This Is My Second Time Using Veterans
This is my second time using Veterans United for a VA home loan and used Stacy Sumpter and her team. I could not have gotten through the home buying process with out their support and caring attitude. I never felt like there was any other person buying a house but my husband and I. All of the details that go into purchasing a home can make you feel overwhelmed and lost, but not with this team of people I always knew what was going on. This will always be my go if I ever purchase a home again.
Date of experience:October 17, 2022
The people made the experience joyful and easy and with their knowledge we were able to accomplish our task! And I would recommend them to everyone!
Date of experience:October 25, 2022
What Mortgage Rates Does Veterans United Home Loans Offer
Mortgage rates change daily based on market conditions and vary significantly depending on the loan type and the length of the term. For instance, fixed rate mortgages will typically have a higher interest rate than mortgages with variable rates, and jumbo loans usually have higher mortgage rates than conforming conventional loans. Find the best interest rate available to you by getting quotes from three or more mortgage lenders before choosing a home loan.
Veterans United offers home loans with APRs starting at 2.6% and up to 8%.
Best Jumbo Loan: Usaa
- Loan Terms: 10, 15, 20, or 30 years
- Minimum Credit Score: Not disclosed
USAA offers personalized service during the jumbo loan process, and you can finance the VA funding fee.
Full service banking and lender
Offers insurance products
No loans more than $3 million
No auto pay discount
USAA offers military members and their families a comprehensive range of financial products and services that are competitively priced. It offers benefits, insurance, advice, banking, investment products, specialized financial resources, and member discounts.
USAA lends nationwide to veteran borrowers seeking a jumbo home loan up to $3 million without needing to pay private mortgage insurance, and wrapping the VA funding fee into the loan.
USAAs VA loan products include a fixed-rate 30-year purchase loan, a jumbo fixed-rate purchase loan, and a VA refinance option: the VA IRRRL. USAA also has non-VA loan options.
To service your loan, USAA offers an autopay process, but there are no discounts for using the program. Customer service is available through online chat, mobile app, and by telephone at 800-531-USAA .
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What Could Be Improved
Access to home equity loans or HELOCs
If you’re looking to borrow money against the equity you have in your current home, Veterans United Home Loans can’t help you. You would need to pursue a cash-out refinance instead.
Access to other loan types
Veterans United Home Loans says that it also offers the conventional loan, FHA loan, USDA loan, and non-VA jumbo loans. But those are offered through a lending partner called Paddio. It’s not possible to get information about non-VA loans on the Veterans United Home Loans website or from Veterans United loan officers. After clicking through the “get a quote” tool, we got a message that said, “Since you indicated that you are not an active or former member of the U.S. Military, we have matched you with a lending partner.” Paddio may be able to meet your needs if you are not eligible for a VA loan through Veterans United.
The Motley Fool Names Veterans United Home Loans Best Mortgage Lender For Va Loans
The winners this year were selected based on perks, competitive interest rates, origination fees, diverse loan products and terms, customer service, and timely approvals according to The Ascent. They tout Veterans United for offering educational resources along with having military advisors from every branch. They also mention the online preapproval process on Veterans Uniteds platform.
More Veterans chose Veterans United to purchase their homes with their VA Home Loan benefit in Fiscal Year 2020 than the next four lender competitors combined, according to VA data. The full-service national lender is based in Missouri and employs about 4,000 people in more than 30 states.
Our employees are dedicated to providing the best possible customer experience to our Veterans and service members, said Nate Long, CEO of Veterans United. From day one, the focus has never been on the volume of loans but on enhancing the life of each individual Veteran and service member we serve. We are committed to that wholeheartedly.
This year, the VA Loan Program had its biggest year yet. For the ninth-consecutive year, VA purchase loans increased year-over-year. Veterans obtained more than 1.2 million VA loans in FY20, obliterating the previous record on a wave of refinance loans.
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Veterans United Home Equity Loans Review
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To that end, you should know that many advertisers pay us a fee if you purchase products after clicking links or calling phone numbers on our website.
The following companies are our partners in Home Equity Loans: Discover, Quicken Loans, New American Funding, Bethpage Federal Credit Union, and AmeriSave Mortgage Corporation.
