In an industry where hidden fees are the norm, Rate continues to put veterans first with zero lender fees
Rate, a leader in fintech mortgage solutions, has reaffirmed its commitment to veterans by waiving over $65 million in VA loan lender fees since launching its initiative on May 1, 2018. This effort has helped over 47,000 veterans secure home financing without unnecessary costs, making Rate one of the few lenders in the country actively reducing barriers to homeownership for military families.
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“This is what leadership looks like. While others talk about serving veterans, we’ve taken real action waiving more than $65 million in fees to make homeownership more accessible for the people who’ve served our country. It’s not just about the number. It’s about doing what’s right every single day. We’re proud to lead the industry with transparency, fairness, and a commitment to the families who’ve given so much,” said Victor Ciardelli, CEO and President, Rate Companies.
“Many lenders claim to prioritize veterans, but some engage in misleading practices that drive up costs,” said Jennifer Beeston, EVP of Mortgage Lending at Rate. “We’re taking a stand by eliminating fees and ensuring veterans get the fair, affordable home financing they deserve.”
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By the Numbers: Rate’s Impact on VA Lending
- $65,289,930 in lender and application fees waived (2018–2025).
- 47,617 VA loans closed with fees waived.
- $0.31 per second waived—every second of every day since the program began.
- Goal for 2025: Waive an additional $20 million in lender fees.
A Stark Contrast: Rate vs. Competitor Practices
Unlike lenders who charge veterans thousands in unnecessary fees, Rate has led with transparency, affordability, and education. The company’s ongoing efforts include:
- Public education to expose misleading VA loan claims.
- Direct savings of up to $1,640 per loan for veterans and their families.
- Continued momentum, with over $18M waived in 2023 and 2024 combined, and a goal of $20 million in 2025.
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As VA lending remains a critical pathway to homeownership for service members, Rate is calling on the industry to do better. Jennifer Beeston is available to discuss veteran lending best practices, industry trends, and real-life examples of how Rate’s fee waivers are making a difference.
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Source – Businesswire
