Loan Guaranty (LGY) Home Loan Survey

VA_Surv3_LGY_5.19.16_v3 5/19/16 2:07 PM Page 1

Loan Guaranty
Enrollment Satisfaction
MARKING INSTRUCTIONS
Please fill the response oval completely
and print clearly.

USE BLACK OR BLUE INK
(NO RED) to complete the survey.

CORRECT:

INCORRECT:

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3

OMB Control No. 2900-0782

Throughout the questionnaire, you may be asked to skip certain questions that may not apply to you.

Benefit Information
1.

2.

How would you like to receive information from VA about applying for your home loan Certificate of Eligibility? (MARK ALL THAT APPLY)

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Phone
Mail
E-mail
VA website

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Social media websites (e.g., Facebook, Twitter, etc.)
In person with a VA representative (e.g., VA medical center,
VA Vet Center, Regional Office, etc.)

Lender
Real estate agent
Home builder

Veterans Service Organizations (e.g., Amer. Legion,
DAV, VFW, PVA, MOPH, etc.) (Please specify): ________________________

To the best of your knowledge, was all of the information that VA provided to you about your Certificate of Eligibility correct?
(MARK ONLY ONE)

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Yes

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No

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Don’t know or not sure

The following question asks you to rate various aspects of your experience with VA home loans using a scale of 1 to 10 where
1 is Unacceptable, 10 is Outstanding, and 5 is Average.
3.

When thinking about your most frequently used methods of communication, please rate your experience in obtaining information
about your certificate of eligibility (COE) application on the following items: (MARK ONLY ONE PER ROW)
Unacceptable
1

a.
b.
c.
d.
e.
f.

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Ease of accessing information
Availability of information
Clarity of information
Usefulness of information
Frequency of information provided by VA
Overall rating of information

2

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Average
3

£
£
£
£
£
£

4

¢
¢
¢
¢
¢
¢

5

∞
∞
∞
∞
∞
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Outstanding
6

§
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§
§
§

7

¶
¶
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8

•
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9

ª
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10

‚
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N/A

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NA
NA
NA
NA
NA

© 2016 J.D. Power and Associates. All Rights Reserved.

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VA_Surv3_LGY_5.19.16_v3 5/19/16 2:07 PM Page 2

Benefit Eligibility and Application Process
4.

5.

Please answer the following questions based on your most recent home-buying experience.
Through what method did you use to apply for your COE? (MARK ONLY ONE)
Obtained on my own through eBenefits.va.gov
Through the mail from VA
Obtained through my lender
In person at a Regional Loan Center

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VA website
Don’t know or not sure

After your application was submitted for a COE, did VA contact you or your lender to request additional information for your
application (e.g., character of service, length of service documents, etc.)? (MARK ONLY ONE)

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6.

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Yes

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No

Don’t know or not sure

From the time your COE application was submitted, how long did it take to receive your COE? (MARK ONLY ONE)

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Immediately
Less than 3 business days

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3 to 5 business days
More than 5 business days

Don’t know or not sure

The following question asks you to rate various aspects of your experience with VA home loans using a scale of 1 to 10, where
1 is Unacceptable, 10 is Outstanding, and 5 is Average
7.

Please rate your experience with the VA COE application process on the following items: (MARK ONLY ONE PER ROW)
Unacceptable
1

a.
b.
c.
d.

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Ease of completing the application
Timeliness of receiving COE
Flexibility of application methods
Overall rating of application process

2

Average
3

™
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£
£
£
£

4

¢
¢
¢
¢

5

∞
∞
∞
∞

Outstanding
6

§
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§
§

7

¶
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8

•
•
•
•

9

ª
ª
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10

N/A

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NA
NA
NA

Benefit Entitlement
As a reminder, your responses will be kept completely confidential and will not affect any current or future benefits you may receive.
8.

9.

When you obtained your current mortgage, was it to…? (MARK ONLY ONE)

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Purchase a new or existing home (SKIP TO Q10)

Refinance an existing loan

What type of loan refinancing did you obtain? (MARK ONLY ONE)

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Streamlined (interest-rate reduction)

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Home equity (cash-out)

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10.

Did you make a down payment on your VA home loan? (MARK ONLY ONE)

11.

Why did you make a down payment on your VA home loan? (MARK ALL THAT APPLY)

12.

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Home price was too high
Appraisal value was lower
than purchase price

Don’t know or not sure

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Yes

No (SKIP TO Q12)

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Low credit score
Lender requirement

Lower monthly payment
Don’t know or not sure

Desire to establish equity

Did you pay a funding fee for your VA home loan? (MARK ONLY ONE)

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Yes

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No

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Don’t know or not sure

The following question asks you to rate various aspects of your experience with VA home loans using a scale of 1 to 10 where
1 is Unacceptable, 10 is Outstanding, and 5 is Average.
13.

Please rate your home loan benefit on the following items: (MARK ONLY ONE PER ROW)
Unacceptable
1

a.
b.
c.

