Veterans United Home Loans Review and Comparison

Veterans United Home Loans is a well-established mortgage lender that specializes in VA loans for military veterans and their families. They have been in business for over 20 years.

With a strong reputation and a wide range of loan options, Veterans United Home Loans is a popular choice for those looking to finance their dream home. Their team of experts is dedicated to providing top-notch service and guidance throughout the home buying process.

Veterans United Home Loans offers a variety of loan programs, including VA loans, FHA loans, and conventional loans. They also offer a range of mortgage options, such as fixed-rate and adjustable-rate loans.

Their website is user-friendly and easy to navigate, making it simple for borrowers to get pre-approved and start the home buying process.

Veterans United Home Loans is a top-notch lender that offers a range of benefits to its customers. One of the standout features is their 24/7 customer service, which is especially helpful for those stationed overseas.

Their customer satisfaction ratings are also impressive, with top-rated customer satisfaction for mortgage origination, according to J.D. Power.

Here are some of the key pros of working with Veterans United Home Loans:

Veterans United is a top VA lender, according to the Department of Veterans Affairs data. It's a great option to consider for your mortgage needs.

The lender offers 24/7 customer service, which is especially helpful for those stationed overseas. This level of support is a game-changer for busy military families.

Veterans United has top-rated customer satisfaction for mortgage origination, according to J.D. Power. This means you can trust that you'll be working with a reliable and responsive team.

Here are some of the key pros of working with Veterans United:

One of the things that sets Veterans United apart is its in-house network of realtors and insurance companies. This can make the home buying process much smoother and more convenient.

With Veterans United, you can apply online and take advantage of their 24/7 availability for customer care. They also offer a power of attorney signing option, which can be a huge help for those who need it.

Veterans United has a limited number of branches, with only two dozen serving 17 states. This means most customers won't be able to visit a physical branch.

The company's website provides limited information about non-VA loans, and it doesn't disclose rates for non-VA loans. This can make it difficult for customers to make informed decisions.

Veterans United doesn't offer home equity loans or home equity lines of credit (HELOCs), which may be a drawback for some customers.

Here are some of the key cons of working with Veterans United:

Veterans United offers a range of features and services to support military service members and veterans through the homebuying process. These include a large library of educational resources, a free homebuying course, and free credit counseling for those with insufficient credit scores.

The company's library of educational resources is particularly useful, covering topics such as VA loans and the best cities for veterans to live in. Additionally, Veterans United's mobile app allows borrowers to apply for their loan, upload and sign loan documents, and manage their loan after closing.

Veterans United also has a team of realtors who specialize in assisting military members and families with VA loans. These realtors work closely with loan officers to ensure a smooth process, and are experienced in navigating the VA loan process.

Veterans United offers a range of resources to help you navigate the homebuying process.

Their extensive library of educational resources is a great place to start. You'll find articles and guides that cover the basics of VA loans, as well as more general information about the homebuying process.

The lender's free VA homebuying course is another valuable tool. This 10-lesson video series covers everything from preparing for a home purchase to reusing your VA loan benefit in the future.

Veterans United also provides free credit counseling for veterans who need a little extra help boosting their credit score.

To help you plan your home purchase, the lender offers a range of mortgage calculators. These include tools for calculating VA mortgage payments, affordability, and loan limits.

You can even manage your loan after closing using Veterans United's mobile app. This app allows you to upload and sign loan documents, apply for your loan, and track its progress.

Veterans United offers a range of services beyond its mortgage offerings. One notable service is its real estate affiliate, Veterans United Realty, which provides a nationwide network of real estate agents specializing in helping veterans buy homes.

Veterans United Realty agents can help you navigate the homebuying process and may even offer savings on closing costs or interest rates if you use both their services and Veterans United Home Loans.

The company also has an insurance agency, Veterans United Insurance, which offers home, auto, and life insurance policies to military veterans. However, it's worth noting that Veterans United works with partner companies to underwrite its policies, so you may not get the best rates by working with their insurance agency alone.

Here are some insurance options offered by Veterans United's partner companies:

It's essential to shop around for every service individually, including your mortgage loan and insurance, to ensure you're getting the best rates.

To apply for a mortgage with Veterans United, you'll need to go through a straightforward process. First, get pre-approved by answering a few key questions about your homebuying goals and military experience.

The pre-approval process is relatively quick, and you'll be prompted to set up an account and complete your application. You'll share information about your employment and income, and ultimately consent to a credit check, which may impact your credit score.

Once you're pre-approved, you can start shopping for a home. You'll need to complete your loan application once you're under contract. The official loan approval process is a bit more in-depth than the pre-approval process.

The underwriting process typically takes 45 days, and Veterans United makes it easy to manage your loan application online or through its mobile app. A loan officer will underwrite your loan, and you'll need an appraisal of the home you're buying.

Here's a step-by-step overview of the application and approval process:

Keep in mind that the credit check may impact your credit score, and you'll need to appear in person for the final closing process, but you can sign your closing documents digitally.

Veterans United shares its current VA loan interest rates on its website, and they're slightly under or on par with the national average for both 30-year and 15-year fixed-rate VA loans.

Getting multiple quotes is important when shopping for a home loan, and seeking at least four quotes can result in an average annual savings of $1,200, according to a report by Freddie Mac.

Veterans United charges a flat 1% origination fee on its loans, which is on the high end of normal for most lenders. You'll also have to pay a VA funding fee, but that's charged by the VA rather than Veterans United and will apply no matter what lender you borrow from.

Interest rates for VA loans are determined by lenders based on the borrower's financial circumstances, and Veterans United's rates may vary depending on your unique financial conditions, such as credit score, type of VA loan, loan term, and current market conditions.

