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About Veterans United Home Loans
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Veterans United Home Loans (NMLS #1907) is a mortgage lender headquartered in Columbia, Missouri, that specializes in VA purchase loans and refinancing. It has closed more VA home purchase loans by volume than any other lender for six years running (as of October 2021), according to federal lending statistics.
Pros & Cons
Pros
- Specializes in VA loan programs
- Available nationwide
- Highly informative website
Cons
- Not useful for other kinds of loans
Bottom Line
Veterans United provides a variety of VA loans. Because of this, its rates tend to be lower than national averages for other types of purchase loans. Veterans United doesn’t serve everyone, though, so your first step should be making sure you’re eligible for VA loan programs.
Featured Reviews
To be able to win a bid on a home, close, and move into it in less than 3 weeks is unbelievable. Veterans United helped with so much along the way, especially since I’m a first ti...
Read full reviewThird time buying a home with VU. Another great experience! My loan team worked with us to ensure we not only met our closing date but closed 9 days early! Communication was great...
Read full reviewRates
Most VA loans are backed by the U.S. Department of Veterans Affairs, which allows lenders to offer lower rates than they otherwise would. Since 2019, Veterans United’s average home purchase rates have been consistently lower than the national average (0.15% lower in 2021). Just remember that rates vary, and your financial situation will affect what rates you qualify for.
Veterans United average home purchase rate vs. national average
| Year | Difference from national average |
|---|---|
| 2021 | -0.15% |
| 2020 | -0.15% |
| 2019 | -0.08% |
Application process
You can apply for a mortgage from Veterans United online, in person or by phone, but the first step in getting a VA loan is making sure that you meet the eligibility criteria from the Department of Veterans Affairs.
From there, you can get preapproved for a loan through Veterans United. Your process from here on out will vary depending on whether you’re buying a home or refinancing, but your loan officer should be able to guide you to closing.
Multiple reviews on our site say the process is extremely easy and the team is very helpful. David, a ConsumerAffairs reviewer from Ozark, Alabama, had this to say about their experience:
“Their website was absolutely filled with all the information you will need to understand the process of obtaining a loan for your new home. Our loan specialist would respond to any text, call or email anytime to answer any question or concerns we had. He worked hard to get us the lowest rate possible.”
Veterans United application features
| Features | Availability |
|---|---|
| Online application | |
| Mobile document upload | Undisclosed |
| Physical branches | 26 |
| Publishes minimum rate on website | |
| Rate lock | Undisclosed |
| Pre-qualification (no hard credit pull) | X |
| Certified approval letter |
Loan types
Veterans United provides VA purchase loans, VA streamline refinancing (interest rate reduction refinance loans or “IRRRLs”) and VA cash-out refinancing.
The Veterans United website also says the company offers other financing options for homebuyers, like USDA loans, FHA loans and traditional mortgages. However, it’s not transparent about the details of these loans — they might be handled by the lender’s partners rather than Veterans United itself.
Loan applications for home purchases only by year
| 2021 | 2020 | 2019 | |
|---|---|---|---|
| Home purchase applications | 114,936 | 98,470 | 76,632 |
| Home purchase loans closed | 77,371 | 66,954 | 52,371 |
| Home purchase applications denied | 8,076 | 7,405 | 6,119 |
| Home purchase preapprovals denied | 42 | 57 | 72 |
Refinancing
Veterans United mostly focuses on VA purchase loans. However, in 2020, more of its loans were for refinancing than the previous year, likely due to the historically low interest rates during the pandemic. When interest rates are low, refinancing becomes a more attractive option since it can save many borrowers thousands of dollars over the course of their loans.
Veterans United’s VA IRRRLs generally require less paperwork to complete and are faster than conventional refinances. They also come with fewer out-of-pocket costs. On the other hand, a VA cash-out refi lets borrowers access their homes’ equity to pay for other expenses.
