{"id":3852,"date":"2024-11-07T16:01:49","date_gmt":"2024-11-07T21:01:49","guid":{"rendered":"https:\/\/tomo.com\/blog\/?p=3852"},"modified":"2025-04-17T17:13:49","modified_gmt":"2025-04-17T22:13:49","slug":"veterans-united-vs-rocket-mortgage","status":"publish","type":"post","link":"https:\/\/tomo.com\/blog\/veterans-united-vs-rocket-mortgage\/","title":{"rendered":"Veterans United vs. Rocket Mortgage"},"content":{"rendered":"\n<p>Looking for a home loan? You&#8217;ve probably come across Veterans United and Rocket Mortgage. Veterans United is all about supporting Veterans and their families with home financing, while Rocket Mortgage stands as a big player, funding billions in loans annually. So, which one\u2019s really worth your time? Let&#8217;s dive in.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/tomo.com\/mortgage\/interest-rates-today?utm_source=tomo_blog\">Compare lenders on TrueRate<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Veterans United vs. Rocket Mortgage: The basics<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Veterans United:<\/strong> Since 2002 Veterans United has been proudly serving Veterans and their families. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Rocket Mortgage: <\/strong>Rocket Mortgage, formerly Quicken Loans, is a giant digital lender. <\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>We\u2019re certainly curious why Rocket\u2019s refinanced loans accounted for a quarter of their volume\u2014112,710 loans\u2014during a time when <a href=\"https:\/\/tomo.com\/mortgage\/rates?utm_source=tomo_blog\" title=\"rates \">rates <\/a>were among the highest in the last decade. It makes one wonder about the factors that led so many borrowers to <a href=\"https:\/\/tomo.com\/blog\/want-a-lower-rate-heres-when-you-can-refinance-your-home\/\" title=\"refinance \">refinance <\/a>under those conditions.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>Tomo Mortgage: <\/strong> Launched in 2020, Tomo Mortgage is here to shake up the industry. We offer killer rates, zero lender fees, and a process that\u2019s all about making home buying easy and stress-free. Our customer reviews? 4+ starts on every review platform: <a href=\"https:\/\/www.consumeraffairs.com\/finance\/tomo.html?#scroll_to_reviews=true\" title=\"Consumer Affairs\">Consumer Affairs<\/a>, <a href=\"https:\/\/www.google.com\/search?q=google+tomo+mortgage+reviews&amp;oq=google+tomo+mortgage+reviews&amp;gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIGCAEQRRhA0gEIMzQ5M2owajeoAgCwAgA&amp;sourceid=chrome&amp;ie=UTF-8#lrd=0x8644b57cb3ad3a03:0x18a5ac199a4e74fd,1,,,,\" title=\"Google\">Google<\/a>,<a href=\"https:\/\/www.bankrate.com\/mortgages\/reviews\/tomo\/\" title=\" Bankrate\"> Bankrate<\/a>, <a href=\"https:\/\/www.zillow.com\/lender-profile\/hellotomo\/\" title=\"Zillow\">Zillow<\/a>, etc. We\u2019re not just a breath of fresh air\u2014we\u2019re a whole new way of doing things.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/tomo.com\/mortgage\/rates?utm_source=tomo_blog\">See today&#8217;s rates<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The breakdown<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td>Lender<\/td><td>Veterans United<\/td><td>Rocket Mortgage<\/td><td>Tomo Mortgage<\/td><\/tr><tr><td>Founded<\/td><td>2002<\/td><td>1985<\/td><td>2020<\/td><\/tr><tr><td>Lender Fees<\/td><td>$2,700 per conventional loan, $2,100 per VA loan*<\/td><td>$4,700 per loan*<\/td><td>$0<\/td><\/tr><tr><td>On-Time Close Rate<\/td><td>Not reported<\/td><td>Not reported<\/td><td>98%<\/td><\/tr><tr><td>Customer Reviews<\/td><td><a href=\"https:\/\/www.consumeraffairs.com\/finance\/veterans-united.html\" title=\"4.9 stars\">4.9 stars<\/a> on Consumer Affairs<\/td><td><a href=\"https:\/\/www.consumeraffairs.com\/finance\/rocket-mortgage.html\">4.1 stars<\/a> on Consumer Affairs <\/td><td><a href=\"https:\/\/www.consumeraffairs.com\/finance\/tomo.html?