Today's average rate
30-year fixed rate:APR 6.808%
-0.09%
Today
-0.65%
Over 1y
15-year fixed rate:APR 6.074%
+0.04%
Today
-0.50%
Over 1y
5-year ARM rate:APR 7.444%
-0.04%
Today
-0.60%
Over 1y

Compare Today's VA Mortgage Rates

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Why do you want a home loan?
Showing: Purchase, Good (720-739), 30-year fixed, Single family home, Primary residence, VA loans
Showing: Purchase, Good (720-739), 30-year fixed, Single family home, Primary residence, VA loans
License information

17 results:

30-year fixed

Simplist
EXPLORE QUOTEon Simplist
on Simplist
Simplist: NMLS#1764611
Lowest APR
Lowest monthly payment
VA 30-year fixed
Simplist
4.5
NerdWallet rating
APR
5.865% 
Interest rate
5.75% 
Mo. payment
$2,364 
Insurance $0
Total fees
$3,380 
About this lender
Pros
  • Loan origination process can be completed online.
  • Offers government-backed FHA and VA loans.
  • Offers module that compares mortgage rates among other lenders.
Cons
  • Offers loans in many states and Washington, D.C., but not nationwide.
  • Does not offer home equity loans or lines of credit.
Armed Forces Bank: NMLS#579225
Great for Loan variety
VA 30-year fixed
Armed Forces Bank
3.5
NerdWallet rating
APR
5.865% 
Interest rate
5.75% 
Mo. payment
$2,364 
Insurance $0
Total fees
$3,271 
About this lender
Pros
  • Offers a purchase loan program with no lender fees for educators and first responders.
  • Home equity lines of credit and renovation loans are available.
  • Loans available for health-care professionals and self-employed borrowers.
Cons
  • Mortgage rates are not published online.
  • Doesn’t offer home equity loans.
Northpointe: NMLS#447490VA 30-year fixed
Northpointe
APR
5.893% 
Interest rate
5.75% 
Mo. payment
$2,364 
Insurance $0
Total fees
$6,238 
About this lender
Visit lender's website | Call (866) 356-0885
Pros
  • A full slate of loan offerings.
  • Offers a no-down-payment loan with a shorter repayment term that helps accelerate home equity accumulation.
  • Digital conveniences include a mobile app.
Cons
  • You’ll need to provide contact information or speak to a loan officer for customized mortgage rates.
  • Origination fees are on the high side, according to the latest data.
First Federal Bank: NMLS#408902VA 30-year fixed
First Federal Bank
APR
6.116% 
Interest rate
6% 
Mo. payment
$2,429 
Insurance $0
Total fees
$3,619 
About this lender
Pros
  • Offers government-backed loans and some harder-to-find products, such as jumbo loans for investment and multifamily properties.
  • Home renovation loans are available.
  • Offers home equity loans and lines of credit.
Cons
  • Mortgage rates are not published online.
  • Bank branches are limited to seven states.
NBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer service
VA 30-year fixed
NBKC
APR
6.242% 
Interest rate
6.125% 
Mo. payment
$2,461 
Insurance $0
Total fees
$4,887 
Pros
  • Offers government-backed loans and some harder-to-find products, such as construction loans and specialty mortgages for pilots.
  • Offers low rates and fees compared with other lenders, according to the latest federal data.
Cons
  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
Central Bank: NMLS#407985VA 30-year fixed
Central Bank
4.0
NerdWallet rating
APR
6.242% 
Interest rate
6.125% 
Mo. payment
$2,461 
Insurance $0
Total fees
$4,251 
About this lender
Pros
  • Among the best when it comes to online convenience.
  • Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
  • Claims to offer preapproval within 24 hours of loan application.
Cons
  • You'll have to complete a loan application to see mortgage interest rates.
  • Bank branch locations limited to the Midwest.
  • Does not offer home equity lines of credit.
New American Funding: NMLS#6606
Great for first-time home buyers | customer service
VA 30-year fixed
New American Funding
APR
6.407% 
Interest rate
6.25% 
Mo. payment
$2,494 
Insurance $0
Total fees
$6,629 
Pros
  • Offers a wide variety of purchase and refinance mortgages with an emphasis on helping underserved communities.
  • Its home equity line of credit can be used for an owner-occupied or second home.
  • Offers a program to enable buyers to make cash offers.
Cons
  • Mortgage origination fees tend to be on the high end, according to the latest federal data.
Better: NMLS#330511
Great for digital convenience
Conventional 30-year fixed
Better
APR
6.555% 
Interest rate
6.375% 
Mo. payment
$2,496 
Insurance $0
Total fees
$7,456 
About this lender
Pros
  • Borrowers can apply, lock in a rate and receive a commitment letter within one day.
  • Offers both HELOCs and home equity loans with a high borrowing limit of 90% CLTV.
  • Offers mortgages for manufactured homes, as well as financing for self-employed borrowers.
Cons
  • No mobile app; customer service is by email or phone only.
  • Borrower must provide contact information to see customized rates.
  • Does not offer renovation or construction loans.
Farmers Bank of Kansas City: NMLS#613839
Great for Rate transparency
Conventional 30-year fixed
Farmers Bank of Kansas City
4.5
NerdWallet rating
APR
6.778% 
Interest rate
6.75% 
Mo. payment
$2,595 
Insurance $0
Total fees
$1,151 
About this lender
Pros
