Top 10 VA Mortgage Lenders of 2021

1. Veterans United Home Loans

Veterans United Home Loans consistently ranks as one of the top VA mortgage lenders in the industry. Their focus on providing excellent customer service and competitive rates has earned them a strong reputation among military personnel and their families. With a streamlined application process and a team of knowledgeable loan officers, Veterans United makes getting a VA loan quick and easy.

2. USAA

USAA is another top VA mortgage lender that is known for its personalized service and commitment to helping military members achieve their homeownership goals. They offer a range of VA loan options, including fixed-rate and adjustable-rate mortgages, as well as refinancing options for current homeowners. USAA also provides educational resources to help borrowers understand the VA loan process and their options.

3. Navy Federal Credit Union

Navy Federal Credit Union is a popular choice for active duty military personnel and veterans looking to purchase or refinance a home with a VA loan. They offer competitive rates and a variety of loan options to meet the needs of different borrowers. Navy Federal also provides personalized support throughout the loan process, making it a top choice for military members.

4. Quicken Loans

Quicken Loans is a well-known mortgage lender that offers VA loans with low down payments and competitive interest rates. They have a reputation for excellent customer service and a simple online application process. Quicken Loans also provides educational resources and tools to help borrowers make informed decisions about their VA loan.

5. Veterans First Mortgage

Veterans First Mortgage is a top VA mortgage lender that specializes in helping veterans and active duty military members navigate the VA loan process. They offer a variety of loan options, including VA loans, FHA loans, and conventional loans, to meet the needs of different borrowers. Veterans First Mortgage is known for their personalized service and commitment to assisting military personnel achieve their homeownership goals.

6. Caliber Home Loans

Caliber Home Loans is a leading VA mortgage lender that offers competitive rates and a variety of loan options for military members and their families. They have a team of experienced loan officers who are dedicated to helping borrowers find the right loan for their needs. Caliber Home Loans also provides online tools and resources to guide borrowers through the VA loan process.

7. Freedom Mortgage

Freedom Mortgage is a top VA mortgage lender that focuses on providing competitive rates and excellent customer service to military members and their families. They offer a variety of VA loan options, including fixed-rate and adjustable-rate mortgages, as well as refinancing options for existing homeowners. Freedom Mortgage is known for their efficient loan process and commitment to helping borrowers achieve their homeownership goals.

8. LoanDepot

LoanDepot is a top VA mortgage lender that offers a range of loan options, including VA loans, FHA loans, and conventional loans. They have a user-friendly online application process and a team of experienced loan officers who are dedicated to helping borrowers find the right loan for their needs. LoanDepot also provides educational resources and tools to help borrowers understand their VA loan options.

9. NewDay USA

NewDay USA is a top VA mortgage lender that specializes in providing VA loans to military members and their families. They offer competitive rates and a variety of loan options, including VA loans, FHA loans, and conventional loans. NewDay USA is known for their quick loan approval process and personalized service, making them a popular choice among military personnel.

10. LendingTree

LendingTree is a top VA mortgage lender that offers a simple online application process and a variety of loan options for military members and their families. They work with a network of lenders to provide competitive rates and flexible terms on VA loans. LendingTree also offers educational resources and tools to help borrowers compare loan options and find the best fit for their needs.

FAQs

What is a VA loan?

A VA loan is a mortgage loan program available to current and former military service members that is backed by the U.S. Department of Veterans Affairs (VA). VA loans are designed to help military personnel and their families purchase or refinance a home with favorable terms, including no down payment and lower interest rates.

Who is eligible for a VA loan?

Eligibility for a VA loan is typically available to active duty service members, veterans, National Guard members, and Reservists who meet certain service requirements. Surviving spouses of military members who died in service or as a result of a service-connected disability may also be eligible for a VA loan.

What are the benefits of a VA loan?

Some benefits of a VA loan include no down payment required, no private mortgage insurance (PMI) required, competitive interest rates, and flexible credit requirements. VA loans also do not have prepayment penalties, allowing borrowers to pay off their loan early without incurring additional fees.

How do I apply for a VA loan?

To apply for a VA loan, you will need to obtain a certificate of eligibility (COE) from the VA, which verifies your military service and eligibility for the program. You will then need to find a VA-approved lender who offers VA loans and complete their application process. The lender will review your financial information, credit history, and other documentation to determine your eligibility for a VA loan.

Can I refinance my existing mortgage with a VA loan?

Yes, you can refinance your existing mortgage with a VA loan through the VA Interest Rate Reduction Refinance Loan (IRRRL) program, also known as a VA Streamline Refinance. This program allows eligible borrowers to refinance their current VA loan to a lower interest rate without the need for a new appraisal or credit check.

What fees are associated with a VA loan?

Some fees associated with a VA loan may include a funding fee, which is a one-time fee paid to the VA to help offset the cost of the program. The funding fee amount varies depending on the borrower’s military service and whether they have used their VA loan benefit before. Other fees may include appraisal fees, title fees, and closing costs, which can vary depending on the lender and location of the property.