Best VA Mortgage Lenders of July 2025
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 2023.
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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.
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- 50+ mortgage lenders reviewed and rated by our team of experts.
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- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
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Why trust NerdWallet
- 50+ mortgage lenders reviewed and rated by our team of experts.
- 40+ years of combined experience covering mortgages and financial topics.
- Objective, comprehensive star rating system assessing 120+ categories and 5,000+ data points.
- Governed by NerdWallet's strict guidelines for editorial integrity.
Best VA Mortgage Lenders of July 2025
Lender | NerdWallet Rating | Min. down payment | National / regional | Learn more |
|---|---|---|---|---|
 Navy Federal: NMLS#399807 Compare More Lenders on NerdWallet | 0% | National | Compare More Lenders on NerdWallet | |
0% | National | |||
0% | National | Top 3 most visited 🏆 See Offers at Veterans United | ||
0% | National | See Offers at New American Funding | ||
 Pennymac: NMLS#35953 Compare More Lenders on NerdWallet | 0% | National | Compare More Lenders on NerdWallet |
Explore all of our lender picks by category
- Why we like itNavy Federal Credit Union stands out for having exceptionally low VA interest rates and fees.Pros
- Best-scoring VA lender for interest rates and fees.
- Offers VA refinancing.
- Specializes in working with military borrowers.
ConsRead full review- Does not offer VA renovation loans.
- Why we like itNBKC stands out for offering low VA rates and origination fees, as well as energy-efficient mortgages.Pros
- Interest rates and origination fees are on the lower side compared to other VA lenders.
- Offers energy-efficient mortgages.
- Offers VA refinancing.
ConsRead full review- Does not offer VA renovation loans.
- Why we like itVeterans United is the largest VA loan originator in the country by far, according to the latest federal data.Pros
- Specializes in working with military borrowers.
- Offers VA refinancing.
- Sample interest rates are posted online.
ConsRead full review- Interest rates are on the higher end compared to other VA lenders.
- Does not offer VA renovation loans.
- Why we like itGood for: First-time home buyers and other borrowers looking for a broad array of loan choices.Pros
- Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
- Its home equity line of credit can be used for an owner-occupied or second home.
- Offers a program to enable buyers to make cash offers.
ConsRead full review- Mortgage origination fees tend to be on the high end, according to the latest federal data.
- Why we like itPennymac stands out for having low interest rates and for offering a customizable rate tool on its website.Pros
- Rate estimates can be customized online.
- VA interest rates are on the lower end compared to other VA lenders.
- Offers VA refinancing.
ConsRead full review- Does not offer VA renovation loans.
- Origination fees are on the higher end compared to other VA lenders.
- Why we like itGood 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.
- You can view customized rates for purchasing a home and apply online.
ConsRead full review- Doesn't offer home equity lines of credit.
- Lender fees are on the high side, according to the latest federal data.
- Why we like itFlagstar offers a range of VA loans, including VA refinancing and VA renovation loans.Pros
- Offers VA refinancing.
- Offers VA renovation loans.
- Rate estimates can be customized online.
ConsRead full review- VA lending makes up a small part of Flagstar’s originations.
- Why we like itGood for: borrowers with low-to-moderate incomes or limited down payments. PNC Bank offers several low-down-payment loans, including one with no mortgage insurance.Pros
- Posts current mortgage rates on its website.
- Has an online application for mortgage preapproval and a digital tool to track application progress.
- Offers several affordable loan options, including FHA, VA, USDA and the PNC Community Loan.
ConsRead full review- In-person service is not available in every state.
- Why we like itPenFed offers VA refinancing and offers low interest rates for VA loans.Pros
- Offers VA refinancing.
- Interest rates are low compared to other VA lenders.
ConsRead full review- Does not offer VA renovation loans.
- Customer service score is on the lower end compared to other VA lenders.
- Why we like itUSAA is among the top five VA loan lenders by volume, though conventional loans are available, too.Pros
- Sample VA rates are posted online.
- Offers VA refinancing.
ConsRead full review- Lender received a low score for customer experience.
- Does not offer VA renovation loans.
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.
Special fees associated with VA loans
Borrowers are required to pay a “funding fee,” which could be compared to a one-time mortgage insurance payment since it protects the VA’s interest in case you default. This fee will amount to a certain percentage of your mortgage, which is calculated based on factors like your down payment and whether or not you’ve used your VA entitlement before.
Alternatives to VA loans
You may be denied a VA home loan if you don't meet the basic VA loan eligibility requirements or don't meet a lender's financial requirements. An FHA loan, insured by the Federal Housing Administration, might be an alternative if you have a lower credit score.
Some lenders may also have their own proprietary loan programs that fit the needs of service members. For example, Navy Federal Credit Union has a Military Choice Home Loan option for borrowers who have exhausted their VA loan benefit.
More from NerdWallet
Last updated on August 1, 2022
Frequently asked questions
The answer depends on your needs. Lenders vary by the types of loans and services they offer as well as their credit score minimums and other requirements for borrowers. The best mortgage lender is the one that offers the products you need, has requirements you can meet and charges the lowest mortgage rates and fees.
Some lenders post mortgage rates on their websites and include tools to see how much your rate might be. But those are just estimates. You'll need to get preapproved for a mortgage to get a rate offer based on your credit score and other financial information.
Closing costs are the various fees and expenses you pay to finalize the mortgage. Closing costs typically run between about 2% and 5% of the loan amount. That means on a $300,000 home loan, you could pay $6,000 to $15,000 in closing costs.
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 five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee 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.
NerdWallet's Best VA Mortgage Lenders of July 2025
- Navy Federal: Best for VA lending volume
- NBKC: Best for ease of application
- Veterans United: Best for VA lending volume
- New American Funding: Best for Digital convenience
- Pennymac: Best for VA lending volume
- Carrington: Best for VA refinancing
- Flagstar: Best for VA refinancing
- PNC Bank: Best for low VA origination fees
- PenFed: Best for low VA origination fees
- USAA: Best for customer satisfaction
