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Mortgages by Mind Map: Mortgages

1. Interest rates range anywhere from 4.375% for a VA Loan to as high as 5.250% for a first time home buyer loan

2. USAA BANK

2.1. USAA offers a wide variety of mortgages that can allow customers to purchase a home or property. This company offers several different types of loans ranging from conventional mortgages that require a 5% down payment, to a VA mortgage that requires zero money down.

2.2. USAA is a organization that is known for being very military friendly and is the primary banking and mortgage company for many active duty and veterans due to the competitive interest rates.

3. All three companies offer almost the same services and all are very well established and all would be good businesses to get a mortgage through, but for me Navy Federal offers the lowest interest rates for a VA loan which I would use for a 30 year fixed mortgage rate. Being a current Active Duty military member means that I qualify for a VA Loan which is why I prefer to do business with a company that deals primarily with current and retired service members. There is certainly nothing wrong with a Wells Fargo or another large bank and they all offer VA loans, but the primary difference in this case is that Navy Federal and even USAA both offer a slightly lower interest rate than Wells Fargo. There are some differences that these military friendly companies offer that others do not which is my myself and several other military membrs try to do business with them first.

4. NAVY FEDERAL

4.1. Navy Federal Credit Union is an organization that is very military friendly and offers many of the same mortgages that USAA offers such as VA and Conventional loans.

4.2. Navy Federal offers a loan that is 100% financed that is non-VA which is a service that neither of the other two organizations offer their customers.

4.3. For my family and I, Navy Federal is the organization that we would choose to be our mortgage lender since they offer VA and their interest rates are the lowest of the three companies as well at 4.149%

5. WELLS FARGO

5.1. Interest rates vary from 4.3% to 5.5% and in some cases, Wells Fargo offers adjustable interest rates for those customers who are interested in getting a mortgage for a short period of time.

5.2. Wells Fargo provides mortgage officers to customers who choose to use them for a loan.

5.3. Wells Fargo is a well established organization, with a long history and much like USAA, they offer Conventional and VA loans to customers.