Top 5 VA Loan Providers in 2021
Discover the top five VA loan providers in 2021, including Guaranteed Rate, Flagstar Bank, Veterans United, PenFed, and Quicken Loans. This guide highlights their services, eligibility criteria, approval times, and unique features, helping veterans and military personnel find the best financing options for homeownership without down payments or mortgage insurance. Making the right choice among these lenders can streamline your homebuying journey and secure favorable rates and terms tailored to your needs.
Leading VA Loan Lenders of 2021
VA loans are a valuable benefit for veterans, active military members, and their spouses, enabling homeownership without requiring a down payment or mortgage insurance. These loans are offered by private lenders, including banks and mortgage companies. With numerous options available, choosing the right lender can be daunting. To assist, here is a list of the top five VA loan lenders for 2021.
Highlighted VA loan lenders include:
Guaranteed Rate
Operating across all 50 states with over 300 branches, Guaranteed Rate offers online applications and digital documentation. While the pre-approval process may take longer, the minimum credit score is 600. They provide VA and jumbo loans but do not offer home equity products.
Flagstar Bank
Flagstar provides diverse home financing options to veterans, including buying, building, or refinancing. Available online nationwide and through over 70 branches in 29 states, it offers quick pre-approvals within three days and closing in around 30 days. They feature competitive rates and lower credit score requirements.
Veterans United Home Loans
This lender offers FHA, USDA, jumbo, fixed, and adjustable-rate VA loans. While home equity loans are not available, services are primarily in 18 states, with higher interest rates. Their streamlined online application and pre-qualification process are efficient, and they provide complimentary credit counseling through specific programs.
PenFed Credit Union
PenFed has a limited product range, including VA, jumbo, and home equity loans. Requiring higher credit scores, PenFed does not charge lender fees. They serve all 50 states, with pre-approvals in three days and closings within 35 days, with some international locations.
Quicken Loans®
As one of the largest mortgage providers in the U.S., Quicken Loans offers fully online, paperless processes. Pre-approval is quick, and closing typically takes up to 40 days. They require a minimum credit score of 620 and offer VA, FHA, and conventional loan options.
Note:
The content presented here is based on research, data, expert opinions, and statistics. Please note that offerings and details can vary among lenders and may change over time. We are not responsible for inaccuracies or differing opinions. It’s advised to consult a financial professional before making borrowing decisions.
