VA Loans

[Marty - Trident Home Loans]

We got a nice little rate dip this week and I'm taking advantage of it to lower rates at no cost for as many people as I can.

If you are over 3.625% on a 30yr VA that's still your primary residence, email me to see if I can make a NO cost VA IRRRL work for you. I just need your state, VA Disability status, credit score and loan amount to run a quick quote.

I can also do No cost IRRRLs on previous homes that you still have a VA on but use as a rental now. The rate would just be a little higher but if your sitting above 4% it'd be worth looking at.

Take care!
Marty
marty@mythl.com


Sent from my iPhone using Tapatalk

[stract]

On 4/13/2017 at 4:21 AM, Marty - Trident Home Loans said:

We got a nice little rate dip this week and I'm taking advantage of it to lower rates at no cost for as many people as I can.

If you are over 3.625% on a 30yr VA that's still your primary residence, email me to see if I can make a NO cost VA IRRRL work for you. I just need your state, VA Disability status, credit score and loan amount to run a quick quote.

I can also do No cost IRRRLs on previous homes that you still have a VA on but use as a rental now. The rate would just be a little higher but if your sitting above 4% it'd be worth looking at.

Take care!
Marty
marty@mythl.com


Sent from my iPhone using Tapatalk

Marty are you licensed in UT yet?

[Marty - Trident Home Loans]

Marty are you licensed in UT yet?

I am but I'm waiting on my company license to be approved. Should be real soon...I'll let you know


Sent from my iPhone using Tapatalk

[MooseAg03]

I'm going to be PCSing later this year and will hopefully wind up somewhere a little more rural than Las Vegas. Does anyone have any information on VA construction loans? If we can't find an existing home to suit us, we might look at buying a little bit of land and building a home if possible. From what I've read it seems you usually have to use a local lender or builder to finance the build prior to VA mortgage funding.


Sent from my iPhone using Tapatalk

[Marty - Trident Home Loans]

I'm going to be PCSing later this year and will hopefully wind up somewhere a little more rural than Las Vegas. Does anyone have any information on VA construction loans? If we can't find an existing home to suit us, we might look at buying a little bit of land and building a home if possible. From what I've read it seems you usually have to use a local lender or builder to finance the build prior to VA mortgage funding.


Sent from my iPhone using Tapatalk

If the builder will finance it then you don't need a construction loan...just a regular VA. If not, local lenders, banks, and credit unions are typically the best for construction loans. You can do a VA construction loan where you pay interest only until construction is complete then you start principle and interest payments. The rate will be higher but since you're already in a VA you can follow it up with a no cost IRRRL to reduce your rate. I'm doing regular 30yr VAs at 3.25%, but a construction VA would probably be around 4.25-4.5 if I had to guess.

It doesn't really matter what initial rate you get if you do a no cost IRRRL 6 months after the construction is compete. You can even ask for a larger lender credit in exchange for a higher rate knowing you're going to do the IRRRL to lower the rate back down to the market rate. That'd be my recommendation.

Marty


Sent from my iPhone using Tapatalk

[Marty - Trident Home Loans]

May 22-24 Trident Home Loans is proud to be the Premier sponsor of the Blue Angels Airshow at the United States Naval Academy. Our offices are located in Pensacola Florida. Trident is owned by myself; 1985' USNA Grad/Navy Pilot and Tim Moor AOCS NAS Pensacola/Navy Pilot. We are also proud to sponsor the Blue Angel Foundation's reunion as well as the Naval Academy Athletic Associations excellence in Athletics golf tournament all during Commencement week. I personally look forward to seeing many of my fellow shipmates at the VIP Tents as well as the 40 or so Former Blue Angels and their families.

I know most everyone on here is AF, but if you're in the area please swing by for a visit. I'd love to meet you!

Marty








Sent from my iPhone using Tapatalk

[Jaded]

Can you get a conventional loan and then 6 months later refinance to an IRRRL VA?

[Marty - Trident Home Loans]

Can you get a conventional loan and then 6 months later refinance to an IRRRL VA?

An IRRRL is a streamlined VA refi. Your original loan would need to be a VA to do an IRRRL. You can refi from a conventional to a VA but there are more costs/paperwork/appraisals associated.

You can take a slightly higher rate to get most of your closing costs paid then do an IRRRL to lower the rate back down assuming rates stay similar over the 6 months. I do a lot of these minimal closing cost initial VAs followed by a no cost IRRRL after 6 months. Saves you a lot of money for not that much extra paperwork especially if you may sell due to a PCS 3yrs later and don't want to deplete your savings or roll extra costs into you loan.

