7 Best VA Loan Lenders of 2025

There are many mortgage programs you can choose from when buying a house. But military members and veterans? They have access to an option that civilians don’t: The VA loan.

VA loans are mortgages guaranteed by the U.S. Department of Veterans Affairs and are available only to military members, veterans and their spouses. These loans have low interest rates, require no down payment and have significant benefits that other loan programs don’t provide.

Are you considering a VA mortgage for your home purchase or refinance? Here’s what to know about these loans and the best lenders who offer them:

What to know about VA loans:

• VA loans are only for eligible U.S. military service members, veterans and their spouses.
• You or your spouse must meet specific military service requirements to qualify for a VA loan. The length of your service requirement varies based on when you or your spouse served in the armed forces.
• VA loans tend to have lower interest rates than other loan options and don’t require a down payment.
• Not all mortgage companies offer VA loans. Only approved lenders can issue these mortgages.
• VA loans don’t require mortgage insurance. Borrowers may need to pay a VA funding fee, though.

How we chose our top picks

Money reviewed three dozen VA mortgage lenders throughout the U.S., using government data, lender websites and lender representatives to confirm data accuracy. We then used factors such as product variety, average interest rates, reputation, loan terms, credit score requirements and geographic availability to score each lender on a one-to-five scale. What you see below are the top companies that emerged.

Read our full methodology to learn more about our approach.

Our top picks for the best VA loan lenders of 2025

• loanDepot: Best Overall
• Rocket Mortgage: Best for Refinancing
• Pennymac: Best Online Lender
• CrossCountry Mortgage: Best for Building or Repairing a Home
• PenFed: Best Credit Union
• Veterans United: Best for Customer Service
• New American Funding: Best for Low Credit Borrowers

Best VA loan lenders company reviews

Why we chose it: loanDepot takes the crown as our top-rated VA mortgage lender, boasting a 4.4 score out of 5. The company offers a wide range of VA loan options, a variety of terms and low average interest rates, according to government data. It also serves all 50 states and has a minimum credit score requirement of just 520 — among the lowest on our list.

Why we chose it: Whether you need to reduce your interest rate or take cash out of your home equity, Rocket Mortgage’s VA refinancing options can help you do it. The company also boasts a wide range of loan terms, low average interest rates and a mere 580 credit score minimum. Rocket Mortgage had the second-highest score of all the VA lenders we analyzed.

Why we chose it: If you’re looking for a quick and easy online VA loan experience, PennyMac can help. The online lender offers both refinancing and purchase options, and offers competitive interest rates on both products. Its credit score minimum is pretty low, too.

Why we chose it: VA renovation and construction loans aren’t offered by most lenders, but CrossCountry Mortgage boasts both. Use one to renovate your existing house, buy a fixer-upper and roll the repair costs into a single loan, or build your dream home from the ground up. The lender’s ultra-low credit score requirements and many loan terms are icing on the cake.

Why we chose it: Credit unions are known for having low rates — and PenFed is no different. PenFed offered some of the the lowest average interest rates throughout our evaluation period, with APRs starting in the low 6% range. PenFed also serves all 50 states and doesn’t require membership when apply for a loan, although you will have to become a member before closing on the loan. Anyone can join PenFed by opening a savings account with an initial deposit of $5.

Why we chose it: You won’t find a more experienced lender in the VA loan space than Veterans United. The niche lender specializes in serving military members, and its strong reviews and spotless regulatory history speak to its commitment to that cause. According to government data, Veterans United was the No. 1 VA lender by volume for the last three years running, issuing nearly 60,000 loans and $17 million in financing in 2024 alone.

Why we chose it: The VA doesn’t have hard credit score requirements for its loans, but individual lenders can set their own thresholds. And New American Funding? They’ve set theirs low. The lender allows for credit scores as low as 500, and there are even options for borrowers with no credit. NAF is known for great service, too, boasting a 4.8 rating on Trustpilot and a 4.9 on Zillow.

