12 Best VA Mortgage Lenders of 2022

Pros:

• Get an approval online quickly
• Offers purchase and refinance loans
• Offers competitive interest rates
• Provides excellent customer service
• Provides a plethora of helpful resources 

Cons:

• No HELOC or home equity loan options
• They only offer VA loans
• Only has branches in 18 states

What We Like:

There’s a lot to love about Veteran’s United. They took good care of our veterans, ensuring they get the best loan terms available.

With no down payment requirements, competitive interest rates, and low fees, it’s easy to see why they are the #1 VA lender in the country.

Their online process makes it easy to get the loan you need fast, but with plenty of human support available if you have questions.

Read Full Veterans United Mortgage Review

Pros:

• Dedicated mortgage professional works with you the entire time
• Offers purchase, refinance, and even jumbo VA loans
• Easy application process and top-notch customer service
• No prepayment penalty

Cons:

• No physical offices to go to
• You must be comfortable handling your mortgage process online 

What We Like:

First, we love Quicken for any loan, not to mention VA loans. Because VA loans can be so confusing, we love the attention they give veterans with the dedicated mortgage professional assigned to you.

Quicken typically offers competitive rates and has a fast mortgage approval process, quickly getting you from application to closing.

Read Full Quick Loans Review

Pros:

• Offers a completely online process from rate quotes to application and underwriting
• Has a large selection of loan products, including refinance, purchase, and jumbo loans
• You can apply in person, online, or over the phone
• Approves more applicants than most lenders because of their manual underwriting process
• Transparent with their pricing

Cons:

• Interest rates are often higher than the national average
• You must talk to a loan officer before they’ll issue a pre-qualification online

What We Like:

We like the opportunity New American Funding offers non-traditional borrowers. Sometimes your credit score or income doesn’t show the true story.

At first glance, it looks like you can’t afford a loan, when in fact, you could be a great borrower with unique circumstances. The fact that New American provides that chance offers more opportunities for more borrowers.

Read Full New American Funding Review

Pros: 

• Doesn’t charge origination fees or lender fees
• Offers up to 100% financing for veterans
• Allows credit scores as low as 620 for veterans
• NASB is in full compliance of all VA regulations
• Offers competitive rates compared to the national average

Cons:

• Only has offices in Missouri
• Only offers one ARM option for veterans

What We Like:

NASB is licensed in all 50 states, even though they only have offices in MO. This makes it easy for any veteran to secure VA loan financing.

We love the low rates NASB offers, and the lack of origination or lender fees makes the loan even more affordable.

While VA loans are more affordable overall, NASB makes it even easier to secure financing.

Read Full NASB Mortgage Review

Pros:

• NBKC focuses on VA loans rather than throwing them in as an afterthought
• Offers customized rates based on your qualifying factors
• Most of the process is done online
• Allows borrowers with no credit to qualify with alternative accounts, like utility or insurance payments 

Cons:

• Focuses mostly on borrowers with great credit
• You need a credit score of at least 620

What We Like:

Finding a lender that focuses on VA loans besides the ‘big VA lenders’ in the country is hard. Most lenders add VA loans just to offer them but don’t put their heart and soul into them.

NBKC is different. They focus on VA loans, and almost half of their business is from veterans.

From their flexible guidelines to their quality customer service, it’s easy to see why many borrowers use them.

Read Full NBKC Bank Mortgage Review

Pros:

• Allows loans for surviving spouses of veterans
• Has over 100 branches to visit in person if you’d rather apply with a loan officer
• Offers a simple and effective online process
• Does a lot of Interest Rate Reduction Refinance Loans for current VA borrowers 

Cons: 

• You can’t pre-qualify online
• Minimal transparency online regarding rates or costs

What We Like:

Freedom makes it easy for veterans to get the financing they deserve. Whether you have a lower credit score or have unique circumstances, Freedom Mortgage works around it.

We like the option to work online or in-person and the competitive interest rates Freedom Mortgage offers.

Read Full Freedom Mortgage Review

Pros:

• Allows the use of alternative credit accounts to qualify
• Offers an online process (fairly new)
• Licensed in all 50 states
• Doesn’t charge origination fees on VA loans

Cons:

• You must talk to a loan officer to get rate quotes
• Only a few brick-and-mortar locations

What We Like:

Any bank with a focus on VA loans is a bonus in our book. VA loans can be tricky and confusing for veterans.

Having a bank with qualified loan professionals who will walk you through the process is something you should look for just as much as you look for low-interest rates.

We also like that BNC doesn’t charge origination fees on VA loans, saving veterans even more money.

Read Full BNC National Bank Mortgage Review

Pros:

• All applicants get a dedicated mortgage professional assigned to them
• Licensed in all 50 states
• Offers excellent customer service
• Most loan processes can be done online

Cons:

• Not transparent with their rates and fees
• Requires higher than average credit scores 

What We Like:  

We like the focus Veterans First provides veterans. The home loan process can be scary, especially for first-time homebuyers, but they walk you through it step-by-step.

We like their lower fees, online loan process, and excellent customer service to ensure you understand the VA loan you’re getting.

Pros:

• Low credit score requirements for VA loans
• Get pre-approved in as little as 15 minutes
• Has flexible guidelines
• If you refinance, they waive the fee if you already got a loan through them

Cons:

• Interest rates may be higher than average
• They almost always charge an origination fee

What We Like:

LoanDepot has a streamlined process that gets borrowers from application to closing fast. The fast-closing process can be refreshing if you’re in a hurry or just don’t like waiting.

We did find that LoanDepot has more flexible guidelines than other banks for VA loans, too – some banks make the requirements harder to ensure you can afford the loan, but LoanDepot tends to be more flexible.

Read Full LoanDepot Mortgage Review 

Pros:

• Doesn’t charge any fees
• Has low credit score requirements
• Covers the cost of most closing fees for veterans on streamline refinance loans
• Has a simple online process
• Scored high for customer service with JD Powers

Cons:

• The entire loan process isn’t 100% online, only some of it
• Doesn’t offer much in the way of VA refinancing

What We Like:

We think it’s important to work with a lender with extensive VA loan experience like USAA Mortgage has.

Even though the entire process isn’t online, talking to a loan officer can work to your benefit when you’re securing VA financing. With flexible underwriting requirements and low fees, it’s easy to see why veterans like USAA.

Read Full USAA Mortgage Review

Pros:

• You can get pre-approved online
• Offers competitive interest rates
• Specializes in VA loans
• Has alternatives for borrowers who don’t qualify for a VA loan

Cons:

• You must apply and let them pull your credit before you can get a quote
• Navy Federal is a credit union you must belong to 

What We Like:

There’s just something about the service you receive at a credit union. Veterans and their families are eligible for membership at Navy Federal, giving them access to VA loans and the Navy Federal alternatives.

The low rates and personal service is something you won’t find everywhere.

Pros:

• Offers a wide selection of terms for veterans
• Doesn’t charge lender fees
• Available in all 50 states
• Some homebuyers will be eligible for a closing cost credit

Cons: 

• Doesn’t have an online process
• You must open a savings account to apply

What We Like:

Credit unions are often a safe and affordable place to secure a VA loan.

PenFed doesn’t charge veterans any fees, which is great because there are still VA fees all borrowers must pay, making it cheaper for borrowers.

PenFed offers both purchase and refinance options for veterans, giving you more choices.