Here are some factors that can affect your loan rate:

Veterans United has truly outstanding customer satisfaction scores, with the highest ranking of any lender in J.D. Power’s 2023 U.S. Mortgage Origination Satisfaction Study.

Their average rating on Trustpilot is a whopping 4.9 out of 5 stars, based on over 11,000 reviews, 96% of which are 5-star reviews. Customers rave about the company's excellent customer service and the ease of the homebuying process.

Most of these reviews specifically reference VA loans, but it's clear that Veterans United is dedicated to providing an exceptional experience for all their customers.

At Veterans United Home Loans, a staggering 91% of employees say it's a great place to work. This is a testament to the company's commitment to creating a positive and supportive work environment.

The numbers are impressive, but what does this really mean for customers? In a typical U.S.-based company, only 57% of employees feel the same way, so Veterans United Home Loans is clearly doing something right.

Happy employees are more likely to provide excellent customer service, which can make all the difference in creating a positive customer experience. This is especially important in the mortgage industry, where customers often have high stakes and are counting on accurate and timely service.

Veterans United Home Loans has clearly found a winning formula, and it shows in the way their employees feel about working there.

Veterans United has truly outstanding customer satisfaction scores, with the highest ranking of any lender in J.D. Power's 2023 U.S. Mortgage Origination Satisfaction Study.

Their average rating on Trustpilot is 4.9 out of 5 stars, based on more than 11,000 reviews, with an astonishing 96% of them being 5-star reviews.

Many reviews praise the company's excellent customer service and the ease of the homebuying process, but it's worth noting that most of these reviews specifically reference VA loans.

Veterans United has an impressive track record of being ranked at the top of independent review lists for years on end, with over 200,000 customer reviews, of which more than 150,000 were 5-star.

Their overall score for customer satisfaction is 4.8 out of 5, and more than 98% of their customers say they would recommend the company.

The company's commitment to customers comes from employees upholding the company's values of delivering results with integrity and enhancing lives every day.

They offer a 24/7 customer service line that allows you to call and ask real people any questions you have about the company, what they offer, and your loan process.

At Veterans United Home Loans, you're not just getting a mortgage – you're getting a team of experts who will guide you through the process. With a 4.35-star rating, Veterans United is a top choice among homebuyers.

The company's online application process is straightforward and easy to use, just like its competitors Navy Federal Credit Union and Rocket Mortgage, which also offer online applications.

Veterans United has a relatively quick processing time, closing loans in an average of 32 days, compared to 30 days for Navy Federal Credit Union and 37.5 days for Rocket Mortgage.

Customer satisfaction is also a priority, with Veterans United boasting a 70% customer experience score, slightly lower than Rocket Mortgage's 100% but still a respectable showing.

Here's a comparison of Veterans United with other top lenders:

Ultimately, the decision to choose Veterans United Home Loans depends on your individual needs and circumstances.

Veterans United doesn't require a minimum credit score for VA loans, but most lenders, including Veterans United, require a score of at least 620.

The Department of Veterans Affairs sets the basic requirements for VA loans, and borrowers should also have a valid Certificate of Eligibility (COE) and meet Veterans United's minimum qualification requirements.

Most lenders want a credit score of 620 or higher for a mortgage, but FHA loans might accept scores as low as 580. Veterans United's Lighthouse Program offers free credit consulting to help service members improve their mortgage credit scores.

To improve your credit score, pay your bills on time, cut down on credit card balances, and avoid new credit checks.

To qualify for a VA loan, you'll need to meet the basic requirements set by the Department of Veterans Affairs (VA). This includes having a valid Certificate of Eligibility (COE).

The VA doesn't require a minimum credit score, but most lenders do, with a score of at least 620 being the standard. You'll also need to consider your employment status and household income.

Veterans United, a popular lender, requires a minimum credit score of 620 to qualify for a 0% down payment. They'll also check your debt-to-income ratio and capacity to pay.

Most lenders, including Veterans United, require a minimum of 2 years' employment history. However, if you're disabled or deployed during the past two years, this requirement may be waived.

Credit Consulting is a vital service for those seeking a VA loan, especially those with low credit scores. Veterans United offers a free credit consulting service called the Lighthouse Program, which helps borrowers improve their mortgage credit scores.

This service is designed to guide borrowers through the process of building good credit, allowing them to get pre-qualified for a home loan. With the Lighthouse Program, borrowers work one-on-one with a credit counselor to identify and correct errors on their credit report.

The program focuses on mortgage credit scores, which are different from the typical scores from credit monitoring services. Veterans United helps borrowers monitor their mortgage credit scores, making it easier to get pre-qualified for a home loan.

To qualify for the Lighthouse Program, borrowers typically need a credit score of at least 620. However, the program can be beneficial for those with lower scores, as it provides a roadmap to improvement.

Here are some essential credit score requirements and improvements to keep in mind:

By working on areas like payment history, debt, credit mix, and new credit, borrowers can raise their FICO score and improve their mortgage chances. Paying bills on time and avoiding new credit checks can also help improve credit scores.

Mortgage terms can be as short as 15 years or as long as 30 years. This significant difference affects how much you pay each month and the total interest you'll pay over time.

A shorter term like 15 years means you'll be paying a lot more each month, but you'll also pay less interest overall. This can be a good option if you have a stable income and can afford the higher payments.

On the other hand, a longer term like 30 years has lower monthly payments, but you'll end up paying more interest over the life of the loan. This might be a better choice if you're on a tighter budget and need to keep your payments manageable.

It's essential to consider your financial goals and situation before choosing a mortgage term.