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Veterans United Home Loans Review 2021

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Editor’s note: Parts of this article were reviewed by a lender to ensure accuracy prior to publication. The overall conclusions, recommendations and opinions are the author’s alone. The information in this article is accurate as of the date of publishing.

Veterans United Home Loans specializes in offering loans backed by the U.S. Department of Veterans Affairs (VA), giving military borrowers and families an opportunity to use their VA benefits to become homeowners. Veterans United was founded in 2002 and is headquartered in Columbia, Mo.

Pros and cons of a Veterans United mortgage


  • Specializes in VA loans and working with military borrowers
  • Provides access to special VA loan educational resources
  • Offers military needs-based credit counseling and real estate programs


  • Doesn’t offer VA manufactured home loans
  • Website lacks information about other available loan products
  • Has physical branches in only 18 states
  • Doesn’t offer home equity loan products

Working with Veterans United Home Loans

Veterans United Home Loans is licensed in all 50 states and the District of Columbia, with physical branches in 18 states. In 2019, the company closed more than $12.8 billion in loan volume, and was the largest VA lender in 2018 and 2019, according to the VA. 

Military borrowers working with Veterans United Home Loans can choose from a wide array of VA loan types to buy or refinance a home. Veterans United offers other loan types for borrowers that want to save their VA benefits for their dream home in the future.

Veterans United borrowing requirements

Although VA lending guidelines don’t require a minimum credit score, Veterans United prefers at least a 650 credit score. The company offers manual underwriting for VA borrowers denied by the automated system most lenders use.

Single-family homes and condominiums can be financed with a Veterans United loan, according to the website. The company does not offer mortgages for manufactured homes.

Veterans United mortgage products

Purchase loans

  • VA loans. Eligible military borrowers may buy a home with no down payment and no mortgage insurance, even if they don’t have a strong credit history. Veterans United offers 15-, 20-, 25- and 30-year fixed loan terms.
  • VA jumbo loans. For loan amounts above the conforming loan limit of $510,400 in most areas, a VA jumbo loan gives eligible VA buyers more borrowing power for expensive homes, in some cases, with no down payment.
  • Conventional loans. Veterans United offers conventional financing with a down payment as low as 3%, with fixed-rate terms of 15, 20, 25 and 30 years. The minimum credit score requirement is 660 for conventional loans.
  • FHA loans. Borrowers who don’t have enough entitlement for a VA loan can apply for a loan backed by the Federal Housing Administration (FHA).
  • USDA loans. If your home is located in a rural area, it may be eligible for a zero-down mortgage backed by the U.S. Department of Agriculture (USDA).

Refinance loans

  • VA interest rate reduction refinance loan (IRRRL). Homeowners with a current VA loan can refinance with less paperwork through the VA IRRRL program. No income documentation or appraisal is required in some cases, closing costs can be rolled into the loan and 15-year and 30-year fixed terms are available.
  • VA jumbo IRRRL. Borrowers may replace their current VA jumbo loan with a 30-year, fixed-rate jumbo loan with a lower rate using the IRRRL’s streamlined documentation process.
  • VA cash-out refinance. VA borrowers can tap up to 90% of their home’s value with a cash-out refinance, and use the extra cash for home improvements or to pay off credit card debt. An added bonus: The VA cash-out can be used to pay off a USDA, FHA or conventional mortgage.

Veterans United special mortgage programs

Lighthouse credit building program. This credit education program is offered free of charge to help borrowers identify credit report errors, take steps to improve their finances and, ultimately, boost their credit scores. A Veterans United credit specialist works with applicants, providing progress reports and updates on milestones along the way.

Veterans United Realty. Veterans United Home Loans is affiliated with Veterans United Realty to connect buyers with a local real estate agent who specializes in helping military families through the homebuying and relocation processes. Buyers who bundle a Veterans United mortgage with an affiliated real estate agent’s services may receive a closing cost rebate.

The mortgage application process

  • How to apply. Borrowers can apply online or contact a Veterans United Home Loans representative 24/7.
  • Disclosure process. A loan officer works with you to keep the process moving along; lenders are required by law to provide you with a loan estimate detailing all the costs within three business days of receiving your application.
  • Submitting your loan for approval. Your paperwork and figures are reviewed to ensure you meet the VA’s minimum mortgage requirements for preapproval.
  • Final approval. Once you find a home, in-house loan processors and underwriters review the package and order a VA appraisal to confirm the property meets the VA’s minimum property requirements.
  • Closing. You’ll receive a closing disclosure within three business days before closing so to review all the final figures and closing is scheduled. Borrowers can log on to myVeteransUnited™ to sign and upload documents securely.
  • Servicing. According to the lender’s website, loans may be serviced by Veterans United Home Loans, Mr. Cooper or Cenlar.

Communication during the process

To reach a Veterans United Home Loans representative, call (800) 884-5560 available 24/7, or email [email protected]. Current Veterans United customers can log into their my Veterans United™ account online.


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