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VA Loan Hub · Rates & APR

Today’s VA Loan Rates: Current Ranges and How to Compare

Last reviewed: Jan 032026 Primary sources: VA Lender’s Handbook · VA.gov Home Loans

Rates on VA loans move dailybut many qualified borrowers will see 30-year fixed purchase offers land roughly between 5.375% and 6.44%. Shorter terms and streamline refinances can price lowerwhile cash-out refinances often price higher. Your exact rate depends on creditpointsloan purposeand how you structure closing costs and escrows.

Current Rate Ranges You May See

30-year fixed purchase quotes commonly land around 5.375% on the low end and up to about 6.44% for many borrowers.
15-year fixed purchase options may price near 5.250% for highly qualified borrowersbut termpointsand loan size still matter.
Streamline IRRRL refinance rates can run near 5.500% in strong scenarios because the loan is a refinance of an existing VA mortgage.
Cash-out refinance rates often start higheraround 5.990% in favorable casesdue to added underwriting and the higher-risk cash-out feature.
APR will be higher than the note rate when points or fees are chargedso use both numbers when comparing offers.

How to Read Rate Quotes Like a Pro

Ask for a Loan Estimate and confirm the same lock periodloan termand points before you compare any two offers.
If one quote looks dramatically lowercheck whether it assumes discount pointsa shorter termor excludes taxes and insurance from the payment.
Match your scenario to the correct loan type: purchaseIRRRLor cash-outbecause each has different pricing and documentation requirements.
Locking a rate can protect you during underwritingbut the lock must last through closing or you may pay an extension fee.

What Moves Your VA Rate

Credit score band and recent credit history.
Loan purpose: purchase vs IRRRL vs cash-out.
Points vs lender credits (cash-to-close tradeoff).
Lock length and day-to-day market movement.
Feesescrow assumptionsand whether the quote is truly apples-to-apples.

Fast Quote Comparison Checklist

Same loan amounttermand occupancy.
Same lock period and rate-lock status.
Same points/credits and lender fees.
Compare APR and total cash-to-closenot rate alone.
Use the worksheet to estimate 5-year cost.

Compare VA Loan Offers Open Calculator

Today’s VA Loan Rates Snapshot for

These figures are a published snapshot. They are not a live locked rate or a commitment to lend. Points shown affect the note rate and APR—always request a zero-point quote for an apples-to-apples comparison.

VA Loan Type	Interest Rate	APR	Points
30-Year Fixed VA (Purchase)	5.737%	5.995%	1.000 pts
15-Year Fixed VA (Purchase)	5.207%	5.746%	1.000 pts
20-Year Fixed VA (Purchase)	5.732%	6.052%	1.000 pts
30-Year Fixed VA Jumbo (Purchase)	5.667%	6.006%	1.000 pts
30-Year VA Cash-Out Refinance	6.067%	6.176%	1.000 pts
30-Year VA Cash-Out Jumbo Refinance	5.938%	6.303%	1.000 pts
30-Year Streamline (IRRRL) Refinance	5.608%	5.900%	0.750 pts
30-Year Streamline (IRRRL) Jumbo Refinance	6.125%	6.318%	0.750 pts

Using this snapshot in the calculator

The calculator’s Market anchor works best as a “par” baseline (before points).
A quick approximation is to add ~0.25% per point to the snapshot ratethen set your points slider separately.
Always validate with your Loan Estimate—rateAPRpoints/creditsand lock terms must match to compare correctly.

VA Rate Scenario Tool

This calculator starts with a market “anchor rate” and applies typical directional adjustments for credit band loan purposedown payment/equityand discount points. It estimates principal-and-interest only (no taxesinsuranceHOAor VA funding fee).

JavaScript is required for the calculator

You can still use the snapshot table and FAQbut the calculator and worksheet need JavaScript enabled.

1. Build your scenario

Market anchor (30-year fixed VA rate%)

Use a strong-credit 30-year VA purchase as a baseline. Adjustments below move relative to this anchor.

