Compare Current VA Mortgage Rates
Comparing VA loan rates can save you thousands of dollars over the life of your mortgage.
Compare today’s VA loan rates
| Loan product | Interest rate | APR |
|---|---|---|
| 30-year fixed rate VA mortgage purchase | 5.59% | 5.77% |
| 15-year fixed rate VA mortgage purchase | 5.04% | 5.41% |
| VA 30-year 5/1 ARM mortgage purchase | 4.94% | 5.51% |
| 30-year fixed rate VA refinance | 5.76% | 6.05% |
| 15-year fixed rate VA refinance | 5.71% | 6.44% |
Average interest rates disclaimer
What factors determine VA loan rates?
-
Your credit score.
Typically, the higher your credit score, the lower your rate. -
Your down payment.
This isn’t as much of a factor with VA loans, since a down payment isn’t usually required for eligible borrowers — however, a higher down payment may result in a lower interest rate. -
Your mortgage term.
Your term is how many years it takes to repay your loan. You’ll usually pay a lower rate for a shorter term (like a 15-year mortgage versus a 30-year mortgage), but you’ll have a higher monthly payment amount. -
Your home’s location.
Mortgage rates vary from city to city and state to state. -
The financial markets.
VA loan rates change daily, based on a variety of economic factors. That’s why it’s important to gather all your rate quotes on the same day.
VA loan rates: Are they a good deal?
Do VA loans have lower rates than other mortgages?
Yes, VA loan rates tend to be significantly lower than what most borrowers are offered for conventional loans or FHA loans, as they’re guaranteed by the U.S. Department of Veterans Affairs.
However, even if you snag a great interest rate, you should keep an eye on a VA loan’s total costs, which are represented by a loan’s annual percentage rate (APR). The VA funding fee, which is required for most VA loan borrowers, can push up your total loan costs and increase your APR. You can find APR information on Page 3 of your loan estimate.
Read more about the difference between an APR and an interest rate.
How to get the best VA loan rates
-
Improve your credit score.
While the VA doesn’t impose specific credit score requirements, individual lenders often do. You’ll likely need at least a 620 score to get a VA loan. Taking the time to repair your credit can help you qualify for a lower rate. -
Comparison shop.
Get a loan estimate from three to five lenders, and be sure to compare both APRs and interest rates. -
Buy discount points.
Also called mortgage points, discount points allow you to purchase a lower interest rate. One mortgage point typically costs 1% of your loan amount and reduces your rate by up to 0.25%. For example, if you bought a $300,000 house and were offered a 5.82% interest rate, buying one point would cost $3,000 and could lower your interest rate to 5.57%. -
Pick a shorter loan term.
A 30-year mortgage is typically the standard repayment term, but it’s also worth considering a shorter 10- or 15-year mortgage term. If you can afford the higher payments, you’ll save thousands in interest charges over the life of the loan. LendingTree’s VA loan calculator can help you get a handle on how different loan terms might impact your monthly payment. -
Choose a variable-rate loan.
If you’re truly on the hunt for rock-bottom rates, adjustable-rate mortgages (ARMs) are an option that can help you get a VA loan at the lowest possible interest rate. That said, you’ll need to understand how ARM rates work and be prepared for the full spectrum of possible rates you could face when the loan starts adjusting.
Explore VA home loan lenders
| Lender | User ratings | LendingTree rating | Best for | Min. credit score (VA loan) | Rate spread
Rate spread is the difference between the average prime offer rate (APOR) — the lowest APR a bank is likely to offer any private customer — and the average annual percentage rate (APR) the lender offered to mortgage customers in 2023. The higher the number, the more expensive the loan.
| |
|---|---|---|---|---|---|---|
 |
(2624)
Ratings and reviews are from real consumers who have used the lending partner’s services.
|
Expert review from LendingTree.
| Overall VA lender | 580 | 0.73% | |
 |
(645)
Ratings and reviews are from real consumers who have used the lending partner’s services.
|
Expert review from LendingTree.
| Online experience | 580 | 1.11% | |
 |
(4174)
Ratings and reviews are from real consumers who have used the lending partner’s services.
|
Expert review from LendingTree.
| Transparency | 620 | 0.15% | |
 |
(89)
Ratings and reviews are from real consumers who have used the lending partner’s services.
|
Expert review from LendingTree.
| Bad credit VA loans | 500 | 1.46% |
Read more about how we chose our best VA mortgage lenders.
| Lender | Minimum credit score | Rate spread
Rate spread is the difference between the average prime offer rate (APOR) — the lowest annual percentage rate (APR) a mortgage lender is likely to offer a well-qualified borrower in the current market — and the average APR the lender offered to mortgage customers in 2024. The higher the number, the more expensive the loan.
|
|---|---|---|
| Rocket Mortgage | 620 | 0.87% |
| Flagstar | Not specified | 0.60% |
| Veterans United | Not specified | -0.12% |
| Carrington | Not specified | 1.28% |
VA loan eligibility requirements
Military veterans, active-duty service members and eligible surviving spouses may qualify for a VA loan as long as they meet the minimum service requirements and have sufficient VA entitlement. Head over to LendingTree’s VA loan guide to explore eligibility requirements in more detail.
To confirm your eligibility for a VA loan and see how much of your VA loan entitlement you have left, apply online for a certificate of eligibility at the Veterans Information Portal.
How LendingTree chose the best VA loan lenders
We reviewed more than 40 lenders to determine our picks for the best VA lenders. LendingTree reviews and fact-checks our top lender picks annually by gathering loan program and requirement details directly from lenders and analyzing data from the Home Mortgage Disclosure Act (HMDA) government database.
We review several key factors: digital application availability and ease of use, product and lending information accessibility, in-person branch footprint and LendingTree expert star rating.
LendingTree best lender criteria
To be considered as a potential best lender pick by LendingTree experts, the lender must provide users with an online loan application experience that is relatively easy to follow and complete.
This means the lender must provide a user-friendly website and make their customer service contact information easy to find online.
To qualify for “best lender” consideration by LendingTree experts, the lender must provide users with an online experience that helps borrowers make sense of the mortgage lending process.
This means the lender must provide free, online learning materials to help homebuyers understand the lender’s offered products, basic loan qualification requirements and high-level rates information.
Lenders must offer mortgages in at least 35 states across the U.S. to be considered a best lender pick. This allows a wider range of users to potentially choose the lender for their home loan, improving accessibility when customers need to contact the lender or get a rate quote.
For lenders to qualify for consideration as a best lender pick, they must have at least a four-star lender review rating from LendingTree experts. This rating indicates that the lender meets most, if not all, of the five criteria considered when assigning ratings. Here is the LendingTree star rating system for this year:
- Publishes rates online (+1 star)
- Offers standard mortgage products (+1 star)
- Includes detailed product info online (+1 star)
- Shares resources about mortgage lending (+1 star)
- Provides an online application (+1 star)
LendingTree mortgage experts’ process for choosing best lenders
LendingTree gathers data directly from lenders through their websites, disclosures and, in some cases, direct communication with company representatives. Lenders that clearly present product details and terms are viewed more favorably in our evaluation.
The LendingTree editorial team applies consistent criteria to every lender. We also verify and update information periodically. Lenders cannot pay to influence our ratings. Read LendingTree’s editorial guidelines for more information.
Why trust LendingTree’s methodology?
Together, the team aims to make LendingTree a reliable and helpful resource for readers as they navigate the complex mortgage lending process.
Together, the team aims to make LendingTree a reliable and helpful resource for readers as they navigate the complex mortgage lending process.
