Last Updated: 04/18/2025
Veterans United Mortgage Refinance
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Last Updated: 04/18/2025
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Highlights
Credit Score Range
N/A
Amount Range
Up to $1,500,000
Loan Term (Years)
15 - 30
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Veterans United Mortgage Refinance Review
Veterans United Mortgage Refinance is offered by Veterans United Home Loans (NMLS #1907), a direct lender founded in 2002 and based in Columbia, MO. Veterans United are available in 50 states and Washington, DC.
Key Takeaways
- 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.
- Wide selection of mortgage programs offered. Veterans United Mortgage Refinance refinances 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 Mortgage Refinance only offers hybrid mortgages.
- Considers personal use and investment properties. Refinancing available for primary residences, secondary homes (e.g. vacation properties), and even investment homes such as rentals.
Veterans United Mortgage Refinance Pros & Cons
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Veterans United Mortgage Refinance FAQ
What is the maximum loan term for a mortgage refinance via Veterans United?
The term of a mortgage refinance will impact the cost of your monthly payments. Longer terms will typically reduce your monthly payments but it will also increase the interest you pay. Veterans United Mortgage Refinance offers mortgage refinancing with terms ranging from 15 to 30 years.
How long does Veterans United take to refinance?
Veterans United does not provide details on the average time to close a refinance. However, it typically takes 30 to 45 days to complete a refinance. Of course, a lot depends on the market, the lender, and how long appraisals and inspections take.Does Veterans United charge a mortgage origination fee?
Yes, Veterans United Mortgage Refinance will charge a loan origination fee of 1% of the loan amount .
Does Veterans United charge prepayment fees?
No, Veterans United Mortgage Refinance does not charge prepayment fees. This means you will not have to pay additional fees if you decide to repay the mortgage early.
What mortgage programs does Veterans United offer?
Veterans United Mortgage Refinance offers the following mortgage types:
- Conventional mortgages: This includes any mortgage that is not insured or guaranteed by the federal government.
- FHA: Mortgages insured by the FHA, which usually have less stringent eligibility requirements, but borrowers must pay a mortgage insurance premium. Co-applicants are allowed and you can qualify for a down payment as low as 3%.
- USDA: A zero down payment mortgage loan with low rates for suburban and rural homebuyers.
- VA: 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.
What property usage types does Veterans United allow?
Some mortgage lenders restrict the type of usage borrowers give mortgaged properties. Veterans United Mortgage Refinance allows the following property usage types:
- Primary home
- Secondary homes and vacation properties
Veterans United Mortgage Refinance 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.
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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
Message from our editor
What We Love About Veterans United Home Loans
Veterans United Home Loans cares about military members and their families and strives to help them get VA loans so they can become homeowners. If they don’t qualify for a loan, there’s a free credit program, the Lighthouse Program, available to them to help them eventually get approval. The employees are VA loan experts and provide excellent customer service.
The standards for qualifying for the loan are flexible. You don’t need to have a down payment, the closing costs are low, and there aren’t any prepayment penalties. There is also no requirement for private mortgage insurance.
What Veterans United Home Loans Could Do Better
While there are many benefits from Veterans United Home Loans, there are a few minor quibbles. There are currently only locations in less than half of the states in the US. You may also find that the interest rates are not as low as some of its competitors. Additionally, there are not home equity credit line or loan products through the company.
Veterans United Home Loans Backstory
Veterans United Home Loans was founded in 2002 in Columbus, MO. It began as a small company with only four employees, but the goal of providing VA home loans was always the core of the business. Within just six years, it surpassed more than a billion in financing and became a nationwide lender. It’s currently available in more than 20 states and is the country’s top VA home purchase lender.
The Verdict
Will Veterans United Home Loans be a good solution for you? If you’re a military member, a veteran, or a qualifying spouse in need of a home loan, it could be a good solution to consider. You can check to see if you qualify for the loan and even get help getting your credit in order if you don’t. The guidance that the employees can provide help to make it a good option for veterans and military members. It’s a friendly company that cares about its clients and should be high on your list of potential lenders.