Yahoo Finance

The Yahoo view: Veterans United is an excellent mortgage lender to consider for those shopping for VA-backed loans. It super-serves borrowers with a military connection — particularly those overseas with its 24/7 customer service.

Veterans United is by far the largest VA loan lender in the nation. And it's easy to see why so many borrowers choose this lender: It has a helpful, information-packed website and is dedicated to doing one thing right: serving military-connected home buyers.

So, it may come as no surprise that Veterans United made the Yahoo Finance list of best mortgage lenders for VA borrowers.

Key benefits

• 24/7 customer service that reflects the international nature of service members and military families.

• Ample educational resources for first-time home buyers, including a home-buying book and web course, on a clean, easy-to-navigate website.

• Counseling for potential borrowers who are looking to improve their creditworthiness.

• Veterans United Realty offers a rebate to home buyers who use its services, which can be applied to closing costs.

Need to know

• Veterans United is the highest-volume VA lender in the nation, issuing nearly twice the number of loans as its nearest competitor.

• Veterans United received the highest score among all lenders considered in the latest J.D. Power Mortgage Origination Satisfaction Study.

• Does not offer adjustable-rate mortgages.

Get started on the Veterans United Home Loans website.

Veterans United home loan product offerings

Veterans United offers the following types of home loans:

• Conventional loans

• VA loans

• Purchase loans

• Refinance

• Cash-out refinance

• Fixed-rate mortgages

• Jumbo loans

• Construction loans

• Energy-efficient loans

Veterans United does not offer the following types of home loans:

• FHA loans

• USDA loans

• Adjustable-rate mortgages

• Interest-only mortgages

• Lot loans

• Guest house loans

• Second home loans

• Non-qualified mortgages

• Investment property loans

• Renovation loans

• 1% down mortgages

• Buydown loans

• Bridge loans

• Manufactured home loans

• Piggyback loans

• ITIN mortgages

• Medical professional mortgages

• HELOCs

• Home equity loans

Dig deeper: How do energy-efficient mortgages work?

Veterans United for VA loan borrowers

A VA loan backed by the Department of Veterans Affairs is one of the most powerful options for home buyers with a military background, and Veterans United Home Loans is an undisputed leader in the space. The lender methodically walks a web user through the VA mortgage process, including:

• How much home can I afford?

• What type of loan should I get?

• An explanation of the advantages of a VA home loan.

A page also explains the mortgage preapproval process and how to find a real estate agent to assist in your home purchase. It then wraps up the article with links to helpful resources to aid in the home-buying experience.

Nicely done.

Of course, the "Next step" is to start a loan application, and there's a button for that at the bottom of the page.

If you miss that, a giant blue notification bar slides up from the bottom of the screen and practically screams, "Start now!" Wait another moment, and a background-erasing popup says, "See what you can afford." Not subtle, but no doubt effective.

Learn more: How to buy a house

Veterans United for home equity lending

Veterans United home loans is all about VA mortgages; there's no mistaking that. It is their singular focus and has served them — and their customers — well. Unfortunately, that means there are limited options when it comes to tapping into your home equity.

Veterans United does not offer home equity loans or home equity lines of credit.

The lender offers only cash-out refinancing. And these days, using a cash-out refi is about as rare as meeting a Chief Warrant Officer 5. That's because if you own a home and have equity, your mortgage rate is likely pretty low. And replacing that loan with a higher interest rate to tap into the value of your home is not at all appealing.

Read more: How to build home equity in 7 steps

Veterans United mortgage loan rates

Clicking on "Today's mortgage rates" takes you to a page with sample interest rates. The 20- and 30-year fixed VA purchase rates include just over one discount point. Each loan option shows the mortgage interest rate, APR, and applied points. That's helpful.

The advertised rates are based on a credit score of 720 and "applicable charges," including the VA funding fee.

Remember, your earned rate will likely differ from these sample rates based on your creditworthiness.

How Veterans United scores on mortgage rates and loan costs

Yahoo Finance uses 2023 Home Mortgage Disclosure Act data comprised of 10 million home loan applications to score mortgage lenders on issued mortgage rates and total loan costs. We score each lender on a scale of 1 (lowest) to 5 (highest).

For example, with mortgage rates, a lender with a lower score charged a higher-than-median mortgage interest rate for loans issued in 2023. A higher score would indicate a lender granted lower-than-median home loan interest rates to borrowers in 2023.

With total home loan costs, a lower score would indicate that a lender charged higher-than-median total home loan costs in 2023. A high rating would mean a mortgage lender offered lower-than-median all-in home loan costs in 2023.

Veterans United home loan rates score: 2 out of 5 stars

Veterans United total loan costs score: 4 out of 5 stars

What this means: Veterans United offered a higher-than-median mortgage rate of 6.75% but a lower-than-median total loan cost of $4,667.34 to borrowers in 2023.

Veterans United mortgage application

On the Veterans United website, tapping on either "Apply Now" or "Get a Quote" takes you to the same page, where it's one question after another. It's not clear if you're beginning the process for an interest rate estimate or an actual loan preapproval application.

Veterans United mortgage preapproval

Before we got to the end of the profiling questionnaire, we asked Veterans United what was happening here. They said it was "the start of our online prequalification and preapproval process."

