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The best VA mortgage lenders of November 2022

Insider’s experts choose the best products and services to help make smart decisions with your money (here’s how). In some cases, we receive a commission from our our partners, however, our opinions are our own. Terms apply to offers listed on this page.

If you qualify for a VA mortgage, you have the ability to purchase a home very affordably, with no down payment, low rates, and no limits on how much you can borrow. These home loans are available to active military, veterans, and their spouses.

The best VA mortgage lenders have low minimum credit score requirements. Most have strong customer satisfaction and trustworthiness scores. And many have special features such as live online chat or digital closing options.

Bank of America

Bank of America

3.75/5

Minimum Credit Score
620

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Bank of America

3.75/5

Minimum Credit Score
620

View Full Details
On Bank of America Mortgage – VA Mortgage’s website

Bank of America

Minimum Credit Score
620
Editor’s Rating

3.75/5

Carrington Mortgages Services

4.5/5

Minimum Credit Score
500

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Carrington Mortgages Services

4.5/5

Minimum Credit Score
500

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On Bankrate’s website

Carrington Mortgages Services

Minimum Credit Score
500
Editor’s Rating

4.5/5

Fairway Independent Mortgage Corporation

Fairway Independent Mortgage Corporation VA Mortgage

4.5/5

Minimum Credit Score
600

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Fairway Independent Mortgage Corporation VA Mortgage

4.5/5

Minimum Credit Score
600

View Full Details
On Bankrate’s website

Fairway Independent Mortgage Corporation VA Mortgage

Minimum Credit Score
600
Editor’s Rating

4.5/5

Movement VA Mortgage

4.88/5

Minimum Credit Score
580

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Movement VA Mortgage

4.88/5

Minimum Credit Score
580

View Full Details
On Bankrate’s website

Movement VA Mortgage

Minimum Credit Score
580
Editor’s Rating

4.88/5

Navy Federal Credit Union Mortgage

3.75/5

Minimum Credit Score
660
Types of Loans Offered
Conforming, jumbo, VA, Military Choice, Homebuyers Choice, refinance

View Full Details
Navy Federal Credit Union Mortgage

3.75/5

Minimum Credit Score
660
Types of Loans Offered
Conforming, jumbo, VA, Military Choice, Homebuyers Choice, refinance

View Full Details
On Bankrate’s website

Navy Federal Credit Union Mortgage

Minimum Credit Score
660
Types of Loans Offered
Conforming, jumbo, VA, Military Choice, Homebuyers Choice, refinance
Editor’s Rating

3.75/5

NBKC Bank

NBKC Bank VA Mortgage

4/5

Minimum Credit Score
620


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NBKC Bank VA Mortgage

4/5

Minimum Credit Score
620

View Full Details
On Bankrate’s website

NBKC Bank VA Mortgage

Minimum Credit Score
620
Editor’s Rating

4/5

Rocket Mortgage

Rocket Mortgage by Quicken Loans – VA Mortgage

4.5/5

Minimum Credit Score
620


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Rocket Mortgage by Quicken Loans – VA Mortgage

4.5/5

Minimum Credit Score
620

View Full Details
On Bankrate’s website

Rocket Mortgage by Quicken Loans – VA Mortgage

Minimum Credit Score
620
Editor’s Rating

4.5/5

US Bank

US Bank VA Mortgage

4/5
5 Stars

Minimum Credit Score
600


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US Bank VA Mortgage

4/5

Minimum Credit Score
600

View Full Details
On Bankrate’s website

US Bank VA Mortgage

Minimum Credit Score
600
Editor’s Rating

4/5

USAA

USAA Mortgage

3.5/5

Minimum Credit Score
640
Types of Loans Offered
VA, VA jumbo, VA refinance


View Full Details

USAA Mortgage

3.5/5

Minimum Credit Score
640
Types of Loans Offered
VA, VA jumbo, VA refinance

View Full Details
On Bankrate’s website

USAA Mortgage

Minimum Credit Score
640
Types of Loans Offered
VA, VA jumbo, VA refinance
Editor’s Rating

3.5/5

Veterans United

Veterans United Mortgage

4.5/5

Minimum Credit Score
620
Types of Loans Offered
Conforming, jumbo, FHA, USDA, VA, refinance


View Full Details

Veterans United Mortgage

4.5/5

Minimum Credit Score
620
Types of Loans Offered
Conforming, jumbo, FHA, USDA, VA, refinance

View Full Details
On Veterans United Mortgage’s website

Veterans United Mortgage

Minimum Credit Score
620
Types of Loans Offered
Conforming, jumbo, FHA, USDA, VA, refinance
Editor’s Rating

4.5/5

Comparing the best VA mortgage lenders

Bank of America (jump to Bank of America details»)

The pros of Bank of America:

  • Available in all 50 states
  • Down payment and closing cost assistance programs
  • You may receive a discount on fees if you’re already a Bank of America customer
  • A+ rating from the BBB

The cons of Bank of America:

  • Doesn’t accept alternative forms of credit — you must show your credit score
  • You can’t refinance into a VA mortgage unless you’re already a Bank of America customer

