It was a mixed bag for home affordability in early 2024. See the income you need to buy a median-priced home in the top 50 metro areas for details.

It was a mixed bag for home affordability in early 2024. See the income you need to buy a median-priced home in the top 50 metro areas for details.

Rocket Mortgage vs. Veterans United:
Which One Is Best?

Lashay Lewis | Jul 12, 2023

Rocket Mortgage and Veterans United are the largest VA lenders that offer an-easy to use online application process. But when it comes to choosing the best VA mortgage lender, there's so much more to consider than just a smooth loan process. You'll want to ensure that the lender has a variety of mortgage products, exceptional customer support, and offers competitive rates. In this review, we'll take a closer look at Rocket Mortgage and Veterans United Home Loans to see how they stack up in all these areas to help you decide which lender is your best fit.

Rocket Mortgage vs. Veterans United Home Loans

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LENDER Rocket Mortgage Veterans United
[ 4.7 / 5 ]
[ 4.7 / 5 ]
  • Fixed-rate VA purchase loans
  • Adjustable-rate VA loans
  • VA jumbo loans
  • VA streamline refinance loans
  • VA cash-out refinances
  • Conventional loans
  • Jumbo loans up to $2.5 million
  • Cash-out refinances
  • FHA loans
  • YOURgage custom term loan
  • Home equity loans
  • Fixed-rate VA purchase loans
  • VA jumbo loans
  • VA streamline refinance loans
  • VA cash-out refinances
  • VA energy-efficient mortgages
  • Conventional loans
  • FHA loans
  • USDA loans
  • Conventional loans: 3%
  • FHA loans: 3.5%
  • VA loans: 0%
  • Jumbo loans: 10.01%
  • Conventional loans: 3%
  • FHA loans: 3.5%
  • VA and USDA loans: 0%
  • VA Jumbo loans: 0% for borrowers with full entitlement; 20% without
  • Conventional loans: 620
  • FHA and VA loans: 580
  • Jumbo loans: 680
  • Conventional loans: 620
  • VA loans, including VA Jumbo: 620
  • FHA loans: 580
  • USDA loans: 640
AVERAGE TIME TO CLOSING 30-45 days 45-50 days
  • Completely online and mobile-friendly loan application process
  • Flexible loan terms with YOURgage program
  • Lower minimum credit score requirement of 580 for VA loan
  • Award-winning customer service
  • Offers both an online and in-person loan application process
  • Free credit counseling through its Lighthouse program
  • Robust educational resources and tools on VA loans
  • No physical locations for in-person services
  • No USDA loans or HELOCs
  • Personalized mortgage rates require a hard credit inquiry
  • Operates only 25 physical branches in a few states
  • No adjustable rate mortgages, home equity loans, or home equity lines of credit (HELOCs)
  • Limited information about its non-VA loans and offers them through a lending partner
Years in Business 38 21

Rocket Mortgage vs. Veterans United: An In-Depth Lender Comparison

In this section, we’ll give you a comprehensive overview of how Rocket Mortgage and Veterans United compare in terms of loan types, loan process, and customer support. By analyzing these key factors, we'll help you determine which lender meets your mortgage loan needs.


Company Overview

Rocket Mortgage

Headquartered in Detroit Michigan, Rocket Mortgage is now the largest mortgage lender in the country. In 2022, the lender originated over 464,000 loans worth $127.58 billion.

Formerly known as Quicken Loans, the company changed its name to Rocket Mortgage LLC in July 2021 to better reflect its core business, which looks to simplify home financing using innovative technology.

Rocket Mortgage is renowned for its fast and easy completely digital mortgage application process. With its competitive mortgage rates, award-winning customer service, and innovative loan programs, Rocket Mortgage continues to be a top choice for borrowers across the country.

Veterans United Home Loans

Veterans United is the largest VA lender in the United States, originating $26.5 billion in VA loans in 2022. Based in Columbia, Missouri, the lender is licensed to do business nationwide but only operates 25 physical branches.

Veterans United has robust resources on VA loans, including detailed eligibility requirements. The lender also offers free credit counseling through its Lighthouse program for borrowers with low credit scores. Since its founding in 2002, Veterans United has closed over 500,000 VA loans. The company also offers conventional, FHA, and USDA loans through its sister company, Paddio.

Its network of real estate agents (Veterans United Realty) and loan officers are specially trained to understand the needs and challenges of military service members. They provide excellent customer service and support to military members and qualifying family members throughout the homebuying process.


Loan Process

Rocket Mortgage

To begin your loan process with Rocket Mortgage, simply visit their website or use their mobile app and indicate whether you're purchasing a home or refinancing. Create an account by providing basic information such as your name, email and password, and confirm your account through email.

To proceed to a pre-approval, you’ll need to provide your social security number and answer a series of questions regarding your homebuying goals, assets, and other personal information. Based on your answers and credit data, the platform will show you various loan options. You can customize your loan by adjusting the loan term or interest rate.

