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  • VA Loan Rates & Guidelines


    VA loan rates are the interest rates assigned to loans which are guaranteed by the Department of Veterans Affairs under its Home Loan Guaranty program. VA Home loan rates are usually substantially lower than all other loan product options.  The VA loan asks for no down payment and no mortgage insurance.  There are more flexible guidelines than with FHA and Conventional. 

    1. No Down Payment On A VA Loan

    The VA loan is a true no-money-down opportunity. VA does have an up front funding fee included in the loan but some applicants with disability may be exempt depending on their certificate of eligibility.

    2. No Mortgage Insurance On VA Loans

    FHA loans require mortgage insurance and so do most Conventional loans.  VA loans require neither a down payment or mortgage insurance. That makes this a VA-backed mortgage very affordable upfront and over time.

    3. VA Loans Don't Allow a Prepayment Penalty

    A VA loan won't restrict your right to sell your home if you decide you no longer want to own it. There’s no prepayment penalty or early-exit fee no matter within what time frame you decide to sell your home.

    4. It's Easy to Qualify for VA Loans

    The VA allows for more flexibility with debt to income ratios and approvals.  This will allow a buyer to qualify for more home than the other loan options.

    5. VA Loan Closing Costs Are Lower

    The VA limits the closing costs lenders can charge to VA loan applicants. This is another way that a VA loan can be more affordable than other types of loans.