  • Displays customized rates, with fee estimates, without requiring contact information.
  • Offers home equity loans and lines of credit.
  • Mortgage origination fees are on the low side compared to other lenders, according to the latest federal data.
Cons
  • Doesn’t offer government-backed FHA or USDA loans, or adjustable-rate mortgages.
  • Home renovation loans are not available.
  • Mortgage rates are on the high side compared to other lenders, according to the latest federal data.
Simplist: NMLS#1764611Conventional 30-year fixed
Simplist
4.5
NerdWallet rating
APR
6.99% 
Interest rate
6.99% 
Mo. payment
$2,659 
Insurance $0
Total fees
-$580 
About this lender
Pros
  • Loan origination process can be completed online.
  • Offers government-backed FHA and VA loans.
  • Offers module that compares mortgage rates among other lenders.
Cons
  • Offers loans in many states and Washington, D.C., but not nationwide.
  • Does not offer home equity loans or lines of credit.
First Federal Bank: NMLS#408902Conventional 30-year fixed
First Federal Bank
APR
7% 
Interest rate
7% 
Mo. payment
$2,662 
Insurance $0
Total fees
$0 
About this lender
Pros
  • Over 40% of all loans last year were FHA, VA or USDA loans.
  • Average mortgage rates are on the lower side, according to the latest federal data.
  • Offers 15-, 20-, 25-, and 30-year repayment terms, which is unusually flexible.
Cons
  • No dedicated mobile app for mortgage borrowers.
  • Some loans (including home equity products) are geographically limited.
NBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer service
Conventional 30-year fixed
NBKC
APR
7.031% 
Interest rate
6.99% 
Mo. payment
$2,659 
Insurance $0
Total fees
$1,671 
Pros
  • Mortgage rates are on the low side compared to other lenders, according to the latest federal data.
  • VA loans represent more than a quarter of purchase volume, a larger share than many lenders NerdWallet reviews.
  • Offers a variety of loan types for purchase and refinance, including fixed- and adjustable-rate loans and government options.
Cons
  • You’ll need to share contact information to see mortgage rates.
  • HELOCs and no-down-payment loans are available only in the Kansas City metro area.
  • Mobile app focuses on online banking, not mortgages.
Central Bank: NMLS#407985Conventional 30-year fixed
Central Bank
4.0
NerdWallet rating
APR
7.13% 
Interest rate
7.125% 
Mo. payment
$2,695 
Insurance $0
Total fees
$188 
About this lender
Pros
  • Among the best when it comes to online convenience.
  • Offers a full selection of mortgage types and products, including jumbo, home equity, and government loans.
  • Claims to offer preapproval within 24 hours of loan application.
Cons
  • You'll have to complete a loan application to see mortgage interest rates.
  • Bank branch locations limited to the Midwest.
  • Does not offer home equity lines of credit.
New American Funding: NMLS#6606
Great for first-time home buyers | customer service
Conventional 30-year fixed
New American Funding
APR
7.166% 
Interest rate
7.125% 
Mo. payment
$2,695 
Insurance $0
Total fees
$1,629 
Pros
  • Offers a wide variety of purchase and refinance mortgages, as well as unique buyer assistance programs.
  • Its home equity line of credit can be used for a primary residence or second home.
Cons
  • Average origination fees are on the high side, according to the latest federal data.
  • Personalized mortgage rates are not available on the website without providing contact information.
HSBC Bank: NMLS#399799Conventional 30-year fixed
HSBC Bank
5.0
NerdWallet rating
APR
7.396% 
Interest rate
7.375% 
Mo. payment
$2,763 
Insurance $0
Total fees
$835 
About this lender
Pros
  • Offers an online application and loan process updates.
  • Offers mortgages for investment properties.
  • Makes it easy to browse current rates and get a customized mortgage rate quote.
Cons
  • Does not offer FHA or VA government-backed loans.
  • No renovation mortgage options.
Rocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer service
Conventional 30-year fixed
Rocket Mortgage, LLC
APR
7.657% 
Interest rate
7.625% 
Mo. payment
$2,832 
Insurance $0
Total fees
$1,250 
About this lender
Pros
  • Reported average time to close is 15 days faster than industry average.
  • FHA and VA loans make up 40% of Rocket Mortgage’s total loan volume.
  • Borrowers can apply via mobile app.
Cons
  • Origination fees are on the higher end, according to the latest federal data.
  • No construction or renovation loans.
  • Physical branches are only available in Detroit, Cleveland, and Phoenix.
Rocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer service
VA 30-year fixed
Rocket Mortgage, LLC
APR
7.859% 
Interest rate
7.625% 
Mo. payment
$2,867 
Insurance $0
Total fees
$9,050 
About this lender
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Mortgage interest rates are on the low side compared to other lenders, according to the latest federal data.
  • Offers the option to work with loan officers by phone if desired.
Cons
  • Getting a customized interest rate requires a credit check, which can affect your credit score.
  • Origination fees are on the high side compared with other lenders, according to the latest federal data.

