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Veterans United Home Loans Review 2023

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, commissioned or otherwise endorsed by any of our network partners.

Veterans United at a glance


3 stars

 Minimum credit score: 620 

 Minimum down payment: 0% to 3%

 Available loan products and programs: Conventional, VA, FHA, Jumbo 

Our verdict: Veterans United is a good fit for military borrowers looking to purchase or refinance a home. Active-duty service members stationed overseas will especially appreciate the 24/7 availability of its loan officers, but anyone looking for a responsive lender with support tailored to troops and vets may want to consider this lender.

See how we reached our verdict below.

ProsCons

 You won’t find any adjustable-rate loans 

 You won’t have access to home equity products 

 You can’t get financing for a manufactured home 

 You won’t find any adjustable-rate loans 

 You won’t have access to home equity products 

 You can’t get financing for a manufactured home 

Veterans United Home Loans specializes in loans backed by the U.S. Department of Veterans Affairs (VA) and is frequently the No. 1 issuer of VA loans (by volume), according to the VA’s own data. About 9 in 10 (92%) of Veterans United borrowers take out VA loans. The company was founded in 2002 and is headquartered in Columbia, Mo.

Veterans United’s mortgage products

Conventional

  • Purchase loans are available in 15-, 20-, 25- and 30-year term lengths. Veterans United doesn’t offer any adjustable-rate mortgages (ARMs).
  • Refinances are also available for homeowners who wish to replace an existing home loan with a Veterans United mortgage that better meets their financial goals.

FHA

VA

  • VA purchase loans are available for military borrowers with sufficient VA entitlement, since they have no minimum credit score requirements, usually don’t require a down payment and won’t force you to pay for private mortgage insurance (PMI).
  • Interest rate reduction refinance loans (IRRRLs), also known as VA streamline refinances, allow military borrowers with existing VA loans to quickly refinance without going through all of the documentation and appraisal hassles they might normally face. Both 15- and 30-year streamline refinances are available.
  • VA cash-out refinances are available in 15- and 30-year loan terms for military borrowers who have an existing mortgage that is at least 210 days old.

Jumbo

  • Conventional high-balance loans are available for borrowers who can meet the minimum 5% down payment requirement and whose needs don’t exceed super-conforming loan limits.
  • VA jumbo loans are available with 0% down, up to the lender’s cap (not disclosed).
  • Non-conforming jumbo loans are also an option for borrowers with unique needs.

Veterans United’s mortgage rates and fees

Veterans United provides abundant mortgage rate information on its website, covering both purchase and refinance loans, and allows you to customize the rates you’re seeing by credit score. Most of the rate quotes include discount points. The VA funding fee is included in the rates as well, since it’s common for VA borrowers to roll this fee into their loan. Veterans United rate quotes additionally assume the borrower has sufficient VA entitlement and is buying or refinancing a primary residence.

The fees Veterans United will charge to originate a loan aren’t itemized on the company’s website; however, this is likely because they specialize in VA loans. The VA sets a cap on lender fees, so you won’t pay more than 1% of the loan amount.

Mortgage rates published online?
Rate information updated daily?
Lender fees disclosed?

Veterans United’s application experience

Once you’ve decided to apply, it’s easy to get started with Veterans United. They offer an online preapproval and online application fully equipped with digital document uploading. As you move forward with the loan process, you’re always able to track your loan’s progress online. When you reach closing, Veterans United has a hybrid closing option that combines elements of an eClosing and traditional, in-person closing.

Veterans United’s customer service experience

Customer service is available 24/7 via phone at 800-884-5560, making time-zone frustrations a thing of the past for military borrowers stationed overseas. If you have questions about your loan, you can call 855-217-0772. You can also make your mortgage payments online or by phone.

How does Veterans United compare to other lenders?

Veterans UnitedMr. CooperAlliant
Lender rating



Minimum credit score620Not publishedNot published
Minimum down payment0% to 3%0% to 3.5%0% to 5%
Loan products and programs
  • Conventional
  • VA
  • FHA
  • Jumbo
  • Conventional
  • FHA
  • VA
  • Conventional
  • Jumbo
  • HELOC 

How we rated Veterans United

LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.

LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.

Veterans United scorecard: 5/5

 Publishes rates online

 Offers standard mortgage products

 Includes detailed product info online

 Shares resources about mortgage lending

 Provides an online application

  Provides an online application

  = 0 points ⭕= 0.5 points    = 1 point
 

Today's Mortgage Rates

  • 5.95%
  • 5.76%
  • 3.31%
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