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Veterans United Home Loans Mortgage

in Home Purchase Mortgages from Veterans United Home Loans · NMLS ID #1907

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Veterans United Home Loans Mortgage

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in Home Purchase Mortgages from Veterans United Home Loans · NMLS ID #1907

SuperMoney Net Recommendation Score +86

SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +86, equating to 4.7 on a 5 point rating scale.

+86

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

Strongly recommended

19 users recommend
1 user is unsure
1 user doesn't recommend
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Highlights
Community Rating Strongly recommended
Loan Amount Up to $1,500,000
Loan Term (Years) 15 - 30 years
Number of Reviews 21

Veterans United Home Loans Mortgage Review

Veterans United Home Loans Mortgage is offered by Veterans United Home Loans (NMLS #1907), a direct lender founded in 2002 and based in Columbia, MO. Veterans United Home Loans Mortgage is available in 50 states (and Washington, DC).

Key Takeaways
  • 3 different mortgage programs offered. Veterans United Home Loans Mortgage offers FHA, USDA, VA, conforming, and conventional mortgages.
  • Specializes in multi-family properties. Only offers mortgages for multi-family properties, but not for single-family homes or manufactured homes.
  • Non-standard interest rates available. Veterans United Home Loans Mortgage only offers hybrid mortgages.
  • Considers personal use and investment properties. Financing available for primary homes, vacation homes, and even investment homes, such as rental properties.
  • Origination fee of 1%. This is on the low end for lenders that charge an origination fee. However, some lenders don't charge an origination fee.
  • Fair credit accepted. Borrowers with a credit score as low as 620 may qualify for Veterans United Home Loans Mortgage.
Veterans United Home Loans Mortgage Pros & Cons
Pros Cons
  • $0 prepayment fee.
  • Considers applicants with fair credit.
  • Available in all 50 states.
  • Charges an origination fee of up to 1% of the loan amount.
Veterans United FAQ

How much can you borrow via Veterans United Home Loans?

Veterans United allows borrowers to apply for loan amounts of up to $1,500,000. Note that the maximum loan amount you can borrow will also vary depending on the type of mortgage you choose, regardless of the lender you choose.

What is the maximum loan term you can get with Veterans United?

Veterans United offers mortgages with terms ranging from 15 to 30 years. Having the option of longer terms allows borrowers to take on larger loan amounts while keeping monthly payments more affordable. However, the longer the term of your loan, the more interest you will pay.

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%.

Does Veterans United charge an application fee?

Do they charge mortgage origination fees?

Yes, Veterans United may charge a loan origination fee of 1% of the loan amount.

Do they charge prepayment fees?

No, there are prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.

What mortgage programs are available?

Veterans United offers the following mortgage types:

  • Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
  • 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%.
  • USDA loans: A zero down payment mortgage loan with low mortgage rates for suburban and rural homebuyers. The USDA doesn't require a minimum credit score, but most mortgage lenders require a minimum credit score of 640.
  • VA loans: A zero down payment mortgage or a refinance of up to 120% of the home's value for American military members, veterans, and their spouses. VA loans offer competitive mortgage rates, and don't have a minimum credit score. However, the mortgage lenders that offer them will typically require a credit score of at least 640.

What property usage types does Veterans United allow?

Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Veterans United allows the following property usage types: 

  • Primary home
  • Secondary homes and vacation properties
  • Investment properties and house flipping projects

How do people rate the customer service and user experience?

Overall, this business credit card is strongly recommended based on community reviews that rate customer service and user experience.

Veterans United Home Loans Mortgage Disclosure: A VA approved lender; Mortgage Research Center, LLC – NMLS #1907 (www.nmlsconsumeraccess.org). Not affiliated with the Dept. of Veterans Affairs or any government agency. An Equal Opportunity Lender.
SuperMoney Disclosure: SuperMoney.com is an independent, advertising-supported service. The owner of this website may be compensated in exchange for featured placement of certain sponsored products and services, or your clicking on links posted on this website. Read more...
Editorial Disclaimer: Editorial and user-generated content on this page is not provided or commissioned by the issuer. Opinions expressed here are the author’s alone and have not been approved or otherwise endorsed by any financial institution, including those that are advertising partners.

Message From Veterans United Home Loans

Veterans United Home Loans specializes in VA loans to help Veterans get the most out of their hard-earned VA home benefit. We are the industry experts at delivering a completely online, yet personal, VA loan experience. More Veterans chose Veterans United Home Loans in 2019 than any other VA Lender. In fact, more Veterans purchased their homes with us in 2016, 2017, 2018 and 2019 than any other lender.   Since 2002, we’ve helped over 300,000 Veterans and military families (and counting!) because the reusable VA home benefit is a veteran’s untapped superpower and our expertise. Because you served, you’re not like every other homebuyer. You deserve to find and buy a new home with VA experts who understand your lifestyle and the VA lingo. You deserve a little more ease, like not stressing over saving for a down payment (since VA loans are $0 down!). Our Loan Team at Veterans United is committed to your homebuying experience. Our dedication is why you can trust the Nation’s #1 VA Purchase Lender the first time you use it and every purchase or refinance after that.

Contact

  • Headquarters
  •   1400 Veterans United Drive
    Columbia, MO 65203
  •   Visit Site

Other Services by Veterans United Home Loans

Availability

  Available in 50 states and Washington, D.C.
  • Alaska
  • Alabama
  • Arkansas
  • Arizona
  • California
  • Colorado
  • Connecticut
  • Washington, DC
  • Delaware
  • Florida
  • Georgia
  • Hawaii
  • Iowa
  • Idaho
  • Illinois
  • Indiana
  • Kansas
  • Kentucky
  • Louisiana
  • Massachusetts
  • Maryland
  • Maine
  • Michigan
  • Minnesota
  • Missouri
  • Mississippi
  • Montana
  • North Carolina
  • North Dakota
  • Nebraska
  • New Hampshire
  • New Jersey
  • New Mexico
  • Nevada
  • New York
  • Ohio
  • Oklahoma
  • Oregon
  • Pennsylvania
  • Rhode Island
  • South Carolina
  • South Dakota
  • Tennessee
  • Texas
  • Utah
  • Virginia
  • Vermont
  • Washington
  • Wisconsin
  • West Virginia
  • Wyoming

Feature Breakdown

No Prepayment Fee
Origination Fee (%) 1%
Credit Score Range 620 - 850
Employment Statuses Considered
  • Employed Full-Time
  • Employed Part-Time
  • Retired
  • Self-Employed
  • Unemployed
Intended Use
  • Investment
  • Primary Home
  • Secondary Home
Verification Documents Required
  • Recent Pay Stubs
  • Proof of Income
  • Proof of Identity
  • Driver License (or other photo ID)
  • Proof of citizenship/residence (Green Card)
APR 2.6% - 8%
Loan Amount Up to $1,500,000
Loan Term 15 - 30 years
Interest Rate Types Offered Hybrid Mortgage
Mortgage Programs
  • FHA
  • USDA
  • VA
Terms 15, 20, 25 and 30 years

Veterans United Home Loans Mortgage Community Reviews

 

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SUPERMONEY NET RECOMMENDATION SCORE

This product is strongly recommended by SuperMoney users with a score of +86, equating to 4.7 on a 5 point rating scale.

+86

Recommendation score measures the loyalty between a provider and a consumer. It's at +100 if everybody recommends the provider, and at -100 when no one recommends.

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