VA Loans

[Marty - Trident Home Loans]

Closed on a VA IRRRL to 3.5% with Trident about two weeks ago- it was by far the best refi or mortgage experience I've encountered. Would rcommend Marty and his associates to anyone, & am hoping rates drop enough that I get to use them again in 6-9 months. 

Let me throw in a recommendation for Trident Home Loans. We have done two refis with them, and have had great experiences. Marty, Ashley and Aspen were great help, got me a great rate both times and with little to no hassle. We really enjoyed the simplicity and quick pace of the process.

Thank you gents! It was a pleasure working with both of you! Let me know if you need anything in the future.

Marty


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[Shamrock]

Another reference for Trident. Spectacular customer service. Best rate I could find. Last year I used NBKC and this year I used Trident. This isn't a knock on NBKC by any means. They did great work on my last loan. However, went with Trident because originally Marty got back to me personally to help work through options on a complex sale of a home.  Then called when purchasing my next house and nobody could match their rate. Once in the loan process, IMHO, Trident really was unbeatable with customer service. A few standard dev's above anything I've ever come across buying or selling homes, and I've done it A fair amount over the years. My situation was pretty complex and challenging on many accounts.  I don't think I could have gotten better service had I been a family member of the employees. Specifically, the quick and applicable communication was great. These days I feel like many businesses ignore calls, fail to respond, feign misunderstanding complaints, etc. because it's just too much work/cost to provide great customer service. Trident was the opposite. Seeking out issues in the background and stopping problems before they interfered with closing. Just superb work. Thanks.  

[Marty - Trident Home Loans]

3 hours ago, Shamrock said:

Another reference for Trident. Spectacular customer service. Best rate I could find. Last year I used NBKC and this year I used Trident. This isn't a knock on NBKC by any means. They did great work on my last loan. However, went with Trident because originally Marty got back to me personally to help work through options on a complex sale of a home.  Then called when purchasing my next house and nobody could match their rate. Once in the loan process, IMHO, Trident really was unbeatable with customer service. A few standard dev's above anything I've ever come across buying or selling homes, and I've done it A fair amount over the years. My situation was pretty complex and challenging on many accounts.  I don't think I could have gotten better service had I been a family member of the employees. Specifically, the quick and applicable communication was great. These days I feel like many businesses ignore calls, fail to respond, feign misunderstanding complaints, etc. because it's just too much work/cost to provide great customer service. Trident was the opposite. Seeking out issues in the background and stopping problems before they interfered with closing. Just superb work. Thanks.  

Thank you so much! It's my goal that every one of our clients walks away with your level of satisfaction.  We're always here to help.

Marty

[snoopyeast]

Closed on a house this summer with Amy (PilotWife2 here) and NBKC.  Great experience; she was lightning fast with answering any questions and always kept me up to date with all pertinent information.   My realtor even commented that he wished everyone on the banking side was like Amy.    Made a return from overseas PCS much less stressful.

[affrick]

Marty and Trident to the rescue again!  After using Trident last year for a no cost IRRRL, I knew exactly where to go when my wife found her dream home and I wanted to make it happen.  I was nervous about the complexity of the situation but Marty's team walked me step by step through a VA loan on the new house and a refinance to keep the old house as a rental property.  Elena was my main point of contact through the process and she was absolutely great, as I've come to expect from all the employees at Trident.  I'll be going back for another VA IRRRL as soon as possible.

[Jaded]

If you've been living in your home financed by a VA loan, and you decide to move but keep the old property as a rental, is there a requirement to refinance?

My understanding was that the primary residence requirement was for the application only, and is not restrictive if you want to move out and rent later.

[Marty - Trident Home Loans]

42 minutes ago, Jaded said:

If you've been living in your home financed by a VA loan, and you decide to move but keep the old property as a rental, is there a requirement to refinance?

My understanding was that the primary residence requirement was for the application only, and is not restrictive if you want to move out and rent later.

There is no requirement to refinance if you move out and want to turn it into a rental.  Some people refi to a conventional to free up their VA entitlement so they can use it to buy their new home.  In many situations you don't even need to do this depending on how much entitlement you have remaining.  Many people have two VA loans running at the same time.

Marty  

[Marty - Trident Home Loans]

On 8/22/2017 at 9:56 AM, affrick said:

Marty and Trident to the rescue again!  After using Trident last year for a no cost IRRRL, I knew exactly where to go when my wife found her dream home and I wanted to make it happen.  I was nervous about the complexity of the situation but Marty's team walked me step by step through a VA loan on the new house and a refinance to keep the old house as a rental property.  Elena was my main point of contact through the process and she was absolutely great, as I've come to expect from all the employees at Trident.  I'll be going back for another VA IRRRL as soon as possible.

