Compare current VA loan rates
See today’s average VA mortgage rates and compare free, customized VA loan rate quotes from lenders in your area.
NerdWallet reviewed lenders:
Based on your ZIP code, credit score, loan amount, and other criteria.
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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)
NerdWallet’s mortgage rate insight
On Friday, Aug. 23, 2019, the average rate on a 30-year fixed-rate mortgage fell four basis points to 3.92%, the rate on the 15-year fixed was unchanged at 3.45% and the rate on the 5/1 ARM dropped two basis points to 4.24%, according to a NerdWallet survey of daily mortgage rates published by national lenders. A basis point is one one-hundredth of one percent. Rates are expressed as annual percentage rate, or APR. The average rate on the 30-year fixed is two basis points lower than a week ago.
Mortgage rates today (APR)
| Loan type | Average rate | Change 1 day | Change 1 year |
|---|---|---|---|
| 30-year fixed mortgage rate | 3.92% | 0.04% | 0.77% |
| 15-year fixed mortgage rate | 3.45% | 0.0% | 0.78% |
| 5/1 ARM mortgage rate | 4.24% | 0.02% | 0.64% |
How to 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 providing any personal information. From there, you can start the process of getting approved for your VA home loan. It’s that easy.
What is a VA loan and who is eligible?
A VA loan is a mortgage that requires no down payment, no mortgage insurance and is available to active-duty military, veterans, certain military spouses, reservists and National Guard members. The VA loan program, backed by the U.S. Department of Veterans Affairs, aims to help service members and veterans enjoy the benefits of home ownership.
Credit score and credit history requirements for VA loans are not as strict as those with some other government programs and conventional loans. The VA guarantee gives lenders the confidence they need to make these loans, even if the borrower’s credit isn’t up to typical mortgage qualification standards.
How much does a VA loan cost?
If you meet VA loan requirements, you’ll be able to buy a home without saving for a down payment or paying mortgage insurance. Instead, you’ll need to 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 type of military service, the down payment amount and whether this is your first VA loan.
For purchase loans with a zero-down payment, the VA funding fee ranges from 2.15% to 3.3% of the loan amount. It can be lower for some refinances and can be waived for disabled veterans and some surviving spouses. You’ll also be responsible for other closing costs, such as appraisals and inspections.
