Veterans United Mortgage Review 2024
Ratings and reviews are from real consumers who have used the lending partner’s services.
Ratings and reviews are from real consumers who have used the lending partner’s services.
580 to 640
0% to 3.5%
Conventional, FHA, VA, USDA, jumbo
See how we reached our verdict below.
- Specializes in VA loans
- Lots of online tools and an app for aspiring homebuyers
- 24/7 customer service over the phone
- Not much information online about the other types of loans it offers
- Doesn’t offer home equity loans or HELOCs
- Limited number of branches in only 17 states
Veterans United mortgage overview
Veterans United was founded in 2002 and is headquartered in Columbia, Missouri.
- Areas of service: All 50 states and the District of Columbia
- Digital service: Mostly online, with branches in 17 states
- Headquarters: 1400 Forum Blvd, Suite 18, Columbia, MO 65203
- Website: VeteransUnited.com
Veterans United rates, terms and fees
Rates
Veterans United publishes today’s rates for all kinds of VA loans online. However, rates aren’t available for the other types of loans it offers, like FHA loans.
Compared to other large national mortgage lenders, Veterans United’s rates are competitive and, on average, came in around 0.15 percentage points above the average prime offer rate (APOR) in 2023. The APOR is a benchmark rate that captures what is, in effect, the lowest APR a bank is likely to offer in the current market.
Fees
The average total cost of taking out a mortgage with Veterans United was $6,777 in 2023, according to data from the Federal Financial Institutions Examination Council (FFIEC). That amount includes origination fees, application and appraisal fees, and other closing costs — and is lower than the average for other large national mortgage lenders ($7,304).
The VA allows Veterans United and other VA loan lenders to charge an origination fee of up to 1% of the loan amount. All VA loan homebuyers must also pay a VA funding fee, which goes to the Department of Veterans Affairs.
The average origination fee charged by Veterans United in 2023 was $2.027, according to the Home Mortgage Disclosure Act (HMDA). That’s lower than the average for other large national mortgage lenders, which was $3,613.
The VA funding fee varies depending on the branch you served, whether or not you’re making a down payment, and whether or not it’s your first time using a VA loan. According to Veterans United, most first-time VA buyers with no down payment pay a VA funding fee of 2.15% of the loan amount. Buyers who receive VA disability compensation are exempt from paying the VA funding fee.
What discounts does Veterans United offer?
Veterans United’s “Buy, Sell & Save” program offers a discount when you buy and sell with a Veterans United Realty agent and finance with a Veterans United home loan. If you qualify, you’ll receive a lender credit equal to 100 basis points of the loan amount. You can apply this credit to your rate, closing costs, or a combination of the two. Those 100 basis points work out to approximately one-half of a percentage point. So, for example, if your quoted loan rate was 6.5%, your discounted rate would be 6.0%.
What types of mortgage loans does Veterans United offer?
Veterans United offers a variety of home loans including:
Conventional loans
Veterans United offers conventional loans. Since this lender focuses on VA loans, it doesn’t include many details about its conventional loan program on the website. However, conventional loans can have fixed or variable interest rates.
Conventional loan qualification requirements
- 3% minimum down payment
- You must pay private mortgage insurance (PMI) if your down payment is less than 20%
- 640 minimum credit score
- 45% maximum debt-to-income (DTI) ratio
FHA loans
Veterans United offers loans backed by the Federal Housing Administration (FHA), including purchase, refinance, and cash-out refinance loans. FHA loans may have fixed or variable rates.
FHA loan qualification requirements
- 3.5% minimum down payment
- Upfront and monthly mortgage insurance required
- 580 minimum credit score (500 with a down payment of 10%)
- 43% maximum DTI ratio
VA loans
Veterans United specializes in VA loans. The company also offers refinance loans, including VA cash-out refinances and interest rate reduction refinance loans (IRRRLs).
VA loan qualification requirements
- Available to eligible active-duty military, National Guard and Reserve members, certain surviving spouses, and veterans
- No down payment required for borrowers with full VA loan entitlement
- No PMI required
- No minimum credit score set by VA loan requirements, but Veterans United requires at least a 620 credit score
USDA loans
For borrowers in rural areas, Veterans United carries loans backed by the U.S. Department of Agriculture (USDA).
USDA loan qualification requirements
- 0% down payment options available
- Flexible credit score requirements
- The house must be in a designated rural area. Check if your location qualifies using the USDA eligibility map
- USDA loan requirements include an income cap that ensures these loans go to low- and moderate-income borrowers only
Jumbo loans
Veterans United offers VA jumbo loans. While Veterans United doesn’t share many details about its jumbo loan program online, these loans exceed the maximum loan limits in place with most other loan programs. Because they’re such large loans, they’re riskier to lenders. To limit their risk, jumbo loan lenders usually have stricter eligibility criteria.
Jumbo loan qualification requirements
- Same service requirements as regular VA loans
- 620 minimum credit score
Veterans United mortgage qualifications
| Credit score minimum | Conventional: 620 FHA: 500 VA: Not disclosed USDA: Not disclosed |
| DTI ratio Debt-to-income (DTI) ratio compares your monthly gross income to your monthly debt payments. maximum | Conventional: 45% FHA: 43% VA: 41% USDA: 41% |
| Down payment minimum | Conventional: 3% FHA: 3.5% VA: 0% USDA: 0% |
Don’t know your credit score? Get your free score on LendingTree Spring today.
