Today's VA Mortgage Rates
Compare live rates from VA-approved lenders. No down payment. No PMI. Updated in real time.
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How VA Mortgage Rates Work
VA loan interest rates are set by individual lenders, not the VA. The Department of Veterans Affairs guarantees a portion of each loan (typically 25% of the loan amount), which reduces the lender's risk and allows them to offer more favorable terms than conventional mortgages.
Because of this government guarantee, VA borrowers consistently receive lower rates than conventional borrowers — typically 0.25% to 0.50% lower. Combined with no PMI requirement and no down payment, this makes VA loans the most cost-effective mortgage option for eligible veterans.
What Affects Your VA Loan Rate
Credit Score
Higher scores unlock the best rates. Most VA lenders want 620+, but 740+ gets the lowest pricing.
Loan Amount
Jumbo VA loans (above $832,750 in most areas for 2026) may carry slightly higher rates than conforming loans.
Loan Term
15-year loans have lower rates than 30-year but higher monthly payments. ARMs start lower but adjust.
Market Conditions
VA rates track the 10-year Treasury yield. When Treasury rates fall, mortgage rates typically follow.
Discount Points
Paying upfront points (1 point = 1% of loan) buys down your rate. Worth it if you plan to stay 5+ years.
Occupancy
VA loans require primary residence occupancy. Investment properties and second homes are not eligible.
VA Loans vs. Other Loan Types
| Feature | VA Loan | Conventional | FHA |
|---|---|---|---|
| Down Payment | 0% | 3–20% | 3.5% |
| PMI Required | No | Yes (under 20%) | Yes (MIP) |
| Typical Rate (Mar 2026) | 5.625% | 6.25% | 6.00% |
| Min. Credit Score | ~620 | 620–680 | 580 |
| Funding Fee | 2.15% (first use) | None | 1.75% upfront |
| Loan Limits | None (full entitlement) | $832,750 | $498,257 |
| Prepayment Penalty | None | Varies | None |
VA Funding Fee Schedule (2026)
The VA funding fee is a one-time charge that sustains the program without requiring PMI. It can be rolled into the loan. Rates below have been in effect since April 7, 2023. Veterans with any service-connected disability rating (10%+) and surviving spouses receiving DIC are fully exempt.
| Loan Type | Fee |
|---|---|
| First use — $0 down | 2.15% |
| First use — 5% to 9.99% down | 1.50% |
| First use — 10%+ down | 1.25% |
| Subsequent use — $0 down | 3.30% |
| Subsequent use — 5% to 9.99% down | 1.50% |
| Subsequent use — 10%+ down | 1.25% |
| IRRRL (streamline refinance) | 0.50% |
| Cash-out refinance (first use) | 2.15% |
| Cash-out refinance (subsequent) | 3.30% |
How to Get the Best VA Mortgage Rate
- Compare at least 3 lenders. VA rates vary by lender. A 0.25% difference on a $300K loan saves over $15,000 over 30 years.
- Check your credit first. Pull your free report at annualcreditreport.com. Dispute errors and pay down balances before applying.
- Consider discount points. If you plan to stay 5+ years, buying down your rate with points typically pays for itself.
- Lock your rate. Once you find a rate you like, lock it. Rates can change daily. Most locks are 30–60 days.
- Compare APR, not just rate. APR includes the funding fee and lender charges. Two identical rates can have very different APRs.
Frequently Asked Questions
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, and surviving spouses. The VA guarantee allows lenders to offer loans with no down payment, no PMI, and competitive interest rates.
The VA guarantees a portion of each loan (typically 25%), reducing the lender's risk. This government backing lets lenders offer lower rates than they would for an unguaranteed conventional mortgage. VA borrowers also tend to have strong repayment track records.
The VA does not set a minimum credit score, but most lenders require a score of at least 620. Some lenders go as low as 580. A higher credit score will help you qualify for the best available rates.
The VA funding fee is a one-time charge (2.15% for first-time use with $0 down, up to 3.3% for subsequent use) that sustains the VA loan program. It can be rolled into the loan. Veterans with any service-connected disability rating (10%+) and surviving spouses receiving DIC are fully exempt.
Yes. Your VA loan entitlement can be restored after you sell the home and pay off the loan. Some veterans can even have two VA loans simultaneously if they have remaining entitlement.
VA rates are typically 0.25%–0.50% lower than conventional rates and comparable to or better than FHA rates. The real savings come from no PMI and no down payment — a conventional borrower putting less than 20% down pays PMI that can add $100–$300/month.
Yes. The APR (Annual Percentage Rate) includes the interest rate plus fees like the VA funding fee, origination charges, and discount points. Two lenders may offer the same rate but different APRs — always compare APR to see the true cost.
VA loan rates change daily, sometimes multiple times per day. They are influenced by the 10-year Treasury yield, Federal Reserve policy, inflation expectations, and broader economic conditions. Locking your rate with a lender protects you from daily fluctuations.
Related Tools
Methodology
Rates displayed are sourced from participating lenders via Mortgage Research Center, LLC (NMLS #1907) through the ICanbuy rate table platform. National averages are based on a $300,000 loan amount, 720+ credit score, single-family primary residence, and 0 discount points. The 2026 conforming loan limit baseline is $832,750 ($1,249,125 in high-cost areas). Your actual rate may differ. VeteranLife does not originate loans or endorse any specific lender. Equal Housing Opportunity.