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.
Conventional benchmark: Freddie Mac weekly survey
Week of August 20, 2026Source: Freddie Mac Primary Mortgage Market Survey via FRED, updated August 20, 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. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
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 rate-lock index (OBMMI)
Updated daily by providerIndex data © Optimal Blue, LLC. Optimal Blue Mortgage Market Indices.
Source: Optimal Blue Mortgage Market Indices (OBMMI), updated August 26, 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.
Daily index — see the "30 Yr. VA" row
Updated daily by providerSource: Mortgage News Daily rate index, updated August 26, 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.