The benefits of using your VA loan privileges
- Buy a home with no down payment – a benefit almost no other loan can offer
- Refinance up to 120% of your home’s value
- Take advantage of your VA loan benefits even if you’ve used them in the past
Why choose Quicken Loans
- Our dedicated VA mortgage bankers are experts in the VA loan process
- We’re the nation’s #1 VA lender according to Inside Mortgage Finance, 1st quarter 2014 loan volume
- We’re not a bank – mortgages are all we do
- Online tools like MyQL let you track your mortgage process from start to finish, and our Mortgage Calculator app gives you rates right on your phone
Client Testimonial“I was extremely pleased with the way Quicken loans handled my entire mortgage loan process. Honestly, I couldn’t be happier. I had been wanting to consolidate a traditional 30-year fixed mortgage and a Home Equity Loan we took out to renovate an old home we had purchased. I am a retired US Army General and have been a dedicated USAA customer for more than forty years.
The entire process we had with Quicken was light years different. As an EMC employee I attended a lunchtime mortgage Webinar presented by Quicken Loans. I was intrigued and from my first phone call the entire process was a world of difference. I was fully informed all the time as the process proceeded. Uploading documents was incredibly easy. I received periodic phone calls to explain what was happening and our closing was a breeze.”
John C., MG (Retired), USA
Other loans you might be interested in
Quicken Loans in the military community
VA loan features
- 30-, 20- & 15-year fixed-rate and 5-year ARM loans available
- Jumbo VA loans available up to $1,500,000
- Buy a home with no money down
- Refinance up to 120% of your primary home’s value
- VA Streamline refinance – available for veterans currently in VA loans – has reduced funding fees and minimal documentation
- No monthly PMI (Private Mortgage Insurance)
How VA loans work
- Credit scores as low as 620 may qualify for VA loans
- Use your Basic Allowance for Housing toward your monthly mortgage costs
- Prepay your mortgage at any time without penalties
- Roll the funding fee into the loan amount to limit closing costs
Learn more about VA Loans
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“I reached a guy his name was Matt Henkels and I told him what I was looking for, which was a VA Loan, and in 10 minutes he had all the information he needed and I right away knew that he knew what he was talking about. When we got finished with the conversation he started with the process and everything unfolded exactly as he said it was going to.”
VA mortgage rates – find out how much you can save
Veteran or serving? You’re entitled to all the advantages of VA loans. Refinance up to 120% of your home’s value or buy a home with no down payment.
Use our convenient VA mortgage rates calculator to determine your monthly payment, based on current rates.
- Mortgage rates could change daily.
- Actual payments will vary based on your individual situation and current rates.
- Some products may not be available in all states.
- Some jumbo products may not be available to first time home buyers.
- Lending services may not be available in all areas.
- Some restrictions may apply.
- Based on the purchase/refinance of a primary residence with no cash out at closing.
- We assumed (unless otherwise noted) that: closing costs are paid out of pocket; this is your primary residence and is a single family home; debt-to-income ratio is less than 30%; and credit score is over 720, or in the case of certain Jumbo products we assume a credit score over 740; and an escrow account for the payment of taxes and insurance.
- The lock period for your rate is 45 days.
- The loan to value (LTV) ratio is 70%. If LTV > 80%, PMI will be added to your monthly mortgage payment, with the exception of Military/VA loans. Military/VA loans do not require PMI.
- Please remember that we don’t have all your information. Therefore, the rate and payment results you see from this calculator may not reflect your actual situation. Quicken Loans offers a wide variety of loan options. You may still qualify for a loan even if your situation doesn’t match our assumptions. To get more accurate and personalized results, please call (800) 251-9080 to talk to one of our mortgage experts.
30-year Fixed-Rate VA Loan: Rate is fixed. The payment on a $204,300, 30-year fixed-rate loan at 3.50% and 70% loan-to-value (LTV) is $917.4 with 1.75 Points due at closing. The Annual Percentage Rate (APR) is 3.816%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.
15-year Fixed-Rate VA Loan: Rate is fixed. The payment on a $204,300, 15-year fixed-rate loan at 2.75% and 70% loan-to-value (LTV) is $1386.43 with 2.25 Points due at closing. The Annual Percentage Rate (APR) is 3.384%. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. Some state and county maximum loan amount restrictions may apply. VA loans do not require PMI. The VA loan is a benefit of military service and only offered to veterans, surviving spouses and active duty military.
VA Adjustable-Rate Mortgage: The payment on a 30-year $204,300 5-year VA Adjustable-Rate Loan at 2.75% and 70% loan-to-value (LTV) is $834.04 with 1.875 points due at closing. After 5 years, the principal and interest is $788.52. Payment does not include taxes and insurance premiums. The actual payment amount will be greater. VA loans do not require PMI. The Annual Percentage Rate (APR) is 2.728%. Rate is variable and may increase after fixed rate period.