Thank you very much Sir!  You made Elena's day!  We are looking forward to doing your next IRRRL!

[pbar]

Closed with Travis Smith at National Bank of Kansas City for our second house/loan with them.  As always, expeditious and the rate they gave us was .5% below USAA.  Also, my real estate agent was surprised by how quickly NBKC was able to get everything done.  As mentioned, this is the second loan we got through Travis and he was great to work with!

[nsplayr]

I closed a conventional-into-VA refi with Marty a couple of weeks ago and their team did a great job. Lots of random paperwork stuff came up in the process but Ashley G. was outstanding at communicating and would call, email, text or stay late to take care of things if they popped up at the last minute. I talked with Marty directly on a couple of occasions and he explained everything to me and helped me compare what he could offer vs another lender. Looking forward to doing an IRRL with Trident when rates support doing that in the future. I referred one of my IRL friends who also had a smooth closing, and I second that recommendation here.

[Marty - Trident Home Loans]

On 9/18/2017 at 7:04 AM, nsplayr said:

I closed a conventional-into-VA refi with Marty a couple of weeks ago and their team did a great job. Lots of random paperwork stuff came up in the process but Ashley G. was outstanding at communicating and would call, email, text or stay late to take care of things if they popped up at the last minute. I talked with Marty directly on a couple of occasions and he explained everything to me and helped me compare what he could offer vs another lender. Looking forward to doing an IRRL with Trident when rates support doing that in the future. I referred one of my IRL friends who also had a smooth closing, and I second that recommendation here.

Thank you for your business and the referral!  We enjoyed working with you and Ashley said thank you for the compliment! I'll be in touch to do the no cost IRRRL in 6 months.

Marty

[uhhello]

PCS into DM in late January.  Timing for a TDY early November will allow for a stateside trip to look at houses.  Is greater than 60 days from intended move in too ambitious to see something and put an offer down with a closing of late mid to late January?

[Marty - Trident Home Loans]

4 hours ago, uhhello said:

PCS into DM in late January.  Timing for a TDY early November will allow for a stateside trip to look at houses.  Is greater than 60 days from intended move in too ambitious to see something and put an offer down with a closing of late mid to late January?

The buying season has slowed down so I’d recommend still making the trip and putting an offer in but don’t get too aggressive too quickly so you still get a good deal.

Good luck!

Marty

[Gunnerlit]

Sent my first message to Marty at Trident Home Loans on August 16. I closed September 20. Re-financed from a 30 yr VA to a 15 yr VA. Jenn and Soha were great in handling the loan and getting everything completde faster than I thought it could be done. Like others have said, have all your paperwork in order because they will ask for it. There is a lot of paperwork. Many thanks to Marty and crew.

[Marty - Trident Home Loans]

52 minutes ago, Gunnerlit said:

Sent my first message to Marty at Trident Home Loans on August 16. I closed September 20. Re-financed from a 30 yr VA to a 15 yr VA. Jenn and Soha were great in handling the loan and getting everything completde faster than I thought it could be done. Like others have said, have all your paperwork in order because they will ask for it. There is a lot of paperwork. Many thanks to Marty and crew.

Thank you Sir!  It was our pleasure.  The mortgage industry is working on reducing the paperwork and doing more digitally, but the rules/laws haven't all caught up with the technology yet.  You made Jenn and Soha's day!

Take care!

Marty 

[HuskyPilot]

Just closed on a house with Trident.  Marty gave me a wide variety of mortgage options, all of which beat out other leading competitors.  Christy processed the loan and was excellent every step of the way.  Overall my experience was fantastic and I highly recommend Trident to anyone!

[Marty - Trident Home Loans]

Just closed on a house with Trident.  Marty gave me a wide variety of mortgage options, all of which beat out other leading competitors.  Christy processed the loan and was excellent every step of the way.  Overall my experience was fantastic and I highly recommend Trident to anyone!

Thank you Sir! We enjoyed working with you! You made Christy’s day!

[MilitaryToFinance]

Has anybody had problems with the seller of a house using a VA loan? I've been warned by multiple people that sellers don't really like VA loans and if there is more than one offer you will lose out to the conventional loan. I'm especially curious because I live in an area where very few people would have experience with VA loans but the rates I'm being quoted are 50-75bps better for the VA loan than conventional. I have a disability rating so the funding fee is waived for me as well so I would like to use the VA loan if possible but the stories have me worried.

