About Veterans United Home Loans
Veterans United Home Loans is a VA lender that only works with current and former members of the US military. In 2019, Veterans United gave out more than 53,000 VA loans, making it the largest VA lender for the fourth year in a row. Veterans United helps people in the Armed Forces buy and sell homes. Veterans United is there for you around the clock, whether you are retired, on active duty, or serving overseas.
Overview – Veterans United Home Loans
Veterans United is one of only a few lenders that only work with VA loans. You won’t find conventional or FHA loans there, but you will find everything you need to know about VA loans. This includes VA purchase loans and a variety of refinancing options, such as VA Streamline, Interest Rate Reduction Refinance (IRRRL), and Cash-Out refinancing.
Whom Does It Fit? – Veterans United Home Loans
VA loans are available to anyone who meets the Department of Veterans Affairs’ minimum requirements. All of these people can get help from Veterans United, which has more experience with VA loans than any other lender. Veterans United goes above and beyond for its customers. For example, it has real estate and consulting services made just for veterans by veterans.
Different Loans and Products
Veterans United only offers the VA loan for a home loan. A VA home loan is a loan offered by private lenders and partially backed by the federal government’s Department of Veterans Affairs. Because the government is involved, lenders are willing to take on more risk than they would with a normal borrower.
Here are some of the things Veterans United has to offer:
- Veterans United Military Advisors is a group of former senior enlisted leaders from each branch of the military whose goal is to teach veterans about home ownership and VA loans.
- Veterans United Realty is a separate part of Veterans United that works with a network of real estate agents all over the country who have experience helping Veterans.
- Lighthouse Program is a free service that helps Veterans improve their credit score and finances so they can get a home loan.
- Veterans United Foundation helps military families in need and also gives service members and their families a scholarship every other year.
- There are regular sales. For example, when we checked in, Veterans United and Realtor.com had teamed up to offer a contest with a first prize of $75,000 toward the purchase of a new home.
How to Fill Out an Application of – Veterans United Home Loans
Veterans United lets people apply online or over the phone. Its agents can help veterans with their home loan applications in a way that no one else can. Aside from the close attention, applying for a loan at Veterans United is the same as applying anywhere else. You’ll need to show proof of who you are and how much money you have, like a state ID or driver’s license, your social security number, and your tax returns.
Before you apply for a VA loan from Veterans United, here are some things you should know:
Minimum requirements for eligibility are 181 days of active duty during peacetime, 90 days of active duty in a row during wartime, 6 years in the National Guard or Reserve, or being the spouse of a veteran who died while serving.
- At least 660 on your credit score.
- The least you can put down is $0.
- There’s no need to buy PMI (private mortgage insurance).
- The VA requires that you have a Certificate of Eligibility. Veterans United helps people get this document, which is a good thing.
Rates and Conditions – Veterans United Home Loans
Veterans United gives you a choice between two ways to pay back your loan: a fixed-rate repayment over 30 years or a fixed-rate repayment over 15 years.
Veterans United, like all other VA lenders, has to charge a funding fee of 2.15% of the loan amount, or 2.4% for members of the National Guard and Reserves.
The fee doesn’t apply to surviving spouses or veterans who get disability payments from the VA. With a 5% down payment, the fee goes down to 1.5%, and with a 10% down payment, it goes down to 1.25%.
Interest rates are very close to each other. As of the end of May 2020, these were the rates:
- Starting at 3.125% (3.411% APR) for a 30-year fixed VA purchase loan.
- 15-year fixed VA home loan rates start at 3.125% (3.631% APR).
Help and Aid – Veterans United Home Loans
Veterans United isn’t like most lenders because it has phone service for customers all the time. This is so that troops stationed overseas can get in touch whenever it’s convenient for them. Anyone can use this service, including veterans and service members who are not currently on active duty.
Phone Number: (800) 884-5560 , Website- https://www.veteransunited.com/
Summary – Veterans United Home Loans
VA loans are the only thing Veterans United does, but it does it very well. There are a lot of lenders and groups out there that want to help veterans get into their dream home, but not many can say that they are as committed to VA loans as Veterans United. If you meet the requirements for a VA loan set by the Department of Veterans Affairs, you should definitely get a quote from Veterans United.
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