How much does a VA loan cost?

A VA loan’s cost typically includes standard closing costs — such as appraisal fees, lender charges and title services — plus a VA funding fee. The funding fee ranges from 1.25% to 3.3%, depending on factors like your down payment and whether it’s your first VA loan, though some borrowers are exempt.

Are VA refinance rates different from VA purchase rates?

Yes, they can differ, and VA loan refi rates are sometimes higher than purchase rates. Keep in mind that refinancing an existing mortgage, even if you're getting a lower interest rate, will incur a whole new set of closing costs.

Should I lock in my VA mortgage rate?

As the name suggests, a rate lock freezes the rate for a period of time — usually 30 to 60 days, though some lenders may offer longer terms. Longer rate locks may involve a fee. Locking in your rate can make sense when current rates are volatile or trending upward, since they can protect you from increases while your loan is being processed. If rates are falling steadily, however, you may want to wait or lock in the rate with a float-down option if available.

Compare current VA loan rates

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Updated on Jul 04, 2026

On Saturday, July 04, 2026, the national average 30-year VA loan APR is 6.39%. The average 30-year VA refinance APR is 6.17%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

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Showing results for: Single-family home, 30 year fixed and 5 year ARM mortgages with all points options.

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Alliant Credit Union 30 Year Va

NMLS #197185

Rate as of 7/4/26: 5.250%
APR: 5.500%
Points: 1.495
Monthly payment: $1,944
Upfront costs: $9,6628 year cost: $143,821
Customer score

Mutual of Omaha Mortgage 30 Year Va

NMLS # 1025894

Rate as of 7/4/26: 5.250%
APR: 5.602%
Points: 1.949
Monthly payment: $1,944
Upfront costs: $13,4988 year cost: $147,657
Customer score

Tomo Mortgage 30 Year Fixed

NMLS #2059741 | State Lic: RM.804811.000

Rate as of 7/4/26: 5.375%
APR: 5.606%
Points: 1.927
Monthly payment: $1,976
Upfront costs: $8,4838 year cost: $150,158
Customer score

Sage Home Loans 30 Year Va

NMLS #3304 | State Lic: RM.850026.000

Rate as of 7/4/26: 5.490%
APR: 5.747%
Points: 1.512
Monthly payment: $2,021
Upfront costs: $9,7898 year cost: $150,646
Customer score

Tomo Mortgage 30 Year Va

NMLS #2059741 | State Lic: RM.804811.000

Rate as of 7/4/26: 5.490%
APR: 5.828%
Points: 1.98
Monthly payment: $2,022
Upfront costs: $12,9568 year cost: $153,813
Customer score

Third Federal Savings and Loan 30 Year Fixed

NMLS #449401

Rate as of 7/4/26: 5.790%
APR: 6.015%
Points: 2
Monthly payment: $2,063
Upfront costs: $8,4358 year cost: $162,094
Customer score

Mutual of Omaha Mortgage 30 Year Fixed

NMLS # 1025894

Rate as of 7/4/26: 5.875%
APR: 6.077%
Points: 1.507
Monthly payment: $2,082
Upfront costs: $7,5438 year cost: $163,588
Customer score

Sage Home Loans 30 Year Fixed

NMLS #3304 | State Lic: RM.850026.000

Rate as of 7/4/26: 5.875%
APR: 6.085%
Points: 1.805
Monthly payment: $2,082
Upfront costs: $7,8488 year cost: $163,893
Customer score

Alliant Credit Union 30 Year Fixed

NMLS #197185

Rate as of 7/4/26: 5.875%
APR: 6.086%
Points: 1.968
Monthly payment: $2,082
Upfront costs: $7,8778 year cost: $163,923
Customer score

Third Federal Savings and Loan 5/1 Arm

NMLS #449401

Rate as of 7/4/26: 5.940%
APR: 5.793%
Points: 1
Monthly payment: $2,097
Upfront costs: $4,9158 year cost: $171,877
Customer score

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Weekly national VA mortgage interest rate trends

Current mortgage rates

30 year fixed VA

6.29%

Today's national VA mortgage interest rate trends

For Saturday, July 04, 2026, the national average 30-year VA mortgage interest rate is 6.35%, up compared to last week’s of 6.29%. The national average 30-year VA refinance interest rate is 6.14%, down compared to last week’s rate of 6.42%.

