Homeownership is a dream come true for many Americans. With the recent surge in demand for affordable housing options, more and more individuals are turning to VA home loans to finance their purchases.
VA Home Loans: An Overview
Before diving into the top ranking companies, let’s first understand what VA home loans are and how they work. VA home loans are government-backed mortgage programs that provide eligible veterans, active-duty service members, and their families with the opportunity to purchase a home with no down payment or private mortgage insurance (PMI). This is because the Department of Veterans Affairs (VA) guarantees a portion of the loan amount, which reduces the lender’s risk and makes it possible for veterans to secure financing with little or no money down.
In order to be eligible for a VA home loan, individuals must meet certain requirements, such as having served at least 90 consecutive days of active service or having six years of service in the National Guard. Additionally, borrowers must demonstrate that they have a stable income and can afford the mortgage payments.
Top Ranking Companies in the VA Home Loans Industry
Now that we have a better understanding of VA home loans, let’s take a look at the top ranking companies in the industry.
1. Veterans United Home Loans
Veterans United Home Loans is one of the largest and most respected VA home loan providers in the country. The company was founded in 2004 by Nate Quigley, a veteran himself, and has since helped thousands of veterans and their families purchase homes through its innovative lending processes and exceptional customer service.
One of the things that sets Veterans United Home Loans apart from other VA home loan providers is its commitment to educating borrowers about the home buying process. The company offers a wide range of resources, including educational guides, video tutorials, and personalized counseling, to help veterans and their families make informed decisions about their mortgage options.
Another key advantage of working with Veterans United Home Loans is its speedy loan processing times. The company prides itself on closing loans in as little as 30 days, which is significantly faster than the industry average. This allows veterans to get into their dream homes sooner and start enjoying the benefits of homeownership.
2. VA Home Loan Center
VA Home Loan Center is another top-rated VA home loan provider that has been helping veterans and their families purchase homes for over a decade. The company offers a wide range of mortgage products, including conventional loans, FHA loans, and VA home loans, to help borrowers find the perfect financing solution for their needs.
One of the things that sets VA Home Loan Center apart from other providers is its dedication to providing exceptional customer service. The company has a team of experienced loan officers who are available 24/7 to answer questions and provide guidance to borrowers throughout the home buying process. Additionally, VA Home Loan Center offers a variety of online resources, including mortgage calculators, educational guides, and FAQs, to help borrowers make informed decisions about their mortgage options.
3. The Home Depot VA Loans
The Home Depot VA Loans is a relatively new entrant into the VA home loan industry, having launched in 2019. However, the company has quickly established itself as a top provider of VA home loans due to its innovative lending processes and commitment to helping veterans and their families achieve the dream of homeownership.