BEST OF

12 Best VA Mortgage Lenders of January 2022

VA loans for current and veteran military members don't require a down payment or mortgage insurance. Compare our picks for best VA mortgage lenders of 2022.

Jan 5, 2022

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VA mortgage lenders vary in the products and services they offer and their financial requirements for borrowers, so it's important to shop around for a VA loan lender that meets your needs.

NerdWallet picked some of the best VA mortgage lenders in a variety of categories to give you a head start.

Best VA Mortgage Lenders

Veterans United
Learn more

at Veterans United

Veterans United: NMLS#1907

4.5

NerdWallet rating 
Veterans United

Min. Credit Score

640

Min. Down Payment

0%
Learn more

at Veterans United


Why we like it

Good for: veterans, active-duty service members and eligible reservists looking for VA or non-VA loans.

Pros

  • Offers 24/7 customer service over the phone.

  • Has online application and prequalification.

  • Offers a free credit counseling service.

  • Employs advisors from each branch of the armed forces.

Cons

  • Doesn’t offer home equity loans or HELOCs.

  • Veterans United has physical branch offices in only 17 states.

  • Information on FHA, USDA and conventional loans is harder to find on its website.

Read Full Review
NBKC
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at NBKC

NBKC: NMLS#409631

5.0

NerdWallet rating 
NBKC

Min. Credit Score

660

Min. Down Payment

0%
Learn more

at NBKC


Why we like it

Good for: borrowers with solid credit who want to pay low rates and get an online experience with phone support. VA loans are an emphasis.

Pros

  • Offers low rates compared with other lenders, according to the latest data.

  • Extends full online capabilities, from application to loan tracking.

  • Displays customized rates, with fee estimates, without requiring contact information.

Cons

  • Equity lines and construction loans are available only in the Kansas City metro area.

  • Doesn’t offer renovation loans.

Read Full Review
Rocket Mortgage, LLC
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at Rocket Mortgage, LLC

Rocket Mortgage, LLC: NMLS#3030

4.0

NerdWallet rating 
Rocket Mortgage, LLC

Min. Credit Score

620

Min. Down Payment

0%
Learn more

at Rocket Mortgage, LLC


Why we like it

Good for: borrowers who appreciate convenience online and on the go for a fully digital home loan experience with consistently acclaimed customer service.

Pros

  • Caters to self-service users who want to apply for a home loan online and talk to a human only as necessary.

  • Estimates the loan amount you’ll qualify for within minutes.

  • Streamlines the online process with document and asset retrieval capabilities, including the ability to edit your preapproval letter.

Cons

  • Getting a customized interest rate requires a credit check, which can affect your credit score.

  • Doesn't offer home equity loans or lines of credit.

  • Lender fees are on the high side and the fees aren't offset by particularly low mortgage rates, according to the latest data.

Read Full Review
New American Funding
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at New American Funding

New American Funding: NMLS#6606

5.0

NerdWallet rating 
New American Funding

Min. Credit Score

580

Min. Down Payment

0%
Learn more

at New American Funding


Why we like it

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness, in some cases.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage origination fees tend to be on the high end, according to the latest federal data.

Read Full Review
NASB
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at NASB

NASB: NMLS#400039

5.0

NerdWallet rating 
NASB

Min. Credit Score

640

Min. Down Payment

0%
Learn more

at NASB


Why we like it

NASB couples competitive mortgage rates and reasonable fees with a good assortment of loan options.

Pros

  • Devotes much of its business to serving military families with VA loans.

  • Considers nontraditional income sources, in some cases.

  • Offers competitive rates and origination fees.

Cons

  • Does not offer home improvement mortgages.

  • Doesn't offer home equity loans and lines of credit.

Read Full Review
BNC National Bank
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at BNC National Bank

BNC National Bank: NMLS#418467

4.5

NerdWallet rating 
BNC National Bank

Min. Credit Score

640

Min. Down Payment

0%
Learn more

at BNC National Bank


Why we like it

BNC National Bank offers a robust variety of loans, but you have to reach out to a loan officer to get customized interest rates.

Pros

  • Wide variety of loan types and products.

  • Improved online capabilities, and robust iOS and Android apps.

  • Considers alternative credit data, like cell phone payments.

Cons

  • Limited number of physical mortgage offices.

  • Limited rate information is available without starting an application or speaking with a loan officer.