#scroll_to_reviews=true\">5.0 stars<\/a> on Consumer Affairs <br><a href=\"https:\/\/www.zillow.com\/lender-profile\/hellotomo\/\">4.95 stars<\/a>&nbsp;on Zillow<\/td><\/tr><tr><td>Employee Reviews <\/td><td><a href=\"https:\/\/www.glassdoor.com\/Reviews\/Veterans-United-Home-Loans-Reviews-E242421.htm\" title=\"\">4.3 Stars<\/a> on Glassdoor<\/td><td><a href=\"https:\/\/www.glassdoor.com\/Reviews\/Rocket-Companies-Reviews-E7856.htm\">3.5 stars<\/a> on Glassdoor<\/td><td><a href=\"https:\/\/www.glassdoor.com\/Reviews\/Tomo-Reviews-E5526789.htm\">4.1 stars<\/a> on Glassdoor <\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/tomo.com\/mortgage\/app\/preapproval?utm_source=tomo_blog\">Get a personalized rate quote<\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">How to judge mortgage lenders<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Interest rates:<\/strong> Don\u2019t get fooled by flashy numbers. Always compare the <a href=\"https:\/\/tomo.com\/blog\/whats-a-par-rate-and-does-it-really-matter\/\" title=\"\u201cpar rate\u201d \">\u201cpar rate\u201d <\/a>with <a href=\"https:\/\/tomo.com\/blog\/what-are-mortgage-interest-rate-points-and-how-to-save-money-on-your-mortgage\/\" title=\"0 points \">0 points <\/a>and check out the <a href=\"https:\/\/tomo.com\/blog\/what-are-apr-and-interest-rates-which-is-more-important\/\" title=\"APR (Annual Percentage Rate)\">APR (Annual Percentage Rate)<\/a>. This is your real cost of borrowing, so get the full picture before signing up.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Lender fees:<\/strong> Also called \u201c<a href=\"https:\/\/tomo.com\/blog\/what-is-a-origination-fee\/\" title=\"origination fees\">origination fees<\/a>\u201d or \u201capplication and processing fees, which Veterans United and Rocket Mortgage average over $2,100 in per loan. At Tomo Mortgage, we\u2019re lender fee-free, saving you thousands of dollars at closing.&nbsp;<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>On-time close rate:<\/strong> This is how often lenders actually close on the promised date. Industry standard? About 40%. But Tomo Mortgage &#8211;flexing a 98% on-time close rate, and we&#8217;re proud of it. Other lenders don\u2019t even bother to share this info, but it\u2019s a huge deal.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Pre approvals:<\/strong> While some lenders don\u2019t take the time necessary to prepare a strong pre approval and offer letter, this is critical to making a successful offer on a new home. Tomo Mortgage\u2019s online <a href=\"https:\/\/tomo.com\/blog\/how-to-get-pre-approved-for-a-mortgage\/\" title=\"pre approval\">pre approval<\/a> only takes 15 minutes, and it includes a<a href=\"https:\/\/tomo.com\/blog\/whats-the-deal-with-hard-vs-soft-credit-checks\/\" title=\" soft credit check\"> soft credit check<\/a>\u2014but way more reliable when you\u2019re making an offer on a home.<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Customer satisfaction:<\/strong> If you\u2019re finding it tough to trust what lenders are telling you, one of the best ways to gauge their reliability is by looking at reviews from people who were once in your shoes. Did those customers have a smooth experience with the lender? What went right\u2014or wrong?<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Employee reviews: <\/strong>Insights into employee satisfaction can reveal a company\u2019s values and transparency. Unhappy employees often lead to bad overall experiences. (See what their engineers have to say, for example.)<\/li>\n<\/ul>\n\n\n\n<p><\/p>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/tomo.com\/mortgage\/app\/preapproval?utm_source=tomo_blog\"><strong>Get pre approved <\/strong><\/a><\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">The verdict: Veterans United or Rocket Mortgage<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p>If you value emphasis on a military community, Veterans United could be worth considering. They excel with VA loans and have better customer reviews than Rocket Mortgage. However, they come with fees that could add up.