Anyone know of great mortagage loans for military?

[lpmorgan]

We are getting ready to buy a house and I'm curious who has found any really great mortage loans. So far I've found that Navy Federal has the best.

Thanks

 

[TheBubba]

Check out NFCU and USAA.

 

[BigIron]

I've used Navy Federal twice now. Best interest rate and the veteran's choice is good to go. Also, they do not sell their loans under $350K or so to Fanny Mae or on the mortgage market, so you make a payment to them only for the life of the loan. I think they do sell their jumbo loans, though.

However, USAA is pretty competitive too.

 

[The Chief]

I've used Navy Federal twice now. Best interest rate and the veteran's choice is good to go. Also, they do not sell their loans under $350K or so to Fanny Mae or on the mortgage market, so you make a payment to them only for the life of the loan. I think they do sell their jumbo loans, though.However, USAA is pretty competitive too.

I have and have had several jumbo loans with NFCU. They never sold them, continued to service through NFCU, a big plus. Think USAA has same policy, but have no direct experience.

 

[Gatordev]

NFCU had the best rate when I was looking, but couldn't turn the loan around quick enough at the time. I hadn't found USAA to be all that competitive for both car or home loans. In the end, I went w/ Countrywide. Their rate was close to NFCU, they could turn the loan around quickly, and their online payment system is very extensive (not that NFCU or USAA's isn't).

 

[HH-60H]

I don't think USAA finances their mortgages directly, I think they contract it to another company.
I went with NFCU, and it was great. I bought my house at my next duty station, but about 3 months before I transferred. NFCU was very understanding and accomodating when calculating my pay to qualify me for the loan (i.e. used higher BAH that I was about to receive, pending flight pay raise, etc.)

 

[Kathy]

In the end, I went w/ Countrywide.

My husband and I just went with Countrywide as well. Their initial quote was good, but I then applied online with LendingTree.com. I received 6 quotes from LendingTree and took the best one back to Countrywide and asked them to beat it. Countrywide beat it, so I went back to LendingTree again and they said they couldn't beat the deal Countrywide gave me (and even questioned if I was working with a legitimate Countrywide agent because they couldn't believe what a good deal Countrywide was giving me). It was a lot of work, but worth it for the deal we received.

 

[bennett4362]

My husband and I just went with Countrywide as well. Their initial quote was good, but I then applied online with LendingTree.com. I received 6 quotes from LendingTree and took the best one back to Countrywide and asked them to beat it. Countrywide beat it, so I went back to LendingTree again and they said they couldn't beat the deal Countrywide gave me (and even questioned if I was working with a legitimate Countrywide agent because they couldn't believe what a good deal Countrywide was giving me). It was a lot of work, but worth it for the deal we received.

same here

 

[pittflyer]

I'm not sure if there is anyway to find out, but I happened to stumble upon a Mortgage broker whose son was in the Navy. (Or find a broker who has served.) He straight up took care of me, shopped the best loan with the best rate, and charged me zero points on a zero down payment loan with Citibank. Like I said, mine was dumb luck, but if you "shop" around or find a broker to "shop" for you like the other posts have said you will find what is best for you and your family. My 2cents, if you go VA go with NFCU, or USAA, but if you go with a more conventional loan, I think you can do better by shopping around. Essentially, make your own luck if you have too.

 

[Gatordev]

My husband and I just went with Countrywide as well. Their initial quote was good, but I then applied online with LendingTree.com. I received 6 quotes from LendingTree and took the best one back to Countrywide and asked them to beat it. Countrywide beat it, so I went back to LendingTree again and they said they couldn't beat the deal Countrywide gave me (and even questioned if I was working with a legitimate Countrywide agent because they couldn't believe what a good deal Countrywide was giving me). It was a lot of work, but worth it for the deal we received.

Good gouge. I did the same w/ NFCU and Countrywide. CW came down, but not quite to NFCU's amount. But since I was in a time crunch (or so I thought at the time), the extra half a point was worth it.