12 Best VA Mortgage Lenders of January 2022

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 low rates compared with other lenders, according to the latest data.

• Extends full online capabilities, from application to loan tracking.

• Displays customized rates, with fee estimates, without requiring contact information.

Cons

• Equity lines and construction loans are available only in the Kansas City metro area.

• Doesn’t offer renovation loans.

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

• Devotes much of its business to serving military families with VA loans.

• Considers nontraditional income sources, in some cases.

• Offers competitive rates and origination fees.

Cons

• Does not offer home improvement mortgages.

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

Why we like it

Pros

• Wide variety of loan types and products.

• Improved online capabilities, and robust iOS and Android apps.

• Considers alternative credit data, like cell phone payments.

Cons

• Limited number of physical mortgage offices.

• Limited rate information is available without starting an application or speaking with a loan officer.

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

• A mobile app supports the loan process.

• A good selection of loan products, including all government-backed mortgages.

• Offers jumbo loans up to $30 million.

Cons

• Doesn't lend in all states.

• Website doesn’t provide customized mortgage rates.

Why we like it

Pros

• The full loan product selection typical of a bank.

• Its Hero program waives loan origination fees for educators, veterans, firefighters and police.

• Serves 49 states and Washington, D.C., (but not New York).

Cons

• Face-to-face service available only in Arizona, Kansas and Minnesota.

Why we like it

Pros

• Offers a full range of online capabilities, including e-signatures and online loan process tracking.

• Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.

Cons

• Origination fees are on the higher end, according to the latest federal data.

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

Why we like it

Pros

• Offers multiple low-down-payment loan programs.

• May consider alternative credit data, such as bank statements and rent payments.

• You can view customized rates for purchasing a home and apply online.

Cons

• Doesn't offer home equity loans, HELOCs or renovation mortgages.

• Lender fees and mortgage rates are on the high side, according to the latest data.

Why we like it

Pros

• Offers a broad selection of home loan products, including low-down-payment options for first-time home buyers and home buyers of limited means.

• Offers a lender credit, based on loan amount, for purchase mortgages.

• Mortgage rates and fees are low compared to other lenders, according to the latest data.

Cons

• Lender credit isn't available for refinance mortgages.

• Doesn't offer FHA or home improvement loans.