VA Mission - Stop Predatory Lenders
VA Mission - Stop Predatory Lenders
Veterans deserve better. They’ve served our country, and yet many find themselves unfairly treated when it comes to VA loans. Predatory practices by lenders are costing veterans thousands of dollars, and it’s time we put an end to this. If you or someone you know is eligible for a VA loan, this is information you can’t afford to miss.
Let’s talk about what’s going on, why it matters, and what you can do about it.
Veterans Are Being Overcharged - Here’s How
Most people think the Department of Veterans Affairs (VA) sets the rates for VA loans. That’s not true. Instead, lenders determine the rates and fees, and this is where things often go wrong.
Some lenders are blatantly overcharging veterans through high interest rates and unnecessary fees.
Here’s an example that was shared recently: One of the nation’s largest VA lenders was offering an interest rate of 6.99%, paired with $3,500 in lender fees. In contrast, another lender was offering a 6.125% interest rate with zero lender fees - the same loan, but drastically different costs. Why does this happen? Simple. Because they can.
Lenders know many borrowers don’t shop around for rates and fees, especially veterans who trust that they’re being taken care of. But the truth is, many are being ripped off, and the consequences can be financially devastating.
Why This Issue Hits So Hard
Living costs are sky-high these days. Inflation, housing prices, and everyday expenses are all piling up. For veterans, being saddled with inflated loan costs only makes it harder to make ends meet. A higher interest rate can cost tens of thousands of dollars over the life of a loan - money that could’ve gone toward building a secure future.
It’s particularly painful because in the examples mentioned, borrowers didn’t get any additional value. It was the same loan, but one came with a higher price tag. Paying for no extra benefit is unfair, especially for those who’ve fought for our freedoms.
How Veterans Can Protect Themselves
The solution starts with awareness. If you or someone you know is considering a VA loan, take this advice to heart:
- Shop Around – Never settle for the first rate or offer you’re given. Compare rates and fees from multiple lenders.
- Ask Questions – Don’t shy away from asking about fees and negotiated rates. You have the right to transparency.
- Get a Second Opinion – If you’re unsure whether you’re being overcharged, call or text me and I will take a look (786) 933-2077
- Spread the Word – Share this advice with your friends, family, and military groups. The more people who know, the harder it becomes for predatory lenders to operate unchecked.
Real Help Is Available
Not all lenders are out to take advantage of veterans. Some are genuinely committed to providing fair, transparent options. For instance, we often review loan estimates free of charge and offer honest advice—whether you work with us or not. We will even tell you if another lender’s deal is better. We want good lenders in the business and bad lenders gone.
If you’re unsure where to start, give us a call at (786) 933-2077 or visit my site, zerostressmortgage.com. Veterans shouldn’t have to navigate this alone. Trusted experts can straighten out the confusion and ensure you’re not getting taken advantage of.
The Bigger Picture - Let’s End This
This isn’t just about loan rates. It’s about respect. Veterans deserve respect in every aspect of their lives, including their finances. By spreading awareness and encouraging everyone to shop rates and fees, we can make headway in combating these predatory practices.
Next time you hear someone talking about a VA loan, don’t just let it slide. Speak up. Remind them to compare rates, avoid hidden fees, and get a second opinion. It’s a small action that can save someone thousands of dollars.
Veterans have given so much to our country. The least we can do is ensure they aren’t exploited financially. By standing together, we can protect their hard-earned money and send a clear message to predatory lenders: enough is enough.
Jennifer Beeston
SVP Mortgage Lending @ Guaranteed Rate
Phone: 786-933-2077
Apply For Mortgage: www.zerostressmortgage.com
Resources To Learn More:
Youtube Thousands of Mortgage and Real Estate videos: www.youtube.com/jenniferbeeston
Free VA Loan Course: www.nostressva.com
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