1. Where do Veterans Administration loans fit into Red River Bank Mortgage's offerings?
  2. How does Red River Bank Mortgage's Louisiana community focus come through with a product like this?
  3. Is your ability to close VA loans more quickly a factor of local decision-making?
  4. What are the major advantages of a VA loan?
  5. Do you recommend VA loans to all veterans?
  6. You've mentioned that most VA customers are already somewhat familiar with the product. Are there any common misconceptions?
  7. What's necessary to qualify for a VA loan?
  8. Any advice for getting started?
Q: Where do Veterans Administration loans fit into Red River Bank Mortgage's offerings?
AP: VA loans are a great product for eligible active and military veterans. We're proud to be a part of the process—it's an honor to serve people in our community who serve our country and protect our freedom.
JH: It's great to be able to offer this product with Barksdale Air Force Base just six miles down the road. Whenever the B-52s fly over, everybody here calls it the "sound of freedom".
Q: How does Red River Bank Mortgage's Louisiana community focus come through with a product like this?
AP: Faster closings are a really important advantage we can offer. We typically are able to close more quickly than other lenders.
Q: Is your ability to close VA loans more quickly a factor of local decision-making?
AP: That's part of it, yes. Because we have in-house processing and in-house underwriting, we get faster decisions. Our service plays a part in that, too. Streamlined service makes the process smoother and gets our customers to closing more quickly.
Q: What are the major advantages of a VA loan?
JH: It's 100% financing, so there's no down payment required.
AP: Another advantage is there's no mortgage insurance.
Q: Do you recommend VA loans to all veterans?
AP: We take a more consultative, big-picture approach. Whether a VA loan is the best route depends on a number of factors.
JH: In many cases the VA loan is the answer, but in other scenarios we might make another recommendation.
Q: You've mentioned that most VA customers are already somewhat familiar with the product. Are there any common misconceptions?
JH: A lot of people think you can only get a VA mortgage once. Actually, you can get a VA loan for houses after that, but the funding fee is a little bit higher—and it has to be your primary residence.
Q: What's necessary to qualify for a VA loan?footnote 1
AP: Active or military veterans qualify.
JH: You just need an honorable discharge form or to have been in the National Guard for seven years.
Q: Any advice for getting started?
JH: It's a great option for 100% financing on a primary residence—just come in and let us look at all your options and see what works best for you.

Disclosures

  • Subject to credit and property approval. Other restrictions and limitations apply.

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