VA Loan Rates

Because VA home loans are backed by the federal government, lenders have the luxury of charging competitively low interest rates. Eligible veterans and service members find that rates are generally lower with a VA home loan than a conventional mortgage.

The VA doesn’t set interest rates. Your lender determines the rate on your VA loan based on your unique financial situation

What Determines My Rate?

A variety of factors, including:

•Credit score

•Debt-to-income ratio

•Loan duration (15- or 30-year)

•Current market conditions

A good credit score almost always means a lower rate. However, even if your credit report isn't in perfect shape, you may still have an easier time qualifying for a low rate due to the VA Guaranty.

Locking in Your VA Loan Rate

Once you've identified the house you wish to purchase and have entered a contract for that property, your loan officer will help you figure out what the rate will look like.