Does “Military-minded Mortgage Maestro” ring a bell? I’m talking about none other than Veterans United, the sort of rainmaker in the mortgage lending industry with a keen focus on, you guessed it—VA loans! And not just any VA loans, but they also offer refinancing options and energy-efficient mortgages. Their heart is in serving those who’ve served us, making this lender a firm favorite amongst veterans and active duty service men and women.
Now, suppose you are a member of these respected ranks looking to invest in four walls and a roof. Well, my friend, the Veterans United Realty Program has you covered. This little genie links you to trusted local real estate agents, rolling out the red carpet for your home-buying process. And it gets better; if your credit score is looking a little bruised, they’ll even provide a lending hand with a credit-building initiative. Now ain’t that a calm in the middle of a storm?
Honestly, from securing preapproval to submitting VA loan applications, Veterans United’s website is as easy as ABC. And that’s not all—their comprehensive educational resource center is as informative as the leather-bound encyclopedia in your granddad’s study.
Hmmm, now where does one even start with this topic? Let’s make life a little easier with a handy Table of Contents:
– Veterans United Services
– Veterans United Credentials
– Veterans United Accessibility
– Veterans United Customer Satisfaction
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### Chewing the Fat with Veterans United Mortgage Lenders
What’s the lowdown on the pros and cons of Veterans United, I hear you ask?
**Thumbs-Up Moments**
– Dishes out four appetizing types of VA loans
– Skips the down payment—yup, you heard it
– Competitive low-interest rates to sweeten the deal
– Online credit counseling for those with a credit score that’s seen better days
– Provides a matchmaking service between buyers and real estate agents via Veterans United Realty
**Not-So-Sunny Sides**
– Doesn’t offer home equity loans or home equity lines of credit (HELOCs).
– Only has brick-and-mortar branches in 18 states—somewhat disappointing for those who like the face-to-face experience, don’t you think?
From humble beginnings in 2002, Veterans United has climbed the metaphorical ladder, securing a place at the top for military personnel, reservists, veterans, and their families in need of homey havens. These guys are the gung ho in the lending world, with licenses in all 50 states, including the District of Columbia, and branches in 18 states from coast to coast.
Applying for loans with them is a walk in the park—first up, a no-impact soft credit check (easy peasy), followed by the full mortgage application online (still easy peasy). And guess what, their experienced loan specialists are available and ready to help around the clock, like personal fairy godmothers just waiting for your wish.
Now, let’s talk standout features—Veterans United provides credit counseling to those poor souls initially denied mortgage preapproval due to credit issues. Armed with this fairy godmother, borrowers have a chance to flip the script on their financial narratives.
Next up, the Veterans United Realty platform. This worthy mention offers a string of ready-to-roll real estate agents for veterans and military families on the hunt for residential bliss. Not to mention, buyers who play the game with a participating agent are eligible for lender credits. These can be pocketed for closing costs or reduced interest rates—pretty neat, right?
However, it’s important to note that Veterans United’s website does not offer information or preapproval for FHA, USDA, or your run-of-the-mill conventional mortgage products. Their offerings are all stars and stripes—purely dedicated to VA home loans.
Remember this dear reader: Every silver lining has a cloud, and in this case, it’s the Veterans United website’s notable omissions for FHA, USDA, or conventional mortgage products. Stick around for the VA home loans, but for the rest, you might need to cast your net a bit wider.
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### Veterans United Services
Did I mention they’re ace at online prequalifications and application processes, detailed VA loans guides, and resources for clients who are trying to glue their credit back together? Stick around for more about this.
#### HOW TO QUALIFY FOR A LOAN WITH VETERANS UNITED
**Minimum Credit Score**
Oh, your credit score. It must be at least 620 to be in with a shot for a VA loan with these guys.
**Debt-to-Income Ratio**
Who doesn’t love a good abbreviation, right? Let’s say hello to DTI. At Veterans United, they determine VA loan eligibility using good ol’ DTI as well as residual income benchmarks. The latter being the money you have left after paying bills and feeding the dog.
**Down Payment Requirements**
No need to raid your piggy bank—Veterans United offers no mandatory down payment for VA loans, provided the sales price of the casa doesn’t make the appraised value green with envy.
**Required Documentation**
A fair amount of doc prep is required to get your ducks in a row—government-issued ID, recent pay stubs, tax returns, W-2 forms, and a Certificate of Eligibility (COE). Veterans, you’ll need your DD-214, Statement of Service, or Points Statement too. Depending on your personal situation, you may also need to gather VA disability award letters, Social Security award letters, divorce decrees, or bankruptcy discharge letters.
**Costs and Fees**
The party’s over. Time for the check. Applicants must foot the bill for a flat origination, processing, and underwriting fee (equating to about 1% of the mortgage amount), an appraisal fee, and closing costs.
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Now, we can’t forget the VA Funding Fee. This one-time fee falls between 0.5% and 3.6% of the loan balance. And it’s mandatory—unless you’re amongst the chosen ones like those receiving VA compensation for service-connected disabilities, eligible individuals based on pre-discharge review, surviving spouses worthy of qualifying, or Purple Heart recipients.
And last but not least, expect to shell out for regular VA loan closing costs like an origination fee (up to 1%), a state-dependent appraisal fee, title insurance (0.5%-1%), credit report fees (capped at $50 in keeping with VA guidelines), optional discount points (for those lower interest rates), recording fees, and escrow costs.
