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Veterans United Home Loans Mortgage Review 2023

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At a glance

Veterans United Home Loans
NMLS: 1907
Editor's take

Veterans United is good for borrowers looking for a VA loan product, online convenience and 24/7 customer service.

Bankrate Score
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4.8
Rating: 4.8 stars out of 5
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Bankrate Score

Customer Rating
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5.0
Rating: 5 stars out of 5

3,382 ratings

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; refinancing

Credit Good

Min. credit score required

620 for conventional loans, 620 for VA loans

Location

Nationwide availability

Available in all U.S. states

Dollar Coin

Min. down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Recent customer reviews

The customer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews. Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.

Rating: 5 stars out of 5

First Class Experience. We felt valued

From the welcome package received upon our initial consultation, to the various team members who handling our loan process from start to finish we are extremely impressed. Everyone was extremely friendly, knowledgeable, and helpful. The Housewarming Gift was a very nice surprise and the Portal Platf...

Outstanding Service & Responsiveness
Houston, Texas (May 9, 2023)

Rating: 5 stars out of 5

The best lender for Veterans!

Veterans United was a breeze to work with, they explained every step of the way and always had time to walk us through steps if we needed more clarity. Home buying is stressful enough and having a lender who reduces that stress is invaluable. Thank you Veterans United!

JD
Massachusetts  (May 9, 2023)

At a glance

Veterans United Home Loans

NMLS: 1907

4.8

Rating: 4.8 stars out of 5
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Bankrate Score

Mortgage Percent

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; refinancing

Location

Nationwide Availability

Available in all U.S. states

Credit Good

Min. credit score required

620 for conventional loans, 620 for VA loans

Veterans United Home Loans overview

Established in 2002, Veterans United Home Loans is a full-service direct mortgage lender specializing in VA loans with a team of over 5,000. Veterans United also offers a variety of other loan products. It’s a popular choice among military borrowers and has become the leader in the VA loan sector, providing more VA purchase loans by volume than any other lender since 2016. There are more than two dozen branch locations nationwide, but you can also apply for a mortgage or refinance online or over the phone. Depending on the borrower, the lender can issue a preapproval in minutes (with conditional approvals in 24 hours), and its VA loan closings currently average a brisk 36 days. Notably, the lender is flexible enough to consider non-traditional credit data, and if you’re a returning borrower, you might be eligible for a credit.

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Bankrate insight

Veterans United was the nation's most active VA lender in 2022, according to federal data.

 

Pros and cons of Veterans United Home Loans

Pros
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    Specializes in VA loans

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    24/7 customer service over the phone

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    Free credit counseling for service members

Cons
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    Doesn’t offer home equity lines of credit (HELOCs) or home equity loans

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    Limited number of branches

Our Editor’s Take on Veterans United Home Loans

Veterans United is good for borrowers looking for a VA loan product, online convenience and 24/7 customer service.

How Bankrate scored Veterans United Home Loans

To determine Veterans United’s Bankrate Score, Bankrate’s editorial team rated it and other lenders on a scale of one to five stars based on a variety of factors relating to the lender’s products and services. (Bankrate’s partners compensate us, but our opinions are our own, and partner relationships do not influence our reviews.) We derived its overall score by considering three basic factors:

  • Affordability: The VA loan rates from Veterans United Home Loans are somewhat competitive to Bankrate’s averages. The exact closing costs and fees you’ll pay depend on your specific loan.
  • Availability: Veterans United works with borrowers in all 50 states, with a focus on VA loans.
  • Borrower experience: As the top VA lender in the U.S., the Veterans United website is brimming with educational resources for VA borrowers. Notably, you can contact the lender 24 hours a day, seven days a week.

Affordability: 4.3/5

Affordability differs from lender to lender, so comparing costs is key. The lowest rates for a VA loan through Veterans United Home Loans go to borrowers with at least a 720 credit score and those willing to pay points. The lender displays current purchase and refinance rates for each of its VA loan products online, and updates these daily. For a personalized rate, you can fill out a form online with information about your military service, living situation, loan type and contact info.

