Veritas Funding
Is This Your Business?Author: Kaitlyn Short
Veritas Funding, founded in 2004 in Utah, offers a variety of loan types in 17 states. The company has financed $7.5 billion+ in residential home loans and has helped 36,000+ families and individuals finance their home purchase.
As an online direct mortgage lender, Veritas Funding provides a streamlined application and approval process, and places particular emphasis on assisting first-time homebuyers throughout the entire mortgage process.
Continue reading for a full review of this mortgage company, or jump down to Veritas Funding reviews.
Top Ranked Companies
The Good
- Variety of Loan Types
- Approved Fannie Mae Seller
- Financial Calculators
- Online Loan Portal
- Physical Branch Locations
Variety of Loan Types
Veritas Funding offers consumers a wide range of home loan types:
- Conventional Loan
- FHA Loan
- VA Loan
- USDA Loan
- CalHFA Loan — Low interest rate loan option for qualifying California homebuyers. Program includes a lower down payment requirement as well as closing cost assistance.
- Utah Housing Corporation Loan Program — Financing, down payment, and closing cost assistance provided by the Utah Housing Corporation (UHC) to qualifying Utah homebuyers. The program offers conventional, FHA loan, and VA loan options.
- IHFA Home Loan — Mortgage assistance provided by the Idaho Housing and Finance Association to qualified Idaho homebuyers.
- WSHFC Loan Program — Mortgage assistance provided by the Washington State Housing Finance Commission to qualified Washington state homebuyers.
- IHFA Heroes Loan Program — A specialized loan program through the Idaho Housing and Finance Association, providing mortgage assistance to qualifying Idaho essential workers.
The variety of loans that Veritas Funding offers is encouraging, as it increases the number of consumers who are eligible for a loan. This means consumers with different financial backgrounds and needs are more likely to be accepted for a mortgage loan.
To learn more about each type of loan and which is best for your specific situation, we recommend consumers speak with a Veritas Funding representative for more information.
Approved Fannie Mae Seller
The Fannie Mae website states that Fannie Mae is a "leading source of financing for mortgages in the United States," and the company does its best to partner with other companies to ensure that homeowners, homebuyers, and renters have access to affordable financing opportunities.
Veritas Funding is an approved Fannie Mae seller servicer — meaning, the company has gone through a rigorous approval process and has been determined as a provisionally approved lender. These lenders may sell eligible loans to Fannie Mae (with servicing released only).
Financial Calculators
The Veritas Funding website features four helpful calculators:
- Mortgage Payment Calculator — estimate your mortgage payment
- Down Payment Calculator — determine how much you should save before buying a home
- Rent or Buy Calculator — analyze important up-front, recurring, and opportunity costs associated with buying and renting
- Purchasing Power Calculator — compare multiple financial scenarios, including how a higher or lower down payment, or interest rate, would affect how much you can afford in a home purchase
Keep in mind that the tools on Veritas Funding's website are for estimation purposes only. They are not a guarantee of borrower qualification or a pre-qualification or a commitment to lend. The numbers are just to give consumers an idea of what they can expect to pay; however, if someone has any questions about their estimates, we recommend speaking with a company representative.
Online Loan Portal
Veritas Funding aims to make the mortgage lending experience as easy and convenient as possible, so the company has an online portal that allows users to communicate with their loan team, exchange documentation, receive status updates, and more.
In addition, the company has a mobile app, available on both Android and iOS.
Physical Branch Locations
Although Veritas Funding is primarily an online mortgage lender, it does have physical branch locations. The company has multiple branches in Utah, where it was founded, but also has branches in the following states:
- Arizona
- California
- Colorado
- Idaho
- Oregon
- Nevada
- Texas
- Washington
- Wisconsin
- Wyoming
The Bad
- Only Licensed in 17 States
- No Rate Information Provided on Website
Only Licensed in 17 States
Veritas Funding is licensed to provide home loan financing in the following 17 states:
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If you aren't a homebuyer in one of the states listed above you will need to look into other mortgage lender options.
No Rate Information Provided on Website
Veritas Funding doesn't provide any mortgage rate ranges on its website. This is common within the industry because mortgage rates change daily with the market, but some lenders do provide estimated rate information to provide borrowers with an idea of what to expect.
To view rates on the Veritas Funding website you will need to first apply, after which rates will be populated for you based on your credit score, income, and other financial factors.
The Bottom Line
Veritas Funding offers several loan products, providing an opportunity for homebuyers from all different financial situations to receive a loan. To view rates and fees, consumers will need to apply online, or you may be able to call and speak with a Veritas Funding representative to receive some specific answers and guidance on various topics.
There are currently no Veritas Funding reviews, but the company offers a wide range of loan products that aren't common with other lenders. Therefore, if you are looking for a specialized loan type or a government-backed loan, Veritas Funding could be a good home loan financing option for you.