However, it turns out that an actual application and the monitoring of the progress of your loan actually happens on a separate system called MyVeteransUnited.

Dig deeper: How to get a mortgage in 2025

Veterans United mortgage calculators and home-buyer tools

This is a very help-me-get-started website. There are plenty of explanations for how a VA-backed loan works, what documents you'll need to get started, and the loan requirements to qualify.

When you click "Education" on the top menu, a page of timely articles appears. In the middle of the page, two calculators are highlighted. One is a mortgage payment calculator, and the other is an affordability tool.

You can even take a self-directed online homebuying course. It's a series of videos explaining things such as how your credit score impacts getting a mortgage, types of home loans, loan processing, and even a "Are you ready for homeownership?" lesson.

Veterans United is setting a high bar for other lenders to follow.

Learn more: Use Yahoo Finance’s free mortgage payment calculator

Veterans United pros and cons

Pros

• Veterans United earned our highest score, 5 stars, for robust and easy-to-understand learning resources. Not only are the articles timely — such as monthly housing market updates — they answer some of the most common questions among homebuyers.

• With loan costs below the median, Veterans United scored 4 stars. Getting the best value on a loan is a delicate balance between the loan costs you pay and the interest rate you earn.

Cons

• Offered interest rates were above the median, according to 2023 HMDA data. As a result, Veterans United received a 2-star rating for its mortgage rates.

• In our Affordability category, a measure of mortgage products offered by a lender, Veterans United earned just 2 stars. However, Veterans United is laser-focused on VA loans, so we wouldn't worry much about this score if you have a military connection.

• Veterans United earns 3 stars for mortgage rate transparency. That means you'll see typical advertised rates that may have little to do with your creditworthiness.

How Veterans United compares to other mortgage lenders

Veterans United vs. Rocket Mortgage

Veterans United is a pure-play VA lender, but other providers offer the same loans, including Rocket Mortgage. While Veterans United is the highest-volume VA lender in the US, Rocket is third, right behind United Wholesale. While Rocket does less than half the volume of VA loans than Veterans United, borrowers may appreciate Rocket's time-tested and user-friendly online mortgage application process.

Rocket Mortgage also scores near the top of J.D. Power's customer satisfaction survey — in the top three. But even with this metric, Veterans United is number one.

Rocket Mortgage review

Veterans United vs. Navy Federal Credit Union

So, we know Veterans United is a VA loan virtuoso. Why consider anyone else, then? One reason: interest rate protection.

Say you get a mortgage, and interest rates go down six months or later after closing. You're out of luck, right? Well, Navy Federal Credit Union offers a No-Refi Rate Drop loan that allows you to get that lower mortgage rate without changing your loan or paying additional closing costs. There is a one-time $250 fee. That's something to consider, for sure.

It's always smart to shop with more than one lender so you can consider taking advantage of such opportunities.

Navy Federal Credit Union mortgage review

Veterans United FAQs

Is Veterans United a reputable lender?

Very much so. Veterans United has a sterling reputation. As part of our vetting of lenders, Yahoo Finance researches consumer complaints and regulatory actions against a lender. Its parent company, Mortgage Research Center, LLC, hasn't had a state or federal cause of action against it in well over five years, according to the Nationwide Multistate Licensing System (NMLS).

Is it hard to get a loan with Veterans United?

More than likely, it's just the opposite. Veterans United is a leading VA lender. VA loans are known for having flexible eligibility — and with no down payment usually required — how much easier can it get?

Who owns Veterans United?

Veterans United is one of dozens of trade names held by Mortgage Research Center, LLC. Most of the brands are regional spinoffs of the Veterans United name. Others are more mysterious, such as MeetHowie.com. By the way, it is now being forwarded to a bank.

Can I trust Veterans United?

Veterans United has some pretty strong endorsements. Its board of advisers consists of former senior enlisted military leaders. Each has nearly 30 years of service or more and is honored with numerous decorations and distinctions.

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Methodology:

Yahoo Finance reviews and scores mortgage lenders with quintile scoring in five primary categories: 1) Interest rates. Using 2023 Home Mortgage Disclosure Act data comprised of 10 million home loan applications, we score mortgage lenders on issued mortgage rates below or above the annual median of reporting lenders. 2) Affordability. A measure of loan product availability and the willingness of a lender to offer government-backed loans, low down payments, down payment assistance, and consideration of nontraditional credit. 3) Loan costs. HMDA data is again analyzed, and lenders are rated based on total loan costs compared to the annual median. 4) Rate transparency. The ability of a website user to obtain a mortgage interest rate estimate. We score lenders based on whether rates are enhanced with discount points or high credit score requirements, disclaimers revealing rate assumptions, sample advertised rates, and whether adjustable or no discount point rate estimates are available. 5) Online features. An analysis of the educational material, calculators, and additional resources available to users.

Review of Nationwide Multistate Licensing System (NMLS) data on regulatory actions can trigger a penalty to the score of any lender with a consumer mortgage-related administrative or enforcement action within the past five years.

Advertisers or sponsorships do not influence ratings.

Editorial disclosure for mortgages:

The information in this article has not been reviewed or approved by any advertiser. The details on financial products, including interest rates and fees, are accurate as of the publish date. All products or services are presented without warranty. Check the lender's website for the most current information. This site doesn't include all currently available offers.

This article was edited by Laura Grace Tarpley.