Availability: 5/5

This factor can make the overall mortgage application process smoother or more challenging. Veterans United Home Loans offers mortgages to borrowers nationwide. While it specializes in VA loans, the lender also offers conventional, FHA and USDA loans for various needs. To qualify for a VA loan from Veterans United, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio no higher than 41 percent.

Borrower experience: 5/5

Know what to expect when you work with a specific lender. Veterans United Home Loans was founded in 2002 and has since become the biggest VA lender in the U.S., having worked with more than 594,000 veterans on $149 billion in financing. The lender consistently has an A+ rating from the Better Business Bureau and “Excellent” marks on Trustpilot. It also scored highly in J.D. Power’s mortgage origination survey for customer satisfaction. You can contact the lender 24/7 if you have questions on a home loan.

How to apply for a mortgage with Veterans United Home Loans

You can apply for a purchase loan or a refinance with Veterans United in person at a branch, by phone or via the lender’s website.

Here are some tips to prepare for the process:

  1. Check your credit report. It’s important to check your credit report before your lender does, in case there are errors that could impact not only whether you get preapproved but also your ability to get the best mortgage rate. Knowing your credit score also helps you decide what type of loan to apply for. If your score is in the very low 600s, for instance, an FHA mortgage might be best for you, as its standards are more lenient than those for conventional loans.
  2. Gather personal and financial documents. With any lender, you must supply documentation about your income, assets and debts. This includes pay stubs and W-2s and account and loan statements.
  3. Provide details about the property. You’ll need to provide the address of the home and submit to an appraisal. (If you’re refinancing, you might or might not need an appraisal.)

Refinancing with Veterans United Home Loans

Veterans United helps VA borrowers qualify for the VA IRRRL, also known as a VA streamline refinance. Because you’ll be swapping one VA loan for another, VA streamline refinance loans are relatively easy to process and approve. Veterans United can help you with rate-and-term and cash-out refinancing.

Compare Veterans United Home Loans to other lenders

Veterans United Home Loans
Rating: 4.8 stars out of 5
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4.8

Bankrate Score
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USAA

Rating: 4.6 stars out of 5
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4.6

Bankrate Score
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Read full review

Navy Federal Credit Union

Rating: 5 stars out of 5
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5.0

Bankrate Score
Info
Read full review

Loans offered

Conventional, jumbo, FHA, VA, USDA, fixed-rate, adjustable-rate; refinancing

Loans offered

Conventional, jumbo, VA, fixed-rate; refinancing

Loans offered

Conventional, jumbo, VA, Military Choice, Homebuyers Choice, refinancing

Min. credit score required

620 for conventional loans, 620 for VA loans

Min. credit score required

640 for VA loans

Min. credit score required

Undisclosed

Down payment

3% for conventional loans, 3.5% for FHA loans, none for VA loans and USDA loans

Down payment

None for VA loans

Down payment

3% for conventional conforming loans, none for VA loans

Nationwide availability

Available in all U.S. states

Nationwide availability

Available in all states

Nationwide availability

Available in all U.S. states

Veterans United Home Loans customer ratings and reviews

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NMLS: 1907

5.0

Rating: 5 stars out of 5

3,382 ratings

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This lender has 352 reviews.

Knowledge
Rating: 5 stars out of 5
Level of service
Rating: 5 stars out of 5
Professionalism
Rating: 5 stars out of 5
Responsiveness
Rating: 5 stars out of 5
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100% of customers would recommend this lender.

of 352 reviews

The consumer reviews posted on Bankrate.com ("Bankrate") are individual, subjective opinions of reviewers, and not of Bankrate. Bankrate does not endorse any of the opinions expressed by reviewers or any responses to reviews.

Bankrate cannot guarantee or verify the accuracy of the opinions shared by individual reviewers, and reserves the right to reject or remove any review, at any time, for any reason at Bankrate’s sole discretion, including but not limited to those that Bankrate deems inappropriate, fraudulent, invalid, irrelevant, or otherwise outside the parameters of the Bankrate Review Guidelines, the Privacy Policy, or the Terms of Use.

To help serve you with relevant information, the consumer reviews shown below are limited to only those that this advertiser has received during the past 12 months.

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