Who do experienced realtors recommend as lenders/brokers for VA loans in NW Indiana?

While I understand you are looking for a Realtors referral, that isn't necessarily the best answer. By far, the #1 home buying mistake is choosing a lender SIMPLY because they are recommended by your Realtor, or using the Realtor's affiliated companies. While they have basic knowledge, your Realtor is not a mortgage finance expert! Realtors don't have a clue what LAPP even is... Realtors are trained & licensed to help you buy & sell homes. They are NOT trained in mortgage financing! They may not know what's the best loan for you. The Realtor only gets a commission when your house closes. As a result, the Realtor may refer you to a lender that is sure to close the loan, but not necessarily the lender that has favorable rates or fees. Also, many Realtors refer you to their friends in the loan business--who again may not be able to get the best loan for you. Even if the Realtor is very professional and looking out for your best interest, you should still do homework on your own. Need a VA loan in MN or WI? Visit www.VA-IRRRL-Loan-MN.com

Good Morning! A Realtor is someone who should be well rounded, but particularly skillful in handling real estate sales transactions. I think you should look for a Reatlor Real Estate Professional who works mainly with buyer's and will take time to understand your needs and wants and help to guide you to the best property for showings. They may also have some local tips and opinions to share with you on any other mortgage programs that may not be on the National Level! You can search on the Realtor.com website for a Buyer's Agent by using this link: http://www.realtor.com/realestateagents/. As far as financing, VA Loans are similar to most any other loan, other than they are backed by the United States Government like FHA Insured Loans. The documentation requirement is the same, other than providing proof of your veteran status. The appraisal system uses a lottery format, similar to many other programs which selects the Approved Appraiser from a list of vendors and then the appointment is scheduled. Reviewing the appraisal will be a key element in getting the loan approved. If the appraiser notes any "sub standard" conditions with the property, such as missing railings, peeling paint, etc, the lender will then require that those items be taken care of prior to approving the loan. The items will need to be repaired and the appraiser will then need to perform another inspection to identify these items and that they have been properly corrected. This is where a local real estate professional can really help you not waste any time. They can look for property that is in good condition and "financable" using your VA Loan. They can call the listing agent to get information on the property condition prior to setting up the showings and find out if the seller would be willing to repair any "deficient condition" if an offer is actually made on the property. Knowing this in advance will give you the best chance to have a smooth transaction from start to finish. There may always be bumps in the road, but knowing where they could be, is certainly a great feeling! I'd be happy to work with you on the lending side if you'd like and if not, I wish you a great home buying experience! Have a great day!

Icehou: I think you may find mostly lenders/brokers on Lender411. If you are looking for advice directly from a Realtor, I would suggest Trulia or Zillow. You may get more feedback there...

If you ask most Realtors who they prefer or recommend you'll most likely receive a different response from each. For example; Take my wife for example. She refers every one of her clients to me. Am I the absolute best? She thinks so. You can have a case where the mortgage company has an office within the same office as the Realtor. So all the Realtors in that office would recommend the Loan Officer that's in their office. Also, Realtors refer their clients to people they personally work with. However that specific Loan Officer may not fit your personality at all. I would do research on specific mortgage companies who specialize in VA loans, as you indicated. If a mortgage company is NOT around a military base chances are they're not experts in VA loans. They may close a handful a year, but they do not help VA customers on a daily basis. We are located in Killeen TX, where Fort Hood is. If your not familiar with Fort Hood, it's the largest military base in the world. I'm from Kokomo Indiana as well. So I know Indiana and VA loans very well. Please call me if you need some guidance. Ray at 254-449-7196 or rlewis@englending.com

You are smart to be looking for someone with specialized knowledge of the VA Loan program as the guidelines and origination process have several steps that are somewhat different from a conventional loan. My wife has originated well over 500 VA mortgage loans over the past 10 years, it is her specialty. She works for PrimeLending, a division of PlainsCapital which is a federally chartered bank, so even though she's in Texas she originates loans in almost all 50 states (including Indiana). If you want her help contact Shirley Mueller at 888-795-9850 or https://lo.primelending.com/smueller or read more about her at her Texas specific site http://www.valoanstexas.com/Some people have a preference to work with someone local, which I kind of understand - but the reality is the application, documentation etc. can (and usually is) all be handled securely online these days. Even if your mortgage company is across the street from your closing office, the documents and funds are going to be sent electronically so, in my opinion, it does not matter where your lender is as long as they are competent and able to provide you the right level of service for the type of loan you are getting.