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VA Loan Rates

Because VA home loans are backed by the federal government, lenders have the luxury of charging competitively low interest rates. Eligible veterans and service members find that rates are generally lower with a VA home loan than a conventional mortgage.

The VA doesn’t set interest rates. Your lender determines the rate on your VA loan based on your unique financial situation. To speak with a VA Mortgage Specialist about interest rates, call (912) 335-8591 today or get started online.

What Determines My Rate?

VA loan interest rates are influenced by a variety of factors, including:
  • Credit score
  • Debt-to-income ratio
  • Loan duration (15- or 30-year)
  • Current market conditions

Because of the risk involved in issuing a loan, a good credit score almost always means a lower rate. However, even if your credit report isn't in perfect shape, you may still have an easier time qualifying for a low rate due to the VA Guaranty.

VA Loans and APR

It is important to understand the difference between your interest rate and Annual Percentage Rate (APR). The interest rate on your VA loan is the cost you pay each year to borrow the money and does not reflect fees and charges you may incur to get the loan.

On the other hand, the APR on a VA loan is a broader reflection of borrowing costs, including the interest rate and other potential costs and fees associated with getting the loan.

APR can take into consideration the following items:

  • Interest rate
  • Origination fees and costs
  • Closing agent fees
  • Discount points
  • Other fees dependent on the specific transaction

Your APR is likely to be higher than your base VA loan interest rate. APR is a tool that can help you compare mortgage offers. But understand that lenders can calculate it differently.

Locking in Your VA Loan Rate

Once you've identified the house you wish to purchase and have entered a contract for that property, your Veterans United loan officer will help you figure out what the rate will look like. In most cases, we will have a better forecast of your rate after an underwriter has reviewed your loan and you have a general idea of your closing date.

If you're ready to get started determining your VA home loan rate, or if you have more questions, don't hesitate to get in touch with one of our experts at (912) 335-8591 or start your VA Home Loan quote online. There's no obligation, and you'll be one step closer to owning your brand new home.

Why Veterans United?

Locking in your interest rate at the right time is key, which means it's important to find a lender who understands your needs and the forces that shape VA loan interest rates.

Some lenders try to entice borrowers with unbelievably low rates that are almost impossible to qualify for. We'll work within your financial means and give you an accurate and realistic quote.

With Veterans United Home Loans, you won't be forced to pay hidden costs or locking fees. By speaking with a Veterans United loan specialist, you're guaranteed total transparency when it comes to your interest rate.

Are you a first-time homebuyer? Read our next section for more information about purchasing your first home with a VA Loan.

Speak with a Home Loan Specialist today
- or visit us at -
7302 Abercorn St. Ste. 1A, Savannah, GA 31406
A VA approved lender; Not endorsed or sponsored by the Dept. of Veterans Affairs or any government agency.