About These Rates: The lenders whose rates appear on this table are NerdWallet’s advertising partners. NerdWallet strives to keep its information accurate and up to date. This information may be different than what you see when you visit a lender’s site. The terms advertised here are not offers and do not bind any lender. The rates shown here are retrieved via the Mortech rate engine and are subject to change. These rates do not include taxes, fees, and insurance. Your actual rate and loan terms will be determined by the partner’s assessment of your creditworthiness and other factors. Any potential savings figures are estimates based on the information provided by you and our advertising partners.


A Beginner’s Guide to VA Loans
Last updated on September 19, 2024
Written by 
Taylor Getler
Writer
Michelle Blackford
Reviewed by 
Jeanette Margle
Edited by 
Jeanette Margle
Lead Assigning Editor
Fact Checked
Taylor Getler
Written by 
Writer
Michelle Blackford
Reviewed by 
Jeanette Margle
Edited by 
Jeanette Margle
Lead Assigning Editor
Fact Checked

Current VA mortgage rates

NerdWallet’s mortgage rate tool can help you find competitive, customized VA mortgage rates. In the “Refine results” section, enter a few details, and in moments you’ll get a rate quote tailored to meet your needs, without having to provide any personal information. From there, you can start the process of getting approved for your VA home loan.

VA loan eligibility requirements

  • Active-duty service members who served 90 continuous days.

  • Veterans who have met length-of-service requirements (generally 90 days in wartime and 181 days in peacetime).

  • Service members or veterans who have completed 90 days of active-duty service or six creditable years in the Selected Reserve or National Guard.

  • Surviving spouses of veterans who died while in service, died from a service-connected disability, went missing in action or were a prisoner of war. Surviving spouses who have remarried are only eligible if the marriage was after age 57 or after Dec. 16, 2003. 

Select members of other organizations may also be eligible, such as Public Health Service Officers or Officers of the National Oceanic & Atmospheric Administration.

What determines my VA loan interest rate?

Many factors influence the mortgage rate you’re offered, including the economy, your financial details and the lender. The best way to find out if you’re being quoted a good VA mortgage rate is to apply with multiple lenders.

