9 Best VA Mortgage Lenders for Streamline Refinance (IRRRL) of 2022

Why we like it

Pros

• Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

• Estimates the loan amount you’ll qualify for within minutes.

• Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

• Getting a customized interest rate requires a credit check, which can affect your credit score.

• Doesn't offer home equity loans or lines of credit.

• Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

Why we like it

Pros

• Uses manual underwriting to evaluate creditworthiness, in some cases.

• Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

• Mortgage origination fees tend to be on the high end, according to the latest federal data.

Why we like it

Pros

• Offers 24/7 customer service over the phone.

• Has online application and prequalification.

• Offers a free credit counseling service.

• Employs advisors from each branch of the armed forces.

Cons

• Doesn't offer home equity loans or HELOCs.

• Veterans United has physical branch offices in only 17 states.

• Information on FHA, USDA and conventional loans is harder to find on its website.

Why we like it

Pros

• Offers the ability to securely upload and digitally sign loan documents.

• Displays detailed sample rates for many of its refinance loan products.

Cons

• Charges some fees, such as a lender fee which includes an application fee.

Why we like it

Pros

• Offers a robust suite of loan products, including a variety of renovation loans.

• Has a digital application that can be completed in 10 minutes.

• Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

• Mortgage rates aren't posted online.

• Origination fees are on the high side and are not offset by low rates, according to the latest data.

Why we like it

Pros

• Specializes in VA loans and working with military borrowers.

• Offers several low-down-payment government loan options.

Cons

• You can't shop rates online.

• Doesn't offer conventional home loans or renovation mortgages.

Why we like it

Pros

• Offers a wide variety of loan options, including low-down-payment mortgages and jumbo mortgages.

• Offers low rates and typical fees compared to other lenders, according to the latest data.

Cons

• Requires help from a loan officer to complete an online mortgage application.

• Customized mortgage rates not available without making contact.

Why we like it

Pros

• Offers a wide range of affordable mortgage products designed for military members.

• Has an online application for preapproval.

• Offers low rates compared with most lenders, according to the latest data.

Cons

• 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.

Why we like it

Pros

• Offers an ITIN qualification path for borrowers ineligible for Social Security numbers.

• Has a digital application process.

• Offers several mortgage options for low- to moderate-income borrowers.

• Borrowers can qualify with income from self-employment and other nontraditional sources.

Cons

• No mortgage rates published online.

• No home equity loans or lines of credit.

• Generally has higher rates and fees than other lenders.

• Branch offices not available in all states.