sharepoint.com/sites/advertising/Shared%20Documents/Forms/AllItems.aspx?id=%2Fsites%2Fadvertising%2FShared%20Documents%2FAPM%2DAccessibility%2DStatement%2Epdf&parent=%2Fsites%2Fadvertising%2FShared%20Documents
*This does not include a denial issued after the pre-approval that is based on changed circumstance including quitting your job. getting laid off. losing your income, property issues from appraisal or inspection, or negotiation issues with the other party. The program is valid only if: ll The Borrower provides MHL with complete and accurate information for the loan application at the time of pre-approval. 2] The borrower provides MHL with all additional required information/documentation during the loan approval. The program is NOT valid if: ll The borrower changed loan products or terms. 2] The loan denial is due to the borrower's actions. omissions or delays that change their circumstance. or is due to those of an unaffiliated third party. 3] The borrower's application of loan documentation contains fraudulent information or material misrepresentations. 4] Anything else in the home purchase process causes a termination of the contract including seller issues, appraisal issues, or inspection issues.
**The close on time program does not include any undue delays in Military Home Loans receiving requested items to close from either party. The program does not include any unforeseen delays due to repairs, negotiations, or 3rd party delays. VA joint loans do not qualify for the 28 day close program. The 28 day countdown starts from the date the fully executed ratified purchase agreement is received by Military Home Loans with all addendums. Valid only for VA loan purchases in the state of CA, AZ, TX, VA NC, FL, TN. Not valid for any other loan program. This program is not assignable or transferrable and we reserve the right to withdraw. terminate. or amend this program at any time without notice except when eligibility for the program is reached prior to our withdrawal. termination or amendment. Should you qualify to receive a payment, the check will be mailed to your home address within 10 days of your loan denial. Any payment we make may be reported to the IRS on a Form 1099-MISC.
***Finance charges may be higher over the life of the loan. Consult with your loan advisor for details.
†1. Eligible on VA purchase loans in AZ, CA, CO, FL, NC, OR, TN, TX, VA | 2.©2019 American Pacific Mortgage Corporation. All information contained herein is for informational purposes only and, while every effort has been made to ensure accuracy, no guarantee is expressed or implied. Any programs shown do not demonstrate all options or pricing structures. Rates, terms, programs and underwriting policies subject to change without notice. This is not an offer to extend credit or a commitment to lend. All loans subject to underwriting approval. Some products may not be available in all states and restrictions apply. Equal Housing Opportunity. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act We are a VA approved lender, not affiliated with the Dept of Veterans Affairs or any government agency. 3. Lender credit dependent on loan size. Maximum lender credit $5,000. Minimum lender credit $500. Lender credit increases by $500 with every increase of $100,000 to loan size. Contact Military Home Loans for more details.