VA Loan

Buy a home with no down payment if you or your spouse serve or served in the military.

VA Mortgage Rates

Legal Disclosures*

Rates shown reflect current products available with Rocket Mortgage, a provider on our network.

15-year Fixed-Rate VA Loan: An interest rate of 5.875% (6.552% APR) is for a cost of 2.00 Point(s) ($7,000.00) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,929.92. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

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.

20-year Fixed-Rate VA Loan: An interest rate of 6.25% (6.781% APR) is for a cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,558.25. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

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.

25-year Fixed-Rate VA Loan: An interest rate of 6.25% (6.702% APR) is for a cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,308.85. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

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.

30-year Fixed-Rate VA Loan: An interest rate of 6.25% (6.652% APR) is for a cost of 1.875 Point(s) ($6,562.50) paid at closing. On a $350,000 mortgage, you would make monthly payments of $2,155.02. Monthly payment does not include taxes and insurance premiums. The actual payment amount will be greater. Payment assumes a loan-to-value (LTV) of 80.00%.

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.

Assumptions

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.
Refinancing may cause finance charges to be higher over the life of the loan.
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.
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. Rocket Mortgage 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 to talk to one of our mortgage experts.
One point is equal to one percent of the loan amount.

Mortgage Rates Trends

This graph shows how weekly average mortgage rates have changed over the years.

What To Know About VA Loans

How Do I Qualify For A VA Loan?

A VA loan might be a great mortgage option if you:

Are a qualified active service member, veteran or the surviving spouse of one
Meet minimum service requirements
Can provide a Certificate of Eligibility
Have a credit score of at least 580
Have a debt-to-income ratio no higher than 41%
Plan to make the home your primary residence

How Do VA Loans Work?

VA loans are made by private lenders and guaranteed by the U.S. Department of Veterans Affairs.
This reduces the risk for lenders so they can loosen eligibility requirements.
No down payment is required if the sales price doesn’t exceed the appraised value.
Instead of buying mortgage insurance, you’ll pay a one-time funding fee.
You can often access lower interest rates and closing costs compared to other loans.
Low-cost, streamlined refinance options are available if you have trouble paying your mortgage.