Little known fact...you can do an IRRRL on any house you've lived in that still has a VA loan on it even if you're not living in it anymore. Don't just live with a terrible interest rate on an old house if you can reduce it at no cost.

Marty


Sent from my iPhone using Tapatalk

[PilotWife2]

On ‎4‎/‎15‎/‎2017 at 11:30 PM, Jaded said:

Can you get a conventional loan and then 6 months later refinance to an IRRRL VA?

This can be a very costly option if you are required to pay the VA funding fee...When refinancing a non-VA loan to a VA loan, you are required to pay the full 0% down funding fee regardless of the amount of equity you have in the home.  That is 2.15% of your loan value for a 1st time user and 3.3% for a subsequent user (2.4% and 3.3% for a reservist).  Regular VA refinances (not VA streamlined IRRRLs) are full credit qualifying loans (VA appraisal required along with a termite report for homes in termite states, full credit qualifying documents like paystubs/LES, bank statements, etc.).  Not that bad except the funding fee is a bitter pill to swallow if you are not exempt....Let me know if you have any other questions! 

[Marty - Trident Home Loans]

This can be a very costly option if you are required to pay the VA funding fee...When refinancing a non-VA loan to a VA loan, you are required to pay the full 0% down funding fee regardless of the amount of equity you have in the home.  That is 2.15% of your loan value for a 1st time user and 3.3% for a subsequent user (2.4% and 3.3% for a reservist).  Regular VA refinances (not VA streamlined IRRRLs) are full credit qualifying loans (VA appraisal required along with a termite report for homes in termite states, full credit qualifying documents like paystubs/LES, bank statements, etc.).  Not that bad except the funding fee is a bitter pill to swallow if you are not exempt....Let me know if you have any other questions! 

I agree with Amy that it is costly "if" you have to pay the funding fee. If you have a VA disability or your lender pays your funding fee then the refi costs are significantly lower. I regularly pay the initial 2.15% funding fee then do a no cost IRRRL after 6 months for my borrowers. It's a win for everyone.

 

 

Sent from my iPhone using Tapatalk

[Daredevileng1]

Another shout for NBKC and Keith Andrew in particular. Just closed Friday and it was painless and very organizied. Offer to closing was 5 weeks but Keith could have supported something closer to 2 weeks with his hard work. He was always available and locked us in last month to a great rate. Looked at Trident too but they weren't able to lend in the state we bought. Overall very happy with his communication and responsiveness. Would never have found this bank with BO.net
-DD

EDIT-for autocorrect shenanigans

[PilotWife2]

11 hours ago, Daredevileng1 said:

Another shout for NBKC and Keith Andrew in particular. Just closed Friday and it was painless and very organizied. Offer to closing was 5 weeks but Keith could have supported something closer to 2 weeks with his hard work. He was always available and locked us in last month to a great rate. Looked at Trident too but they weren't able to lend in the state we bought. Overall very happy with his communication and responsiveness. Would never have found this bank with BO.net
-DD

 

 

EDIT-for autocorrect shenanigans

 

Thanks so much for the shout out and for your business!  I'll be sure Keith sees it!   Our borrowers have found it helpful to work with a nationwide lender.  We can help you with a purchase or refinance in all 50 states!  Particularly helpful for our active duty borrowers.  No matter where they have orders, we can help!  Just call in, update your existing file and find your new home!   Thanks again!

[Vertigo]

I closed last week with Dave Devine at NBKC. Great communication and painless. I was more of a pain to him than anything in getting documents he needed.

He saved me quite a bit in closing costs, knocked 3 years off my previous mortgage, lowered my interest rate, and got me $20K for a remodel while keeping my monthly payment within $5 of my previous loan.

[Herk Driver]

Closed yesterday on a new construction VA home loan with Trident Loans. Locked in at 3.375% (no points) on a 30-year VA fixed on 9 May and closed with no issues yesterday on 14 Jun. Marty was extremely easy to work with and easy to contact. Between Lauren and Christy, this was an easy process that resulted in a highly satisfied customer. As a matter of fact, we were cleared to close on 31 May in what was the easiest home loan I have ever submitted. From the initial loan app there was one request for additional documentation and Christy took care of all the details.

I highly recommend Marty and his team.

ETA : more details


Sent from my iPhone using Baseops Network Forums

[Maestro]

Just had a second fantastic experience with Marty's team at Trident (refinancing our primary to a VA-loan).

Excellent communication throughout the process, along with a great rate and lender credit. Extremely stress-free from beginning to end, and I think we closed within 3 weeks of initial contact. Highly recommend! 

