7 Best VA Lenders For Veterans To Buy A Home

VA loans are specifically designed to make it easier for veterans to buy homes with ease. But with so many lenders out there, it can be hard to know where to start. That’s why we’ve put together a list of the seven best VA lenders for veterans to buy a home. 

From a variety of options to low-interest rates and low down payments, these lenders are reliable and accommodating when it comes to helping veterans achieve their dream of homeownership. Whether you’re a first-time homebuyer or looking to refinance an existing mortgage, this list has got you covered. So, without further ado, let’s dive into the top VA lenders for veterans. 

1. Navy Federal Credit Union 

Why We Like It: Navy Federal Credit Union is a great option for veterans because they offer low rates and flexible loan terms. They also have a wide variety of loan types available, including fixed-rate and adjustable-rate mortgages. Plus, they have a dedicated team of loan officers who specialize in VA loans. 

Who Should Get It: If you’re looking for a lender with a lot of experience working with veterans, then Navy Federal Credit Union is a great choice. They also have a lot of resources available to help you understand the VA loan process. 

• Low rates and flexible loan terms 

• Wide variety of loan types is available 
• Dedicated team of loan officers who specialize in VA loans 

Pros: 

• Great customer service 
• Online application process is easy to use 
• Many resources are available to help veterans understand the VA loan process 

Cons: 

• You must be a member of Navy Federal Credit Union to apply for a loan 
• May have stricter credit requirements than some other lenders 

2. USAA 

Why We Like It: USAA is a great option for veterans because they offer competitive rates and a variety of loan options. Additionally, they have a great deal of expertise working with military personnel and their families. 

Who Should Get It: If you’re looking for a lender that understands the unique challenges that come with military life, then USAA is a great choice. They also have a lot of educational resources available to help you understand the VA loan process. 

• Competitive rates and a variety of loan options are available 
• Experience working with military members and their families 
• A lot of educational resources are available to help veterans understand the VA loan process 

Pros: 

• Great customer service 
• Online application process is easy to use 
• Offers a variety of insurance and financial products 

Cons: 

• You must be a USAA member to apply for a loan 
• May have stricter credit requirements than some other lenders 

3. PenFed Credit Union 

Why We Like It: PenFed Credit Union is a fantastic choice for veterans due to its cheap rates and accommodating loan terms. They also have a lot of experience working with military members and their families. 

Who Should Get It: If you’re looking for a lender with a lot of experience working with military members, then PenFed Credit Union is a great choice. They also have a lot of educational resources available to help you understand the VA loan process. 

• Low rates and flexible loan terms 
• Experience working with military members and their families 
• A lot of educational resources are available to help veterans understand the VA loan process 

Pros: 

• Great customer service 
• Online application process is easy to use 
• Offers a variety of financial products 

Cons: 

• You must be a PenFed Credit Union member to apply for a loan 
• May have stricter credit requirements than some other lenders 

4. Veterans United Home Loans 

Why We Like It: Veterans United Home Loans is a lender that specializes in VA loans. They have a lot of experience working with veterans and their families, and they offer a wide variety of loan options. 

Who Should Get It: If you’re looking for a lender that truly specializes in VA loans, then Veterans United Home Loans is a great choice. They also have a lot of educational resources available to help you understand the VA loan process. 

• Specializes in VA loans 
• Experience working with veterans and their families 
• Offers a wide variety of loan options 

Pros: 

• Great customer service 
• Online application process is easy to use 
• A lot of educational resources available to help veterans understand the VA loan process 

Cons: 

• May have stricter credit requirements than some other lenders 
• Does not offer other types of loans or financial products 

5. Quicken Loans 

Why We Like It: Quicken Loans is a great option for those who are looking for a lender that offers a quick and easy online application process. They also offer a variety of loan options, including VA loans. 

Who Should Get It: If you’re looking for a lender with a quick and easy online application process, then Quicken Loans is a great choice. They also have a lot of educational resources available to help you understand the VA loan process. 