Home purchase vs. refinance loans by year
| 2021 | 2020 | 2019 | |
|---|---|---|---|
| Home purchase loans | 71.82% | 71.13% | 78.79% |
| Refinance loans | 19.7% | 23.88% | 13.12% |
| Cash-out refinance | 8.48% | 5% | 8.08% |
Requirements
Not everyone is eligible for VA loans. To get a VA loan from Veterans United, you need to:
- Meet eligibility requirements from the Department of Veterans Affairs
- Have a valid Certificate of Eligibility (COE)
- Satisfy the lender’s own requirements for borrowers
According to Veterans United, you may be eligible for a VA loan if you meet one or more of the following criteria:
- You served 90 consecutive days of active service during wartime.
- You served 181 days of active service during peacetime.
- You have six years of service in the National Guard or Reserves.
- You are the spouse of a service member who has died in the line of duty or as a result of a service-related disability.
If you don’t meet these minimum service requirements, you may still be eligible, though. (The VA’s criteria are more nuanced than the above guidelines provided by Veterans United.) One of the company’s home loan specialists can help you navigate your options.
You also have to meet Veterans United’s mortgage loan requirements, which affect how much mortgage you can afford. Veterans United doesn’t specifically state its own lending criteria, but it does provide general guidelines for meeting other VA lenders’ requirements. Notably, it recommends borrowers to have a credit score of at least 620, which is higher than industry norms.
If you’re also considering other types of loans, check out our guides on mortgage lenders, FHA lenders and USDA lenders to learn more about their requirements.
Cost and fees
VA loans tend to be more affordable than traditional mortgages because they generally don’t require down payments.
VA loans also don’t require private mortgage insurance (PMI), which can lower your total closing costs and monthly payments. (Conventional mortgages generally require this insurance until the homeowner has built up 20% equity.) However, Veterans United does charge other traditional mortgage fees, like application and origination fees.
With Veterans United, you’ll also have to pay a one-time VA funding fee unless you’re exempt. This fee ranges from 0.5% to 3.6% of your home’s purchase price, depending on the type of loan you need and if you've used a VA loan before. The average veteran pays a 2.3% funding fee the first time they use a VA home loan.
FAQ
Is there a minimum credit score requirement?
Yes. A credit score of 620 is typically required.
Does Veterans United have an office in my area?
Veterans United has offices in 21 states, but the company services loans in all 50 states. Veterans United offers online services for people living in areas without a local office.
You can find Veterans United branches in the following states: Alabama, Alaska, Arizona, California, Florida, Georgia, Hawaii, Idaho, Illinois, Kentucky, Kansas, Missouri, Nebraska, Nevada, North Carolina, Oklahoma, South Carolina, Tennessee, Texas, Virginia and Washington.
What is the maximum loan I can get with Veterans United?
Veterans United offers VA loans and VA jumbo loans. Borrowers can secure loans up to $1.5 million through Veterans United.
Can I get a home equity loan with Veterans United?
Veterans United does not offer home equity loans or HELOCs, but you can refinance your loan with Veterans United.
Veterans United Home Loans Reviews
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Reviewed July 24, 2023
My wife and I were looking to move from Virginia Beach to Southern California (Temecula). I found an advertisement for Veterans United Realty and Home Loans. For close to a year, they stayed by my side, guiding me every step of the way, and no matter how many changes I requested to the type of loan or home, they gave me sound advice and provided me the best options always, they made me feel secure and confident as every week and month passed while we searched and waited for the perfect home. They were patient and professional, honest and kind. They have a network of highly skilled experts that made a very challenging process go very smooth, as one task was accomplished, another was quickly handled by the next team member.
Mr. Steven ** (Loan Officer) made himself available any day of the week. Mr. Nick ** (Home Buying Concierge) was instrumental in making sure all the utilities were taken care of and my questions and concerns addressed. My Real Estate Agent, Paul ** was awesome, I felt like we'd known each other for years, he was so thorough and on top of every single detail and handled all the the things masterfully, that I know nothing about, never having to wait for things to happen even though he was worried and tending to a family medical crisis.