With a Loan Estimate from each lender compared side-by-side, you’ll be able to see which lender is giving you a good mortgage rate combined with the lowest origination fees.

Personal details that will influence your rate offers include your:

  • Credit score: Generally speaking, higher scores come with lower rates. While the VA doesn’t set a specific minimum credit score, lenders will generally want to see a score of at least 620. 

  • Existing debt: Ideally, your total amount of monthly debt obligations (including your mortgage and other loans) should not account for more than 41% of your monthly pre-tax income. 

  • Loan term: While shorter mortgage terms will have a higher monthly payment (say, a 15-year loan vs. a 30-year loan), they also come with lower rates. 

  • Down payment: While this isn’t required for a VA loan, a down payment will lower your loan-to-value ratio, which can result in a lower rate.

  • Overall market conditions: Average mortgage rates fluctuate daily and are influenced by many economic factors, as well as the actions of the Federal Reserve.  

  • Lender: Interest rates can vary by lender, which is why it’s important to shop around with at least three. NerdWallet’s experts have curated a list of our top picks for VA lending

How VA loans compare with conventional mortgages

For home shoppers who qualify, VA loans have unique benefits over conventional loans.

Loan requirements

VA loans

Conventional loans

Property type

Primary home.

Primary or second home, investment properties.

Minimum down payment

Zero in most instances.

Usually at least 3%. Some lenders offer special zero-down loans.

Mortgage insurance

No mortgage insurance. One-time VA funding fee of 1.25% to 3.3% of loan amount for purchase mortgages.

Private mortgage insurance usually required if down payment is less than 20%.

Minimum credit score

No minimum set by VA, but a 580-620 FICO score is a common lender requirement.

A 620 FICO score is typical.

Maximum debt-to-income ratio

Lenders will give more scrutiny if DTI is over 41%.

Ideally under 36%, but higher ratios can be accepted.

On average, VA home loans tend to have better mortgage rates than conventional loans. The rate you’re offered will depend on your credit score and other personal financial details, as well as the lender.

Pros and cons of VA loans

VA loans are often a good deal for borrowers who qualify — especially if they want to buy without making a down payment. Here are some benefits and one drawback to VA loans.

Pros

  • Buy with zero down: Qualified VA borrowers may buy without making a down payment.
  • No mortgage insurance: Even with a 0% down payment, VA borrowers don’t pay mortgage insurance. Instead, they pay a one-time funding fee.
  • Flexible loan qualifying standards: The VA has no minimum credit score requirement, although lenders often require credit scores of 620 or higher. When assessing affordability, the VA looks at how much money is left over after the borrower’s monthly expenses.

Cons

  • Funding fee: Although VA loans don’t have mortgage insurance, they do have a funding fee that’s paid at closing. The funding fee varies from 1.25% to 3.3% of the loan amount, depending on size of down payment and whether it’s your first or a subsequent VA loan.

Learn more about VA loans:

Frequently asked questions

  • Will VA loan rates go up or down?

    Average mortgage rates fluctuate daily and are influenced by the economy’s overall rate of growth, the inflation rate and the health of the job market. See NerdWallet’s mortgage interest rates forecast to get our take.

  • Most borrowers will pay a VA funding fee. For purchase loans with a zero-down payment, the VA funding fee is 2.15% of the loan amount if this is your first VA loan. It can be lower for some refinances and can be waived for disabled veterans and some surviving spouses. Active-duty service members who have received a Purple Heart are exempt from the funding fee. You’ll also be responsible for other closing costs, such as appraisals and inspections.

  • The interest rate is the percentage that the lender charges for borrowing the money. The APR, or annual percentage rate, can reflect a more accurate cost of borrowing. The APR calculation includes fees and discount points, along with the interest rate.

    APR is a tool used to compare loan offers, even if they have different interest rates, fees and discount points.


About the author: Taylor Getler is a home and mortgages writer for NerdWallet. Her work has been featured in outlets such as MarketWatch, Yahoo Finance, MSN and Nasdaq. Taylor is enthusiastic about financial literacy and helping consumers make smart, informed choices with their money. Email: [email protected].

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