What is the VA loan rate today?

As of March 2026, VA loan rates average 6.125-6.50% for 30-year fixed terms, typically 0.25-0.50% lower than conventional rates, with no down payment or monthly mortgage insurance required.

Why are VA loan rates lower?

VA loans have lower rates because they're partially guaranteed by the Department of Veterans Affairs, reducing lender risk. The VA guarantee replaces private mortgage insurance.

VA Loan Rates Today (March 2026): Current VA Mortgage Rates

Current VA loan rates and how VA mortgages compare to other loan options for eligible veterans and service members.

Current VA Loan Rates

Rates as of March 2026. Updated daily.

Loan Type	Rate	APR
30-Year VA Fixed	6.125%	6.32%
15-Year VA Fixed	5.500%	5.72%
VA 5/1 ARM	5.250%	6.15%

APR includes VA funding fee

VA vs Conventional vs FHA Comparison

Feature	VA Loan	Conventional	FHA
Rate	6.125%	6.875%	6.375%
Down Payment	0%	3-20%	3.5%
Monthly Insurance	$0	PMI until 20% equity	MIP for life
Upfront Fee	2.15%*	None	1.75%
Min Credit Score	No VA min (lenders: ~620)	620	580
APR (effective)	6.32%	6.95%	7.05%

*Funding fee for first-time use with no down payment; waived for disabled veterans

VA Loan Rate Advantages

Benefit	Savings vs Conventional
Lower rate (0.5-0.75%)	$50-$100/month
No PMI	$100-$300/month
No down payment	Preserves savings
No prepayment penalty	Refinance anytime
Total monthly savings	$150-$400

Payment Comparison: $400,000 Home

VA Loan (0% down)

Component	Amount
Down payment	$0
Loan amount	$400,000
VA funding fee (financed)	$8,600
Total loan	$408,600
Rate	6.125%
Monthly P&I	$2,485
Monthly MI	$0
Total P&I	$2,485

Conventional (5% down, 720 credit)

Component	Amount
Down payment	$20,000
Loan amount	$380,000
Rate	6.75%
Monthly P&I	$2,465
Monthly PMI	$190
Total P&I+PMI	$2,655

VA Advantage: Save $170/month with $0 down vs $20,000 down

VA Funding Fee

Down Payment	First Use	Subsequent Use
0%	2.15%	3.30%
5-9.99%	1.50%	1.50%
10%+	1.25%	1.25%

Funding Fee Exemptions

Category	Funding Fee
Disability rating 10%+	Waived
Purple Heart recipient	Waived
Surviving spouse	Waived
National Guard/Reserve	Same as active*

*After 90 days Title 10 activation

Funding Fee Examples

Loan Amount	Down %	Fee %	Fee Amount
$300,000	0%	2.15%	$6,450
$400,000	0%	2.15%	$8,600
$500,000	0%	2.15%	$10,750
$400,000	5%	1.50%	$5,700
$400,000	10%	1.25%	$4,500

VA Loan Rates by Credit Score

Credit Score	Typical VA Rate	vs. Conventional
760+	5.875%	0.50% lower
720-759	6.125%	0.50% lower
680-719	6.375%	0.50% lower
640-679	6.625%	0.50% lower
620-639	6.875%	0.50% lower
Below 620	Case-by-case	May still qualify

VA Loan Limits

Since 2020, VA loans have no loan limit for borrowers with full entitlement.

With Reduced Entitlement

If you have a prior VA loan still open:

County Type	Max Guarantee
Standard counties	$766,550
High-cost counties	Up to $1,149,825

VA Loan Eligibility

Service Category	Requirement
Active Duty	90+ continuous days
Wartime Veterans	90+ days active
Peacetime Veterans	181+ days active
National Guard	6+ years OR 90 days Title 10
Reserves	6+ years OR 90 days Title 10
Surviving Spouses	Unremarried, service-related death

VA IRRRL (Interest Rate Reduction Refinance Loan)

Already have a VA loan? Refinance easily:

Feature	Details
Current rate	6.00%
Requirements	Must lower rate OR shorten term
Appraisal	Not required
Income verification	Not required
Credit check	Usually minimal
Funding fee	0.5%
Time to close	2-3 weeks

VA Cash-Out Refinance Rates

Loan Type	Rate	Max LTV
30-Year Cash-Out	6.50%	100%
15-Year Cash-Out	6.00%	100%

VA is one of the only programs allowing 100% cash-out

Monthly Payment Examples

0% down, 6.125% rate, funding fee financed:

Home Price	Loan + Fee	Monthly P&I
$250,000	$255,375	$1,553
$300,000	$306,450	$1,864
$350,000	$357,525	$2,174
$400,000	$408,600	$2,485
$500,000	$510,750	$3,106
$600,000	$612,900	$3,727

VA Loan Rate History

Period	30-Year VA Rate
March 2026	6.125%
2025 Average	6.28%
2024 Average	6.15%
2023 Average	6.08%
2022 Average	4.65%
2021 Average	2.65%

How to Get the Best VA Rate

Strategy	Impact
Shop 3-5 VA lenders	Rates vary 0.25-0.50%
Check VA-specialized lenders	Often best rates
Consider small down payment	Lower funding fee
Improve credit score	Lower rate
Compare on same day	Rates change daily

Top VA Lender Types

Lender Type	Pros	Cons
VA-focused lenders	Best service, competitive rates	May be smaller
Credit unions	Low rates, low fees	Membership required
Big banks	Convenience	Often higher rates
Online lenders	Quick, competitive	Less personal

VA Loan Benefits Summary

Benefit	Value
No down payment	Save $20K-$100K+
No monthly MI	Save $100-$300/month
Lower rates	Save $50-$100/month
Lenient credit	Qualify with 620+
No prepayment penalty	Refinance freely
Assumable	Pass to future buyer
Foreclosure assistance	VA helps if struggling

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