Our Seller's Agent, Ms. Pooja ** was wonderful as well, a true advocate for us. She did a remarkable job ensuring we did well in selling our home in Virginia Beach. She was kind and compassionate and very patient helping us through these transactions at a difficult personal time during these transactions when my father in law passed away and the next day my wife suffering a heart attack, requiring hospitalization and cardiac intervention. There was no pressure from anyone and everyone was gracious enough to work on our timeline. I know it's a cliche to say we couldn't have done without them but, we couldn't have and certainly we would still be searching. They helped us find our beautiful home, in a wonderful neighborhood and we are very happy and extremely thankful for the whole Veterans United Home Loans family.
Reviewed July 22, 2023
As a proud military veteran, I cannot express enough gratitude to Veterans United for the unwavering support they provided in helping my family secure a VA home loan. Their exceptional service has completely transformed our lives, and we are forever grateful for their dedication and expertise. From the moment we contacted Veterans United, we were treated with the utmost respect and understanding of our unique situation as veterans. Their team of professionals took the time to listen to our needs and concerns, walking us through every step of the process with patience and clarity.
One of the standout qualities of Veterans United is their knowledge of the VA loan program. They have a deep understanding of the intricate details and requirements, making us feel confident that we were in good hands throughout the entire journey. They effortlessly navigated the paperwork, ensuring a smooth and timely approval process, which took a significant burden off our shoulders. Moreover, their customer service is second to none. Communication was prompt, consistent, and reassuring. Whether it was via phone, email, or in-person meetings, we felt well-supported and cared for, knowing that our questions would be answered promptly.
Veterans United's dedication to ensuring that veterans and their families receive the best possible service is truly commendable. They went above and beyond to find us the most favorable interest rates and loan terms, tailoring the options to suit our financial needs. Thanks to their efforts, we now have a beautiful home to call our own, and we can confidently say that our future is looking brighter than ever. The impact of Veterans United's support extends far beyond just helping us secure a home loan; they have shown us that there are companies out there who genuinely care about veterans and their families. Their commitment to the well-being and success of those who have served our country is something that will stay with us for a lifetime.
We wholeheartedly recommend Veterans United to any fellow veterans seeking assistance with a VA home loan. Their professionalism, expertise, and heartfelt dedication to supporting veterans make them an outstanding choice. Thank you, Veterans United, for making our dreams come true and being there for us every step of the way!
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Reviewed June 27, 2023
If you're in the market for a new home, look no further than this dream team of real estate professionals. Sam, Faith, Julia, Matthew, Alex and Wynci are an exceptional group of individuals who work together seamlessly to provide their clients with the best possible home-buying experience. From the very beginning, this team took the time to get to know me and understand my needs. They were patient in answering all of my questions and made me feel at ease throughout the entire process. Each member of the team brought a different set of skills and expertise to the table, which made working with them a true pleasure. Sam's knowledge of the lending industry was impressive, and he worked hard to ensure that I received the best possible loan terms.
Faith's expertise in the local real estate market helped me find my dream home quickly and efficiently. Julia's attention to detail and strong work ethic ensured that everything was handled efficiently and effectively. Matthew's exceptional customer service skills and warm personality made me feel supported throughout the entire process. In addition to this amazing team of real estate professionals, Alex's expertise in home and car insurance provided a seamless transition from the home-buying process to securing insurance coverage. Her attention to detail and ability to identify the best coverage options for my needs was impressive. And Wynci's communication skills and attention to detail kept me informed every step of the way. Together, this team is a force to be reckoned with.
They are professional, knowledgeable, and truly care about their clients. They go above and beyond to ensure that the home-buying process is a success, and it shows in everything they do. If you're in the market for a new home, look no further than Sam, Faith, Julia, Alex, Matthew, and Wynci. Their professionalism, expertise, and exceptional customer service are unmatched.