Read Full Review

Navy Federal: NMLS#399807

4.5

NerdWallet rating 
Navy Federal

National / Regional

National

Min. Down Payment

0%

Why we like it

Good for: military members and their families looking for low-down-payment mortgages.

Pros

  • Offers a wide range of affordable mortgage products designed for military members.

  • Has an online application for preapproval.

  • Offers low rates compared with most lenders, according to the latest data.

Cons

  • Website does not provide customized mortgage rates based on credit score or other factors before you apply.

  • Credit union membership is limited to veterans and current military members, their families, and certain federal employees, retirees and contractors.

Read Full Review

Network Capital: NMLS#11712

5.0

NerdWallet rating 
Network Capital

Min. Credit Score

640

Min. Down Payment

0%

Why we like it

Good for: borrowers looking for a lender with online convenience and mortgage banker assistance.

Pros

  • A mobile app supports the loan process.

  • A good selection of loan products, including all government-backed mortgages.

  • Offers jumbo loans up to $30 million.

Cons

  • Doesn't lend in all states.

  • Website doesn’t provide customized mortgage rates.

Read Full Review
KS StateBank
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at KS StateBank

KS StateBank: NMLS#410602

5.0

NerdWallet rating 
KS StateBank

Min. Credit Score

540

Min. Down Payment

0%
Learn more

at KS StateBank


Why we like it

KS StateBank doesn't disappoint when it comes to a wide selection of loan products. Mortgage rates are competitive and online services are among the best, but rate shoppers will find little information online.

Pros

  • The full loan product selection typical of a bank.

  • Its Hero program waives loan origination fees for educators, veterans, firefighters and police.

  • Serves 49 states and Washington, D.C., (but not New York).

Cons

  • Face-to-face service available only in Arizona, Kansas and Minnesota.

Read Full Review
PennyMac
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at PennyMac

PennyMac: NMLS#35953

4.5

NerdWallet rating 
PennyMac

Min. Credit Score

620

Min. Down Payment

0%
Learn more

at PennyMac


Why we like it

PennyMac excels in online capabilities and makes it easy to shop rates online. Average origination fees are higher than other lenders, and home equity lines of credit and jumbo mortgages were suspended due to the COVID-19 pandemic.

Pros

  • Offers a full range of online capabilities, including e-signatures and online loan process tracking.

  • Displays custom rate quotes based on home value, down payment or equity, ZIP code and credit score range.

Cons

  • Origination fees are on the higher end, according to the latest federal data.

  • Doesn't offer jumbo mortgages or home equity lines of credit.

Read Full Review

Carrington: NMLS#2600

4.5

NerdWallet rating 
Carrington

Min. Credit Score

500

Min. Down Payment

0%

Why we like it

Good for: first-time home buyers or credit-challenged borrowers interested in government loan products.

Pros

  • Offers multiple low-down-payment loan programs.

  • May consider alternative credit data, such as bank statements and rent payments.

  • You can view customized rates for purchasing a home and apply online.

Cons

  • Doesn't offer home equity loans, HELOCs or renovation mortgages.

  • Lender fees and mortgage rates are on the high side, according to the latest data.

Read Full Review

PenFed: NMLS#401822

4.5

NerdWallet rating 
PenFed

Min. Credit Score

N/A

Min. Down Payment

0%

Why we like it

PenFed Credit Union has a digital mortgage application and offers a wide selection of mortgages, including low-down-payment home loans. But it doesn't offer FHA mortgages.

Pros

  • Offers a broad selection of home loan products, including low-down-payment options for first-time home buyers and home buyers of limited means.

  • Offers a lender credit, based on loan amount, for purchase mortgages.

  • Mortgage rates and fees are low compared to other lenders, according to the latest data.

Cons

  • Lender credit isn't available for refinance mortgages.

  • Doesn't offer FHA or home improvement loans.

Read Full Review

Qualifying for a VA loan

VA home loans are backed by the U.S. Department of Veterans Affairs and provided by private lenders. VA loans require no down payment or mortgage insurance and have competitive mortgage rates compared to other types of home loans.

Active-duty military members and veterans who meet length-of-service requirements may apply for a VA loan. Some surviving spouses may also be eligible for a VA loan.

More from NerdWallet

Last updated on January 5, 2022

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The four key areas we evaluated include the variety of loan types offered, ease of application, mortgage rate transparency, and our analysis of the rates and fees lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Best VA Mortgage Lenders of January 2022

Frequently asked questions