VA Loan Captain Review

ByTop10.com StaffJul. 15, 2020

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In a Nutshell

Finding a VA lender that fits your needs can be a trying experience. Comparing companies rates and quotes is difficult and time consuming. VA Loan Captain takes the stress and guesswork out of the equation by comparing rates for you across a number of approved VA home lenders.

pros

  • Gives you rates from a number of trusted VA lenders
  • Provides customized rates to meet your needs
  • Vettes all approved lenders to ensure quality for its customers

cons

  • Eligibility is required to qualify for a VA loan
  • Subject to a funding fee

VA Loan Captain at a Glance

Direct lender or marketplace Marketplace
Loan types Purchase and Refinance
Featured Loan VA Loan
Repayment terms Up to 30 years 
Minimum Down Payment $0
Minimum Credit Score None 
Best for Eligible veterans/Military that are first time home buyers or refinancing

Overview

VA home loans provide eligible military personnel with an affordable loan option. VA Loan Captain helps buyers choose the best lender by comparing rates side by side instantly. With no down payment required, low interest rates and no maximum loan limit -VA loans are the ideal choice for any eligible military or veteran homebuyer. 

Best For?

Since VA loans were created by the federal government for veterans and military personnel, it stands to say that they are indeed the buyers that can and will benefit from this loan type. However, there are certain requirements that one must meet to qualify for these benefits. To name a few; you have to be a veteran, active military or a part of the national guard. In addition you must receive a certificate of eligibility for a VA direct home loan. You can read all of the requirements for your COE here

Types of Loans/Products

VA Loan Captain is a multi lender marketplace that allows future buyers to see rates from several lenders at once. VA loans are available through most mortgage lenders and banks, however the process of researching and finding rates for each lender is removed by using a VA marketplace such as VA Loan Captain.

  • Credit Required: None but being Between 580 and 620 is usually ideal
  • Interest Rate: As low as 2.75% for some lenders
  • Zero Down Payment
  • Loan Terms up to 30 years

The Application Process

VA Loan Captain educates you through the entire process of choosing the right lender to meet your home buying needs. Once you have set your budget and gained your COE (certificate of eligibility ), you can then head over to VA Loan Captain and select a lender. All lenders that are suggested by VA Loan Captain have at least 5 years of experience working with VA loans are VA approved. Once you have selected your lender you can then begin your home buying or refinancing journey feeling fully confident in your chosen VA lender. 

Rates and Fees– The Bare Basics 

VA Loan Captain does a tremendous amount of leg work when it comes to the process of helping you pick a VA lender. However it’s the lender that will incur the fees from VA Loan Captain, not the buyer.  As for VA loans themselves there is no downpayment, competitively low interest rates starting at 2.75% and no minimum credit score to qualify

Repayment Terms

Va loans can range up to a 30 year loan term depending on your chosen lender. Check with your lender to find a repayment term that fits your needs and if you are subject to any penalties if you pay off your loan early. 

Help & Support

VA Loan Captain wants to instill confidence in home buyers and educate them on every aspect of the VA loan process. If more assistance is needed you can contact VA Loan Captain through this form located on their website in the upper right hand corner labeled “Speak to a Representative”.  For a quick answer to your VA loan problems visit VA Loan Captains FAQ’s page

Summary

VA Loan Captain provides a VA loan market place comparing top lenders and matching them with VA loan eligible home buyers. Be aware that not every will qualify for a VA loan and should obtain a certificate of eligibility before pursuing a VA loan. VA loans have an array of benefits for qualified personnel including; no down payment, competitively low interest rates, and no minimum credit score to qualify. VA loans can be an ideal choice for a first time homebuyer or an experienced home owner looking to upgrade their existing property through the VA loan refinance option. 

FAQ

  • Is Anyone Eligible For a VA Loan? There are certain eligibility requirements that must be met to take advantage of the VA loan option. You can find these requirements here
  • Is the VA Loan Captain a lender? No, VA Loan Captain is not a direct lender. They act as a marketplace where you can compare rates from top lenders and choose your VA lender based on your needs. 
  • How Can I get The Lowest Possible Interest Rate Available? A homebuyer’s interest rate is calculated based on a range of dependents. This includes your financing amount, your credit history, DTI ratio and credit score. 
  • Are There Any Exceptions To VA Loan Eligibility? While this loan option does have strict eligibility requirements there are some exceptions depending on hardship and other challenges. See here for more information regarding gaining a certificate of eligibility.