Veterans United Home Loans Review 2024
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Our Take
4.5
Veterans United is the largest VA loan lender in the country, accounting for nearly a third of all VA loan originations. However, borrowers won’t find renovation loans or home equity products. Most likely to appeal to veterans and servicemembers.
Pros
- 24/7 customer service line supports servicemembers stationed internationally.
- Niche VA products, including refinances, EEMs and VA jumbo loans.
- Maintains a network of real estate agents experienced with VA borrowers.
Cons
- No HELOCs or home equity loans.
- No renovation loans.
- No live chat feature on website.
Lender | Min. credit score | Min. down payment | |
|---|---|---|---|
580 | 3% | Visit Lenderat New American Funding at New American Funding | |
620 | 3% | Visit Lenderat NBKC at NBKC | |
580 | 3.5% | Visit Lenderat Rocket Mortgage, LLC at Rocket Mortgage, LLC |
Full Review
Veterans United Home Loans is a nonbank lender based in Columbia, Missouri. Loans are available nationwide.
🏠 Popular loan types include: VA; fixed rate conventional; FHA; jumbo; streamlined (IRRRL) or cash-out refinance
🔑 Specialty loan options include: USDA; loans for self-employed borrowers; loans for second homes; construction-to-permanent home loans; conventional loans for manufactured homes
Veterans United provides a variety of conveniences and services tailored to military borrowers, including:
Veterans United Realty, which matches borrowers with agents who specialize in working with veterans and servicemembers.
Veterans United Insurance, a brokerage service that reviews customized quotes from partner insurance companies.
Free credit counseling.
» MORE: How to apply for a mortgage
How we score Veterans United mortgages
Every year, NerdWallet writers and editors use the latest data and independent research to score lenders on an overall rubric, reflecting factors that are most important to mortgage borrowers. Select Why This Category Matters below to learn more.
Veterans United has a NerdWallet home loans rating of 4.5 stars overall. Here’s a breakdown of this year’s score.
Category | Star rating |
|---|---|
Average mortgage rates and fees | |
Mortgage rate transparency | |
Variety of loan types | |
Customer experience |
- Why This Category Matters
Average mortgage rates and fees (30%)
Our team analyzes federal data to compare mortgage lenders’ origination fees and offered mortgage rates, measuring annual averages across all loan types, as reported by the lenders. The lowest combination of average rates and fees earns the highest star rating in this category. (It’s worth noting that loans considered higher risk, including those such as FHA loans that are easier to qualify for, often have higher interest rates and fees.) Pro tip: In some cases, paying upfront fees may lower a borrower’s mortgage interest rate.
Mortgage rate transparency (25%)
We check how straightforward it is to comparison-shop rates online. NerdWallet’s transparency ratings are higher for lenders that post sample rates on their sites, and highest for sites with self-serve tools that allow shoppers to see what rates might be like for their particular loan. Pro tip: Borrowers who compare customized rate quotes by applying to three or more lenders could save thousands of dollars over the life of their loan.
Variety of loan types (25%)
Finding the right mortgage is different for each borrower. The highest star ratings in this category are awarded to lenders that our research shows offer a wide range of loan types, improving the odds that a borrower will find the best match for their needs: options for purchase and refinance; fixed-rate and adjustable-rate loans; government-backed FHA, VA or USDA loans; renovation or construction loans; and home equity loans or HELOCs.
Customer experience (20%)
How easy is it to interact with this lender? The highest-rated lenders in this category offer features that are convenient and clarifying for borrowers, such as: an online application, multiple customer service options, a helpful mobile app and candid closing timeline communications.
Veterans United’s average mortgage rates and fees score is based on data from its parent company, Mortgage Research Center.
Veterans United earned bonus points for expanding homeownership opportunities by offering loans for manufactured homes.
What borrowers say about Veterans United Home Loans
NerdWallet’s lender star ratings assess objective qualities, including rates, fees and loan offerings. To help you understand borrowers’ subjective experiences, NerdWallet has gathered customer satisfaction ratings from J.D. Power and Zillow. We also contacted Veterans United customer support.
→ Above-average score in J.D. Power’s 2023 U.S. Mortgage Origination Satisfaction Study. Mortgage origination covers the initial application through closing day.
Score: 777 out of 1,000. Industry average for origination is 730.
→ Average customer rating on Zillow.
Customer rating: 4.78 out of 5, as of the date of publication. Rating reflects nearly 5,500 customer reviews.
🤓 Our Nerds say…
Borrowers can reach customer service representatives via email, a round-the-clock phone line or in person at a branch. When we called, we were connected with a friendly and helpful agent. There is no live chat feature.
Alternatives to a home loan from Veterans United
We recommend comparing mortgage rate offers from three or more lenders.
Borrowers who prioritize a lender that specializes in VA loans may be interested in a mortgage from Navy Federal Credit Union.
Borrowers who want to explore a wide variety of VA offerings (including renovation loans) may want to consider Network Capital.
» MORE: Best VA mortgage lenders
More from NerdWallet
NerdWallet’s overall ratings for mortgage lenders are evaluated based on four major categories: average mortgage rates and origination fees, rate transparency to consumers, variety of loan types (purchase, refinance, fixed and adjustable, for example) and customer experience. Among the factors we consider in these categories are: options to apply for home loans online, typical time to close, mobile app experience, level of detail about mortgage rates on lender websites, and NerdWallet’s own analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. These and other items inform detailed rubrics, which generate ratings from 1 star (poor) to 5 stars (excellent). Read more about how we rate mortgage lenders here.
