In this explainer

Zero down at both lenders, but only one asks you to join first. Veterans United takes any VA-eligible borrower, and Navy Federal lends to its members.

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Chapters

  1. 0:00 Zero down at both, but only one requires membership.
  2. 0:12 I. Who can use each
  3. 0:35 II. Side by side
  4. 1:02 III. The funding fee
  5. 1:22 IV. Where they can differ
  6. 1:37 V. Limits and scores
  7. 2:01 VI. Two zero-down paths

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Full transcript

I. Who can use each

The comparison describes Veterans United as the largest VA purchase lender by volume, with no membership gate. Navy Federal requires membership, open to active duty service members, veterans, Defense Department personnel and their families, and once you join, the page says membership is yours for life.

II. Side by side

Side by side, Veterans United is built around VA loans, with round-the-clock support online and by phone, and it keeps servicing on most of its VA loans. Navy Federal offers a full menu of member products, including a zero down member mortgage that is not a VA loan, and it has branches on or near bases. The full table is in the free comparison.

III. The funding fee

The VA funding fee does not change between them. It follows the VA's federal schedule: on a purchase with no down payment, two point one five percent of the loan on first use and three point three percent after that, and it is waived for borrowers with a service-connected disability rating.

IV. Where they can differ

What can differ is lender pricing: the interest rate, origination charges and discount points. The page says same-day Loan Estimates from both lenders are the only reliable comparison.

V. Limits and scores

The VA loan guide adds two numbers. With full entitlement there is no VA loan limit; with partial entitlement the limit is the county conforming limit, eight hundred thirty-two thousand seven hundred fifty dollars across most of the country. The VA sets no minimum credit score, and most lenders look for about five hundred eighty to six hundred twenty.

VI. Two zero-down paths

For members, that non-VA mortgage can preserve VA entitlement, so the page says to compare its total cost with a VA quote. The full comparison is free at Dreamy Leads Research. What state are you buying in, and what interest rate did your Loan Estimate show? Tell us in the comments.

Frequently Asked Questions

Sources