Carrington Mortgage Services (jump to Carrington Mortgage Services details»)

The pros of Carrington:

  • Qualify for a VA loan with a low credit score
  • Accepts alternative forms of credit, such as proof you pay bills on time
  • A+ rating from the BBB

The cons of Carrington:

  • Not available to residents of Massachusetts or North Dakota
  • Can’t see personalized rates online

Fairway Independent Mortgage Corporation (jump to Fairway Independent Mortgage Corporation details»)

The pros of Fairway Independent:

  • Available in all 50 states
  • Qualify for a VA mortgage with a low credit score
  • Accepts alternative forms of credit, such as proof of paying bills
  • A+ rating from the BBB
  • Option to close on your mortgage digitally instead of in person

The cons of Fairway Independent:

  • Rates aren’t posted online

Movement Mortgage (jump to Movement Mortgage details»)

The pros of Movement Mortgage:

  • Available in all 50 states
  • Qualify for a VA mortgage with a credit score as low as 580
  • May accept alternative credit data if you don’t have a credit score
  • A+ rating from the BBB

The cons of Movement Mortgage:

  • No customized mortgage rates shown on the website
  • Doesn’t accept alternative forms of credit if you have a low credit score

Navy Federal Credit Union (jump to Navy Federal Credit Union details»)

The pros of Navy Federal:

  • Available in all 50 states
  • Plenty of options for military members, including VA loans, Military Choice loans, and Homebuyers Choice loans
  • High score in the J.D. Power 2021 Primary Mortgage Origination Satisfaction Survey (Navy Federal doesn’t qualify to rank because it doesn’t meet certain criteria, but J.D. Power notes that the credit union would rank highly if eligible)
  • Accepts alternative credit data
  • Although Navy Federal’s minimum credit score is technically 660, the lender looks at your financial profile as a whole and has some flexibility

The cons of Navy Federal:

  • You must qualify to join Navy Federal Credit Union to get a VA loan
  • The BBB gives it an NR (“No Rating”) because it’s in the process of responding to customer complaints

NBKC Bank (jump to NBKC Bank details»)

The pros of NBKC:

  • Available in all 50 states
  • A+ rating from the BBB
  • Live online chat makes it easy to speak with an expert about your questions
  • Discounts on interest rates and fees if you’re an Executive Costco member

The cons of NBKC:

  • Doesn’t accept alternative forms of credit, such as utility bills

Rocket Mortgage (jump to Rocket Mortgage details»)

The pros of Rocket Mortgage:

  • Available in all 50 states
  • Ranked as the top lender for customer satisfaction from J.D. Power for 11 consecutive years, and ranked No. 2 in 2021
  • A+ rating from the BBB
  • Quick, easy online experience

The cons of Rocket Mortgage:

  • No physical locations
  • Doesn’t accept alternative credit data — you must show your credit score to get a mortgage

US Bank (jump to US Bank details»)

The pros of US Bank:

  • Available in all 50 US states
  • Offers VA loans to people with low credit scores
  • A+ rating from the BBB

The cons of US Bank:

USAA (jump to USAA details»)

The pros of USAA:

The cons of USAA:

  • No cash-out refinancing
  • Does not accept alternative credit data
  • No way to see personalized interest rates online

Veterans United (jump to Veterans United details»)

The pros of Veterans United:

  • Available in all 50 states
  • High score in the J.D. Power 2021 Primary Mortgage Origination Satisfaction Survey (Veterans United doesn’t qualify to rank because it doesn’t meet certain criteria, but J.D. Power notes that the lender would rank highly if it were eligible)
  • A+ rating from the BBB
  • Accepts alternative forms of credit if you have a low/no credit score

The cons of Veterans United:

  • Difficult to find information for non-VA loans on its website, which makes it difficult to compare your options

Other VA mortgage lenders we considered

  • Chase: Chase doesn’t let you speak on the phone with VA loan officers before applying for a mortgage. You must fill out a form online, and it could take up to 48 hours to hear back.
  • Wells Fargo: Wells Fargo has undergone several public controversies in the past few years, including scandals surrounding mortgages.
  • Guild Mortgage: Guild Mortgage doesn’t show any mortgage rates on its website, let alone customizable ones.
  • Freedom Mortgage: J.D. Power ranks this lender pretty low in customer satisfaction.
  • LoanDepot: LoanDepot is a good VA mortgage lender overall, but it didn’t have the standout features of our top picks.
  • PNC Bank: PNC ranks below our top picks on the J.D. Power customer satisfaction survey.
  • Pentagon Federal Credit Union: You may like PenFed if you want a company that specializes in working with military members. But it doesn’t have some of the unique features our top picks have.
  • Guaranteed Rate: This lender falls below our top picks in both customer satisfaction and trustworthiness.
  • Flagstar Bank: Flagstar also ranks lower on the J.D. Power customer satisfaction survey.
  • Veterans First Mortgage: Veterans First requires a 660 credit score. So does Navy Federal, which is on our list, but Navy Federal is a bit offers some flexibility if your score is lower.
  • New American Funding: This is a good lender overall, but the lenders on our list have more features that set them apart.
  • North American Savings Bank: This bank requires a 640 credit score. So does Veterans United, which made it onto our list, but Veterans United is more competitive in that is specializes in working with military members.
  • BNC National Bank: You can get a VA mortgage with a 640 credit score and no down payment, or 620 with a down payment.

