Veterans United Review

Overview

If you are looking to purchase a home and are an active military member or veteran, then Veterans United is here to help. As the nations #1 VA Lender, Veterans United connects military personnel with unique financing opportunities that take into account your location, housing needs, and household budget. Allowing you to use your hard-earned benefits, you can quickly see what you qualify for online, and can lock in competitive interest rates with no down payment or private mortgage insurance required. Perfect for first time buyers who are starting their journey towards homeownership, Veterans United is a trusted resource and is committed to providing in-depth guidance and education as you explore your options and secure funding for your dream home. 

Loan Types

As their name suggests, Veterans United is a specialized mortgage lender that focuses on helping military members and their families secure the funding they need to purchase property and successfully become a homeowner. In order to do this, they have created a streamlined application process specifically for VA loans, a government-backed mortgage option that typically offers more competitive rates and doesn’t require a down payment or private mortgage insurance. Only available to veterans, service members, and surviving spouses, VA loans also tend to have more lenient credit score and debt-to-income ratio requirements, making them a popular and beneficial opportunity for those who qualify. 

Through Veterans United, you will have the chance to learn more about qualifying for a VA loan, and can proceed with applying quickly and easily using their online application form. Streamlined for your convenience, Veterans United makes the journey to homeownership as hassle-free as possible and you can tap into expert support and guidance 24/7 digitally or by phone. Known for providing industry-leading customer service to everyone they work with, and with numerous digital resources available for free, Veterans United is the place to turn if you’re curious about buying a home and want to explore a possible VA loan as your preferred mortgage type. 

Although Veterans United specializes in connecting eligible individuals with VA loans, that isn’t the only avenue available and if you’re looking to purchase a property they can also help you to explore other opportunities such as conventional loans, jumbo loans, FHA loans, and USDA loans. If this is something you are interested in learning more about, you are encouraged to reach out and speak with a loan expert directly who can assist you with understanding what you may qualify for and what loan will best suit your unique circumstances. 

Eligibility

Since VA loans are a very specific type of mortgage, there are some unique requirements that potential applicants will need to satisfy in order to be considered for pre-approval. With Veterans United, you will need to have a minimum credit score of at least 620+ and a debt-to-income ratio below 41%. On top of that, since this isn’t a conventional mortgage, it isn’t just your income or credit score that are contributing factors, and everyone who is eligible will need to meet one or more of the following eligibility guidelines:

• Served at least 90 continuous days of active duty during wartime
• Served at least 181 days of active service during peacetime
• Have 6 years of service in the National Guard or Reserves
• Served 90 days (at least 30 of them consecutively) under Title 32 orders
• Are the surviving spouse of a service member who died while serving
• Are the surviving spouse of a service member who died due to a service-related disability

Alongside meeting one of the above eligibility requirements, you will also need to produce a valid Certificate of Eligibility which highlights to the lender the dollar amount currently available to you based on a complex calculation of your VA entitlement. If you are unsure how to secure the COE, you can speak with an expert at Veterans United and they will be happy to assist you, as this is not something that is required prior to applying, only once you are pre-approved. 

The best way to know for certain whether or not you are eligible for a VA loan is to visit the Veterans United website directly when you can tap into their free online calculators and fill out a pre-approval application yourself. Requiring only a few short minutes of your time, the application will ask you about you or your spouse’s time as an active military member, and will factor in your credit history, existing debts, and which state you reside in. Once completed, you will be able to see a near-instant answer on whether or not you qualify, and if so, how much you could be approved for and what your competitive rate would be. 

Application Process

The very first step in your homeownership journey begins with the online pre-approval application which you will complete digitally through the Veterans United website. Requiring only a few minutes of your time, this initial application helps to verify whether or not you meet the eligibility requirements, and if so, how much your potential loan amount and interest rate would be. Once you’ve completed this step and have been approved, you can then move onto the formal aspect for the mortgage process, which includes receiving conditional approval approximately 24 hours after you submit the required paperwork. 

From start to finish, the entire application process takes approximately 30 to 45 days once you’re under contract on a home, and this is noticeably faster than many other lenders who tend to have lengthier delays and a more drawn-out process. However, how long it takes you in particular will depend on your unique situation, how complex your Certificate of Eligibility is, and how quickly you want to move forward with the actual homebuying part of the process. At the end of the day, everything is based on your wants and needs, and at no point will you feel pressured or required to continue with your application if you have a change of heart and no longer want to secure a mortgage through Veterans United. 

While the process may feel daunting, Veterans United does make it as simple and as straightforward as possible and they will pair you with a loan expert who can guide you through everything step by step. One of the big benefits of working with Veterans United is they excel at delivering tailored and compassionate support, and they are consistently rated 5-stars by the service members who put their trust into them. Helping you to gather necessary documentation, fill out paperwork, and even better understand your credit and finances, Veterans United is always by your side and their loan experts are available by phone 24 hours a day, 7 days a week to meet the needs of both local individuals and those who may be stationed overseas and in a different timezone. 

Rates, Terms, & Fees

Financing a home purchase using a VA loan comes with a host of benefits, and one of the main reasons why you may want to consider this avenue if you qualify is that there is no downpayment required to be approved. Unlike a conventional home loan, which often requires a minimum of 5%, VA loans allow you to finally get that house of your dreams without years of saving, and this makes it a much more affordable opportunity that’s easier to obtain. In addition to no down payment, you will also be able to save yourself from having to add on private mortgage insurance (PMI), which is something lenders require if you aren’t putting down a minimum of 20%. Saving you significant money both monthly and over the course of the loan, a lack of PMI is a big perk that will help you stretch your buying power in ways other mortgage types wouldn’t. 

PMI and a 0% down payment requirement aren’t the only ways you will enhance your savings with a VA loan, and by working with Veterans United you will be able to tap into some of the lowest available interest rates specifically for veterans and active military members. With competitive rates on 30-year fixed rate terms, you can lock in your qualified interest rate after you are pre-approved, ensuring you get the best rate possible for up to 60 days. To learn more about current rates, or to see what rate you qualify for, you can visit the Veterans United website where they update daily with the most accurate APRs based on credit score estimates. 

Bottom Line

If you’ve been dreaming of purchasing your own home but are unsure about where to begin that journey then it’s time to connect with the experts at Veterans United. Committed to helping military members and their spouses to achieve their goals, Veterans United is the nations #1 VA loan lender and is a trusted and reputable resource for securing the right mortgage to meet your financial situation and your needs. Designed to be as simple and streamlined as possible, this lightning-fast lender will help you to understand what you qualify for upfront, and can match you with a competitively low interest rate that can be locked in immediately. To learn more about whether or not a VA loan is the right choice for you, or to enjoy a personalized rate offer, head on over to the Veterans United website today and see why they are consistently rated 5-stars by the military members who trust in their services.