Veterans United mortgage review: A top lender for VA loans

Father in military uniform in kitchen with young son in their home that they financed with a veterans united mortgageImage: Father in military uniform in kitchen with young son in their home that they financed with a veterans united mortgage

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Updated January 23, 2021

This date indicates our editors’ last comprehensive review and may not reflect recent changes in individual terms.

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Written by Jamie Johnson

Veterans United mortgage loans at a glance

  • Conventional loans: Yes
  • FHA loans: Yes
  • VA loans: Yes
  • Refinancing: Yes
  • Jumbo loan: Yes
  • Adjustable rates: Yes (hybrid 5/1 VA adjustable-rate mortgage)
  • Fixed rates: Yes (15 and 30 years)

Veterans United Home Loans is known for specializing in VA loans — it’s the largest VA lender by loan volume. While the company also offers other types of mortgages, it should be top of mind if you’re a military service member or veteran.

The company makes it easy to view its current VA mortgage interest rates and receive a mortgage quote online. But Veterans United provides very little information online about the other types of loans it offers if you’re interested in a different type of mortgage.

Pros

  • Specializes in VA loans
  • Provides 24/7 customer support
  • Provides free credit counseling to veterans and their families

Cons

  • Doesn’t offer home equity loans or HELOCs
  • Provides little information about its mortgage options other than VA loans

5 things to know about a Veterans United mortgage loan

1. VA loans are its specialty

When it comes to VA loans, Veterans United is a household name. The company has been a top VA purchase lender for several years by loan volume, making it an experienced VA lender.

Veterans United makes it simple to apply for a VA loan — but it also provides customers with a variety of educational resources to get up to speed on how VA loans work. You can use the company’s website to determine whether you may be eligible for a VA loan and apply for a free quote.

VA loans can be attractive because you may qualify for a mortgage without putting any money toward a down payment.

You can also refinance your VA mortgage with the VA Streamline Refinance program or a VA Refinance Cash-Out loan. That second option can be helpful if you’ve built up equity in your home that you’d like to tap and use for another financial goal.

2. 24/7 customer support

If you’re overseas in the military, applying for a mortgage can be extra stressful. Veterans United goes above and beyond to provide customer support, offering 24/7 phone support if you have questions.

The company also offers a number of branches near military bases if you prefer in-person service.

3. Offers a free credit counseling service

If you’re struggling with your credit, Veterans United offers a free credit counseling service to veterans, service members and military families. If you don’t qualify for a VA loan because of poor credit, a loan officer will point you to the company’s Lighthouse Program.

This program can help you identify and fix errors on your credit reports and take strategic steps to improve your credit.

4. Not the most transparent for conventional loans

While Veterans United puts the majority of its focus on VA loans, it does offer other types of mortgage loans. But it’s surprisingly difficult to find information about these other loans on its website. If you’re hoping to apply for something other than a VA loan, you may find the process easier with another lender.

5. You must agree to receive marketing promotions before receiving an online quote

If you want to find out what kind of rates you may qualify for, you can request a free quote on the Veterans United website. But you’ll need to enter your email address before receiving a quote. By supplying this information, you may receive promotions and marketing materials from Veterans United in the future.

Who is a Veterans United loan good for?

Veterans United could be a good option if you want to take out a VA loan. The company specializes in VA loans and provides a lot of resources that can help you get a deep understanding of VA loans and how they work.

And if you’re a veteran or military member who is struggling to qualify for a VA loan because of poor credit, Veterans United’s free Lighthouse Program might be helpful to you. This program can give you access to tools for improving your financial knowledge and credit profile.

But if you’re looking to take out a conventional loan or a different type of government-backed mortgage like an FHA loan, Veterans United probably isn’t the best option. The company provides little information on its website about the other types of mortgage loans it offers. 

How to apply for a Veterans United mortgage

If you’re ready to apply for a VA loan, Veterans United lays out the application process on its website. To get started, you’ll need to familiarize yourself with VA loans and ensure that you meet the criteria to apply.

From there, you’ll contact a lending specialist and begin the application process. You can either apply for your Certificate of Eligibility on your own or Veterans United can assist you.

Once you’ve gone through these steps and received a rate quote, it’s time to finalize your application. You’ll do this by providing your W-2, tax returns and any additional financial documents that are required.

Not sure if Veterans United is right for you? Consider these alternatives.

If you’re shopping for a mortgage, you have a window of time where multiple inquiries are only counted as one for your credit scores. You typically have 14 days — though it could be longer depending on the scoring model.

  • Rocket Mortgage by Quicken Loans: Rocket Mortgage by Quicken Loans provides a wide variety of mortgages, and the company is very transparent about its current rates.
  • Navy Federal Credit Union: Navy Federal specializes in working with veterans and unlike Veterans United, the lender offers home equity lines of credit, or HELOCs.

About the author: Jamie Johnson is a Kansas City-based freelance writer who specializes in finance and business. She covers a variety of personal finance topics, including building credit, credit cards, p… Read more.