While these rate averages regularly fluctuate, they can help you identify changes in the market. The specific rate you’re offered depends on a number of factors, including your individual credit and finances.

Current VA loan interest rates

Because VA loan interest rates are tied to the 10-year Treasury bond yield — which has risen since the start of 2026 — VA loans may be slightly less competitive compared to conventional mortgages in the coming months. This is due to a number of economic factors such as geopolitical unrest and decisions by the Federal Reserve.

That said, VA loan interest rates do historically sit slightly lower than rates for conventional mortgages. Combined with the multiple benefits of borrowing a VA loan, including a lower down payment and flexible credit requirements, these are still a strong option for current and former service members who qualify.

When you’re ready to start, shop rates with multiple lenders. You may be able to find a VA loan at a much lower interest rate than a conventional mortgage. The best decision will be based on your personal finances and the offers you receive. Weigh both the interest rate and any additional costs or fees to determine the right course of action for your situation.

Bankrate’s mortgage rates include national rate and APR averages; Bankrate Monitor (BRM) National Index rate averages; and “top offers”:
- National rate and APR averages: Displayed as daily and weekly averages, these rates and APRs are primarily collected from the 5 largest banks and thrifts across hundreds of markets in the U.S.
- Bankrate Monitor (BRM) National Index rate averages: Reported weekly, this long-standing survey collects rates from banks and thrifts across hundreds of markets in the U.S.
- “Top offers”: Displayed daily and weekly, these are an average of the rates listed first on our rate tables as advertised by our partners. The averages shown are based on the loan type and term selected.
You can compare national average mortgage rates to top offers to see how much you could save when shopping on Bankrate.

Learn more about how we collect, display and report mortgage rates.

How to shop for a VA loan

The first step when shopping for any loan is to compare it against other types of mortgages. Once you know that a VA loan is the best option, these tips can help you get started with the shopping process.

Confirm your service is eligible. To apply for a VA loan, you will need a Certificate of Eligibility (COE). This confirms you are eligible for a VA loan as an active member of the military or as a veteran who meets the minimum service requirements set by the VA.
Know your credit score and finances: While VA lenders aren’t as strict as other types of lenders, a score above 620 gives you the most options and access to competitive interest rates. Other aspects of your finances, like current debts and income, will also play a role in the VA loan you qualify for.
Find a lender that prioritizes VA loans: Not all lenders offer VA loans, and for those that do, VA loans only make up a small percentage of business. Work with a lender that knows VA loans well and is able to offer a competitive rate alongside expert advice.
Shop around: The VA itself doesn't directly offer VA loans. Because they are offered by individual mortgage lenders and backed by the VA, rates can vary widely between lenders, so shop rates with at least three lenders — including lenders that offer traditional mortgage loans. You may be able to find a good offer even if it’s not a mortgaged backed by the VA.
Check out online reviews: Some VA lenders may have stellar reputations for customer service, but others not so much. You can learn more about individual lenders by reading lender reviews on Bankrate.

Learn more: How to get a VA loan

Keep in mind: Your interest rate and your APR (annual percentage rate) are two different measurements of the cost of borrowing. Because your APR takes into account your interest rate and the cost of required fees, it better reflects the total cost of the loan.

Pros and cons of VA loans

The pros of VA loans

No down payment required: This is the big benefit. While conventional loans require a minimum of 3% down — and FHA loans require 3.5% down — you may be able to qualify for a VA loan with no down payment.
More flexible requirements: VA loans don’t have a set minimum credit score. Though many lenders look for a score of 620 or better, other lenders may accept a lower score. VA loans may also have more lenient debt-to-income (DTI) ratio requirements, making it easier to get a mortgage if you’re carrying other debt.
VA loans are assumable: If you choose to sell your home later, a buyer can assume (or take over) your exact VA loan and its interest rate. In a tough market, this could make your home more marketable to buyers.