Loan term

Shorter terms often price lowerbut the monthly payment is higher.

Loan purpose

IRRRLs can price better; cash-out often prices higher (varies by lender overlays).

Estimated credit score range

If you have a mortgage tri-mergeuse the middle score. Otherwise pick the closest range.

Loan amount (estimated)$

Use the estimated loan balance (not purchase price). Funding fee is not included in this estimate.

Down payment / equity

VA doesn’t require a down paymentbut some lenders reward extra equity in pricing.

Discount points you might pay

0 points 0.00 points

Rule of thumb: 1 point (1% of loan) may reduce rate by ~0.25%. Actual pricing varies.

Estimated lender & third-party costs (% of loan)

Used to estimate APR. Your Loan Estimate is the real number.

Limitations

This is a planning tool. It does not include taxesinsuranceHOA duesthe VA funding fee or lender-specific credits/overlays. Use it to understand direction and magnitudethen confirm with Loan Estimates from VA lenders.

2. Estimated rateAPRand payment

Scenario estimate Planning only — actual rates come from VA lenders.

Estimated interest rate

—

Estimated APR

—

Estimated principal & interest

— / month

Enter details to see a sample VA payment.

Compare VA Loan Offers

How this rate was built

Market anchor—
Credit band—
Purpose / refi type—
Down payment / equity—
Discount points—

VA doesn’t set rates; lenders do. This is a directional model so you can understand pricing mechanics.

Payment and interest snapshot

Monthly P&I: —
Interest paid in first 5 years: —
Total interest over full term: —

Use this to sanity-check pointsrefinance ideasand long-term interest impact.

Effect of a 0.50% rate change

If rate drops 0.50%: —
If rate rises 0.50%: —
Monthly difference: —

Small rate swings can change approval outcomes near DTI/overlay limits.

How to Read Your VA Rate Scenario

Your scenario does not tell you whether a specific lender will approve you. It helps you understand whether you’re in a typical “green”“yellow”or “red” pricing zone and what usually improves outcomes.

1. Green — Competitive Range

Many VA lenders can price competitively in this rangeespecially with clean recent credit history.

Credit in the mid-600s or higher with clean 12-month history.
Purchase or IRRRLnot high-LTV cash-out.
0–1 discount points and normal closing costs.
Payment fits your budget and common lender overlays.

2. Yellow — Still PossibleShop Hard

Pricing spreads can widen. Small differences in ratefeesand points matter moreand some lenders will decline.

Credit in the low-600s or high-500s but improving.
Cash-out refinance or DTI near common overlays.
Considering points to buy down rate into approval range.
Compensating factors may matter more (reservesstabilityetc.).

3. Red — Focus on Repair Plan

In this zonemany lenders either price very high or decline the file. Use the numbers to design a plan.

Scores under the high-500sor major recent credit events.
Very high DTI or unstable income patterns.
Max cash-out combined with weaker credit.
Best next step is a credit + budget plan with a VA lender.

VA Rate Quote Comparison Worksheet

Once you have actual Loan Estimatesuse this worksheet to compare up to three lenders. Enter the note rate discount pointsand fees. The worksheet estimates APRmonthly paymentand five-year cost (interest + upfront costs).

What counts as “fees” here?

Include lender origination chargesunderwriting feesdiscount pointsand third-party closing costs that are not government taxes. Do not include the VA funding fee or prepaid taxes/insurance when comparing APR or five-year cost.

Lender	Est. APR %	P&I payment	5-year cost (interest + fees)
Lender 1	—	—	—
Lender 2	—	—	—
Lender 3	—	—	—

Tip: the highlighted row is the lowest estimated five-year cost based on your current loan amount and term.

Example VA Rate Table (Anchored to Your Inputs)

This table shows how different VA loan scenarios might price off your anchor rate and loan amount. It is not a live quote. Update the anchor rate and loan amount in the VA Rate Scenario Tool and this table will refresh automatically.

