How to find least expensive va home loan?

[Benjamin Douglas]

With all the various sources for a va home loan, how can I best determine up front which lender will be the least expensive overall--before I actually apply for one. They all claim to have the best rates. Thanks for your help!!

[Chris Mason]

Originally posted by @Benjamin Douglas:

With all the various sources for a va home loan, how can I best determine up front which lender will be the least expensive overall--before I actually apply for one. They all claim to have the best rates.

Thanks for your help!!

VA IRRRL will have the lowest rate on a VA loan simply because they are the cheapest to originate... no appraisal, no income calc, etc, these are as close to no doc loans as you can get in 2018, and it's still a VA loan backed by the full faith and credit of the US Gov't, meaning close zero risk for the lender.

Kicker is it's only available as a refi mortgage, not a purchase mortgage. But worry not, exactly 6 months after you close on the purchase, you will have more junk mail from IRRRL sweatshops than you know what to do with. I literally get about 10 items of junk mail a week from these sweatshops. Here's an article about them in the Wall Street Journal, you might see a familiar name in it. :P