Not so fast Navy Federal Credit Union!

Not so fast Navy Federal Credit Union –  Future military home owners looking to get a VA loan should read this article in its entirety before making a decision on a lender. If you’ve already purchased your home perhaps you can relate to what I am about to say.

I was “ordered” if you will, to write this blog from a service member who felt it was important to share his story. He shall remain anonymous for obvious reasons.

When a Naval officer got the exciting news that he was transferring to San Diego on PCS orders from the east coast, he immediately took one look at the housing market and decided to buy instead of rent. At that time, he owned two properties and felt confident hiring me as his real estate agent. I quickly found a property and got his offer accepted in a very competitive sellers market.  We got into escrow without the buyer setting foot on the property. So far, so good.

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Then, the service member decided to use Navy Federal as the lender for the purchase out of a “sense of loyalty.” It was against my advice because we had a closing deadline to meet. The buyer wanted to relocate from out of state and move directly or thereabouts into his new home.

Within a week of opening escrow with Navy Federal, the problems started. The appraisal took what seemed like forever to get ordered and things went down hill from there. The constant delays, high fees and internal company red tape caused my buyer almost daily anger and frustration. His breaking point came when Navy Federal made it a condition of the loan that his wife open an account with the credit union. Now the situation became really personal. My client wrote a scathing email to Navy Federal threatening to take his business elsewhere. Make no mistake, he was serious and was even ready to cancel the whole deal.

Hearing from my client the words, “You were right, I should have gone with another lender,” somehow offered no sense of satisfaction whatsoever because it came with a lot of disappointment. It wasn’t until the day of closing that I finally understood the overwhelming betrayal my client was feeling.

While taking a moment to look back at when we started the journey over a bowl of yogurt, my buyer shared with me his experience of serving in Afghanistan. I could hear the sacrifice that he and so many have given for our country. His bravery was unquestionable as he talked about looking over his shoulder every second and doing what it took to stay alive and come home. It’s simple. All our men and women want that have served, is for our country to understand and acknowledge their sacrifice. My client believed that Navy Federal more than any other lender would provide a service that adequately met his needs and more importantly understood his sacrifice to our great nation.

If you’re thinking of buying a home, please heed the advice of my military homeowner – you owe it to yourself to compare and find the VA lender that best meets your needs.

Lorraine Santirosa is a San Diego real estate agentand advocate for military families.

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We serve all branches of the military whether you’re Army, Air Force, Navy, Marines, or Coast Guard. We even have experience in dealing with border patrol and prison workers.  The site will address relevant information pertaining to home buying, selling, financing and mortgage relief options. We do not at this time have the ability to help those looking for rental properties but we encourage all our users to compare the option of buying vs. renting to see which one makes more sense.

We’ve gathered all the key information you will need to satisfy your off base housing needs based on our years of working with the military community.

3 Responses to “Not so fast Navy Federal Credit Union!”

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  1. time now says:

    Unless a really great offer comes your way, anyone who is eligible for a VA loan would be well
    advised to take full advantage of the opportunity. To see a complete list of eligibility requirements please check the VA
    web site. In fact you can request that the seller
    pay up to 6% for the buyers costs and fees. The quickest way to understand a secure loan is
    to think of a mortgage loan because the house is physically
    representative of something the bank owns until the
    loan is payed in full. These funds can be used for
    down-payment assistance, closing costs (or offset), even cash back.


  1. […] for closing costs or upgrades if they use their partnered lender.  I recommend reading my blog “Not so fast Navy Federal Credit Union” before considering NFCU or USAA for a VA […]

  2. […] for closing costs or upgrades if they use their partnered lender.  I recommend reading my blog “Not so fast Navy Federal Credit Union” before considering NFCU or USAA for a VA […]

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