The listings featured on this site are from companies from which this site receives compensation.
Adv Disclosure
This site is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time. "Terms of Use"
Close
Best Mortgage VA Loans May 2024
Lock in your low rate today
Veterans Affairs (VA) home loans are one way the United States gives back to veterans and their families. You can qualify for lower rates and 0% down payment, bringing you one step closer to the home of your dreams.
Best Mortgage VA Loans May 2024
Veterans Affairs (VA) home loans are one way the United States gives back to veterans and their families. You can qualify for lower rates and 0% down payment, bringing you one step closer to the home of your dreams.
Best Mortgage Lenders in Virginia in 2024
Updated May 2024
Quick Approval
Low Rates
100% Online Application
9.5
Scores are calculated based on:
Consumer Reviews
Sourced from TrustPilot
4.7
Brand Reputation
Based on Semrush's web analytics
4.8
9.5
Scores are calculated based on:
Consumer Reviews
Sourced from TrustPilot
4.7
Brand Reputation
Based on Semrush's web analytics
4.8
  • Own a home with just 1% down
  • Personalized lender guidance for $0
  • First-time home buyer programs
Get VA rates from multiple providers
9.7
Scores are calculated based on:
Consumer Reviews
Sourced from TrustPilot
4.7
Brand Reputation
Based on Semrush's web analytics
5.0
9.7
Scores are calculated based on:
Consumer Reviews
Sourced from TrustPilot
4.7
Brand Reputation
Based on Semrush's web analytics
5.0
  • Easily syncs with your bank
  • Award-winning customer service
  • Phone, email, & live chat support
Easily view live VA rates
9.0
Scores are calculated based on:
Consumer Reviews
Sourced from TrustPilot
4.3
Brand Reputation
Based on Semrush's web analytics
4.7
9.0
Scores are calculated based on:
Consumer Reviews
Sourced from TrustPilot
4.3
Brand Reputation
Based on Semrush's web analytics
4.7
  • Lower interest rates
  • No down payment required
  • Variety of VA loan options
Ability to finance the VA funding fee
VA Loan FAQs
Looking to purchase a home or refinance an existing mortgage using a VA loan? You've come to the right place! In addition to our comparison table and in-depth lender reviews, we answer some of the most commonly asked questions about VA loans.
What is a VA loan?
A VA loan is a type of mortgage loan issued by private lenders and partially guaranteed, by the government's Department of Veterans Affairs (VA). This government-backed guarantee provides several benefits to active military personnel as well as eligible veterans and spouses. VA loans can be used to purchase a primary residence or to refinance an existing mortgage.
Who is eligible for a VA loan?
VA loans are available for the following individuals:

- Current members of the military or National Guard.
- Veterans who've served in the military or National Guard for 90 consecutive days during wartime.
- Veterans who've served in the military or National Guard for 181 consecutive days during peacetime.
- Veterans who've been discharged or released for a service-connected disability.
- Spouses of military or National Guard personnel who died in the line of duty.

In addition to meeting one of the above qualifications, you must still qualify for a VA loan with the individual lender and this means meeting their requirements for credit score and income. To better understand if you qualify, it's best to reach out to an approved VA lender directly.
What are the advantages of a VA loan?
There are two main advantages to a VA loan: They allow for 0% down payments and don't require mortgage insurance.

For many prospective homeowners, the idea of swapping monthly rent payments for monthly mortgage payments is rather enticing as the money isn't simply 'wasted' on rent. However, not everyone is able to gather the 10%-30% which is usually required to purchase a home. This is often the biggest obstacle for homeowners and VA loans are here to help you overcome the financial burden of a down payment.

Secondly, mortgage insurance can easily add up to hundreds of dollars every month but because the loan is guaranteed by the government, you aren't required to pay for mortgage insurance.
What do I need to provide to apply for a VA mortgage?
When applying for a VA loan, you'll need to fill out some basic information on the mortgage company's website. This includes information about your military experience, information about the type of home you plan on purchasing, and some details about your current financial situation. The entire application process can be done online and often takes about 5 minutes to complete.
Can I refinance using a VA loan?
Yes! You can absolutely use a VA loan to refinance a mortgage and often this can save you $100's every month.
When you initially applied and received your mortgage it may have been before you were eligible for a VA loan. If you or your spouse has served in the military after signing your mortgage, refinancing with a VA loan can not only save you money by lowering your APR, it can also help you save by removing your monthly mortgage insurance payments.
Can I apply for a VA loan during Covid-19?
Although the Covid-19 pandemic has caused many difficulties, the crisis also offers an opportunity for borrowers to secure lower mortgage rates online. Mortgage interest rates have fallen since March 2020, making this an ideal time to apply for a mortgage. This is especially true for VA loans which already offer low rates to borrowers.

Most lenders will clearly display instructions for applying during the current crisis and some have taken steps to make the process even easier online.
Back To Top