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Compare To Other Lenders
|NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.||NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.||NerdWallet rating NerdWallet’s ratings are determined by our editorial team. The scoring formula takes into account loan types and loan products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available HMDA data.|
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA, USDA
Loan types and products
Purchase, Refinance, Jumbo, Fixed, Adjustable, FHA, VA
Loan types and products
Purchase, Refinance, Home Equity, Jumbo, Fixed, Adjustable, FHA, VA, USDA
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Regulatory Or Legal Actions
The Consumer Financial Protection Bureau tracks complaints filed against companies in the United States. The CFBP also records the companies responses to customer complaints.
- Since August 2019, the CFPB has received 104 complaints against Veterans United VA loans. Customers’ complaints were related to unexpected increases in their monthly mortgage payments. The complaints were marked as resolved by the CFPB.
Veterans United received three regulatory actions by the National Mortgage Licensing System between 2017 and 2019. The regulatory actions addressed wrongful interest loan charges conducted by Veterans United. The company refunded the excess charges, and all regulatory actions were resolved.
Although we always try to include accurate and up-to-date information on regulatory and legal actions, we dont claim this information is complete or entirely up to date. We recommend you do your own research, as well.
Veterans United Home Loans Gender Distribution
Research Summary. Using a database of 30 million profiles, Zippia estimates demographics and statistics for Veterans United Home Loans. Our estimates are verified against BLS, Census, and current job openings data for accuracy. After extensive research and analysis, Zippia’s data science team found that:
Veterans United Home Loans has 3,176 employees.
51% of Veterans United Home Loans employees are women, while 49% are men.
The most common ethnicity at Veterans United Home Loans is White , followed by Hispanic or Latino and Black or African American .
10% of Veterans United Home Loans employees are Hispanic or Latino.
9% of Veterans United Home Loans employees are Black or African American.
The average employee at Veterans United Home Loans makes $53,274 per year.
Veterans United Home Loans employees are most likely to be members of the democratic party.
On average, employees at Veterans United Home Loans stay with the company for 3.7 years.
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Do Va Loans Vary By Lender
The two main ways a VA loan can vary slightly from lender to lender are the rate and the minimum credit score. The VA does not underwrite the loan it provides a guarantee to the lenders who offer the loan program. The lenders determine the rates they will offer, as well as the other underwriting guidelines they will adhere to, such as your credit history and debt-to-income ratio.
The benefits of a VA loan are the same no matter which lender you choose. The key benefits of the program are no down payment requirement, no PMI requirement, and no prepayment penalties, with a VA funding fee taking the place of the PMI.
This Was My First Home Buying
This was my first home buying experience! I can honestly say that I am greatful I went with veterans united!!! My home buying process was unmatched! I heard so many horror stories about this process and I did not come across any fails or issues!! My team rocks! Thank you Jeremy and Jess!!!
Date of experience:October 24, 2022
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What Is A Va Loan
A VA loan is backed by the government and is open to active and former service members and their surviving spouses in some cases. One can use a VA loan to purchase or build a home, improve and repair a home, or refinance a mortgage. Significant benefits include reduced credit score requirements, no private mortgage insurance, no down payment requirement, and competitive rates.
You can apply for a VA loan more than once, but the funding fee increases when using a VA loan after your first time. The VA funding fee is a one-time charge that you pay when you get a VA-guaranteed mortgage to purchase or refinance your home. In many cases, youll have the option to roll the VA funding fee into your loan. The typical funding fee ranges from 1.4% to 3.60% of the loan amount.
You will need a COE, which you can obtain from the VA website, or your lender can assist you with this. To get this certificate, youll have to produce service-related documentation, which can vary based on whether you are on active duty or a veteran.
How Are Veterans United’s Rates Compared To The National Average
Veterans United’s mortgage rates trend lower than the national average, and on par with other VA lenders. VA loan rates are usually low in general because with government backing, the lender is taking on less risk.
Total loan costs at Veterans United are very low. When we checked, the lowest available rate on a 30-year fixed-rate VA mortgage was available to borrowers who pay 1.25% in mortgage discount points. That is less expensive than the lowest rate from many other lenders.
Should You Get Your Va Loan Through Veterans United Home Loans
Veterans United Home Loans is a highly specialized mortgage lender. If you are an eligible veteran, this company should be on your short list of mortgage lenders.
While its often assumed first-time homebuyers understand the process, its not always true. This is especially the case with recently released service members.
The home buying process can be especially complicated for someone who is coming into the financial world for the first time.
Veterans United Home Loans can make that transition a lot smoother than it otherwise might be.
