CHICAGO, March 27, 2025 (GLOBE NEWSWIRE) -- 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.
“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."
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.
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.
About Rate
Rate Companies is a leader in mortgage lending and digital financial services. Headquartered in Chicago, Rate has over 850 branches across all 50 states and Washington D.C. Since its launch in 2000, Rate has helped more than 2 million homeowners with home purchase loans and refinances. The company has cemented itself as an industry leader by introducing innovative technology, offering low rates, and delivering unparalleled customer service. Honors and awards include: Top 5 Mortgage Lender by Inside Mortgage Finance for 2024; Best Mortgage Lender for First-Time Homebuyers by NerdWallet for 2023; HousingWire's Tech100 award for the company's industry-leading FlashCloseSM digital mortgage platform in 2020, MyAccount in 2022, and Language Access Program in 2023; the most Scotsman Guide Top Originators for 11 consecutive years; Chicago Agent Magazine's Lender of the Year for seven consecutive years; and Chicago Tribune's Top Workplaces list for seven straight years. Visit rate.com for more information.
Media Contact
press@rate.com
Operating as Guaranteed Rate, Inc. in New York.
Guaranteed Rate, Inc. D/B/A Rate; NMLS #2611. For licensing information visit nmlsconsumeraccess.org. Equal Housing Lender. Subject to approval. Conditions may apply.
Applicant subject to credit and underwriting approval. Not all applicants will be approved for financing. Receipt of application does not represent an approval for financing or interest rate guarantee. Refinancing your mortgage may increase costs over the term of your loan. Restrictions may apply.
Rate has no affiliation with the U.S. Department of Housing and Urban Development, the U.S. Department of Veterans Affairs, the U.S. Department of Agriculture, or any other government agency.