Other companies we considered

USAA

USAA is a big name in the military world, and it does offer a wide variety of loan options for VA borrowers. It also offers other financial services for military members, including insurance, credit cards and banking options, which make it a good choice if you're looking for a one-stop shop.

Why we didn't chose it: It’s not transparent about its credit score minimums and loan term options, though, and its 1.2-star rating on Trustpilot leaves a lot to be desired. A whopping 88% of customers give their experience just one star on the site.

Navy Federal

Navy Federal is the third-biggest VA lender in the nation, and it offers low rates and a large range of loan options, including the “Military Choice” loan, which veterans who have already exhausted their VA entitlement can use to buy a home.

Why we didn't choose it: The lender has an F rating with the Better Business Bureau, indicating it’s not great at handling customer complaints or feedback.

Mutual of Omaha

Mutual of Omaha scored pretty high on our overall ratings scale, and its loan variety, super-low credit score requirements, competitive interest rates and wide array of term options are all notable.

Why we didn't choose it: The major issue with this lender comes down to regulatory actions. Mutual of Omaha has four in just the last five years.

What you need to know about VA loans

VA loans are similar to other mortgage loans, with a few key exceptions. Here’s what you need to know if you’re considering a VA loan purchase or refinance a home:

What is a VA loan?

A VA loan is a type of mortgage that is guaranteed by the U.S. Department of Veterans Affairs. This means that if you default on your loan (you fail to make payments), the VA will repay the lender for a portion of its losses.

The VA also sets the basic qualifying requirements for these loans, though the department doesn’t actually provide them. Instead, private, VA-approved mortgage lenders — like those named in this list — issue them directly to consumers. For this reason, rates and terms can vary depending on which company you apply with.

Who qualifies for a VA loan?

VA loans are a benefit that only military members and veterans, as well as some qualifying spouses, can enjoy. To be eligible for one, you must not only have a military service record, but you must have served a certain amount of time. For current service members, it’s at least 90 continuous days. For veterans, it depends on when you served. The following are the most recent VA service requirements.

Some National Guard and Reserve members are also eligible for VA loans. You typically need at least 90 days of non-training, active-duty service or at least six creditable years in the Reserves or Guard.

What costs are associated with a VA loan?

VA loans come with closing costs like any other loan, and you’ll generally pay somewhere between 3% to 5% of your loan amount, depending on your lender.

One fee that is unique to VA loans is the VA funding fee, which goes toward keeping the VA loan program afloat. The cost of this fee ranges from 0.5% to 3.3% of the loan amount, depending on how you’re using the loan, how many times you’ve used the VA loan benefit, and the down payment you’re making.

VA loans also allow the seller to contribute to your closing costs — up to a maximum of 4% of the purchase price. This can help significantly reduce the upfront costs of a VA loan.

Types of VA loans available

There are several types of VA loans you can use, depending on your goals.

These include:

• VA purchase loans: These are VA loans you can use to buy a home. You do not need a down payment.
• VA IRRRLs: Short for Interest Rate Reduction Refinance Loans, these are the VA loans you’d use to refinance your mortgage and reduce your interest rate. You can also use them to move from an adjustable interest rate to a fixed one or to lower your monthly payment. You must already have a VA loan to qualify.
• VA cash-out refinances: VA cash-out refinances let you take out a loan that’s larger than your current one and keep the difference in cash.
• Jumbo VA loans: These are loans that go above the conforming loan limit. You might use this if you’re buying a larger house or a property in a particularly pricy housing market.
• VA renovation loans: A VA renovation loan is an option if you want to buy a home that needs repairs or safety updates, or you need to fix up your existing home. With the former, you’d roll both the repair costs and the home’s purchase price into one single loan.
• VA construction loans: This is the VA loan you’d use if you wanted to build a home from the ground up. These can come with one or two closings, depending on your lender, and aren’t widely offered.
• Energy-efficient loans: There isn’t an official VA loan, but some lenders offer them for financing energy-efficient upgrades to your home. (Our top pick, loanDepot, is one such example).