How to boost your loan approval odds
Veterans United doesn’t disclose the exact minimum requirements it uses to approve or deny your application. However, based on nationwide data from 2023, we can say that Veterans United approved customers who, on average, had a 73% loan-to-value (LTV) ratio or better. Most had a DTI ratio below 40%.
That same year, Veterans United denied nearly 23% of its mortgage applications. That’s near the middle of the back compared to other large, high-volume lenders. For comparison, many large lenders have denial rates in the low teens up through the mid-thirties.
How to apply for a Veterans United mortgage
1. Choose your loan type
Navigate to VeteransUnited.com and click on the yellow “Check Your Eligibility” button.
2. Get prequalified
Prequalification allows you to provide some preliminary information and allow a loan officer to pull your credit scores and get a ballpark estimate of your income. This lets you see the mortgage rate and loan amount you’ll likely qualify for.
3. Submit a loan application
Completing a loan application will get you preapproved rather than just prequalified. Preapproval from Veterans United doesn’t lock in your rate or guarantee that you’ll get a mortgage, but you’ll get a preapproval letter, which real estate agents will want to see before showing you homes.
Documents you’ll need for prequalification or preapproval
- Identification
- Tax documents
- Bank statement
- Pay stubs
- Debt and asset statements
- Gift letters (if you’re using gifted funds)
Find out more about how to apply for a home loan.Is it safe to get prequalified with Veterans United?
Yes, it’s safe to get prequalified or preapproved with Veterans United. Although it involves a hard pull on your credit, it’s a necessary step and any effects on your credit score are temporary.
It’s always a good idea to get preapproved before you start shopping for homes because some realtors won’t show you homes and many sellers won’t take your offer seriously until you do.
Veterans United’s customer service experience
You can contact Veterans United 24 hours per day, seven days per week.
- Email: [email protected]
- Phone: 800-884-5560
How does Veterans United compare to other lenders?
|  |  |
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|---|---|---|---|
| LendingTree’s rating | |||
| Minimum credit score | 580 to 640 | Mid 600s | Not disclosed |
| Minimum down payment | 0% to 3.5% | 0% to 3.5% | 0% to 5% |
| Rate spread Rate spread is the difference between the average prime offer rate (APOR) — the lowest APR a bank is likely to offer any private customer — and the average annual percentage rate (APR) the lender offered to mortgage customers in 2023. The higher the number, the more expensive the loan. | 0.15% | 0.36% | 1.11% |
| Loan products and programs |
|
|
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| Better for: | Active-duty military members, National Guard and Reserve members, surviving spouses and veterans. | Military borrowers who want an experienced VA loan lender. | Military borrowers and their families. |
Veterans United vs. Veterans First
Both Veterans United and Veterans First specialize in VA loans. Veterans United receives a higher rating from us because it publishes rates online and offers an online application process, while Veterans First doesn’t disclose rates or offer an online application.
→ Read more in our full Veterans First mortgage review.
Veterans United vs. Navy Federal
Navy Federal also specializes in serving military members and their families. The credit union offers some loan products that Veterans United doesn’t, including home equity loans and lines of credit. However, they don’t offer USDA loans or FHA loans. Navy Federal also tends to have higher rates than Veterans United loans.
→ Read more in our full Navy Federal mortgage review.
Ready to compare lender offers on LendingTree? Get Your Rates TodayHow LendingTree rated Veterans United
LendingTree’s mortgage lender rating is based on a five-point scoring system that factors in several features, including digital application processes, available loan products and the accessibility of product and lending information.
LendingTree’s editorial team calculates each rating based on a review of information available on the lender’s website. Lenders receive a half-point on the “offers standard mortgage products” criterion if they offer only two of the three standard loan programs (conventional, FHA and VA). In some cases, additional information was provided by a lender representative.
Veterans United’s scorecard:
Publishes rates online
Offers standard mortgage products
Includes detailed product info online
Shares resources about mortgage lending
Provides an online application
= 0 points = 0.5 points = 1 point
Frequently asked questions
Veterans United offers an online tool where you can start the application process. It also has an app — available on Google Play and in the Apple App Store, where you can track your loan progress and upload and sign documents.
Yes, Veterans United is a legitimate, VA-approved lender with a strong reputation for helping veterans and military families secure home loans. The company is well-regarded for its specialized expertise and 24/7 customer service.
You can view more info about Veterans United’s state licenses and registrations through the Nationwide Multistate Licensing System and Registry (NMLS) website.
Yes, applying for a home loan with Veterans United will result in a credit inquiry, which can slightly impact your credit score. However, this is a standard part of the loan application process.
Veterans United home loans are reliable and beneficial for eligible homeowners, as the company offers competitive rates, zero-down payment options, and personalized service tailored to the needs of veterans and military families.
The lender has a customer rating of 4.9 out of 5 stars on TrustPilot and an A+ rating from the Better Business Bureau.