[Marty - Trident Home Loans]

53 minutes ago, Herk Driver said:

Closed yesterday on a new construction home loan with Trident Loans. Locked in at 3.375% (no points) on 9 May and closed with no issues yesterday on 14 Jun. Marty was extremely easy to work with and easy to contact. Between Lauren and Christy, this was an easy process that resulted in a highly satisfied customer. As a matter of fact, we were cleared to close on 31 May in what was the easiest home loan I have ever submitted. From the initial loan app there was one request for additional documentation and Christy took care of all the details.

I highly recommend Marty and his team.


Sent from my iPhone using Baseops Network Forums

 

36 minutes ago, Maestro said:

Just had a second fantastic experience with Marty's team at Trident (refinancing our primary to a VA-loan).

Excellent communication throughout the process, along with a great rate and lender credit. Extremely stress-free from beginning to end, and I think we closed within 3 weeks of initial contact. Highly recommend! 

Thank you gentlemen!  You were both a pleasure to work with!

For everyone else, interest rates have dipped to pre-election levels so this a great time to buy or do a refi.  We're in the process of doing a bunch of 30yr VA no-cost refi's for prior borrowers at 3.5%.  If you're sitting above that we'd love to take a look at your numbers for 5mins and see if we can reduce your payment at no cost.  Streamlines are super easy and don't require all the paperwork and energy that goes into initial purchase loans.  

We also just got two more state licenses, NM & UT. 

Let me know how I can help you...

Marty

[SPAWNmaster]

On 6/15/2017 at 5:56 PM, Marty - Trident Home Loans said:

 

Thank you gentlemen!  You were both a pleasure to work with!

For everyone else, interest rates have dipped to pre-election levels so this a great time to buy or do a refi.  We're in the process of doing a bunch of 30yr VA no-cost refi's for prior borrowers at 3.5%.  If you're sitting above that we'd love to take a look at your numbers for 5mins and see if we can reduce your payment at no cost.  Streamlines are super easy and don't require all the paperwork and energy that goes into initial purchase loans.  

We also just got two more state licenses, NM & UT. 

Let me know how I can help you...

Marty

Marty do you do NY or MA at all?

[Marty - Trident Home Loans]

Marty do you do NY or MA at all?

Sorry we don't. I'd be happy to find you another wholesale lender like me up there. Just shoot me an email.


Sent from my iPhone using Tapatalk

[PilotWife2]

 Hello! We lend in all 50 states and do a lot of business in both New York and Massachusetts. Let me know if I can be of help! Amy NBKC Bank

[Homestar]

Thanks Marty and team from Trident! We had an on time mail-in VA loan closing and Ashley was able to help negotiate the logistics of closing from a different state. Marty gave me a good rate and I opted for lender discounts. 

Ill definitely be following up if rates stay low for the no-cost IRRRL in 6 months. 

[uhhello]

Anyone had any recent experience with NBKC.  They were great in 2012 for us.  Looking for something in AZ.

Nevermind, I scrolled up :)

Edited June 20, 2017 by uhhello

[PilotWife2]

We do a lot of business in AZ! I've been with NBKC for over 16 years because of our commitment to customer service and great value.  Let us know if we can be of any help! 

[Marty - Trident Home Loans]

Thanks Marty and team from Trident! We had an on time mail-in VA loan closing and Ashley was able to help negotiate the logistics of closing from a different state. Marty gave me a good rate and I opted for lender discounts. 
Ill definitely be following up if rates stay low for the no-cost IRRRL in 6 months. 

Thank you Sir! Ashley is amazing! We'll work the no-cost IRRRL in a few months. Rates are staying pretty steady right now. If you keep an eye on the 10yr treasury bond you can spot the mortgage rate trend. If the bond increases then rates will trend higher and vice versa. The bond has been as high as 2.62% this year and is currently at 2.15% so now is a good time to get a mortgage or do a refi.

https://finance.yahoo.com/quote/%5ETNX/



Sent from my iPhone using Tapatalk

[Guardian]

Okay. It's that time. Who's got the best rate on a 15 yr or 30 year VA loan?


Sent from my iPhone using Baseops Network Forums

[Marty - Trident Home Loans]

Okay. It's that time. Who's got the best rate on a 15 yr or 30 year VA loan?


Sent from my iPhone using Baseops Network Forums

Shoot me an email or PM with the state (or zip code), credit score, loan amount and if you have a VA disability and I'll let you know what I can do.


Sent from my iPhone using Tapatalk