• Quick and easy online application process 
• Offers a variety of loan options, including VA loans 
• A lot of educational resources are available to help veterans understand the VA loan process 

Pros: 

• Great customer service 
• Offers a variety of other types of loans and financial products 
• Online application process is easy to use 

Cons: 

• May have stricter credit requirements than some other lenders 
• Not specifically focused on serving veterans 

6. Bank of America 

Why We Like It: Bank of America is a great option for those who are looking for a lender with a lot of experience and resources available. They offer a variety of loan options, including VA loans. 

Who Should Get It: If you’re looking for a lender with a lot of experience and resources available, then Bank of America is a great choice. They also have a lot of educational resources available to help you understand the VA loan process. 

• Offers a variety of loan options, including VA loans 
• Has a lot of experience and resources available 
• A lot of educational resources are available to help veterans understand the VA loan process 

Pros: 

• Great customer service 
• Offers a variety of other types of loans and financial products 
• Online application process is easy to use 

Cons: 

• May have stricter credit requirements than some other lenders 
• Not specifically focused on serving veterans 

7. Citizens Bank 

Why We Like It: Citizens Bank is a lender with a variety of loan options. They also have a lot of experience working with veterans and their families. 

Who Should Get It: If you’re looking for a lender with a variety of loan options and a lot of experience working with veterans, then Citizens Bank is a great choice. They also have a lot of educational resources available to help you understand the VA loan process. 

• Offers a variety of loan options, including VA loans 
• Experience working with veterans and their families 
• A lot of educational resources are available to help veterans understand the VA loan process 

Pros: 

• Great customer service 
• Offers a variety of other types of loans and financial products 
• Online application process is easy to use 

Cons: 

• May have stricter credit requirements than some other lenders 
• Not specifically focused on serving veterans 

Frequently Asked Questions 

As a veteran, you have access to special home loan programs that can make your home buying experience easier and more affordable. Below are some common questions about VA home loans and the best lenders for veterans. 

1. What is a VA home loan? 

A VA home loan is a mortgage loan guaranteed by the U.S. Department of Veterans Affairs. This loan is available to eligible veterans, active-duty service members, and surviving spouses who want to buy, build, or improve a home. The VA home loan program offers several benefits, including no down payment, no mortgage insurance, and competitive interest rates. 

2. How do I qualify for a VA home loan? 

To qualify for a VA home loan, you must be a veteran, active-duty service member, or surviving spouse who meets certain eligibility criteria. This includes having served at least 90 consecutive days of active service during wartime, 181 days of active service during peacetime, or six years in the National Guard or Reserves. 

You must also have a valid Certificate of Eligibility (COE) from the VA, meet credit and income requirements, and agree to use the home as your primary residence. Working with a reputable VA lender can help you navigate the eligibility requirements and find the best loan option for your needs. 

3. Can I use a VA home loan more than once? 

Yes, you can use a VA home loan more than once. In fact, many veterans use this benefit multiple times throughout their lives. However, you may only have one VA loan at a time, so you will need to pay off your current loan or sell the property before you can use the benefit again. 

Keep in mind that there are also limits on the amount you can borrow with a VA home loan. These limits vary by county and are based on the conforming loan limit set by the Federal Housing Finance Agency. 

4. What are the benefits of using a VA lender? 

Using a VA lender can offer several benefits for veterans buying a home. These lenders specialize in VA home loans and can often offer lower interest rates, flexible qualification requirements, and faster loan processing times than traditional lenders. 

5. How can I find the best VA lender for my needs? 

When searching for the best VA lender for your needs, it’s important to research and compare multiple options. Look for lenders with experience and expertise in VA home loans, as well as a track record of excellent customer service and competitive rates. 

You can also ask for recommendations from other veterans, read online reviews and ratings, and compare loan terms and fees from different lenders. By doing your due diligence and working with a reputable VA lender, you can make the home-buying process smoother and more affordable. 

By working with one of these fast-payoff VA lenders listed above, veterans can take advantage of their unique benefits and secure a home loan that fits their budget and needs. From quick pre-approvals to personalized customer service, these lenders offer a range of services that make the home-buying process smoother and more manageable. 

So, whether you’re a first-time homebuyer or looking to refinance your current mortgage, be sure to explore your options and find a VA lender that’s right for you. With the right lender by your side, you can achieve your dream of homeownership and enjoy the many benefits of owning your own home.