[PilotWife2]

2 minutes ago, MilitaryToFinance said:

Has anybody had problems with the seller of a house using a VA loan? I've been warned by multiple people that sellers don't really like VA loans and if there is more than one offer you will lose out to the conventional loan. I'm especially curious because I live in an area where very few people would have experience with VA loans but the rates I'm being quoted are 50-75bps better for the VA loan than conventional. I have a disability rating so the funding fee is waived for me as well so I would like to use the VA loan if possible but the stories have me worried.

 My buyers have run into that in some parts of the country like California. You need a really good realtor who will be your advocate and assure the selling side that you have a very strong file.

Going VA really isn't harder than going Conventional now that all guidelines are more strict after the 2008 financial crisis.   A few VA quirks like the requirement for a termite report depending on where you're buying, as well as the appraiser being less tolerant to things like peeling paint.  

 It is a shame for you not to use your VA eligibility considering how much lower rates are and since you are exempt from paying the VA funding fee. Find a loan  officer  (like me!) who is very experienced with VA financing , and a realtor who will be your advocate, and it should work out for you.  

PS  Typically I get on the phone with the selling side to assure them of the quality of the file and that I am a VA expert who will guide the file smoothly through the process. It always seems to help if the selling side talks to me.  If there is anything else I can do to help let me know! 

[Marty - Trident Home Loans]

Has anybody had problems with the seller of a house using a VA loan? I've been warned by multiple people that sellers don't really like VA loans and if there is more than one offer you will lose out to the conventional loan. I'm especially curious because I live in an area where very few people would have experience with VA loans but the rates I'm being quoted are 50-75bps better for the VA loan than conventional. I have a disability rating so the funding fee is waived for me as well so I would like to use the VA loan if possible but the stories have me worried.

Seen this before in hot markets. Sellers hear stories and we're happy to help get the record straight.

The VA does have disadvantages for sellers and more requirements. Buyer protections are awesome but are sometimes contrary to sellers. Wood rot, appraisal requirements, appraisal timeline, etc. VA fees should never be an issue if that comes up.

Let me know if you need me to engage for you. Typically when I call as the CEO of the mortgage company the seller will listen.

Marty

[MilitaryToFinance]

Thanks guys. Is it just the more stringent inspection that worries sellers or they aren't familiar with VA loans and people don't like what they aren't familiar with? I'll be taking out a jumbo loan so even though it's VA I'll be putting down at least 10%. I'm not sure why the seller would care how much the buyer is putting down but that's the only other big difference I can think of.

[PilotWife2]

Somehow a bigger down payment makes a buyer seem more financially sound.  Makes sellers "feel" more comfortable.  Bottom line if a buyer is qualified for 100% financing, it's the same cash to the seller at closing....

Some parts of the country don't use VA much and something new is "scary".  This is where it helps to have true pros on your team to help educate the seller...

[Marty - Trident Home Loans]

Thanks guys. Is it just the more stringent inspection that worries sellers or they aren't familiar with VA loans and people don't like what they aren't familiar with? I'll be taking out a jumbo loan so even though it's VA I'll be putting down at least 10%. I'm not sure why the seller would care how much the buyer is putting down but that's the only other big difference I can think of.

Like Amy said, the size of the down payment doesn’t actually make a difference when the check is cut to the seller but it makes them feel good knowing you have more skin in the game. The more stringent VA requirements are to protect the veteran from buying a lemon. The seller wants to sell fast and with as few requirements getting in the way which is why in some hot markets or with old houses the seller may be turned off by a VA. We don’t run into this very often so I wouldn’t be concerned. We’ll find a solution if it presents itself.

Marty

[Marty - Trident Home Loans]

Beware of the VA loan scams out there...if it seems too good to be true it probably is.  The government is cracking down on these unethical lenders.

https://www.chicagotribune.com/classified/realestate/ct-re-1001-kenneth-harney-20170926-story.html

Thank you for the opportunity to serve you.  Shoot me an email or PM if you need any help in AL, CA, CO, DE, FL, GA, IN, LA, MD, MI, MN, MS, NM, OK, OR, TN, TX, UT, VA, or WA.

Marty 

[Marty - Trident Home Loans]

Hope everyone had a great Thanksgiving!  Got great news today that the standard loan limits will be going from $424,100 to $453,100 for loan closing in 2018.  High cost area loan limits are increasing as well.  I'm waiting for the official release from the VA, but the Federal Housing Finance Authority pushed it out today and the VA piggy backs on their limits.  Below is the link to pull up your county's or future county's 2018 limit.  As before, you can still go above the limit but you'd need to put down 25% of the difference (500,000 purchase - 453,100 limit = 46,900 difference X 25% = 11,725 down payment)

Let me know how I can help you.

Cheers!

Marty

https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

Edited November 29, 2017 by Marty - Trident Home Loans