Anybody have experience with PenFed for a VA loan? Came up in a search and their rates are extremely competitive. Any reason I shouldn't take the lowest bidder?

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A difference of .5% in your interest rate saves you maybe $15-20k. That’s over 30 years so that’s less than $100/month. Will PenFed keep your loan or will they sell it to someone else? Are you okay with dealing with another bank or do you want PenFed? What are the closing costs? What are some lender credits?

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One lender charges $1,195 in fees.
The other lender offered $7,007 in credits.

Go with the lowest. Mortgage companies will sell your loan anyway, so you’ll end up with a different company.

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If closing is a concern then use a local mortgage broker. I tried refinancing with penfed and it was a terrible process.

I have PenFed. They’ve been solid. Wont sell off your loan.

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Check out AmeriSave, they will help you find the best deal.

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I haven’t used them yet, but I’ve decided to and my loan agent is incredibly responsive, which has been key to getting bids out. I also really like that they’re averaging 20 day closes for VA loans, making us more competitive.

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Well that escalated

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I would love to see a partner send an email like this to a client who chose another firm.

May as we'll say, "But...I thought we were friends!"

I recommended she automate more of her processes to prevent unnecessarily attending time away from family.

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Closed with them a couple of weeks ago. Their communication can be spotty but we closed on time with no issues.

Thanks everybody. Good to have some positive reviews. Got for estimates and they were the best, so going with them.

Ask the local lender if they can match.

$8k in lending fees? That is robbery. I only has to pay the appraisal fee.

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