Scenario	Estimated rate	Estimated APR	P&I payment
Zero-down purchase · 680–719 credit · no points	—	—	—
Purchase with 5% down · 720+ credit · 0.5 points	—	—	—
Cash-out refi to 90% LTV · 640–679 credit · no points	—	—	—
VA IRRRL (rate-and-term) · 700+ credit · no points	—	—	—

How to use this example table

Rates assume a full-doc VA loan with standard underwriting.
Adjustments are relative to your anchor ratenot fixed numbers.
APR assumes your “fees %” setting from the Rate Scenario Tool.
The VA funding fee is not included; it affects loan amountnot note rate.

VA Rate BasicsRulesand FAQs

VA guarantees part of the loan but does not set your interest rate. Individual lenders price VA loans based on markets credit riskand their own margin—this is why it’s normal to see different rates from lender to lender on the same day.

What are the pros and cons of a VA loan?

VA loans can offer zero downno monthly mortgage insuranceand flexible approval standards for eligible Veterans. The tradeoffs are that the property must meet VA appraisal standards and you must occupy it as a primary residence. Some sellers are unfamiliar with VA timelinesso clear communication and strong documentation matter.

How do discount points work on a VA loan?

Discount points are optional upfront costs you pay to buy a lower interest rate. They can make sense if you plan to keep the loan long enough to break even on the added cash-to-close. Always compare a zero-point quote to a points quotethen calculate the monthly savings and break-even timing.

How does a rate lock work for VA loans?

A rate lock is a written agreement that holds your interest rate for a set number of days while your loan closes. Lock after you have an accepted contract and your documents are readyso underwriting can move fast. Confirm the lock expiration date and any extension fees.

Who actually sets VA mortgage rates?

The Department of Veterans Affairs guarantees part of the loan but does not set the interest rate or APR on VA mortgages. Individual lenders set rates based on market pricingcredit riskand their own cost structure. VA’s role is to define eligibilityguarantee rulesand certain fee limits—not daily rate sheets.

Why are VA rates often different between lenders on the same day?

Each VA lender uses its own pricing enginecost structureand appetite for VA loans. Some price aggressively and make up the difference with volume. Others price more conservatively or add overlays for lower credit scorescash-outor condos. That’s why meaningful differences between quotes are common.

Are VA rates usually lower than conventional rates?

Oftenyesbecause VA’s guaranty can reduce lender risk. The bigger advantage is that VA doesn’t require monthly mortgage insuranceso the payment can be lower than a comparable high-LTV conventional loan even at a similar rate.

How often do VA rates change?

Lenders can reprice several times per day when bond markets move quickly. Many issue a main rate sheet in the morning and may revise intra-day if markets move beyond a threshold. Quotes can go stale fast if you’re not locked.

What is the difference between the note rate and APR on a VA loan?

The note rate is used to calculate your monthly principal-and-interest payment. APR folds certain upfront costs into an equivalent annual percentage rate so you can compare loans with different combinations of ratepointsand fees.

How do VA IRRRL (streamline refinance) rates work?

An IRRRL is a streamlined VA-to-VA refinance that can require less documentation than a purchase or cash-out loan. Many lenders price IRRRLs better than cash-out refis because they can be lower riskbut overlays still apply and you must meet VA’s net-tangible-benefit tests.

What is the best way to shop VA rates without hurting my credit?

Gather several quotes within a short shopping window so mortgage inquiries are grouped. Use written Loan Estimatesconfirm the same lock period and points/creditsthen compare APR and total cash-to-close. Drop the numbers into the worksheet to standardize the comparison.

Next steps: compare VA loan offers review VA funding fee rates or check VA income and DTI requirements before you apply.

References

Primary references used:

Created by: Levi Rodgers

Validated by: Kenneth SchwartzSenior Loan Officer NMLS#1001095

Last updated January 32026

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