Top 5 VA Lenders in Alabama 2019
If you’re an active or retired member of the United States Armed Forces looking to purchase a home in Alabama, there are some amazing mortgage solutions available to you. Alabama is home to almost 5 million people, and with today’s mortgage rates as low as they are, the housing market is ready for serious home buyers. Home values have increased by roughly 7.5 percent between December of 2017 through 2018 and are forecasted to rise another 3.7% through 2019.
The rising home values make it essential for home buyers on the market for a mortgage loan to do everything they can to keep their housing costs as low as possible. Getting a great mortgage would probably be the best place to start. And, since VA loans offer amazing benefits that include low interest rates, zero down payment requirements, no prepayment penalties, and no required mortgage insurance, they’re often some of the most desirable loans for current or ex-military home buyers like you.
In this article, we’ll review the best VA approved lenders in Alabama and how they can help you on your quest to home ownership.
#1 Alabama VA Lender: United Services Automobile Association (USAA)
The United States Automobile Association was originally founded in San Antonio, Texas back in 1922 as a way for Army officers to secure affordable auto insurance, but has since evolved into one of the largest and most trusted banking and lending institutions in the country. The USAA is now a Fortune 500 giant, and the 100th largest corporation in the United States (by total revenue).
When it comes to home finance, there is no surprise that the USAA is one of the biggest VA home loan lenders in the entire country. As a company founded by soldiers almost a century ago, the commitment, respect, care, and dedication to serving the needs of the brave men and women who serve our country has never once wavered.
The USAA has employed expert loan officers who make it their duty to make sure that every loan product, particularly their VA loans, is the best possible mortgage solution for their clients. As a home buyer, there are hardly any lenders who come close to providing such excellent customer care while delivering a mortgage loan that has just the right terms and is still impressively affordable.
#2 Alabama VA Lender: Caliber Home Loans
A relative newcomer to the home finance market, Caliber Home Loans truly hit the ground running -- at top speed. For a company that has only been around since 2013, Caliber has made quite a reputation for itself as one of the top mortgage lenders in the region approved to originate VA mortgages.
The Caliber team is often lauded for their knowledge and sincerity during the mortgage transactions that they conduct. Getting a VA loan can be particularly stressful, but the loan officers at Caliber are well known for keeping their borrowers informed and making sure home buyers never miss a beat during the mortgage transaction.
Home buyers can count on concise, and rapid responses to any questions that may come up during the mortgage process. With their new app, the mortgage preapproval and application process has been made even easier! A stunning dedication to providing home buyers with mortgage loans that are affordable and align with their goals is evident with the glowing pool of user reviews since Caliber’s birth only 6 years ago.
#3 Alabama VA Lender: Prime Mortgage Lending
A relative newcomer to the home loan market, Prime Mortgage Lending sure hasn’t wasted any time in becoming an increasingly popular choice among home buyers seeking mortgage solutions. Prime Mortgage Lending has been around since 2005, but is quickly eclipsing the success of lenders who have been around for decades.
The secret to the popularity of Prime Mortgage Lending lies in the way they conduct their mortgage transactions. The loan officers at Prime are all instructed to provide superior customer service and a personalized experience for each and every client that ends with them obtaining a mortgage that meets the needs of their budget without compromising their financial goals.
Affordability is Prime Mortgage Lending’s strong suit. Since 2005, their primary objective has been to deliver mortgage loans at the most competitive rates in the country, and if their reviews are to be taken into account, they have largely succeeded at doing just that.
#4 Alabama VA Lender: Quicken Loans/Rocket Mortgage
The amazing team over at quicken loans has truly set the standard for the online mortgage experience. Rocket Mortgage (a division of Quicken Loans) and Quicken Loans have made the otherwise long and tedious process of VA financing as simple and straightforward as possible.
The online VA loan process is highly geared towards a more streamlined user experience. Progress on the status of an VA loan application can be easily tracked online, and there are even specialists standing by to help with any issues that may arise during the transaction including any that deal with an applicant’s Certificate of Eligibility.
The service even keeps applicants posted with any documentation they may have forgotten or still need to provide. The really impressive part happens to be the support staff that can be reached by phone or through the website that is always standing by to offer their advisory services and answer any questions a potential borrower may have.
#5 Alabama VA Lender: Fairway Independent Mortgage Corporation
A rapidly growing name in the national home finance industry, Fairway Independent Mortgage Corporation is one of the best options for VA financing across the country. Veteran home buyers nationwide will agree that it’s actually pretty easy to find a Fairway location when its time to get a home loan. In addition, their customer service is well known to be top notch.
Fairway Independent Mortgage Corporation has stunning reviews from its client base over the years. One thing they seem to excel in is cutting down the closing costs that borrowers are expected to pay at the end of a mortgage transaction, as well as facilitation a faster closing.
Fairway may very well be the best option for first time home buyers on this list. Their attention to detail and completely transparent methodology is perfect for obtaining an VA loan at a great rate in a non-rushed and stress-free environment.
Shop Around Before You Get an Alabama VA Loan
Our picks for the best VA lenders in Alabama may not necessarily represent the best lender for your financial situation, goals, and desires. Everyone’s story is unique, and sometimes the best mortgage terms can be found in the most obscure places. Regardless of experience or lack thereof, the best plan of action is to shop around with multiple lenders to find out which one can provide the ideal mortgage solution that comes with the terms and affordability that best suits any particular financial situation.
While looking at reviews can be a huge help, getting a one on one consultation could mean saving thousands. If you’d like some help in locating the best VA lender in your area, don't hesitate to contact a home.loans mortgage expert!