Competitive Home Lending Offers Huge Advantages for VA Loan Borrowers

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Mar 08, 2023, 16:06 ET

VA approved mortgage broker goes the extra mile for veterans during a time of rapidly increasing mortgage rates.

ALLEN, Texas, March 8, 2023 /PRNewswire/ -- Competitive Home Lending, a Texas mortgage broker, expands home buying benefits for Veterans by increasing purchase power, reducing mortgage payments, and offering VA one-time close construction loans. Veterans looking to buy a home can take advantage of a wholesale VA mortgage rate that makes homeownership more affordable.

Affordable Veteran homeownership. JacobLund/shutterstock.com

Veterans are leveraging the difference between a retail and wholesale VA mortgage rate to improve home buying power. Wholesale rates can be between 25 to 50 basis points lower than retail rates which allows Veterans to maintain the same home loan payment but increase their home purchase price. Competitive Home Lending is showing Veterans how to use the difference between a retail rate and a wholesale rate to reduce or eliminate any cash needed for closing on their VA home loan.

Current wholesale VA loan rates.

Additionally, Competitive Home Lending is adding one-time close construction VA loans to expand the purchasing options for Veterans. The VA construction loan allows Veterans to build a custom home and even allows for the purchase of the land. Homebuilders can work with Competitive Home Lending and gain an opportunity to assist more Veteran homebuyers while reducing their financial risk during the construction period.

New construction project approval.

Through wholesale pricing from the nation's best VA mortgage lenders, Veterans will never pay a retail mortgage rate for their home loan. "We are excited to offer these incredible benefits to our Veterans. Competitive Home Lending recognizes the sacrifice and service of our Veterans and wants to do everything possible to make homeownership more accessible for them," said Raul Hernandez, Mortgage Broker of Competitive Home Lending.

Competitive Home Lending is also expanding homeownership with lower credit score requirements for Veterans. Approximately 15% of Americans have a credit score below 600 which can prevent Veterans from taking advantage of the VA home loan benefit. Competitive Home Lending offers 100% financing of the home's purchase price with credit scores as low as 500.

Minimum credit score needed for a home loan.

About Competitive Home Lending

Competitive Home Lending is a VA approved wholesale mortgage broker specializing in affordable VA loans to help Veterans achieve their dream of homeownership. For more information, visit Competitive Home Lending – NMLS #1047944.

SOURCE Competitive Home Lending