6.876% APR 

Compare Today's VA Mortgage Rates

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Applied Filters: Good (720-739), 30-year fixed, Single family home, Primary residence, VA loans
Applied Filters: Good (720-739), 30-year fixed, Single family home, Primary residence, VA loans
License information12 results:
30-year fixed
First Federal Bank
EXPLORE QUOTE
First Federal Bank: NMLS#408902
Lowest APR
Lowest monthly payment
VA 30-year fixed
First Federal Bank
4.0
NerdWallet rating
APR
6.116% 
Interest rate
6% 
Mo. payment
$2,429 
Insurance $0
Total fees
$3,044 
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.
Central Bank: NMLS#407985VA 30-year fixed
Central Bank
4.0
NerdWallet rating
APR
6.241% 
Interest rate
6.124% 
Mo. payment
$2,461 
Insurance $0
Total fees
$4,757 
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.
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
$4,336 
About this lender
Visit lender's website | Call (888) 871-2381
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.
  • Displays customized rates, with fee estimates, without requiring contact information.
Cons
  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
Northpointe: NMLS#447490VA 30-year fixed
Northpointe
APR
6.252% 
Interest rate
6.125% 
Mo. payment
$2,461 
Insurance $0
Total fees
$5,407 
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.
New American Funding: NMLS#6606
Great for first-time home buyers | customer service
VA 30-year fixed
New American Funding
APR
6.281% 
Interest rate
6.125% 
Mo. payment
$2,461 
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.
Rocket Mortgage, LLC: NMLS#3030
Great for digital convenience | customer service
Conventional 30-year fixed
Rocket Mortgage, LLC
APR
6.906% 
Interest rate
6.875% 
Mo. payment
$2,628 
Insurance $0
Total fees
$1,250 
About this lender
Pros
  • Streamlined online process with document and asset retrieval capabilities, as well as the ability to edit your preapproval letter.
  • Offers the option to work with loan officers by phone if desired.
  • Largest FHA lender in the nation.
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.
  • Doesn't offer home equity lines of credit.
Central Bank: NMLS#407985Conventional 30-year fixed
Central Bank
4.0
NerdWallet rating
APR
7.009% 
Interest rate
6.99% 
Mo. payment
$2,659 
Insurance $0
Total fees
$780 
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.
NBKC: NMLS#409631
Great for first-time home buyers | digital convenience | customer service
Conventional 30-year fixed
NBKC
APR
7.018% 
Interest rate
7% 
Mo. payment
$2,662 
Insurance $0
Total fees
$739 
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.
  • Displays customized rates, with fee estimates, without requiring contact information.
Cons
  • HELOCs and construction-to-permanent loans are available only in the Kansas City metro area.
First Federal Bank: NMLS#408902Conventional 30-year fixed
First Federal Bank
APR
7.022% 
Interest rate
7% 
Mo. payment
$2,662 
Insurance $0
Total fees
$871 
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 eight states.
  • Consumers might have trouble finding contact information.
New American Funding: NMLS#6606
Great for first-time home buyers | customer service
Conventional 30-year fixed
New American Funding
APR
7.03% 
Interest rate
6.99% 
Mo. payment
$2,659 
Insurance $0
Total fees
$1,629 
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.
  • Has a program to enable buyers to make cash offers.
  • Receives high marks for customer satisfaction, according to J.D. Power and Zillow.
Cons
  • Mortgage origination fees tend to be on the high end.
  • 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
7.399% 
Interest rate
7.375% 
Mo. payment
$2,763 
Insurance $0
Total fees
$943 
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.
Bethpage Federal Credit Union
EXPLORE QUOTEon Bethpage Federal Credit Union
on Bethpage Federal Credit Union
Bethpage Federal Credit Union: NMLS#449104Conventional 30-year fixed
Bethpage Federal Credit Union
APR
7.664% 
Interest rate
7.625% 
Mo. payment
$2,832 
Insurance $0
Total fees
$1,520 
About this lender
Pros
  • Has a fully online mortgage application and a highly rated mobile app.
  • Offers financing for co-ops, a type of home that’s common on the East Coast.
  • Interest rates are on the low side, according to the latest federal data.
Cons
  • In-person service available only on Long Island, New York.
  • Doesn’t offer renovation, construction-to-permanent or USDA loans.
  • Customized rates not available online.

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.


Mortgage rate trends (APR)

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NerdWallet’s mortgage rate insight

6.876%

30-year fixed-rate

On Thursday, June 20, 2024, the average APR on a 30-year fixed-rate mortgage rose 3 basis points to 6.876%. The average APR on a 15-year fixed-rate mortgage rose 2 basis points to 6.046% and the average APR for a 5-year adjustable-rate mortgage (ARM) remained at 7.756%, according to rates provided to NerdWallet by Zillow. The 30-year fixed-rate mortgage is 11 basis points higher than one week ago and 22 basis points higher than one year ago.

A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR.

Current mortgage and refinance rates

ProductInterest RateAPR
30-year fixed-rate6.801%6.876%
20-year fixed-rate6.443%6.538%
15-year fixed-rate5.926%6.046%
10-year fixed-rate5.719%5.890%
7-year ARM6.934%7.690%
5-year ARM6.704%7.756%
3-year ARM8.125%8.355%
30-year fixed-rate FHA6.015%6.783%
30-year fixed-rate VA5.930%6.309%

Data source: ©Zillow, Inc. 2006 - 2021. Use is subject to the Terms of Use

A Beginner’s Guide to VA Loans
Holden Lewis
By
Last updated on August 11, 2023
Reviewed by
Michelle Blackford
Reviewed by

How do I find 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. It’s that easy.

How are veterans navigating the market in 2024?

Veterans United, a lender that specializes in VA loans, surveyed borrowers between August and September 2023 who intended to purchase a home within the next three years. Of these borrowers, 27% reported that they anticipated buying within the following six months, while 40% projected that they’d be buying within seven to 12 months. As such, more VA borrowers might start to trickle into the market throughout the year.

It also seems borrowers are waiting for mortgage rates to fall in 2024. More than three-quarters (78%) of respondents reported that an “acceptable” mortgage rate would be 5% or less. Respondents also reported that their three largest barriers to homeownership were high interest rates, high home prices and the costs of other goods and services.

Who is eligible for a VA loan?

  • 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. When you make lenders compete, you can compare loan offers and determine which has the best combination of rate and fees.

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.

  • Existing debt: Ideally, your total amount of monthly debt obligations (including your mortgage and other loans) shouldn’t 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. 

Are VA rates lower than conventional?

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.

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. Unpredictable events can affect all of those factors. See NerdWallet’s mortgage interest rates forecast to get our take.

How much does a VA loan cost?

Your VA mortgage rate will affect the overall cost of borrowing. A higher rate will mean a higher monthly mortgage payment and more interest paid over the life of the loan.

VA loans include other costs, too. Most borrowers will pay a VA funding fee. The fee varies depending on several factors, including whether the loan is for a home purchase or mortgage refinance, the down payment amount and whether this is your first VA loan.

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 and you close the loan on or after April 7, 2023. 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.

What’s the difference between a VA interest rate and APR?

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.

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.

  • Lenient 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%, depending on size of down payment and whether it’s your first or a subsequent VA loan.

Learn more about VA loans:


About the author: Holden is NerdWallet's authority on mortgages and real estate. He has reported on mortgages since 2001, winning multiple awards.

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30-year-fixed mortgage rates