Best of

Best VA Mortgage Lenders of August 2019

At NerdWallet, we strive to help you make financial decisions with confidence. To do this, many or all of the products featured here are from our partners. However, this doesn’t influence our evaluations. Our opinions are our own.

VA loans offer military families better interest rates and don’t require mortgage insurance. Compare our picks for best VA mortgage lenders of 2019.

Veterans United

at Veterans United

Min. Credit Score

620

Min. Down Payment

0%

Pros

  • Also offers FHA, USDA and conventional loans.
  • Offers 24/7 customer service.
  • You can complete a loan application and pre-qualify online.
  • Registers a low volume of complaints filed with the Consumer Financial Protection Bureau.
  • Offers free credit score education and assistance.
  • Provides a client advocate team staffed by former senior enlisted leaders from each branch of the armed forces.

Cons

  • Doesn’t offer home equity loans or HELOCs.
  • Loans are available in all 50 states, but Veterans United has offices in only about half.
Read full review
Quicken Loans

at Quicken Loans

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Quicken Loans couples a fully online application with available mortgage advisors for those who want a human touch.
  • Instantly verifies employment and income for more than 60% of working Americans.
  • Offers custom fixed-rate loan terms that are between eight and 30 years.
  • Provides FHA-backed loans, USDA loans as well as products offered by Freddie Mac and Fannie Mae that require down payments as low as 3%.

Cons

  • Doesn't offer home equity loans or HELOCs.
  • If you’re a “look me in the eye” type of customer, you’re out of luck.
  • Doesn’t consider alternative credit data. It just looks at credit scores and debt-to-income ratios, the way most mortgage lenders always have.
Read full review
New American Funding

at New American

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Uses manual underwriting to evaluate creditworthiness.
  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Services not available in all 50 states.
Read full review
BNC National Bank

at BNC National Bank

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Loan officers are well-versed in VA loan process.
  • Low minimum credit score for government loans.
  • Down payments as low as 3% on conventional loans.
  • Considers alternative credit data, like cell phone payments.

Cons

  • No online preapproval.
  • Typically charges a $1,095 lender fee.
  • Limited number of physical mortgage offices.
Read full review
NBKC

at NBKC Bank

Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Complete and track your application online, and sign documents electronically.
  • Free rate locks.
  • No lender fee for VA borrowers.
  • Mobile apps for iOS and Android.

Cons

  • Not the best choice for low-credit-score borrowers.
  • Mortgage origination fee for most borrowers.
  • In-person service available only in the Kansas City area.
Read full review
Min. Credit Score

600

Min. Down Payment

0%

Pros

  • Specializes in VA loans and working with military borrowers.
  • Offers several low-down-payment government loan options so borrowers can choose the best fit.
  • Website helps borrowers estimate their VA loan fees.

Cons

  • You can’t get an instant rate quote online.
  • Doesn’t offer conventional home loans.
  • Has only five loan centers in a handful of Western states.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Participates in some state down payment assistance programs.
  • Offers educational resources for military borrowers.
  • Provides digital tools for a streamlined application process.

Cons

  • No mortgage rates displayed online.
  • Must work with a loan officer for pre-qualification and preapproval.
Read full review
National / Regional

National

Min. Down Payment

0%

Pros

  • Wide range of affordable mortgage products designed for military members.
  • Willing to look at nontraditional credit data, such as rent payments, as part of its credit evaluation for certain products.
  • Lower minimum loan amounts than many other lenders.
  • Online application for preapproval with quick decision.
  • $1,000 mortgage rate match program.
  • Operates nationwide.

Cons

  • Charges application and underwriting fees.
  • Origination charge on a typical conventional loan is 1% of the loan amount.
Read full review
National / Regional

National

Min. Down Payment

3%

Pros

  • A robust suite of loan products.
  • Licensed in all 50 states.
  • Close in as little as 10 days using the Fairway app.

Cons

  • Limited branch locations.
  • Mortgage rates not posted on website.
Read full review
Min. Credit Score

620

Min. Down Payment

3%

Pros

  • Offers an ITIN qualification path for undocumented immigrant borrowers.
  • Has a digital application process.
  • Offers several mortgage options for low- to moderate-income borrowers.
  • Has a full Spanish-language version of its website and bilingual loan officers.
  • Borrowers can qualify with income from self-employment and other nontraditional sources.

Cons

  • No mortgage rates published online.
  • Doesn't lend in all states.
  • No home equity loans or lines of credit.
Read full review

Summary of Best VA Mortgage Lenders of August 2019

LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Veterans United

Veterans United

at Veterans United

VA mortgage experience overall

620

0%

at Veterans United

Quicken Loans

Quicken Loans

at Quicken Loans

online VA mortgage experience

620

3%

at Quicken Loans

New American Funding

New American Funding

at New American

borrowers with weaker credit

620

3%

at New American

BNC National Bank

BNC National Bank

at BNC National Bank

traditional lending experience

620

3%

at BNC National Bank

NBKC

NBKC

at NBKC Bank

traditional lending experience

620

3%

at NBKC Bank

Veterans First Mortgage

Veterans First Mortgage

customer service

600

0%

Read review
Caliber

Caliber

online VA mortgage experience

620

3%

Read review
Navy Federal

Navy Federal

VA mortgage experience overall

N/A

0%

Read review
Fairway

Fairway

customer service

N/A

3%

Read review
Alterra

Alterra

borrowers with weaker credit

620

3%

Read review
LenderBest For

Minimum Credit Score

Minimum Down PaymentLearn More
Veterans United

Veterans United

at Veterans United

VA mortgage experience overall

620

0%

at Veterans United

Quicken Loans

Quicken Loans

at Quicken Loans

online VA mortgage experience

620

3%

at Quicken Loans

New American Funding

New American Funding

at New American

borrowers with weaker credit

620

3%

at New American

BNC National Bank

BNC National Bank

at BNC National Bank

traditional lending experience

620

3%

at BNC National Bank

NBKC

NBKC

at NBKC Bank

traditional lending experience

620

3%

at NBKC Bank

Veterans First Mortgage

Veterans First Mortgage

customer service

600

0%

Read review
Caliber

Caliber

online VA mortgage experience

620

3%

Read review
Navy Federal

Navy Federal

VA mortgage experience overall

N/A

0%

Read review
Fairway

Fairway

customer service

N/A

3%

Read review
Alterra

Alterra

borrowers with weaker credit

620

3%

Read review

Methodology

NerdWallet's selection of mortgage lenders for inclusion here was made based on our evaluation of the products and services that lenders offer to consumers who are actively shopping for the best mortgage. The six key areas we evaluated include the loan types and loan products offered, online capabilities, online mortgage rate information, customer service and the number of complaints filed with the Consumer Financial Protection Bureau as a percentage of loans issued. We also awarded lenders up to one bonus star for a unique program or borrower focus that set them apart from other lenders. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best VA Mortgage Lenders of August 2019