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>But for most people the most important factor is the rate. We were curious to see how Tomo Mortgage\u2019s APR (annual percentage rate) stacked up against Rocket Mortgage so we looked at three Zip codes for two weeks on Nerdwallet (where we could compare apples-to-apples on loan scenarios). Using the median home sale price for each location, a credit score range of fair at 680, and with putting 5% down.&nbsp;<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><strong>In this scenario, from August 7 to August 20, 2024, Rocket\u2019s average APR was 7.64%<\/strong> <strong>while Tomo\u2019s average APR was 6.26%.&nbsp;<\/strong><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p>So, we\u2019re obviously biased, but we\u2019d say don\u2019t choose either. Tomo Mortgage has lower rates, lower fees, and better reviews. It\u2019s a pretty obvious choice.<\/p>\n\n\n\n<p>*sources: Business Insider Mortgage Reviews:&nbsp;<a href=\"https:\/\/www.businessinsider.com\/personal-finance\/mortgages\/veterans-united-review\" title=\"\">Veterans United<\/a>,&nbsp;<a href=\"https:\/\/www.businessinsider.com\/personal-finance\/mortgages\/rocket-mortgage-review\">Rocket Mortgage<\/a>, and&nbsp;<a href=\"https:\/\/richeymay.com\/insights\/hmda-market-share-dashboards\/\">HMDA<\/a>&nbsp;data from 2023<\/p>\n\n\n<div style=\"padding-top:var(--wp--preset--spacing--30);padding-bottom:var(--wp--preset--spacing--30);padding-left:var(--wp--preset--spacing--30);padding-right:var(--wp--preset--spacing--30);margin-top:var(--wp--preset--spacing--30);margin-bottom:var(--wp--preset--spacing--30);margin-left:0;margin-right:0;\" class=\"has-link-color wp-elements-c54b177fd5d2f341f8967a20726f2ac0 wp-block-post-author has-text-color has-contrast-color has-background has-tertiary-background-color has-large-font-size\"><div class=\"wp-block-post-author__content\"><p class=\"wp-block-post-author__name\"><a href=\"https:\/\/tomo.com\/blog\/author\/clairegtomonetworks-com\/\" target=\"_self\">Claire Gallaudet<\/a><\/p><p class=\"wp-block-post-author__bio\">Claire is a Mortgage Analyst at Tomo, where she explores the data and trends shaping the housing market. She is especially interested in how economic forces impact homebuyers. A Seattle native, she now lives in Austin, where she balances analysis and communications with teaching yoga and walks around the lake with her dog.<\/p><\/div><\/div>\n\n\n<p>If you&#8217;re ready to start your journey to homeownership, <a href=\"https:\/\/tomo.com\/mortgage\/app\/preapproval?utm_source=tomo_blog\" title=\"\">get pre approved with Tomo Mortgage today.<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Looking for a home loan? You&#8217;ve probably come across Veterans United and Rocket Mortgage. Veterans United is all about supporting Veterans and their families with home financing, while Rocket Mortgage stands as a big player, funding billions in loans annually. So, which one\u2019s really worth your time? Let&#8217;s dive in. Veterans United vs. Rocket Mortgage: [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":4211,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[286],"tags":[],"class_list":["post-3852","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lender-reviews"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/tomo.com\/blog\/wp-content\/uploads\/2024\/11\/veterans-united-vs-rocket-jpg.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/posts\/3852","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/users\/31"}],"replies":[{"embeddable":true,"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/comments?post=3852"}],"version-history":[{"count":6,"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/posts\/3852\/revisions"}],"predecessor-version":[{"id":5269,"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/posts\/3852\/revisions\/5269"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/media\/4211"}],"wp:attachment":[{"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/media?parent=3852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/categories?post=3852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/tomo.com\/blog\/wp-json\/wp\/v2\/tags?post=3852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}