VA Mortgage Rates: Today's Best Rates
Current VA loan rates updated daily. Exclusive mortgage benefit for veterans, active-duty military, and eligible spouses — zero down payment, no PMI, and competitive rates.
What Is a VA Loan?
A VA loan is a mortgage benefit guaranteed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses. VA loans are widely considered the best mortgage product available — offering zero down payment, no private mortgage insurance (PMI), and some of the lowest rates on the market.
Today's VA rate is 5.93%, compared to 6.33% for a conventional 30-year fixed. VA rates are typically lower because the government guarantee reduces lender risk.
Key VA Loan Benefits
Who Is Eligible for a VA Loan?
Eligible
- Veterans with honorable discharge
- Active-duty service members (90+ days)
- National Guard (6+ years service)
- Reserve members (6+ years service)
- Surviving spouses (unremarried)
Requirements
- Certificate of Eligibility (COE) from VA
- Meet lender credit requirements (typically 620+)
- Sufficient income and acceptable DTI
- Property must be primary residence
- Home must meet VA appraisal standards (MPRs)
VA Funding Fee
Instead of PMI, VA loans charge a one-time funding fee that can be rolled into the loan. The fee varies based on service type, down payment, and whether it's your first VA loan use.
Veterans with service-connected disabilities are exempt from the funding fee entirely — a significant savings of thousands of dollars.
VA vs. Conventional vs. FHA
VA loans stand apart from other mortgage types. Compared to conventional loans, you avoid PMI and the down payment entirely. Compared to FHA loans, you skip both the upfront and annual mortgage insurance premiums. For eligible borrowers, there's rarely a reason not to use your VA benefit.
How to Get the Best VA Rate
While VA loans are already competitive, you can secure an even better rate by maintaining a credit score above 700, making a down payment (even though it's not required) to reduce the funding fee, keeping your DTI ratio below 41%, and comparing offers from 3-5 VA-approved lenders.
VA Loan FAQ
Today's VA mortgage rate is 5.93% from Optimal Blue daily data. VA rates are typically 0.25-0.50% lower than conventional rates because the government guarantee reduces lender risk.
Yes. VA loans offer 100% financing with zero down payment required. Making a down payment can lower your VA funding fee.
For borrowers with full entitlement, there is no VA loan limit. If you have reduced entitlement from a prior VA loan, county limits based on FHFA conforming limits apply.
A one-time charge (2.15% for first use with $0 down) that replaces PMI. Veterans with service-connected disabilities are fully exempt.
Yes. Your VA loan benefit is reusable. You can restore entitlement after selling and paying off a VA loan, or have two VA loans in certain situations.
The VA doesn't set a minimum, but most lenders require 620+. Higher scores (700+) get the best rates.
Yes. Unremarried surviving spouses of veterans who died in service or from a service-connected disability are eligible and exempt from the funding fee.