Consumers Helping Consumers

Mortgage Broker Unaware of My Eligibility in a Special Program
C.P., Former U.S. Army Specialist, Texas

I met with a mortgage broker about a home loan. He asked a lot of questions and I told him of my prior service. He didn't mention my ability to get a VA loan. I went to another broker who said the VA loan was the best for me.

I called the other one back and asked why he didn't mention the VA loan. He said he knew of other programs that were just as good, but based on what the new broker told me, they weren't.

Equal Home Finance Bureau Comment: There are a number of programs available for people based on your down payment level, your veteran status, being a first- time buyer, and even geography. Being better educated into what's possible may help you understand if your mortgage broker is doing what he or she should be in your best interest.

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