Here’s the good news: you’re off the hook for PMI (private mortgage insurance). Unlike many loan types, VA mortgages give this guy a miss.
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#### What’s on the Veterans United Menu?
**Mortgage Options**
Veterans United has four tantalizing options on the menu:
– **VA Purchase Loan**: Pick up a new or resale home with no down payment, whether it’s a single-family, condo, manufactured, or multi-unit property.
– **VA IRRRL (Interest Rate Reduction Refinance Loan)**: Streamline your mortgage refinance process with discounted fees and minimal documentation.
– **VA Cash-Out Refinance**: Got equity in your home? Turn it into spending money.
– **VA Energy Efficient Mortgage**: For those looking to greenify their homes, this option lets you finance those energy-saving improvements.
**Loan Terms**
– Have it your way with 15 or 30-year fixed VA loans.
**Loan Limits**
– With full entitlement, va-va-voom, no VA-imposed loan cap for you. For those with partial entitlement, 2023 caps are set at $726,200 for most counties and up to $1,089,300 in high-cost areas.
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#### What’s NOT on the Veterans United Menu?
The Veterans United does not provide three things in their menu:
– Home equity loans or HELOCs
– VA Jumbo loans
– USDA loans
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### Veterans United Credentials
Oh, they’ve got the goods, alright. Fully licensed across the nation, accolades aplenty, and rankings that’d make your eyes pop, this is one lender who knows its onions.
**Licenses & Registrations**
– Veterans United is fully licensed to provide mortgage loans across all 50 states and Washington, D.C.
**Awards & Certifications**
– The Department of Veterans Affairs named Veterans United as the #1 VA home purchase lender for six consecutive years (2016–2021).
– Recognized by Glassdoor as a Best Place to Work and ranked #33 on Forbes’ 100 Best Companies to Work For in 2021.
**Third-Party Ratings**
– In the 2021 mortgage origination satisfaction survey, J.D. Power ranked Veterans United second highest, no mean feat even though they missed a few boxes for full inclusion.
**Regulatory Actions**
– From 2017 to 2019, a few regulatory missteps occurred regarding incorrect interest charges, but all were immediately rebounded by Veterans United.
– The Consumer Financial Protection Bureau (CFPB) received 104 complaints mainly about unexpected mortgage payment increases since August 2019—still, all were resolved.
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### Getting Through to Veterans United
Veterans United’s accessibility is like a Swiss Army knife—multi-functional with online mortgage services, physical branches, and 24/7 phone support—ready to help at any time.
**Availability**
Despite being licensed nationwide, the company has physical offices in just 17 states.
**Contact Information**
– Assistance online: [www.veteransunited.com/help/](http://www.veteransunited.com/help/)
– Phone support 24/7: 1-800-884-5560
– Mailing address:
Veterans United Home Loans
Attn: Client Advocate
1400 Veterans United Dr.
Columbia, MO 65203
**User Experience**
Getting preapproved online is as simple as pie through a soft credit check. The Veterans United website is a goldmine—VA loan guide, eligibility requirements, and tailored calculators for mortgage, affordability, loan limits, and funding fees all at your fingertips.
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### Veterans United Customer Satisfaction
With a reputation bigger than their branches, Veterans United has taken the lending world by storm.
**Customer Reviews**
– Over 324,000 glowing reviews on the Veterans United website, with a whopping 98% recommendation rate.
– The BBB listing boasts over 2,100 reviews with a satisfaction score of 4.82 out of 5.
– A few voiced concerns about a rushed escrow process and unauthorized credit checks.
**Third-Party Ratings**
– Over at Trustpilot, Veterans United garnered an impressive 4.9 out of 5 stars, based on more than 9,000 independent reviews.
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### Veterans United FAQ
Need a few quick answers? Here’s the dirt on some of your monitoring questions:
**Is Veterans United a Lender?**
You bet. Veterans United is a direct VA mortgage lender and one of the largest in the country.
**Does Veterans United Offer Lender Credits?**
Absolutely! Veterans United allows borrowers to buy lender points or credits to shave off closing costs.
**What Is the Current Veterans United Mortgage Rate?**
VA loan rates bob up and down with the market. But generally, Veterans United’s VA loan APR ranges from around 5.2% to 5.9%.
**Does Veterans United Charge an Origination Fee?**
They sure do. The origination fee is up to 1% of the loan amount, and it covers processing and underwriting.
**Does Veterans United Use Automated Underwriting?**
Yes indeed. Veterans United uses automated underwriting systems to determine eligibility based on income and credit data.
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### How We Reviewed Veterans United Mortgage Lenders
We left no stone unturned when evaluating Veterans United Home Loans. By systematically analyzing their official resources, comprehensive VA loan product guides, online prequalification process, third-party review ratings, customer testimonials, and sifting through both independent reviews and Veterans United’s own assessment, we were thorough to say the least.
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### It’s a Wrap
As far as the mortgage lending game goes, Veterans United stands tall. They’ve dominated the VA home loan arena from 2016 to 2021, and don’t show any signs of relenting. With an array of VA loan products, easy-peasy online preapproval, connections with top-notch real estate agents, and an overflowing fountain of knowledge, this lender rocks the rift for veterans and their families.
Plus, round-the-clock loan specialists, competitive hallmarks, and programs that pull up stakes on credit-building, its services are enough to make any veteran stand at attention. Whether you’re looking to purchase or refinance your homestead using a VA loan, Veterans United gets our salute.