One of the unique features of Rocket Mortgage is its ability to automatically retrieve your financial information from various financial institutions, including assets and investment account statements. Additionally, it can import your income and employment information if you're currently employed. However, additional documentation such as tax returns and a list of assets and debts may still be required.

The system will then automatically underwrite your loan and provide an approval letter. At this point, you can lock your interest rate for up to 90 days with Rocket’s RateShield program without a purchase agreement, giving you time to find your ideal home.

When you've found the home you want and made an offer, you can complete the full loan application process. Check the provided "to-do list" to submit or e-sign your documents. You can track the loan process, schedule your closing date and manage your mortgage payments through their online dashboard, making it a well-designed, streamlined, and user-friendly mortgage application process.

Veterans United Home Loans

Veterans United offers both an online and in-person loan application process. To start working with Veterans United, call them directly, visit a nearby physical branch, or go to their website. The lender has a limited branch network but their digital application process is smooth, backed by 24/7 customer service.

For online pre-qualification, visit Veterans United’s website and click on "get pre-approved". You’ll be prompted to answer questions regarding your military experience, home price, credit score range, and other personal information. Alternatively, you can speak directly to a loan officer to start your pre-qualification.

Once pre-qualified, you can begin the pre-approval process and get an online account through "My Veterans United" portal. The platform allows you to upload documents, e-sign them and track your loan.

During pre-approval, you will need to provide a government-issued ID, DD 214 (for veterans), a statement of service (if you're on active duty), paystubs, two years of W-2s, a recent bank statement, and disability award letters. You’ll also need a certificate of eligibility (COE) to help verify your service history.

Once you’ve found your home and placed it under a purchase contract, you'll be assigned tasks to complete in your Veterans United portal. An underwriter will perform a final inspection of your documents and guide you through closing. Veterans United accepts an electronic power of attorney for service members who can't attend the closing.


Loan Types

Rocket Mortgage

Rocket Mortgage provides a comprehensive range of purchase and refinance loan options including fixed-rate mortgages with 30-year or 15-year terms. Similarly, the lender offers adjustable-rate mortgages (ARMs) that have a fixed rate for either 7 or 10 years before the rate adjusts every six months.

Government-backed loans such as FHA and VA loans are also available excluding USDA loans. For borrowers looking for mortgages above the conforming loan limits, Rocket Mortgage offers jumbo loans of up to $2.5 million. Additionally, the lender has home equity loans that allow homeowners to leverage their equity.

If you are looking to personalize your loan term to match your financial objectives and budget, Rocket Mortgage provides YOURgage mortgage that allows you to choose a loan term ranging from 8 to 29 years.

The lender features first-time homebuyer assistance programs like their Purchase Plus program which provides up to $7,500 in lender credits for first-time home buyers in underserved communities. They also offer the BorrowSmart Access program, providing a $3,000 credit for first-time homebuyers to use towards a down payment.

Veterans United Home Loans

Veterans United specializes in U.S. Department of Veterans Affairs-backed home purchase and refinancing loans. VA loans waive the need for a down payment and private mortgage insurance (PMI), but require a VA funding fee.

For purchase loans, the lender originates 20-year and 30-year fixed-rate VA loans. To check on the current mortgage rates for these loan products head to the VA loan rates page on the lender’s website. The mortgage lender also offers a 30-year fixed-rate VA jumbo loan.

For veterans looking to refinance, Veterans United Home Loans offers a VA interest rate reduction refinance loan (IRRRL) and a cash-out refinance. A VA IRRRL (streamline refinance) requires less paperwork since no credit underwriting, income verification, or appraisal are required in most cases.

Through the energy-efficient mortgage, veterans and qualifying family members can borrow an additional $6,000 for energy-efficient upgrades. While you won’t find information on non-VA loans on Veterans United’s website, the lender originates conventional, FHA, and USDA loans through a lending partner.


Customer Support

Rocket Mortgage

Rocket Mortgage has been recognized for its exceptional customer service, ranking first in client satisfaction for primary mortgage origination in the United States by J.D. Power for 12 consecutive years.

They offer 24/7 customer support through online chat, email, and phone. Additionally, Rocket Mortgage's website provides an extensive knowledge base and resource center to help borrowers navigate the mortgage process.

Veterans United Home Loans

As a leading VA home loan lender, Veterans United offers a full self-service online platform and 24/7 customer service phone lines. The website features tools like Check Your Eligibility and mortgage calculators to help you prepare for the home buying process.

Similar to Rocket Mortgage, Veterans United has an A+ rating with the Better Business Bureau. The lender also provides a VA home buying course, a glossary, and a VA loan book to help military buyers navigate the homeownership journey.



Both Rocket Mortgage and Veterans United are leading VA lenders with a user-friendly online application process and 24/7 customer service. However, the choice between the two ultimately depends on your individual mortgage needs and preferences.

If you prioritize the convenience of a completely online application process with a wide variety of loan options, then Rocket Mortgage may be the best choice for you. On the other hand, if you're a veteran or qualifying family member looking for a VA loan, Veterans United Home Loans stands out for its specialization in VA loans.

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