Reviewed March 25, 2023
Wow where to begin. My Wife and I never thought we would get to this point of our lives. When my wife and I married never in our wildest dreams did we think we would own a home. We would sit down every week and struggle with what bill to pay, how much could we spend on groceries for the month. I can't explain the sheer fear we had together day in and day out wonder if we would own a home. My wife and I would for years flip through Trulia, Zillow and all the other home selling websites that exist dreaming of the day we would honestly be able to buy a home for our family. We finally sat down and put pen to paper and said this is our goal. We have 5 years to save up money and get a home. We started to put extra time in at work and putting money aside praying one day that the home we dreamed about would actually exist.
Fast forward 6 years later through stress, hard nights thinking it would never happen and we just signed our paperwork on our new home and My wife and I have nothing but absolutely gratefulness for the Veterans United Family that has been so wonderful to us. We sit now in our new home though very empty still. We dream about what furniture will go where. What color we will paint the walls and look around the house and think about all the memories we will create in this home and none of this would have been possible without Veterans United. Again thank you so much for everything again.
RespectfullyThe **
Reviewed March 20, 2023
Omg, you kidding me? You're the highest score they have. You are A number 1. Have your boss call me. I have the best Luck being all **. Happy Saint Patrick's Day!I've worked with 10Ks Of people. And you're so professional about your passion for people and families you serve. You earned it working with me. You truly are the best at your job. You close Real Estate deals. And you're very good at it. Talk about 1 1/2Years working on this and you never gave up on me. He will always get my business and yes I will tell ten friends. To contract with you. I've already sent a fireman referral to you. I'll send others.
I'm a member at Madeira Beach American Legion top five legions in the nation on the ocean front I will put up a poster for members. I'm close friends with a current State Republican Representative, State Legislature aid, and the Mayor of Madeira Beach. Volunteered for the campaign the past year for door knocks On hundreds of homes for General elections in past November for current State Representative, who won. And of course I bought a home from Steve. He is the best. I'll see you soon for new business. It's just I bought a home with Steve and Veterans United yesterday. 1 mile from the beach in Clearwater Florida. It don't get better that for a 20 year Navy Veteran. Remember Keep the sun in your face and the wind behind you. Smooth sailing and until we meet again. Mark **. PS I do have a LinkedIn account for campaigning. Take a look. Thanks Steve!!!
Reviewed Nov. 9, 2023
Overall, we had a great experience with VA Home Plans! In the past with other home loan companies, we didn't feel as much warmth as we do now. After this experience, we will definitely be using VA Home Loans in the future when the time is right.
Reviewed Nov. 7, 2023
Veterans United knows veterans. And knows how to accommodate us. They helped my wife and I utilize my VA home loan I earned for my service in the United States Army. From beginning to the end they were there for us and explained everything along the way. It was truly one the best experiences ever. Thank you Veterans United Home Loans.
Reviewed Nov. 4, 2023
If you’re not using Veterans United for your home loans then you’re probably stressed out right now. Hopefully it’s not too late to switch to them. Nick and Mason were my team and I didn’t have a single worry the entire process.
Reviewed Nov. 4, 2023
Easy process with great rates. They walked me through each step of the process. This is our second time using them and will continue to do so in the future. Our loan officer was professional and always available when needed.
Reviewed Nov. 3, 2023
Veterans United did a great job helping purchase a home. The team was great and they also guided me in the right direction. I recommend anyone trying to buy a home to work with Veteran United Home Loans.
Sources
- Federal Financial Institutions Examination Council (FFIEC), “ HMDA Dataset Filtering .” Accessed September 15, 2022.
- U.S. Department of Veterans Affairs, “ Lender Statistics .” Accessed August 30, 2022.
- U.S. Department of Veterans Affairs, “ Eligibility requirements for VA home loan programs .” Accessed August 30, 2022.
Veterans United Home Loans Company Information
- Company Name:
- Veterans United
- Website:
- www.veteransunited.com
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