Veterans United Home Loans is a mortgage lender that specializes in VA loans. They have brick-and-mortar branches in 17 states.
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Pros
- Get VA loans with 0% down payments.
- Interest rates are lower than industry standards.
- Provide 24/7 customer support.
- Multiple loan options are available.
Cons
- HELOC and home equity loans not available.
- Doesn't give customized mortgage rates online.
Veterans United Home Loans is an online mortgage lender that primarily focuses on VA loans. Their vision is to help veterans become homeowners. Veterans United also offers conventional loans, jumbo loans, and FHA loans.
Veterans United offers lower interest rates than the national average. For instance, as of December 16, 2023, the 30-year fixed VA purchase loan interest rate was 6.96%. Veterans United’s advertised interest rates on the same day, for a similar financial profile was 5.625%.
Though Veterans United only has branches in 17 states, their online portal helps them achieve nationwide coverage. You can fill out a form on their website or contact them via phone. You can also track application progress, and pay mortgage installments online.
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✍️ Editor’s Take: Veterans United has a 100% online process, competitive interest rates, and stellar customer service. Hence, Veterans United is great for VA loans.
Is Veterans United Home Loans Legit?
Yes, Veterans United Home Loans is a legitimate mortgage lender. They are headquartered in Columbia, Missouri. The company was founded by brothers Brant and Brock Bukowsky in 2002.
Veterans United has maintained the position of being the top VA purchase lender for each fiscal year spanning from 2016 to 2022. They have surpassed all other lending companies in loan volume for VA loans.
Veterans United Home Loans Locations
Veterans United Home Loans has brick-and-mortar offices in 26 cities in 17 states. However, they are licensed and serve in all 50 states. Their web portal allows them to extend services throughout the nation.
Veterans United’s online approach is helpful. You can easily apply for a mortgage and track its progress. You can also contact Veterans United’s customer service which is available 24/7.
| States | Cities |
|---|---|
| Alabama | Serving Fort Novosel |
| California | Auburn, San Diego |
| Colorado | Colorado Springs |
| Florida | Tempa |
| Georgia | Augusta, Hinesville, Savannah |
| Hawaii | All Islands |
| Idaho | Mountain Home |
| Illinois | Scott Air Force Base |
| Kentucky | Fort Knox |
| Nebraska | Omaha |
| North Carolina | Fayetteville, Jacksonville |
| Oklahoma | Fort Sill, Oklahoma City |
| South Carolina | Charleston, Greenville |
| Tennessee | Clarksville |
| Texas | Austin, Killeen, San Antonio |
| Virginia | Hampton Roads |
| Washington | Puyallup |
Eligibility for VA Loans
Veterans United specializes in VA loans. The eligibility criteria for Veterans United VA loans is:
- Served 90 consecutive days of active duty during wartime.
- Completed 181 days of active service during peacetime.
- Accumulated 6 years of service in the National Guard or Reserves, or served 90 days (with at least 30 days consecutively) under Title 32.
- Qualified as the spouse of a service member who died while serving or due to a service-related disability.
- Discharged due to hardship, at the convenience of the government, as part of a reduction in force, or due to a medical condition or a service-connected disability.
- Discharged early and completed a minimum of 21 months out of a 2-year enlistment commitment.
Veterans United Home Loans Mortgage Rates
Veterans United gives you estimates for VA loan interest rates only. For other types of loans, you can get a customized quote on their website. Fill out details about your income, housing allowance, debt payment, and down payment.
For VA loans, Veterans United’s minimum credit score requirement is a 600 FICO score. On December 6th, 2023, Veterans United mortgage rates were:
| Parameters | 30-Year Fixed VA Purchase Loan | 20-Year Fixed VA Purchase Loan |
|---|---|---|
| Rate | 5.875% | 5.875% |
| APR | 6.329% | 6.481% |
| Points | 1.8130 ($5348.35) | 1.8130 ($5348.35) |
Disclaimer: Rates are based on a credit score of 720.
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✍️ Take Note: Veterans United also provides refinancing, adjustable rates, and fixed rate loans. However, information on interest rates and APRs are not available on their website. You can contact their customer service for this.
How to Apply For a Mortgage?
On Veterans United’s website, click the ‘check your eligibility’ button. If eligible, your account will be created and you will be prompted to another extensive form.
This form will require information about your purchase, personal income, and finances including any property you already own or any other source of income you have.
Lastly, Veterans United runs a soft credit check. You can expect to hear from them within 1 business day via mail or call.
Veterans United Fees
Veterans United charges 1% of the loan amount which includes origination, processing, and underwriting fees or a minimum of $3,500. Their fees are in line with the industry standards.
They also charge VA funding fees. This is a one-time cost and ranges from 1.25% to 2.15% of the loan’s amount.
Veterans United Reviews
Veterans United Home Loans reviews have secured an impressive 4.9 out of 5-star rating on Trustpilot. These ratings are based on 10,606 reviews. Here is what their customers say about them:
Veterans United Reviews: Praises
✅ Cara was highly satisfied with the services provided by Veterans United. She the prompt response of their customer service.
