Properly, one other yr is within the books on the VA, and like prior years, Veterans United topped the record because the #1 VA mortgage lender in America.

This marked their third yr as the highest VA mortgage lender, beating out United Wholesale Mortgage (UWM) for the highest spot this time round.

They’ve now taken the highest spot in 2024, 2023, and 2022, and as in previous years by a big margin.

The Columbia, Missouri-based mortgage firm funded practically 62,000 loans totaling over $19 billion in the course of the yr.

That was greater than sufficient to beat out UWM, which solely mustered about $15.6B. Learn on to see the others within the prime ten.

Prime VA Mortgage Lenders in 2024

As famous, Veterans United Home Loans was the largest VA mortgage lender final yr, per new Lender Statistics from the Department of Veteran Affairs.

The corporate funded $19.3 billion in VA loans, together with over $17 billion in residence buy loans.

Spectacular given 2024 was one other powerful yr for residence patrons given the mixture of elevated mortgage rates and nonetheless rising residence costs.

That didn’t appear to decelerate the corporate, which noticed its total manufacturing rise from $17.7 billion a yr earlier.

The remainder of their manufacturing was pushed largely by streamline refinances, particularly the Curiosity Charge Discount Refinancing Mortgage (IRRRL).

Additionally they did about $540 million in cash out refinance loans for veterans and lively obligation army householders.

In different phrases, practically 90% of their manufacturing comes from residence buy lending, and just about all their loans are backed by the VA. Although they do are inclined to do a tiny quantity of conventional lending and FHA loans.

Taking the second spot in 2024 was Pontiac, Michigan-based UWM, which occurs to be the #1 mortgage lender total throughout all mortgage varieties.

However there was nonetheless a big hole between them, with UWM solely funding $15.6 billion in VA loans final yr.

Nevertheless, UWM beat out Veterans United within the refinancing classes, so it’s actually the house purchaser section that they should work on.

Taking third place was Rocket Mortgage with a a lot smaller $8 billion, pushed largely by refinance loans, together with over $4 billion in VA money out loans.

Rocket has historically captured extra refinance enterprise than buy lending enterprise in all classes.

Rounding out the highest 5 had been Freedom Mortgage with $6.6 billion and Navy Federal Credit score Union with $5.9 billion.

Others within the prime 10 included DHI Mortgage, the mortgage division of prime residence builder D.R. Horton, together with Village Capital, Pennymac, CrossCountry Mortgage, and loanDepot.

Prime VA Buy Mortgage Lenders

If we break it down by residence buy loans, Veterans United was nonetheless #1, and by an excellent wider margin as a result of that’s just about all they deal with.

The corporate funded a staggering $17 billion, with second place UWM not even shut at $8.9 billion.

Navy Federal got here in third with $5.5 billion, and unsurprisingly, DHI Mortgage grabbed the fourth spot with $4.3 billion.

A lot of the top home builders have their own captive lenders, and recently they’ve been providing huge mortgage rate buydowns to assist extra residence patrons qualify.

This has helped firms like DHI Mortgage develop their mortgage manufacturing and beat out unbiased mortgage lenders, who usually can’t compete.

Rocket nonetheless managed to snag the fifth spot, albeit with slightly below $3 billion in VA buy loans.

The remainder of the highest 10 included CrossCountry Mortgage, USAA, Fairway Unbiased Mortgage, Freedom Mortgage, and Lennar Mortgage.

USAA is a financial institution that primarily serves army members and their households, whereas Lennar Mortgage is the financing arm of residence builder Lennar. So no actual surprises right here.

Prime VA Refinance Lenders (Streamline)

After we flip our consideration to refinance loans, prime lender total UWM was in a position to seize the lead within the class with practically $4 billion funded.

The VA presents a streamline refinance that requires little or no by way of documentation to acquire a decrease rate of interest and/or new mortgage time period

And UWM, which is powered by unbiased mortgage brokers, led the best way.

In second was Freedom Mortgage with $2.4 billion, one of many prime correspondent lenders in each the VA and FHA house.

They had been adopted by Village Capital with $2.3 billion, which is fully targeted on streamline refis, together with FHA streamlines as properly.

Fourth went to Veterans United and fifth went to Pennymac, which was shaped by ex-Countrywide workers about 15 years in the past.

Different huge names included Rocket, Planet Residence Lending, Lakeview Mortgage Servicing, Newrez, and Mortgage Options Monetary.

Prime VA Refinance Lenders (Money Out)

The ultimate class is VA money out loans, and that is Rocket Mortgage’s bread and butter, with over $4 billion funded. That represented half of their whole VA manufacturing.

In second was UWM with $2.7 billion, adopted by Freedom Mortgage with $1.9 billion.

New Day Monetary took fourth with $1.4 billion and Village Capital took fifth with $1.3 billion.

Others making the highest 10 included loanDepot, The Federal Financial savings Financial institution, Veterans United, Pennymac, and Carrington Mortgage.

Once more, no actual surprises, and solely actually huge names. And keep in mind, you don’t want to make use of one of many largest VA lenders to get a mortgage.

There are actually over 1,000 VA mortgage lenders within the nation, each huge and small, and every little thing in between.

Make sure to take the time to buy round amongst them, as a substitute of merely going with the largest title, which could cost you for the privilege.

Earlier than creating this website, I labored as an account govt for a wholesale mortgage lender in Los Angeles. My hands-on expertise within the early 2000s impressed me to start writing about mortgages 19 years in the past to assist potential (and present) residence patrons higher navigate the house mortgage course of. Comply with me on X for warm takes.

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