You’ve earned the benefit of saving with a VA loan
- Are you a veteran, member of the military, or a surviving spouse of a veteran?
- Do you want fast approval and minimal red tape?
- Are you interested in refinancing up to 120% of your home, or buying a home with no down payment?
Why you should choose Quicken Loans
- Only Quicken Loans offers you the Closing Cost Cutter. Find out how this great option can help guide you to the best decision to meet your financial goals.
- We close the majority of our loans in 30 days or less!
- Our exclusive 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.
VA loan features
- 30-, 20- & 15-year fixed-rate and 5-year ARM loans available
- Jumbo VA loans available up to $1,094,625 ($1,500,000 in Alaska and Hawaii) and up to $325,000 cash-out on a refinance
- Refinance up to 120% of your primary home’s value
- VA Streamline refinance with a reduced funding fee and flexible documentation requirements – available for veterans currently in VA loans
- Buy a home with no money down (primary home)
- No monthly PMI (Private Mortgage Insurance)
- VA loans are governed by the U.S. Department of Veterans Affairs
- Refinancing your VA loan? Ask about the VA Streamline – refinance quickly with a reduced funding fee
How VA loans work
- Fixed rate monthly payments are based on interest rate, principal loan amount and amortized interest over 15, 20 or 30 years. Your payment will not change throughout the life of the loan
- ARM interest rates are fixed for a period of 5 years. After the fixed-rate period, your interest rate can adjust up or down depending on the market
- Your actual payment will vary based on your situation and the current interest rates when you apply
- Pay your mortgage at any time without prepayment penalties
- Credit scores as low as 620 qualify for VA loans
Learn more about VA Loans
- VA Loan Learning Center
- Know Your Mortgage: VA Loan
- History of VA Loans
- Top 10 VA Loan Myths & Facts
- VA Loan Certificate of Eligibility – What Is It and How Do You Get It?
- VA Loans for Buying a Home
- VA Loan Funding Fee Explained
- Understanding the VA Loan Appraisal Process
- Refinancing With VA Loans
- 3 Things I Learned Refinancing My VA Loan
Tyler was extremely helpful in assisting us to determine the type and length of our mortgage. He careful reviewed and explained...
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Quicken Loans was very helpful in getting the information required for a VA loan.
Read this Review
“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 $200,000, 30-year fixed-rate loan at 4.25% and 70% loan-to-value (LTV) is $983.88 with 0.625 Points due at closing. The Annual Percentage Rate (APR) is 4.303%. 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 $200,000, 15-year fixed-rate loan at 3.375% and 70% loan-to-value (LTV) is $1417.52 with 2.125 Points due at closing. The Annual Percentage Rate (APR) is 3.688%. 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.
You’ve earned the right to home loan savings! Call (800) 251-9080 or fill out the form to get started now.
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