Monthly payment examples below are for a loan amount of $350k ($1,100k on Jumbo). Taxes and insurance not included within the estimate; actual payment amount will be greater.
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Learn about loans we offer with down payments as low as 1%.
Rates are current as of 9:31 PM UTC on September 17, 2025
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Factors that determine your VA loan rate
As a benefit of serving our country, VA interest rates are usually lower than rates for the common 30-year fixed mortgage. But home loans of all types are affected by the same factors.
Credit score
Depending on other factors, a higher credit score means lower interest rates.
Debt-to-income ratio (DTI)
Here it’s a lower number that matters. The less debt you have, the better interest rate you could get.
Market conditions
The Federal Reserve (the central bank of the U.S.), inflation and the housing market all affect VA mortgage rates.
Pros and cons of a VA loan
Pros
No down payment. Most eligible service members, veterans and spouses won’t need a down payment when buying a home using a VA loan.
Less stringent credit guidelines. At Rocket Mortgage®, you could qualify for a VA loan if your credit is 580 or better – lower than any loan type except FHA.
No mortgage insurance. Your monthly mortgage payment won’t include mortgage insurance with a VA loan, unlike FHA loans, and conventional loans if you put less than 20% down.
Cons
VA funding fee. In place of no down payment or mortgage insurance, the VA charges a funding fee – roughly 2% or less of your loan amount.
Minimum property requirements. Similar to FHA loans, the property you’re considering needs to meet standards set by the VA.
Closing costs. Although you probably won’t need a down payment, you still pay closing costs for a VA loan, which can be 3-6% of the home price.
VA loan rates frequently asked questions
You should get the mortgage that’s right for your situation. Because of the benefits, a VA loan could be the best option for eligible service members, veterans and surviving spouses.
Buying a home within the next few months? Get prequalified and talk to a Home Loan Expert to see if a VA loan is right for you.
If you meet the minimum active-duty service requirements based on when and where you served, you could qualify for a Certificate of Eligibility (COE). That’s the document that shows lenders you qualify for a VA loan.
Surviving spouses of a veteran may also be eligible for a COE.
We can help you know if you’re eligible, or you can check on the VA website.
The main thing that makes VA loans different from conventional loans is that they’re only available to eligible service members, veterans and surviving spouses. That’s because they’re backed by the U.S. Department of Veterans Affairs (VA). Here’s a quick comparison to show how else these two loans differ.
Credit: At Rocket Mortgage, you can have credit as low as 580 to get a VA loan for buying or refinancing a home. For a conventional loan, you’ll need credit of 620 or better.
Down payment: Your down payment to buy a home can be as low as 0% with a VA loan. Most conventional loans require a down payment of at least 3%.
Private mortgage insurance (PMI): Not required for a VA loan, required for a conventional loan when our down payment is less than 20%.
Want even more comparisons? Check out VA loan vs. conventional loan: what’s the difference
A mortgage rate lock keeps your interest rate from rising for a certain length of time. You can consider locking your rate once you’ve found a home you want to buy and are ready to start getting your mortgage for it.
If the rate you’re getting gives you a monthly payment that fits your budget, and rates have been trending up, you might want to lock it. Your Home Loan Expert can help you understand if locking your rate makes sense for you.
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