Updated October 22, 2026

VA Loan Rates

How VA home loan rates are set, why they tend to be competitive, and how the funding fee and eligibility rules affect veterans and service members.

Today's national rate averages, all programs

Index as of October 22, 2026 close

30-year fixed conventional

7.30%

−0.10 on the day

15-year fixed conventional

6.96%

daily index

30-year fixed FHA

6.92%

daily index

30-year fixed VA

6.94%

daily index

Freddie Mac weekly survey: 7.32%, survey dated Oct 22. A weekly national survey of purchase applications, so it lags the daily index above.

Source: Mortgage News Daily rate index, as of the October 22, 2026 close. National index averages, not an offer. Your rate will depend on credit score, loan-to-value, loan type, property and occupancy. Rates could change or not be available at commitment or closing.

How VA Loan pricing relates to this benchmark. Freddie Mac's survey covers conventional conforming loans only, so the figures above are a benchmark rather than a VA rate. VA note rates are quoted separately and are often below the conventional survey because of the VA guaranty; VA loans carry a one-time funding fee (waived for many disabled veterans) and no monthly mortgage insurance. The "30 Yr. VA" row in the daily index below is the closest published national figure.

Daily index, see the "30 Yr. VA" row

Updated daily by provider

Source: Mortgage News Daily rate index, updated October 22, 2026. National average survey rates, not an offer. Your rate will depend on credit score, loan-to-value, loan type, property and occupancy. Rates could change or not be available at commitment or closing.

How VA Loan rates are set

VA loans carry a partial guaranty from the U.S. Department of Veterans Affairs and are available to eligible veterans, active-duty service members, certain National Guard and Reserve members and some surviving spouses. The guaranty allows private lenders to offer 100 percent financing with no monthly mortgage insurance, which is the program's defining advantage.

VA rates are usually among the most competitive of any loan type. Like FHA loans, VA loans are pooled into Ginnie Mae securities that carry a government guarantee, so the underlying yield is slightly lower than for conventional MBS. VA pricing also has minimal adjustments for credit score, so borrowers with mid-range scores often see a larger benefit compared with conventional financing.

Instead of mortgage insurance, most VA borrowers pay a one-time funding fee that is typically financed into the loan. The fee varies with the down payment amount and whether it is the borrower's first use of the benefit. Veterans receiving VA disability compensation and certain surviving spouses are exempt. Because the fee is a single upfront cost rather than a monthly charge, the VA monthly payment is often lower than FHA or conventional at the same rate.

The VA does not set a maximum loan amount for borrowers with full entitlement, though lenders apply their own limits and underwriting. Borrowers with partial entitlement (for example, an existing VA loan they still hold) may face a cap tied to the county conforming limit. The property must be the borrower's primary residence and must meet VA minimum property requirements at appraisal.

Existing VA borrowers can lower their rate through the Interest Rate Reduction Refinance Loan (IRRRL), a streamlined refinance with reduced documentation and a lower funding fee. Florida has one of the largest veteran populations in the country, and VA loans are common in metros with military installations such as Tampa, Jacksonville and Pensacola.

Rates shown could change or may not be available at commitment or closing.

VA Loan Rates: common questions

Are VA rates lower than conventional rates?

VA rates are frequently lower, and the absence of monthly mortgage insurance often makes the monthly payment lower still. Compare the full payment including the funding fee, not just the note rate.

Is there a VA loan limit?

Borrowers with full entitlement have no VA-imposed limit. Borrowers with remaining entitlement from another VA loan may be limited by county loan limits. Lenders set their own maximums.

Who is exempt from the VA funding fee?

Veterans receiving VA disability compensation, certain surviving spouses and Purple Heart recipients on active duty are generally exempt. Your Certificate of Eligibility shows your status.

Can I use a VA loan more than once?

Yes. Entitlement can be restored after a prior VA loan is paid off, and in some cases a borrower can hold two VA loans at once using remaining entitlement.

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All loan programs

30-Year Fixed Mortgage RatesThe most common conventional mortgage. Stable payment over 30 years.15-Year Fixed Mortgage RatesConventional loan with a lower rate, higher payment and much less total interest.FHA Loan RatesGovernment-insured loans with flexible credit and 3.5% down.Jumbo Loan RatesLoans above the conforming limit for higher-priced homes.Adjustable-Rate Mortgage (ARM) RatesLower initial rate for a fixed period, then adjusts with the market.Refinance RatesReplace your current loan with a new rate or term.Cash-Out Refinance RatesBorrow against equity by refinancing into a larger loan.DSCR Investment Property Loan RatesInvestor loans qualified on the property's rent, not your tax returns.Bank Statement Loan RatesSelf-employed financing based on 12 or 24 months of deposits.Condo Mortgage RatesCondo pricing, project approval and Florida-specific issues.Rate Buydowns: Temporary (2-1) and PermanentPay upfront, usually via seller credit, to lower the rate.Mortgage Rates by Credit ScoreHow the 620 to 780+ tiers change what you pay.