Current VA Loan Rates
Last updated Tuesday December 6th, 2016 at 11:25 AM CST
VA 30 Year Fixed: 4.00%*
VA 15 Year Fixed: 3.75%*
These VA Mortgage rates are based on an informal survey from our participating VA lenders for the date published. Please read below for more important information about current VA mortgage rates. To get pre-qualified for a VA Home Loan and lock in your VA interest rate, please call or fill out the simple form to the right and a specialist with a participating VA approved lender will assist you. *APR will vary by lender based on lender’s specific closing costs.
VA Loan Rates
Contrary to popular belief, Veterans mortgage rates are not set by the Department of Veterans Affairs. Each Veterans Affairs approved mortgage lender or broker sets their own rate, usually on a daily basis. The VA rates can and do change with changes in the financial markets just like conventional mortgage rates do.
Interest rates are a function of the risk associated with a mortgage. Generally, a mortgage with no down payment is considered riskier and has a higher interest rate. However, since the VA mortgages are guaranteed by the Department of Veterans Affairs, there is much less risk associated with them for lenders and therefore the VA rates are usually better than conventional rates, even with no down payment!
Lower Rates = Lower Monthly Payment
A lower interest rate on a VA Mortgage will lower your monthly payment for a home being purchased or refinanced. If you are buying a home, a lower rate also means you can have a slightly larger amount lent to you. This means you can purchase a more expensive home with the same monthly payment you would have at a higher interest rate on a less expensive home.
The impact of the lower VA interest rate is greater the larger the loan amount is. With Veterans Affairs amounts now going up to $729,000 in certain high cost areas, if you are an eligible Vet it is in your best interest to explore the option of a VA Mortgage and get interest rate information from an approved lender.
VALoanCenter.net is not a government agency website or affiliated with the Department of Veterans Affairs. VALoanCenter.net has relationships with VA Loan Specialists who work for VA approved lenders. VALoanCenter.net may share your information with these trusted affiliates in order to assist you.