Loan options can vary quite a bit from one mortgage company to the next, and ot all VA-approved lenders will offer all of these. Be sure to shop around if you’re looking for a specific type of VA loan.

What to look for in a VA lender

There are many VA-approved mortgage lenders, but no two are exactly the same. To make sure you’re getting the best one for your budget and needs, you should consider:

• Available loan options, as these vary widely between companies
• Company Reputation, including customer reviews, lawsuits, regulatory actions and online ratings
• Loan Terms and interest rates, including whether the rates are fixed or adjustable
• Loan qualification requirements, such as credit score minimums and DTI thresholds
• Geographic footprint, as not all lenders serve all 50 states

Make sure to compare loan estimates from each lender you consider, too. These will give you insights as to how each one’s fees and closing costs compare. You can also ask each lender about any incentives they might offer, such as mortgage rate buydowns.

The pros and cons of a VA loan

Alternatives to VA loans

Even if you are a veteran or military member, VA loans aren’t the only loan option you have at your disposal. You can also consider:

• Conventional loans: Conventional loans are an option if you have a decent credit score. They allow for down payments as long as 3%, though you will need to pay for private mortgage insurance if your down payment is less than 20%. However, you will need a good to excellent credit score to qualify for the best rates.

• FHA loans: FHA loans have low interest rates and allow for down payments as low as 3.5%. You need at least a 500 to 580 credit score, depending on your down payment and lender. FHA loans require a mortgage insurance premium, which is partly paid upfront, with the another portion included in your monthly mortgage payment.

• USDA loans: USDA loans are an option if the home you’re buying is in an eligible rural or suburban part of the U.S. You will also need to fall under a certain income threshold for your county. These loans have no minimum credit scores (at least one set by the USDA), and no down payment is required.

If you’re not sure what the best loan is for your home purchase or refinance, talk to a loan officer or mortgage broker. They can walk you through your options.

2025 VA loan outlook

For 2025, most traditional VA loans are limited to $806,500 for a single-unit property. Anything beyond that is considered a “jumbo” VA loan, as it exceeds the Federal Housing Finance Agency’s conforming loan limits.

We can likely expect those limits to increase in the coming year. In 2025, they jumped 5.2% over 2024, and about 5.5% between 2023 and 2024. Though the exact increase depends on home price trends, a similar jump next year would put the limits somewhere around $850,000 for 2026.

There have been other changes to VA loan benefits this year as well. Perhaps the most important is the decision to end the Veterans Affairs Servicing Purchase program, which was designed to help veterans in financial distress avoid foreclosure.

The program came to an end on May 1, although homeowners who enrolled in the program prior to that date will still receive assistance. Any veteran not already enrolled in the program who is at risk of losing their home should contact the VA to determine their available options.

Methodology

We evaluated three dozen VA mortgage lenders nationwide, gathering data on product terms, qualifying requirements, interest rates, availability, reputation and other factors to zero in on the best ones. Lenders were rated on a one-to-five scale based on six categories: product variety (20%), average interest rates (20%), reputation and regulatory issues (20%), credit score minimums (20%), term options (10%) and geographic availability (10%)

We prioritized companies that:

• Have strong customer ratings and no regulatory actions listed in the Nationwide Mortgage Licensing System in the last five years.
• Offered low average interest rates as measured from Home Mortgage Disclosure Act data for VA mortgages issued in 2023 — the most recent data available.
• Have low credit score minimums and wide geographic availability, allowing more borrowers access to their products.
• Offer a wide variety of VA mortgage products, including purchase loans, cash-out refinances, jumbo loans and construction/renovation loans.

Summary of our top picks for the best VA loan lenders of 2025

• loanDepot: Best Overall
• Rocket Mortgage: Best for Refinancing
• Pennymac: Best Online Lender
• CrossCountry Mortgage: Best for Building or Repairing a Home
• PenFed: Best Credit Union
• Veterans United: Best for Customer Service
• New American Funding: Best for Low Credit Borrowers