Motortion/Getty Images; Illustration by Issiah Davis/Bankrate
3 min read Published September 10, 2024
Andrew Dehan 
Written by
Suzanne De Vita 
Edited by
The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
The Bankrate promise
Founded in 1976, Bankrate has a long track record of helping people make smart financial choices. We’ve maintained this reputation for over four decades by demystifying the financial decision-making process and giving people confidence in which actions to take next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. All of our content is authored by highly qualified professionals and edited by subject matter experts, who ensure everything we publish is objective, accurate and trustworthy.
Our mortgage reporters and editors focus on the points consumers care about most — the latest rates, the best lenders, navigating the homebuying process, refinancing your mortgage and more — so you can feel confident when you make decisions as a homebuyer and a homeowner.
Editorial integrity
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories, except where prohibited by law for our mortgage, home equity and other home lending products. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range, can also impact how and where products appear on this site. While we strive to provide a wide range of offers, Bankrate does not include information about every financial or credit product or service.
Comparing lenders, you might not expect many differences with loans guaranteed by the Department of Veterans Affairs (VA). However, the exact terms of your particular VA loan and your borrowing experience can vary greatly depending on the lender you choose. Bankrate has evaluated dozens of financial institutions, both bank and non-bank, offering VA loans. Here is our guide to the best VA mortgage lenders in 2024.
Best VA loan lenders
| VA mortgage lender | Bankrate Score | Minimum credit score | Minimum down payment |
|---|---|---|---|
| USAA | 4.8 | 640 for VA loans | 0% for VA loans |
| Veterans United Home Loans | 4.9 | 620 for VA loans | 0% for VA loans |
| Rocket Mortgage | 4.6 | 580 for VA loans | 0% for VA loans |
| Navy Federal Credit Union | 4.4 | Undisclosed | 0% for VA loans |
| LoanDepot | 4.2 | 620 for VA loans | 0% for VA loans |
| CrossCountry Mortgage | 4.0 | Undisclosed | 0% for VA loans |
USAA
Rating: 4.8 stars out of 5
4.8
Learn more in our Bankrate review
-
Specializing in financial products for current and former military members and their families, USAA Mortgage has plenty of experience with VA loans. On top of this, it grants preapprovals quickly and doesn’t charge an origination fee.
Veterans United Home Loans
Rating: 4.9 stars out of 5
4.9
Learn more in our Bankrate review
-
Veterans United is the largest VA loans lender in the country — a specialist in them, as its name implies. It consistently receives accolades from J.D. Power and high marks from its borrowers for its customer service.
Rocket Mortgage
Rating: 4.6 stars out of 5
4.6
Learn more in our Bankrate review
-
Rocket Mortgage, a pioneer in online lending, has grown to be the biggest mortgage lender in the U.S. It’s also one of the country’s largest VA mortgage lenders by volume.
Navy Federal Credit Union
Rating: 4.4 stars out of 5
4.4
Learn more in our Bankrate review
-
Navy Federal Credit Union is one of the nation’s top VA lenders by volume and (as its name implies), a specialist in serving members of the military. It has a sophisticated online application experience and scores highly for customer satisfaction.
LoanDepot
Rating: 4.2 stars out of 5
4.2
Learn more in our Bankrate review
-
LoanDepot combines a robust online presence with over 200 branches located throughout the U.S. They’re a good option if you want a large VA lender with both online and in-person communication options.
CrossCountry Mortgage
Rating: 4 stars out of 5
4
Learn more in our Bankrate review
-
CrossCountry Mortgage is one of the top 20 mortgage lenders and one of the top 10 VA lenders by volume. With their nationwide availability and fast preapproval time, they’re a top contender for VA loans.
How to find a VA mortgage lender for you
- Make sure you’re eligible. You’ll need to obtain your certificate of eligibility (COE) before applying for a VA loan.
- Apply and compare offers. Apply for preapproval with at least three VA lenders to compare their rates and fees. A competitive rate can save you thousands in the long run — and studies show that those who compare usually end up with a better deal. Check out current VA loan purchase rates and VA refinance rates.
- Read reviews and compare lenders. Check out lender reviews and examine the best lenders for VA home loans side by side.
- Estimate closing costs. Get a read on the estimated closing costs for your VA loan, which can total up to 6 percent of the home purchase price.
Learn more: How to get a VA home loan
Qualifications for VA loans
VA loans are available only to borrowers who meet these criteria:
- Be an active duty service member or veteran who was honorably discharged and meets minimum service requirements
- Have served 90 consecutive active days, at minimum, during wartime or at least 181 consecutive active days during peacetime, or served for six years or longer in the National Guard or Selected Reserve
- Be a surviving spouse of an eligible service member or veteran
To qualify for a VA loan, you must also secure a certificate of eligibility (COE) and meet your lender’s minimum credit score, debt-to-income (DTI) ratio and income requirements. In addition:
- The loan must be for your primary residence only.
- You must pay the VA funding fee.
- You must move into the home within 60 days of closing the loan, although there’s some flexibility with that time frame.
Learn more: VA home loan requirements
Types of VA loans
- VA purchase mortgage: To buy a home
- VA construction loan: To build a home
- VA rate-and-term refinance: To refinance an existing mortgage to a VA loan with a new interest rate, term or both
- VA Interest Rate Reduction Refinance Loan (IRRRL) or streamline refinance: To refinance an existing mortgage without an appraisal or credit check
- VA cash-out refinance: To refinance an existing mortgage and take cash out from your home’s equity
- VA rehab/renovation loan: To buy and renovate a home
- Native American Direct loan (NADL): For Native American veterans to buy, build or renovate a home, or to refinance
Fees associated with VA loans
Unique to VA loans, the VA funding fee ranges from 1.25 percent to 3.3 percent of the loan amount, depending on the size of your down payment and whether it’s your first time getting a VA loan. Along with the funding fee, you’ll pay VA closing costs.
Who are the largest VA mortgage lenders in the U.S.?
For comparison to our best VA lenders list, here are the 10 largest VA mortgage lenders based on the number of loans originated as of July 2024, as reported by the VA:
| VA mortgage lender | Originations, loan volume | Originations, dollar volume |
|---|---|---|
| Veterans United Home Loans | 5,729 | $1.87 billion |
| United Wholesale Mortgage | 3,696 | $1.56 billion |
| Rocket Mortgage | 2,190 | $817 million |
| Freedom Mortgage | 1,879 | $684 million |
| Navy Federal Credit Union | 1,710 | $658 million |
| Pennymac | 1,241 | $503 million |
| DHI Mortgage | 1,129 | $405 million |
| USAA | 886 | $341 million |
| CrossCountry Mortgage | 803 | $346 million |
| Village Home Mortgage | 736 | $268 million |
| LoanDepot | 694 | $261 million |