Methodology: How we chose the best VA lenders for 2022

To choose the top VA mortgage lenders, we looked at three main factors:

  • Affordability/credit score. VA loans are known for being an affordable option, with no down payment for qualifying borrowers. They also usually have more lenient credit score requirements than conventional mortgages. We chose lenders that accept low credit scores or are flexible about credit scores if other parts of your financial profile are strong. Many of the companies on our list also accept alternative forms of credit in place of a credit score.
  • Customer satisfaction. If the lender appeared in the J.D. Power 2021 Primary Mortgage Origination Satisfaction Survey, we looked at its ranking. If it wasn’t in the survey, we read online customer reviews.
  • Ethics. All of our top picks received an A+ from the Better Business Bureau, which measures companies’ trustworthiness.

Are these lenders trustworthy?

To compare each VA lender’s trustworthiness, we’ve examined grades from the Better Business Bureau.

The BBB grades businesses based on responses to customer complaints, transparency about business practices, and honesty in advertising. Here are the scores for our top picks:

Lender BBB grade

 

A+

Carrington

 

A+

Fairway

 

A+

Movement

 

A+

Navy Federal Credit Union

 

NR

NBKC Bank

 

A+

Quicken Loans

 

A+

US Bank

 

A+

USAA

 

A+

Veterans United Home Loans

 

A+

All of the lenders on our list have an A+ rating from the BBB, with the exception of Navy Federal. Navy Federal has an NR (“No Rating”) because the BBB says it is responding to unresolved customer complaints.

A strong BBB grade doesn’t guarantee you’ll have a smooth relationship with a lender, though. You still may want to read online reviews or ask friends and family about their experiences with companies.

You might also consider recent scandals when making your decision. Despite their good BBB scores, some of the lenders on our list have undergone public controversies in the last few years:

  • In 2019, the US Justice Department required Rocket Mortgage’s parent company Quicken Loans to pay $32.5 million for alleged mortgage fraud. The Justice Department claimed Quicken Loans approved mortgage applications it shouldn’t have. Although Quicken Loans paid the settlement, the company never admitted to mortgage fraud.
  • Navy Federal employee has claimed the lender pressured mortgage underwriters to approve loans even if they didn’t have sufficient reason to believe applicants could repay the loans. Then she filed a lawsuit and said Navy Federal retaliated against her whistleblowing by changing her job duties. She dropped the case in late 2020.
  • In 2020, the Department of Justice charged Bank of America for unfairly denying home loans to adults with disabilities, even though they qualified for loans. Bank of America paid around $300,000 total to people who were refused loans. In 2019, the Department of Labor required Bank of America to pay $4.2 million to people who claimed the bank discriminated against women, Black, and Hispanic applicants in the hiring process.
  • In 2019, USAA paid $12 million to customers after the Consumer Financial Protection Bureau said the bank didn’t stop automatic payments when customers requested.

Frequently asked questions


Who is the No. 1 VA lender?

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In terms of total loan volume and number of loans originated, Veterans United is currently the top VA lender in the country, but this changes fairly frequently. In 2021, Freedom Mortgage was the No. 1 originator of VA loans.


What is the best place to get a VA loan?

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The best VA lender is the one that accepts your credit score, offers a low rate, and charges relatively low fees.

Once you’ve narrowed down your options, consider applying for preapproval with your top few choices. Each preapproval letter will explain how much you can borrow and how much you’ll pay. This makes it easy to compare lenders and find the best deal.


How do I qualify for a VA mortgage?

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You must be associated with the military to receive a VA loan, but there are a few restrictions. You may be eligible if you meet one of the following criteria:

  • You’re an active-duty member.
  • You’re a wartime veteran who has served at least 90 days in active duty, OR a peacetime veteran who has served at least 180 days in active duty, OR a member of the National Guard or Reserves who has served for at least six years.
  • You’re a spouse of a military member who died in active duty or in another military-related incident.
  • You’re a spouse of a prisoner of war or military member who is missing in action.

You don’t necessarily need to have your Certificate of Eligibility in hand when you apply. The lender should be able to look up your COE electronically to check whether you’ve served enough time to qualify.

You also must meet a couple of criteria for your finances and property:

  • Have the minimum credit score, debt-to-income ratio, and income required by the private lender. Each lender sets its own requirements.
  • Your property must meet VA loan guidelines. It should be your primary residence and meet certain safety standards.

Can I be denied a VA mortgage?

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If you meet all the usual qualifications to get a VA mortgage, there’s still a chance your application could be denied. The main reason this would happen is if something changed during the application process.

For example, maybe you’re preapproved, but your credit score drastically drops before you make an offer. Or you change jobs and don’t tell the lender. Then the company might deny you a mortgage.


What are the interest rates on VA mortgages?

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Interest rates vary by lender, but VA mortgage rates tend to be lower than conventional mortgage rates.

Mortgage rates by state

Check the latest rates in your state at the links below.

Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming