Veterans United has emerged as a prominent choice for those seeking VA-backed home loans, standing out as the largest VA loan lender in the United States. The company is especially supportive of borrowers with military ties, providing round-the-clock customer service that caters to international service members and their families. This commitment to service is reflected in its recognition as one of the best mortgage lenders for VA borrowers by Yahoo Finance. Its user-friendly website is filled with informative resources designed to assist military families in navigating the home buying process, making Veterans United a preferred option for many seeking to leverage VA loans.
One of the key advantages of choosing Veterans United is its exceptional customer service, available 24/7 to accommodate the unique needs of military families who may be stationed across different time zones. Additionally, the lender offers a variety of educational resources tailored for first-time home buyers, including a comprehensive home-buying guide and a web course that simplifies the lending process. Veterans seeking to improve their credit are also supported through counseling services. Furthermore, veterans utilizing Veterans United Realty can benefit from a rebate towards their closing costs, which adds tangible value to their home purchase.
In terms of lending volume, Veterans United consistently surpasses its competitors, issuing nearly double the amount of VA loans compared to the second-largest lender in the space. Its focus on VA loans has garnered praise from industry analysts, as evidenced by its top ranking in the J.D. Power Mortgage Origination Satisfaction Study. However, prospective borrowers should be aware that Veterans United does not offer adjustable-rate mortgages, which could limit some options for borrowers looking for variable-rate plans. The lender’s website provides extensive information on various loan types, including conventional loans, refinance options, jumbo loans, and cash-out refinances.
Navigating the VA mortgage process with Veterans United is streamlined and straightforward. The website guides borrowers through essential questions regarding home affordability and different loan types, while also detailing the advantages of VA-backed loans. The mortgage preapproval process is also thoroughly explained, along with advice on selecting real estate agents. An efficient loan application process is initiated online, allowing borrowers to engage in their loan application comfortably, although they will ultimately need to switch to a separate system for tracking their application’s progress.
Despite its strong focus on VA loans, Veterans United does not provide equity loans or lines of credit, opting instead for cash-out refinances. This limitation may be inconvenient for homeowners looking to access home equity as a financial resource, particularly given the current low mortgage rates, which make refinancing less appealing. Interest rate offerings are outlined clearly on the website, displaying current rates based on a standardized credit score, but borrowers should be aware that their actual rates may vary depending on their personal financial circumstances.
Yahoo Finance’s evaluation of Veterans United reflects its overall strengths and weaknesses as a mortgage lender. Notably, while the lender has a high rating for customer satisfaction and robust educational resources, its interest rates were rated lower than the median according to the Home Mortgage Disclosure Act data. This indicates that while the lender excels in customer support and education, potential borrowers should carefully consider their options for interest rates and loan costs. Ultimately, for veterans and military families, the expertise and singular focus of Veterans United on VA loans makes it a formidable choice, despite some limitations in service offerings compared to broader conventional lender options.
