The best VA lenders go out of their way to offer borrowers dependably low interest rates, satisfactory service and several perks such as no down payment, no mortgage insurance or lower interest rates. Below are some of the best VA lenders and what they offer.
Navy Federal Credit Union
This lender offers very low interest rates; as low as 3.56 percent in 2019. The average loan is 30 years and the minimum credit score is 580. On average, the Navy Federal Credit Union received a 4.7 score out of 5, which is pretty satisfactory. In 2019, this lender got third place as one of the best VA lender in the United States. Their mortgage origination was fast and efficient according to J.D. Power.
Stearns Lending, LLC
This lender is known for having excellent customer service. In fact, it got a 5 out of 5 for how they handled their customers. They offer a 30 year VA mortgage with interest rate as low as 3.92 percent. The minimum credit score is 580, which is considered a major benefit for borrowers struggling with low credit scores.
Movement Mortgage, LLC
Movement Mortgage is known for its speedy loan process for VA loans. The application approval process is as little as six hours. In some cases, the entire process is seven days and closing could be in less than two weeks. The lender offers borrowers a great online experience when applying for a loan. The interest rate is 3.98 percent and the minimum credit score is 580.
Quicken Loans Inc.
This lender is well known for its credit score requirement of 620 prior to even looking at your loan application. The interest rate is 3.68 percent and they offer a 30 year VA loan. In some cases, their debt to income cap is 60 percent.
Veterans United Home Loans
This VA lender is one of the largest in the United States. You must have a credit score of 660 before you qualify for a loan. Out of a score of 5, this lender gets 4.9 percent for good customer service. The interest rate is 4 percent for a 30 year loan. The lender has a Lighthouse program for borrowers with a lower credit score than 660. The program provides free counseling so borrowers can reach the credit score threshold required.
