Couldn’t agree more about pushing back on those random fees—sometimes it feels like lenders invent new ones just to see if anyone notices. I’ve had deals where “document prep” or “compliance” charges got slipped in, and when I called them out, suddenly they could “make an exception” and waive them. Funny how that works, right?
On the VA rate question, I’ve noticed lenders sometimes pad the rate a bit to offset those reduced fees or to recoup costs elsewhere. VA loans are supposed to be a perk for vets, but lenders still want their piece of the pie. It’s not always nefarious, but there’s definitely some wiggle room in what they quote. If you’re shopping around, it pays to get everything in writing and compare apples to apples—sometimes the lowest advertised rate isn’t the best deal once you factor in all the closing costs.
It’s a game of numbers, and the folks who question everything usually come out ahead. Don’t be afraid to push back, even if you feel like you’re being a pain... lenders expect it.
It’s a game of numbers, and the folks who question everything usually come out ahead. Don’t be afraid to push back, even if you feel like you’re being a pain... lenders expect it.
Couldn’t agree more with this. I’ve learned the hard way that you really have to dig into every line item. Here’s my usual approach when I’m looking at VA loans (or any loan, honestly):
1. Get the full loan estimate from at least three lenders. Not just a rate quote—ask for the full breakdown.
2. Go through each fee. If something looks weird or vague (like “processing” or “compliance”), I’ll ask what it’s for. Nine times out of ten, they’ll either drop it or give some half-baked explanation.
3. Compare the *total* cost over five years, not just the rate. Sometimes a lender will offer a slightly higher rate but way lower fees, and it actually works out better in the long run.
4. Don’t be shy about saying you got a better deal elsewhere. I’ve had lenders suddenly “find” a lower rate or shave off fees when I mention I’m shopping around.
I do think VA rates have crept up a bit lately, but sometimes it’s just that lenders are less willing to eat costs than they used to be. It’s not always shady, but you gotta keep them honest.
Not sure I totally buy that lenders are just less willing to eat costs now. From what I’ve seen, the VA rates are up because the whole market’s up—like, it’s not just a VA thing. I actually compared with some conventional loans and the gap wasn’t as big as I expected. Maybe it’s more about the overall economy than lenders being stingy? I dunno, but it feels like everyone’s paying more right now, no matter what kind of loan you get.
Maybe it’s more about the overall economy than lenders being stingy?
I’m with you there. Just refinanced last year, and the rates across the board were way higher than I’d hoped, VA or not. It’s not the lenders being greedy, it’s just the market right now. Everyone’s feeling it, no matter the loan type.
I get what you’re saying, but I still wonder if lenders are padding things a bit more than they used to. I refinanced back in the fall, and even with a solid credit score and a decent amount of equity, the VA rates weren’t much better than conventional. It’s wild how much things have shifted in just a couple years.
I know the Fed’s been raising rates, and that trickles down to everything, but it feels like VA loans used to be a safer bet for lower rates. Maybe I’m just remembering the “good old days” through rose-colored glasses... Has anyone noticed if certain regions or lenders are offering better deals lately? Or is it just universally rough out there right now?