2

Average
3

4

5

Outstanding
6

7

8

9

10

N/A

¡ ™ £ ¢ ∞ § ¶ • ª ‚ =
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Amount of guaranty
Timeliness of receiving benefits
Overall rating of benefit

NA
NA

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VA_Surv3_LGY_5.19.16_v3 5/19/16 2:07 PM Page 3

Overall Application Experience
14.

Thinking about ALL aspects of your experience in obtaining a VA home loan, please rate the VA Home Loan Program overall,
using a scale of 1 to 10 where 1 is Unacceptable, 10 is Outstanding, and 5 is Average. (MARK ONLY ONE)
Unacceptable

Average

Outstanding

¡ ™ £ ¢ ∞ §¶ • ª ‚
1

2

3

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5

6

7

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9

10

Overall Experience With VA
15.

Taking into consideration all of the non-medical benefits (e.g., education, compensation, pension, home loan guaranty,
vocational rehabilitation and employment, insurance, etc.) you have applied for or currently receive, please rate your experience
with VA overall, using a scale of 1 to 10 where 1 is Unacceptable, 10 is Outstanding, and 5 is Average. (MARK ONLY ONE)
Unacceptable
Average
Outstanding
1

2

3

4

5

6

7

8

9

10

¡ ™ £ ¢ ∞ § ¶ • ª ‚
16.

Now think about your experiences with all the services provided by the Department of Veterans Affairs (which include healthcare,
benefits programs, or memorial services). Please tell us how you feel about the following statements. (MARK ONLY ONE PER STATEMENT)
Strongly
Disagree
a.
b.
c.

I got the service I needed
It was easy to get the service I needed
I felt like a valued customer

d.

I trust VA to fulfill our country’s commitment to Veterans

Disagree

Neutral

Agree

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£
£
£
£

¢
¢
¢
¢

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Strongly
Agree

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Loan Process
17.

18.

Did any of the following people discourage you from using your VA home loan benefit? (MARK ALL THAT APPLY)

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Realtor
Lender
Broker

Builder affiliated lender
Home builder
Other (Please specify): _____________________________

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Don’t know or not sure (SKIP TO Q21)
I was not discouraged (SKIP TO Q21)
Not applicable (SKIP TO Q21)

Why did they discourage you from using your VA home loan benefit? (MARK ALL THAT APPLY)

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Would be easier or cheaper to obtain a conventional FHA loan
Process for obtaining a VA home loan would take too long
Seller would not sell home to a VA-finance borrower

Home did not meet VA property requirements
Other (Please specify):___________________________________
Don’t know or not sure

The VA eligibility process would take too long or is too complex

19.

Did they discourage you from using your VA home loan benefit on your…? (MARK ONLY ONE)

20.

When you were discouraged from using your VA home loan benefit, was the loan you were applying to…? (MARK ONLY ONE)

21.

Most recent home loan

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Purchase a new or existing home

Previous home loan

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Refinance an existing loan

Don’t know or not sure

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Don’t know or not sure

Please rate your experience with your lender regarding the home loan application and approval process, using a scale of 1 to 10
where 1 is Unacceptable, 10 is Outstanding, and 5 is Average. (MARK ONLY ONE PER ROW)
Unacceptable
1

a.

Variety of loan options to choose from

b.

Competitiveness of interest rates offered

c.

Ease of completing loan application

d.

Length of time from loan application to final approval

e.

Reasonableness of the amount of supporting documentation required

f.

Reasonableness of all fees paid at application

g.

Overall rating of application/approval process

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Average
3

£
£
£
£
£
£
£

4

¢
¢
¢
¢
¢
¢
¢

5

∞
∞
∞
∞
∞
∞
∞

Outstanding
6

§
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7

¶
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¶
¶
¶
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8

•
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•
•
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•

9

ª
ª
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ª
ª
ª
ª

10

‚
‚
‚
‚
‚
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N/A

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NA
NA
NA
NA
NA

NA

© 2016 J.D. Power and Associates. All Rights Reserved. 3

Page 3

VA_Surv3_LGY_5.19.16_v3 5/19/16 2:07 PM Page 4

Loan Process (Continued)
22.

Please rate your experience with your loan officer/representative regarding the home LOAN/REFINANCE PROCESS on the following items,
using a scale of 1 to 10 where 1 is Unacceptable, 10 is Outstanding, and 5 is Average. (MARK ONLY ONE PER ROW)
Unacceptable
Average
Outstanding
1

a.
b.
c.
d.
e.
f.
23.

¡
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Knowledge of loan officer/representative
Courtesy of loan officer/representative
Representative’s responsiveness to questions
Representative’s concern for your needs
Clarity of explanation of loan options
Overall rating of loan officer/representative

25.

3

£
£
£
£
£
£

4

¢
¢
¢
¢
¢
¢

a.
b.
c.
d.

Ease of understanding closing documents
Convenience of closing
Length of time from final loan approval to closing
Reasonableness of closing costs

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e.

