Go Back  Airline Pilot Central Forums > Pilot Lounge > Money Talk
Looking for lender in Virginia Beach/Norfolk >

Looking for lender in Virginia Beach/Norfolk

Notices
Money Talk Your hard-earned money

Looking for lender in Virginia Beach/Norfolk

Old 07-10-2023, 01:18 PM
  #1  
Gets Weekends Off
Thread Starter
 
Swakid8's Avatar
 
Joined APC: Apr 2015
Posts: 2,299
Default Looking for lender in Virginia Beach/Norfolk

Hey everyone

My wife and I are looking to move into a bigger place from our condo. Looking for suggestions on local lenders in the Virginia Beach/Norfolk area. Thanks!
Swakid8 is offline  
Old 07-10-2023, 02:37 PM
  #2  
Gets Weekends Off
 
CX500T's Avatar
 
Joined APC: Nov 2017
Position: NYC 320A
Posts: 1,620
Default

Originally Posted by Swakid8 View Post
Hey everyone

My wife and I are looking to move into a bigger place from our condo. Looking for suggestions on local lenders in the Virginia Beach/Norfolk area. Thanks!
Sam Hill
+1 757-754-0326

Will pm full contact when I get to hotel.
CX500T is offline  
Old 07-16-2023, 05:55 PM
  #3  
Gets Weekends Off
 
Joined APC: Dec 2017
Position: Retired NJA & AA
Posts: 1,824
Default

Originally Posted by Swakid8 View Post
Hey everyone

My wife and I are looking to move into a bigger place from our condo. Looking for suggestions on local lenders in the Virginia Beach/Norfolk area. Thanks!
Are you qualified for Navy Federal Credit Union?
AirBear is offline  
Old 07-20-2023, 06:18 PM
  #4  
In a land of unicorns
 
Joined APC: Apr 2014
Position: Whale FO
Posts: 6,210
Default

Jon Kulak at Trident Home Loans, [email protected]

Southwest pilot. He understands everything about mil and pilot loans. On my first mortgage through them, I just sent him a copy of our CBA and he translated that to the underwriters. Highly recommended.
dera is offline  
Old 07-21-2023, 02:38 AM
  #5  
Gets Weekends Off
 
Joined APC: Sep 2022
Posts: 679
Default

The above are probably good options.

Alternatively, look for small banks that have relatively few branches and you can talk to someone who has decision making power. Ask if they offer portfolio loans. This means that the bank actually keeps the loan rather than selling it to someone else. Itís kind of a homebuilt vs certificated loan Ö they can base decisions on engineering and physics and common sense, and not some arbitrary certification rule. The terms will not be as favorable as a standard 30 year mortgage, but they will be much more flexible.
Brickfire is offline  
Old 07-22-2023, 08:06 AM
  #6  
Gets Weekends Off
 
Joined APC: Aug 2010
Position: N/A
Posts: 550
Default

Originally Posted by Swakid8 View Post
Hey everyone

My wife and I are looking to move into a bigger place from our condo. Looking for suggestions on local lenders in the Virginia Beach/Norfolk area. Thanks!
You might look at the American Airlines Credit Union. You donít have to work for AA. I got my mortgage with them 21 years ago. A nice feature is that you can pay 1% of the outstanding loan balance and they reset your interest rate to the current rates. I did that twice on my mortgage as rates dropped over the years. It is very simple, takes maybe an hour and they send a notary to your house. And it doesnít change the remaining number of payments. So I still have 9 years years left on my loan, despite lowering the interest rate twice. Obviously they are used to dealing with pilots.
Duckdude is offline  
Old 07-25-2023, 03:27 PM
  #7  
Line Holder
 
nukem's Avatar
 
Joined APC: May 2014
Posts: 30
Default

Originally Posted by AirBear View Post
Are you qualified for Navy Federal Credit Union?
I have used Navy Federal twice since 2020 and highly recommend them.
nukem is offline  
Old 07-25-2023, 05:41 PM
  #8  
Gets Weekends Off
 
Joined APC: Feb 2008
Posts: 18,539
Default

Originally Posted by Duckdude View Post
You might look at the American Airlines Credit Union. You donít have to work for AA. I got my mortgage with them 21 years ago. A nice feature is that you can pay 1% of the outstanding loan balance and they reset your interest rate to the current rates. I did that twice on my mortgage as rates dropped over the years. It is very simple, takes maybe an hour and they send a notary to your house. And it doesnít change the remaining number of payments. So I still have 9 years years left on my loan, despite lowering the interest rate twice. Obviously they are used to dealing with pilots.
You can keep the payoff time the same on any loan. Just adjust your payment to pay the loan off in the same time as the original loan. A side benefit is the ability to pay much less if you lose your medical or have other issues.
sailingfun is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
Tiggerpilot
United
12
05-05-2017 05:26 PM
Future Cpt Kirk
Part 91 and Low Time
1
06-30-2015 11:23 AM
jetson
Flight Schools and Training
3
09-10-2014 01:37 PM
FlyArmy11
Hiring News
0
08-03-2007 10:42 AM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread