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If you qualify for a VA mortgage, you have the ability to purchase a home very affordably, with no down payment, low rates, and no limits on how much you can borrow. These home loans are available to active military, veterans, and their spouses.
VA mortgages are an all-around great benefit for those who are eligible, but your experience getting one can vary greatly depending on which lender you go with. Individual mortgage lenders will have their own credit requirements, and the best lenders are strong in customer service and have features that make their process more convenient and affordable for borrowers.
The Best VA Mortgage Lenders
Veterans United Home Loans - Product Name Only : Best overallCarrington Mortgage Services - Product Name Only : Best for poor creditFairway Independent Mortgage VA Mortgage - Product Name Only : Best for a smooth closingMovement VA Mortgage - Product Name Only : Best online VA lenderNavy Federal Credit Union Mortgage - Product Name Only : Best for no down paymentRocket Mortgage by Quicken Loans - VA Mortgage - Product Name Only : Best for refinancingUSAA Mortgage - Product Name Only : Best for customer serviceChase VA Mortgage - Product Name Only : Best big bank VA lenderPentagon Federal Credit Union Mortgage - Product Name Only : Best for no lender fees
Keep reading for more information on our top VA mortgage lender picks.
See our guide to the best mortgage lenders overall »
Compare the Best VA Mortgage Lenders
Best VA Mortgage Lenders Frequently Asked Questions
Who is the top lender for VA loans?
In terms of total loan volume and number of loans originated, Veterans United is currently the top VA lender in the country, according to the VA. United Wholesale Mortgage is the second largest VA lender, and Rocket Mortgage is the third largest.
What is the best place to get a VA loan?
The best VA lender is the one that accepts your credit score, offers a low rate, and charges relatively low fees. Once you've narrowed down your options, consider applying for preapproval with your top few choices to compare lenders and find the best deal.
How do I qualify for a VA mortgage?
You'll need to be a veteran or active-duty military member who meets minimum service requirements, which vary depending on when you served. Some surviving spouses may also be eligible. You'll also need to meet your lender's credit requirements.
Can I be denied a VA mortgage?
If you meet all the usual qualifications to get a VA mortgage, there's still a chance your application could be denied. One reason this would happen is if something changed during the application process, like your debt-to-income ratio.
What lender has the lowest VA mortgage rates?
VA mortgage rates tend to be lower than conventional mortgage rates, regardless of where you get your mortgage. Rates do vary by lender, but a lot of that is impacted by your individual finances, so a place that has the lowest rates for one borrower might not offer similarly low rates for another.
VA Mortgage Lender Reviews
Best VA Lender Overall
Veterans United
Veterans United is the largest VA loan lender in the country, generating more than $26 billion in loan volume in 2022, according to the US Department of Veterans Affairs. We think that this lender's experience and expertise makes it a great choice for VA borrowers — particularly those who are new to the process.
What to look out for: It's difficult to find information for non-VA loans on its website, which makes it hard to compare your options
Best VA Lender for Poor Credit
Carrington Mortgage Services
Carrington Mortgage Services is a smart choice for VA loan borrowers with rocky credit histories, since Carrington accepts borrowers with scores as low as 500.
What to look out for: Carrington doesn't lend in Massachusetts or North Dakota. It also doesn't show its rates online.
Carrington has an NR, or "no rating" from the BBB because the lender is in the process of responding to previously closed complaints. Additionally, in November 2022, the Consumer Financial Protection Bureau ordered Carrington to pay $5.25 million in fines for supposedly violating borrowers' CARES Act rights. The CFPB claims that the lender misled borrowers seeking CARES Act forbearance and denied them key protections provided by the pandemic-era law.
Best VA Lender for a Smooth Closing
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation offers a fast and simple application process, and its hybrid closing option lets VA loan borrowers complete most of their closing paperwork ahead of time.
What to look out for: This lender doesn't post its rates online.
Best Online VA Lender
Movement Mortgage
Movement Mortgage boasts a fast process and low fees, making it a solid overall choice for VA borrowers. Credit scores as low as 580 can qualify for a VA loan with Movement.
What to look out for: It doesn't show customized mortgage rates on its website.
Best VA Lender for No Down Payment
Navy Federal Credit Union
Navy Federal Credit Union is a great lender for borrowers who aren't eligible for a VA loan or those who have used up their VA entitlement thanks to its Military Choice and Homebuyers Choice loans, which both allow 0% down payments. Its VA loan options are also strong.
Although Navy Federal's minimum credit score is technically 660, the lender looks at your financial profile as a whole and has some flexibility
What to look out for: The BBB gives Navy Federal an NR (No Rating) because it's currently responding to complaints that were previously closed. You can only become a member of Navy Federal Credit Union if you or your family is affiliated with the military, you are a Department of Defense civilian personnel or contractor, or you live with a Navy Federal member.
Best VA Lender for Refinancing
Rocket Mortgage
Rocket Mortgage is a great choice if you're comfortable applying online and have a good credit score. It ranks high in customer service and offers an easy preapproval process. Rocket Mortgage was the No. 1 origination lender for customer satisfaction in J.D. Power's 2022 study.
What to look out for: Rocket doesn't have any physical locations.
Best VA Lender for Customer Service
USAA
USAA is extremely strong when it comes to customer satisfaction. It earned the highest score in J.D. Power's 2022 customer satisfaction study, though it wasn't ranked because it doesn't meet award criteria.
What to look out for: USAA doesn't let you see personalized interest rates online. It also currently has an NR ("no rating") from the BBB because it's responding to complaints that were previously closed.
Best Big Bank VA Lender
Chase
Chase ranks high in customer service and offers a couple of different closing cost benefits that can help VA borrowers save money. Borrowers can get $2,000 for closing costs with the Chase VA Purchase Closing Cost Benefit, and the Chase Homebuyer Grant offers between $2,500 to $5,000 in assistance for borrowers in eligible areas. Chase also earned the No. 2 spot in J.D. Power's study.
What to look out for: Chase has a great rate customization tool, but VA loan rates aren't included in it
Best VA Lender for No Lender Fees
Pentagon Federal Credit Union
Pentagon Federal Credit Union is an affordable VA loan lender. It charges no lender fees on its VA loans, helping borrowers keep their closing costs down.
What to look out for: You'll need to become a PenFed member to qualify for a mortgage
How to Choose a VA Mortgage Lender
Many lenders offer special benefits to veterans and current service members who get a VA loan with them, so it's a good idea to shop around to find a lender you like. For example, a lender may give you assistance with your closing costs.
Once you've found a few different lenders that suit your needs, get preapproved with at least two or three of them so you can compare rates and fees.
Other VA Mortgage Lenders We Considered
- Wells Fargo: Wells Fargo has undergone several public controversies in the past few years, including scandals surrounding mortgages. It has an F rating from the BBB.
- Guild Mortgage: Guild Mortgage doesn't show any mortgage rates on its website, let alone customizable ones.
- Freedom Mortgage: J.D. Power ranks this lender pretty low in customer satisfaction.
- LoanDepot: LoanDepot is a good VA mortgage lender overall, but it didn't have the standout features of our top picks.
- PNC Bank: PNC ranks below our top picks on the J.D. Power customer satisfaction study.
- Guaranteed Rate: This lender falls below our top picks in both customer satisfaction and trustworthiness.
- Flagstar Bank: Flagstar also ranks lower on the J.D. Power servicing customer satisfaction study.
- Veterans First Mortgage: Veterans First requires a 660 credit score. So does Navy Federal, which is on our list, but Navy Federal is a bit offers some flexibility if your score is lower.
- New American Funding: This is a good lender overall, but the lenders on our list have more features that set them apart.
- North American Savings Bank: This bank requires a 640 credit score. So does Veterans United, which made it onto our list, but Veterans United is more competitive in that it specializes in working with military members.
- BNC National Bank: You can get a VA mortgage with a 640 credit score and no down payment, or 620 with a down payment.
- Bank of America: Bank of America is one of our favorite overall mortgage lenders, but when it comes to its VA loan offerings, it lacks the standout features our top picks had.
- NBKC Bank: NBKC Bank also lacked the impressive features we look for in our top picks.
- US Bank: This lender ranked low in J.D. Power's annual study.
