Best VA Mortgage Lenders of June 2023
VA loans for current and veteran military members don't require a down payment or mortgage insurance. Compare our picks for best VA mortgage lenders of 2023.
Some or all of the mortgage lenders featured on our site are advertising partners of NerdWallet, but this does not influence our evaluations, lender star ratings or the order in which lenders are listed on the page. Our opinions are our own. Here is a list of our partners.
VA mortgage lenders vary in the products and services they offer and their financial requirements for borrowers, so it's important to shop around for a VA loan lender that meets your needs.
NerdWallet picked some of the best VA mortgage lenders in a variety of categories to give you a head start.
Best VA Mortgage Lenders
National / regional
Min. down payment
Navy Federal: NMLS#399807
Best for VA lending volume
Best for ease of application
Veterans United: NMLS#1907
Best for VA lending volume
BNC National Bank: NMLS#418467
Best for traditional lending experience
Best for VA refinancing
- Offers a wide range of affordable mortgage products, including 0% down payment loans, designed for military members.
- Offers HELOCs and home equity loans.
- Offers low rates compared with most lenders, according to the latest federal data.
- Website does not provide customized mortgage rates based on credit score or other factors before you apply.
- Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.
- Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
- Offers low rates and fees compared with other lenders, according to the latest federal data.
- Displays customized rates, with fee estimates, without requiring contact information.
- HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
- Offers 24/7 customer service over the phone.
- Offers a free credit counseling service.
- Mortgage rates are on the low side, according to the latest federal data.
- Doesn’t offer home equity loans or HELOCs.
- Veterans United doesn't have branch offices in every state.
- Offers a wide variety of loan types and products.
- Has robust online capabilities, and an app for iOS and Android.
- Mortgage interest rates are lower than typical, according to the latest data.
- Has a limited number of physical mortgage offices.
- No rate information is available without starting an application or speaking with a loan officer.
- Does not offer home equity loans or lines of credit.
- Offers multiple low-down-payment loan programs.
- May consider alternative credit data, such as bank statements.
- You can view customized rates for purchasing a home and apply online.
- Doesn't offer home equity lines of credit.
- Lender fees are on the high side, according to the latest federal data.
- Offers a wide range of loan types and products, including FHA, VA and USDA.
- Borrowers can apply and track loan status online.
- Offers customized online rate quotes with monthly payment estimates, including mortgage insurance, when applicable.
- Home equity loans are geographically limited.
- Origination fees are on the high side compared with other lenders, according to the latest federal data.
Qualifying for a VA loan
VA home loans are backed by the U.S. Department of Veterans Affairs and provided by private lenders. VA loans require no down payment or mortgage insurance and have competitive mortgage rates compared to other types of home loans.
Active-duty military members and veterans who meet length-of-service requirements may apply for a VA loan. Some surviving spouses may also be eligible for a VA loan.
Special fees associated with VA loans
Borrowers are required to pay a “funding fee,” which could be compared to a one-time mortgage insurance payment since it protects the VA’s interest in case you default. This fee will amount to a certain percentage of your mortgage, which is calculated based on factors like your down payment and whether or not you’ve used your VA entitlement before.
Alternatives to VA loans
You may be denied a VA home loan if you don't meet the basic VA loan eligibility requirements or don't meet a lender's financial requirements. An FHA loan, insured by the Federal Housing Administration, might be an alternative if you have a lower credit score.
Some lenders may also have their own proprietary loan programs that fit the needs of service members. For example, Navy Federal Credit Union has a Military Choice Home Loan option for borrowers who have exhausted their VA loan benefit.
More from NerdWallet
Last updated on June 1, 2023
The star ratings on this page reflect each lender's performance in NerdWallet’s VA loans category. We scored the category and chose lenders for this page using the following methodology:
NerdWallet reviewed more than 50 mortgage lenders, including the majority of the largest U.S. mortgage lenders by annual loan volume (measured among lenders with at least a 1% market share), lenders with significant online search volume and those that specialize in serving various audiences across the country.
All reviewed mortgage lenders that offer VA loans were evaluated based on (1) their VA purchase and refinancing options (2) the portion of their business dedicated to VA lending, (3) their VA origination fees, (4) their rate transparency, and (5) the ease of their online application. The highest scoring lenders appear on this page.
NerdWallet solicits information from reviewed lenders on a recurring basis throughout the year. All lender-provided information is verified through lender websites and interviews. We also utilized 2021 HMDA data for origination volume, origination fee, average interest rate and share-of-product data.
NerdWallet's Best VA Mortgage Lenders of June 2023
- Navy Federal: Best for VA lending volume
- NBKC: Best for ease of application
- Veterans United: Best for VA lending volume
- BNC National Bank: Best for traditional lending experience
- Carrington: Best for VA refinancing
- Flagstar: Best for VA refinancing
Frequently asked questions
- What lender is best for VA loans?
All VA loans are subject to rules and guidelines set by the U.S. Department of Veterans Affairs. Individual VA lenders vary by the services and options they offer as well as the requirements they set for borrowers, such as minimum credit scores, however. This is why it's important to shop around to compare mortgage rates and qualification requirements.
- What is the current interest rate for VA loans?
VA mortgage rates fluctuate daily, just as rates for other loans do. Rates also vary by lender, and the rate you're offered will depend on a variety of factors, such as your credit score. When shopping VA lenders, compare the annual percentage rate, or APR, to get a complete picture of the true costs. The APR includes the interest rate, fees and other costs of the loan.
- What credit score do you need to qualify for a VA loan?
The Department of Veterans Affairs doesn't set a minimum credit score for VA loans. But lenders can have their own requirements, and they often look for scores of 620 or higher. Lenders that accept lower scores may require applicants to meet stricter standards in other areas. VA lenders will also look at other factors, such as your debt-to-income ratio, to evaluate your ability to repay the loan.