Robert and the team made the (typically) stressful home buying process so much smoother than I expected. They always fully answered all of my questions quickly and communicated what to expect next. I was expecting to cry at some point in this process but nope! It was a very positive experience. This company has the process down to a science and it operates like a well-oiled machine, complete with helpful and kind people working for you!
Source: Trustpilot
✅ Dane was pleased with Veterans United’s services as they helped him buy his dream home.
I never thought I would be able to get a house. My wife and I took a shot in the dark and brought a battle buddy in Veterans United with us. There were many, MANY scary moments along the way, but VU led the charge AND WE HAVE A HOUSE!
Source: Trustpilot
Veterans United Home Loan Reviews: Complaints
❌ David highlighted that they sold his loans to other lenders which cost him $300 per month. This was due to the different escrow policies of the other company.
I was a happy customer of Veterans United and they sold my loan off to another company, Carrington. Since then, Carrington has jacked up the my monthly payments over $300 because of their policies on escrow payments.
Source: Trustpilot
❌ Kyle has an unpleasant experience with Veterans United’s underwriting team. This delayed the closing by almost a week.
Horrible. Started out warm and welcoming but towards the end with underwriting I submitted every little document they asked for and less than 1 week before closing going into a weekend they started a document I submitted 2 weeks prior and it was marked off needed to be redone. It took me 1.5 weeks to get the first letter and they expect me to spit out another one next day after having nothing pending me for weeks.
Source: Trustpilot
Veterans United Home Loans Pros and Cons
Let’s see the benefits and drawbacks of Veterans United.
👍 Pros
Veterans United has the following advantages:
- Lower Interest Rates: Veterans United VA loan rates are lower than the industry average.
- Extensive Experience: Veterans United has been in the business for 20 years. They have been the top VA mortgage lender for 7 consecutive years. Their expertise resolves any complexities you face during the lending process.
- Stellar Customer Service: Veterans United’s customer praise their service. They offer 24/7 assistance. So, you can contact them easily even if you are serving overseas.
- Multiple Loan Options: Although they’re popular for VA loans, you can borrow other types of loans from them. They offer conventional loans, jumbo loans, and FHA loans.
👎 Cons
Veterans United has the following limitations:
- No Home Equity Loans: Veterans United doesn’t offer home equity loans or HELOC loans.
- Lack of Information: Veterans United’s website doesn’t have information like interest rates and APRs for loans other than VA loans. You have to contact their customer service to know that.
Veterans United Competitors
» Jump to: Veterans United vs. Navy Federal | Veterans United vs. USSA
1. Veterans United vs. Navy Federal
Veterans United and Navy Federals specialize in VA loans. If we had to compare interest rates and savings, you would get slightly better benefits than Veterans United.
Navy Federals advertises an interest rate as low as 5.625%. These rates are for borrowers with a strong financial profile. They run multiple special programs to offer additional savings to the borrowers.
2. Veterans United vs. USSA
USSA Home Loans is also a VA loans specialist like Veterans United. You need a minimum credit score of 640 to get a VA loan from USSA Home Loans. Whereas with Veterans United, you can qualify with a FICO score of 600.
USSA advertised VA purchase loan rates of 6.750%. For Veterans United, you only have to pay an interest rate of 5.875%. So clearly, Veterans United is a better choice for you.
Is Veterans United a Good Mortgage Company?
Yes. If you are looking for VA loans, Veterans United Homes Loans are a good choice for you. They offer competitive rates and 100% customer satisfaction. But if you are looking for other types of loans, you might want to do a bit more research.
Veterans United doesn’t provide many details of other types of loans on their website. Therefore, we can’t recommend them for it. We suggest you read reviews on mortgage lenders like Rocket Mortgage and Better Mortgage for these loans.
Veterans United FAQs
What is Veterans United?
Veterans United is a mortgage lender that specializes in VA loans. They offer competitive interest rates and stellar customer service to eligible veterans. They also offer other types of loans. As they don't provide any information about these loans on their website, you need to contact their customer service to know the interest rates.
Is Veterans United trustworthy?
Yes, Veterans United is a trustworthy company. Veterans United reviews have an impressive rating of 4.9 out of 5-star reviews, showcasing their customer satisfaction. Moreover, they have been the top VA loan providers in the US for the last 7 years.
Does Veterans United offer conventional loans?
Yes, Veterans United offers conventional loans. However, they do not offer any information about these loans on their website. If you are looking for conventional loans, you can go for either Better Mortgage or Rocket Mortgage. They offer competitive rates and stellar customer service.
Does Veterans United sell their loans?
Yes, they do. Multiple customer reviews of Veterans United talk about it. These reviews also highlight the problems they had to face due to this practice. The problems usually occur because the lenders that purchase these loans have different policies than Veterans United.
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