Why You Should Trust Us: Experts' Advice on Choosing the Best VA Mortgage Lender
Insider
We consulted mortgage and financial experts to inform these picks and provide their insights about mortgage lenders.
- Anthony Park, author of "How to Buy Your Perfect First Home"
- Lauryn Williams, certified financial planner, founder of Worth Winning Financial Planning
- Julie Aragon, mortgage broker, founder of Aragon Lending Team
- Molly Grace, mortgage reporter at Personal Finance Insider
Here's what they had to say about VA mortgages. (Some text may be lightly edited for clarity.)
How can someone decide between a conventional mortgage vs. a government-backed mortgage, like a VA loan?
Molly Grace, Personal Finance Insider
"An FHA mortgage is a really helpful option for borrowers with low scores or kind of rocky credit histories. But if you have great credit, you may get a better rate and pay less for mortgage insurance on a conventional mortgage.
VA mortgages are really great deals. If you qualify for one, you should definitely go for it. You get zero down with no mortgage insurance — plus some of the best rates available."
Julie Aragon, Aragon Lending Team:
"The most common government loan that's widely available to almost everyone is the FHA loan. There's a couple of reasons why somebody would go with FHA instead of conventional one. Their credit is a little on the crummy side, let's say below 700. You can get conventional with down to a 620 score, but the mortgage insurance gets really expensive. FHA doesn't discriminate — no matter how perfect or crappy your credit is, the mortgage insurance is the same."
What factors should someone take into consideration when choosing a mortgage lender?
Anthony Park, author:
"The canned answer is to just go with the lowest rate. However, you also want to take into account who's going to serve your loan best. Are repayments going to be easy for you? Who is most likely to be able to help you if you need to take out a HELOC or refinance later, versus somebody who's more of a one-off type?
"They may have the lowest rates to get you involved, but they might have very, very little hand holding after the fact. I wouldn't recommend paying an exorbitant amount more for potential services in the future, but just don't always necessarily go with the rock-bottom lowest rate. There's sometimes a cost with that."
Molly Grace, Personal Finance Insider:
"Remember that you're not just choosing a mortgage lender — you're also building a homebuying team. To snag the home you want in this competitive market, you need a lender that can move quickly and has good communication with you and your real estate agent.
When I was looking for a house, I was able to text my loan officer (whom my real estate agent recommended) and get quick replies when I had questions or needed an updated preapproval letter for an offer. As you compare lenders, pay attention to how responsive they are, and ask your agent if they have any experience with the lenders you're considering."
How can someone know whether they're financially ready to buy a home?
Lauryn Williams, CFP:
"You should have funds left over after everything is said and done as it pertains to purchasing the home. So if you don't have an emergency fund plus a down payment, you're probably not ready to purchase a home. Another thing I think about is credit card debt. While you can be approved for a mortgage with credit card debt and student loans and very little cash on hand, you put yourself in a very risky situation."
Molly Grace, Personal Finance Insider
"You have to be ready to dedicate a chunk of your budget to homeownership — and I don't mean your mortgage payment. When you own your house, there's always something that needs taking care of, especially in the first year. We got to our new house on moving day to find that the A/C was out. We paid $700 to have it fixed."
Methodology: How Did We Choose the Best VA Mortgage Lenders?
To choose the top VA mortgage lenders, we looked at three main factors:
- Affordability/credit score. VA loans are known for being an affordable option, with no down payment for qualifying borrowers. They also usually have more lenient credit score requirements than conventional mortgages. We chose lenders that accept low credit scores or are flexible about credit scores if other parts of your financial profile are strong. Many of the companies on our list also accept non-traditional forms of credit in place of a credit score.
- Customer satisfaction. If the lender appeared in the J.D. Power 2022 Primary Mortgage Origination Satisfaction Study, we looked at its ranking. If it wasn't in the study, we read online customer reviews.
- Ethics. Most of our top picks received an A+ from the Better Business Bureau, which measures companies' trustworthiness. The exceptions are Carrington, USAA and Navy Federal Credit Union, which have an NR ("no rating"), and Chase, which has a B+.
See our full methodology for reviewing mortgage lenders »