Overall rating of home loan closing

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2

£
£
£
£
£
3

¢
¢
¢
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¢
4

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Yes

8

•
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•
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•

9

ª
ª
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ª
ª
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10

‚
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‚
‚
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N/A

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NA

NA

NA

NA

NA

∞
∞
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∞
∞
5

§
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§
6

¶
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7

•
•
•
•
•
8

ª
ª
ª
ª
ª
9

‚
‚
‚
‚
‚
10

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N/A
NA

NA

NA

NA

Please rate your experience with your realtor/real estate agent regarding the home loan application process on the following items, using a
scale of 1 to 10 where 1 is Unacceptable, 10 is Outstanding, and 5 is Average. (MARK ONLY ONE PER ROW)

a.
b.
c.
d.
e.

¡
¡
¡
¡
¡

Knowledge of realtor/real estate agent
Courtesy of realtor/real estate agent
Realtor/real estate agent’s responsiveness to questions
Realtor/real estate agent’s concern for your needs
Overall rating of realtor/real estate agent

2

™
™
™
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Average
3

£
£
£
£
£

4

¢
¢
¢
¢
¢

5

∞
∞
∞
∞
∞

Outstanding
6

§
§
§
§
§

7

¶
¶
¶
¶
¶

8

•
•
•
•
•

9

ª
ª
ª
ª
ª

10

‚
‚
‚
‚
‚

N/A

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NA

NA

NA

NA

Did you use the services of a home builder when buying/refinancing your home loan? (MARK ONLY ONE)
Yes
No (SKIP TO Q28)
Please rate your experience with your home builder regarding the home loan application process on the following items, using a scale of
1 to 10 where 1 is Unacceptable, 10 is Outstanding, and 5 is Average. (MARK ONLY ONE PER ROW)

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Unacceptable
1

a.
b.
c.
d.
e.

Knowledge of home builder
Courtesy of home builder
Home builder’s responsiveness to questions
Home builder’s concern for your needs
Overall rating of home builder

About You
28.

Was this your first home loan of any type? (MARK ONLY ONE)

29.

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30.

7

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No (SKIP TO Q26)

1

27.

6

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Did you use the services of a realtor/real estate agent when buying/refinancing your home loan? (MARK ONLY ONE)

Unacceptable

26.

5

∞
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∞
∞
∞
∞

Please rate your experience with your home loan closing on the following items, using a scale of 1 to 10 where 1 is Unacceptable, 10 is
Outstanding, and 5 is Average. (MARK ONLY ONE PER ROW)
Unacceptable
Average
Outstanding
1

24.

2

™
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Yes

2

¡
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™
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No

For this most recent loan, did you consider another type of home loan? (MARK ONLY ONE)
Yes
No (SKIP TO Q31)
Don’t know or not sure (SKIP TO Q31)

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What other type(s) of home loans did you consider? (MARK ALL THAT APPLY)
Conventional
Federal Housing Administration

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Page 4

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Other

Average
3

£
£
£
£
£

4

¢
¢
¢
¢
¢

5

∞
∞
∞
∞
∞

Outstanding
6

§
§
§
§
§

7

¶
¶
¶
¶
¶

8

•
•
•
•
•

9

ª
ª
ª
ª
ª

10

‚
‚
‚
‚
‚

N/A

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NA

NA

NA

NA

VA_Surv3_LGY_5.19.16_v3 5/19/16 2:07 PM Page 5

About You (Continued)
31.

What is the primary reason you applied for a VA home loan, as opposed to a Federal Housing Administration loan or other type
of loan? (MARK ONLY ONE)

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32.

33.

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The VA loan program is offered only to U.S. Veterans
No down payment required
Convenience
No mortgage insurance required

Loan more likely to be approved

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Other

VA’s assistance to avoid foreclosure
Previous experience with the VA loan program
Funding fee exemption for service-connected disability

Have you ever obtained either a conventional or a Federal Housing Administration home loan? (MARK ONLY ONE)

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Yes

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No (SKIP TO Q34)

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Don’t know or not sure (SKIP TO Q34)

Thinking about ALL aspects of your experience in obtaining your last conventional or Federal Housing Administration loan
(including the application process, eligibility requirements and loan amount, loan information, contacting your lender, etc.),
please rate your loan experience overall, using a scale of 1 to 10 where 1 is Unacceptable, 10 is Outstanding, and 5 is Average.
(MARK ONLY ONE)

Unacceptable
1

2

Average
3

4

5

Outstanding
6

7

8

9

10

¡ ™ £ ¢ ∞ § ¶ • ª ‚
35.

If you had not received a VA guaranteed home loan, would you have been able to purchase your home at this time? (MARK ONLY ONE)

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Yes

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No

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Don’t know or not sure

Do you have any other comments or concerns about your experience?
______________________________________________________________________________________________________________
______________________________________________________________________________________________________________
______________________________________________________________________________________________________________
© 2016 J.D. Power and Associates. All Rights Reserved. 3

THANK YOU FOR TAKING THE TIME TO PARTICIPATE IN THIS IMPORTANT STUDY.

Please return to: J.D. Power and Associates Survey Processing Center
P.O. Box 510030 • Livonia, MI 48151-9907
Page 5

234332/0216/3

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VA_Surv3_LGY_5.19.16_v3 5/19/16 2:07 PM Page 6

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