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LawTalk
LawTalk, Attorney
Category: Real Estate Law
Satisfied Customers: 35348
Experience:  I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.
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Who sets the rate for VA mortgage? Do different lenders have

Customer Question

Who sets the rate for VA mortgage? Do different lenders have different rates?
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  LawTalk replied 2 months ago.

Good morning,

I'm Doug, and I'm very sorry to hear of your situation. My goal is to provide you with excellent service today.

Unlike what might be expected, the VA does not set the mortgage rates for lenders. In fact each lender sets its own rate based on information that they receive from Government National Mortgage Association (Ginnie Mae) based on the Ginnie Mae bond that is traded throughout the day and effects the mortgage rate of VA loans.

While the rate does vary very slightly between lenders, the differences between one lender and another are generally extremely close.

Here is an article on this phenomenon: http://www.military.com/money/va-loans/home-purchase/how-do-va-loan-rates-move.html

You may reply back to me using the Reply link and I will be happy to continue to assist you until I am able to address your concerns, to your satisfaction.

I hope that I have been able to fully answer your question. As I am not an employee of JustAnswer, please be so kind as to rate my service to you. That is the only way I am compensated for assisting you. Thank you in advance.

I wish you and yours the best in 2016,

Doug

Expert:  LawTalk replied 2 months ago.

Good morning,

It is possible that your questions and issues might be better served by an in-depth conversation with me. If you are interested, for a very nominal charge I can offer you a private phone conference.

Please know that I answered your question in good faith, providing you with the information that you asked for, and I did that with the expectation that you would act likewise and rate my service to you. If I have already provided you with the information you asked for and you have no additional questions, would you please now rate my service to you so I can be compensated for assisting you?

Thanks in advance,

Doug

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