Its important to understand that while a lot of mortgage lenders do offer VA loans, only a handful specialize in them.
VA loans have an incredible number of nuances, and you should be working with a specialist lender to get the most benefit out of all that VA loans have to offer.
Equal Housing Opportunity. The Department of Veterans Affairs affirmatively administers the VA Home Loan Program by assuring that all Veterans are given an equal opportunity to buy homes with VA assistance. Federal law requires all VA Home Loan Program participants builders, brokers and lenders offering housing for sale with VA financing must comply with Fair Housing Laws and may not discriminate based on the race, color, religion, sex, handicap, familial status, or national origin of the Veteran.
How We Evaluated United Mortgage Lenders
We reviewed Veterans United home loans and their VA loan offerings based on the thorough information and VA loans guide available on their website. We considered this lenders VA loan offerings, access to online prequalification, third-party ratings and additional services.
In addition, we looked at customers reviews on the Veterans United website and the Better Business Bureau to better understand how this lender manages customer service and relations.
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Veterans United Home Loans Realty
Veterans United Home Loans has a referral network of over 5,000 veteran-friendly realtors across the country. Veterans United Home Loans can help veterans find a real estate agent who is very familiar with VA property requirements for more efficient use of time while shopping for a home. Veterans United Home Loans Realty also assists with information about loans outside of the VA program to determine if one of those mortgages may be a better option for the homebuyer.
Best Arm Loan: Lendingtree
- Starting Interest Rate: Contact for rates
- Loan Terms: Contact for terms
- Minimum Credit Score: Contact for credit score requirements
Lending Tree offers multiple types of loans including VA loans with ARMS of varying lengths.
Fill out one application and lenders compete
User-friendly online form
Need to contact for rates and terms
Contact for minimum credit score requirements
LendingTree is an online loan marketplace for mortgages, auto loans, small business loans, personal loans, credit cards, and more. Starting in 1996 with the goal of making comparison shopping for loans easy, it puts the rates online to make banks compete. The company seeks to empower its customers with choice, education, and support through its website services.
Fewer lenders offer the adjustable-rate mortgage product compared to the fixed-rate purchase and refinance loans. Therefore, we chose LendingTree as the best source for finding a competitive ARM loan because you fill out a single application and many lenders will see your application and offer the best terms. The large supply of lenders on LendingTree provides the borrower with more choices to compare.
Regardless of which lender you choose on LendingTree, the loan process for a VA loan will require an eligibility certification evaluation of the borrowers credit, income, and debt situation an appraisal and a home inspection. Plan on four to six weeks for the entire process.
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Usaa United Services Automobile Association
USAA, one of the largest military, financial services companies, offers a broad array of financial products and services at competitive rates to military members and their families. Aside from benefits, insurance, insurance advice, and banking services, they offer specialized financial resources, insurance, and discounts to members.
What Mortgage Programs Are Available
Besides conventional mortgages, Veterans United offers the following mortgage types:
- FHA loans: FHA loans are mortgages insured by the FHA. They offer competitive mortgage rates and have less stringent eligibility requirements. However, borrowers must pay a mortgage insurance premium. For instance, you can apply for an FHA loan with a credit score as low as 580. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
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Veterans United Vs Navy Federal Credit Union Mortgages
USAA normally provides conforming and jumbo mortgages, but at the time of writing this review, the lender has halted these products. It’s only originating VA mortgages right now, but it has plans to reintroduce conforming and jumbo mortgages in the future. So if you want any type of mortgage other than a VA loan, you’ll want to go with Veterans United.
Veterans United is probably the better choice if you have a low or no credit score. It accepts alternative credit data, like utility bills, whereas USAA does not.
I Recommend Veterans United
I’ll just paste from the email I sent to everyone on Closing Day. I think it says it all. “Today was the Big Day! Thank you all for everything you’ve done to make this day possible. I don’t think I could’ve handled everything you did myself. Stacey and I would be in a rubber room for sure. A special thanks to Renae Warren from EXP Realty, our wonderful realtor who was great to work with, is very understanding, helpful, and sure knows her business. And thank you to the great ladies at Meridian Title Company. They treated us quite nicely. Most of all I thank God for blessing me with this opportunity. Mark and Stacey H.
Date of experience:October 19, 2022
The process was so easy as a 19 year old first time home owner! Will Spann was so helpful throughout the entire process!
Date of experience:October 28, 2022
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