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Old 07-22-2010, 10:32 PM
 
1,175 posts, read 1,785,756 times
Reputation: 1182

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Hey all. Here's my predicament.

I'm looking for the best Mortgages and Loans for Veterans.

I'm looking for a loan pre-approval.

I just got rejected by a supposedly famous "vet friendly loan co" because I did not have PSC orders to the state I wanted to move to.

Needless to say I was floored by the lack of knowledge of the person I was speaking to on the phone. I tried to explain that a troop does not buy a home in every single place they get PCS'd to....nor do we only buy homes in locations were we have PCS orders....DUH!

Can anyone recommend a REAL vet-friendly and KNOWLEDGEABLE Loan CO that is not clueless on how military people move from place to place on orders...but yet still have permanent homes in their home state...even though they don't live there 100% of the time because they're away on orders?


Looking for some info.

Thanks!
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Old 07-22-2010, 10:35 PM
 
608 posts, read 1,346,554 times
Reputation: 469
did you try USAA?

They are constantly rated the best bank in the country.
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Old 07-23-2010, 05:48 AM
 
Location: Plano, Texas
1,673 posts, read 7,018,522 times
Reputation: 697
call a broker. Brokers can get you better rates than calling the bank directly.
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Old 07-23-2010, 11:53 AM
 
Location: Laguna Niguel, CA
768 posts, read 4,342,006 times
Reputation: 457
Why are you buying in the particular place you are buying? You said "home state", so do you have a history of living of where you are buying?

If you will not be living in the home every day, but you often return to the area throughout the year and this would be a home you would be living in when you return, and there is no other indication you intend or may be required to establish a primary residence elsewhere, then VA is OK with that. It's referred to as intermittent occupancy.

VA also requires that the veteran intend to move into the home within "reasonable time", often 60 days, but if there are certain events in the future that would allow the veteran to move into the home after 60 days, and within 12 months (such as orders, or retiring from the armed forces), then those situations are typically permitted. Not sure if you were aware, but if you are married then your spouse can satisfy the occupancy requirement as well.

For pretty hard to argue with documentation, may want to contact the RLC that handles your state and perhaps even write them an affidavit, ask them to review and if they find it acceptable ask them to confirm it in writing. Then you'll have VA's endorsement about your situation when you approach the next lender.

Last edited by ShanetheMortgageMan; 07-23-2010 at 11:54 AM.. Reason: fixed URL
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