Current VA Rates
VA Home Loan Rates from the #1 in Customer Service VA Lender
Today’s VA Loan Rates:
30-Year Fixed VA Purchase Loan
6.125%Â Â Â Â 6.564% APR
Points 1.5630 ($4610.85)
15-Year Fixed VA Purchase Loan
5.990%Â Â Â 6.736% APR
Points 1.6880 ($4979.60)
Principal & Interest (P&I)
$
Taxes & HOA
$
Homeowners Insurance
$
VA Funding Fee
$
Purchase Price
$
Down Payment
$
VA Funding Fee
$
Total Loan Amount
$
Estimated Taxes & Insurance
Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.
VA Funding Fee
The VA Funding Fee is paid to the VA to help fund the program and varies depending on type of service, loan amount, down payment and subsequent VA Loan usage. This fee can be paid in cash at closing, but most borrowers choose to roll this cost into their monthly payments. The VA Funding Fee is waived for Veterans entitled to VA compensation for a service-connected disability and surviving spouses of Veterans who died in service or as a result of a service-connected disability.
Amount Financed
Purchase Price (-) Down Payment (+) VA Funding Fee.
Estimated Payment
$ /mo
Loan amount
$
VA Funding fee
$
VA Funding fee percentage
Down payment
$
Interest rate
Loan term
Taxes & insurance included?
Property tax
Homeowner's insurance
$
HOA dues
$
Payment Breakdown
Amortization
Principal vs. Interest
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $$240,000 (the amount borrowed)
- Interest payments: $$297,554 (the cost of borrowing)
What Determines My Rate?
VA loan interest rates are influenced by a variety of factors, including:
- Credit Score
- Debt-to-Income Ratio
- Loan Duration ( 15- or 30-year)
- Current Market Conditions
Due to the risk involved in issuing a loan, a good credit score almost always means a lower rate. However, even if you have imperfect credit, you may still have an easier time qualifying for a low rate die to the VA Guaranty.
VA Interest Rate vs APR
It is important to understand the difference between your interest rate and Annual Percentage Rate (APR). The interest rate on your VA loan is the cost you pay each year to borrow the money and does not reflect fees and charges you may incur to get the loan.
The APR on a VA loan is a broader reflection of borrowing costs, including the interest rate and other potential costs and fees associated with getting the loan.
APR can take into consideration the following items:
- Interest rate
- Origination fees and costs
- Closing agent fees
- Discount points
- Other fees dependent on the specific transaction
Your APR is likely to be higher than your base VA loan interest rate. APR is a tool that can help you compare mortgage offers. But understand that lenders can calculate it differently.
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