The cons of VA loans

Funding fee: While you save on a down payment and monthly PMI, most borrowers must pay an upfront funding fee, although veterans with a 10% disability rating typically have this fee waived. You can roll this fee into the loan, but it will increase your overall debt and the total interest you pay.
Slower equity growth: Buying a home with 0% down means you start with zero equity. If your home value drops and you need to sell the house, you may be underwater on your mortgage, which means you owe more than what the home is worth. In addition, the way these loans amortize, you pay more interest first, which means your equity grows much slower in the first several years.

VA loans vs. conventional loans

VA loans and conventional loans can both help you purchase a home, but there are differences to be aware of. For example, VA loans have no minimum down payment requirement and can be used only for primary residences, while conventional loans require at least 3% down and may also be used for investment or vacation homes.

In addition, conventional loans require the borrower to pay private mortgage insurance (PMI) if the down payment is less than 20% of the home's price. VA loans don't require any mortgage insurance, even with no down payment — but they do require paying a funding fee, typically ranging from 1.25% to 3.3% of the loan amount.

Here’s an example of some of the costs associated with a VA loan versus a conventional loan. Keep in mind that interest rates are dependent on the market and the borrower's creditworthiness.

	30-year fixed VA loan	30-year fixed conventional loan
Home price	$400,000	$400,000
Down payment	0%	3% ($12,000)
Loan amount	$400,000	$388,000
Interest rate	6.51%	6.56%
Monthly mortgage payment (principal and interest)	$2,531	$2,468
Interest total over 30 years	$511,125	$500,391
Cost total	$911,125	$888,391

Note: These mortgage interest rates are as of June 1, 2026. The figures do not include the VA funding fee, mortgage insurance, homeowners insurance, property taxes or other costs that might be included with your monthly mortgage payment.

Ask the Experts

If you qualify for both a conventional and VA loan, which should you choose?

Melissa Cohn

Regional Vice President, William Raveis Mortgage

"VA loans offer a buyer the ability to get 100% financing, allow for a lower credit score and can be more flexible on debt-to-income ratios. The mortgage rate can be lower as well, and if the veteran has a disability, the funding fee can be waived. They can be a better option than a conventional loan."

Stephen Kates, CFP

Bankrate Financial Analyst

"VA mortgages offer attractive benefits for eligible veterans, including up to 100 percent financing, no mortgage insurance and typically lower interest rates compared to conventional loans. However, VA loans include a separate funding fee that conventional mortgages do not. It’s important to compare the total cost of borrowing before deciding which loan option is best for you."

Frequently asked questions

A VA loan’s cost typically includes standard closing costs — such as appraisal fees, lender charges and title services — plus a VA funding fee. The funding fee ranges from 1.25% to 3.3%, depending on factors like your down payment and whether it’s your first VA loan, though some borrowers are exempt.
Yes, they can differ, and VA loan refi rates are sometimes higher than purchase rates. Keep in mind that refinancing an existing mortgage, even if you're getting a lower interest rate, will incur a whole new set of closing costs.
As the name suggests, a rate lock freezes the rate for a period of time — usually 30 to 60 days, though some lenders may offer longer terms. Longer rate locks may involve a fee. Locking in your rate can make sense when current rates are volatile or trending upward, since they can protect you from increases while your loan is being processed. If rates are falling steadily, however, you may want to wait or lock in the rate with a float-down option if available.

Next steps

How to save for a down payment

Even though you can get a VA loan with zero down, having a down payment will help you pay less fees and get a lower rate.

How to improve your credit score for a mortgage

Getting your credit score in good shape before applying for a mortgage will increase the likelihood that you qualify and could land you a better interest rate.

What you need for preapproval

If you’re ready to start shopping, you need to get preapproved. Here’s a list of everything you need to get the process rolling.

First-time homebuyer guide

If you’re buying your first house, this guide will walk you through everything you need to know about the process.

Meet our Bankrate experts

Written by

Andrew Dehan Andrew Dehan

Former Senior Writer, Home Lending

Compare current VA loan rates

Don't be like the 90% of buyers who overpay

VA loan rates today

How Bankrate works

How Bankrate works

Compare rates

Tell us the basics

Get matched and receive funding

Weekly national VA mortgage interest rate trends

Today's national VA mortgage interest rate trends

Current VA loan interest rates

How Bankrate collects mortgage rates

How to shop for a VA loan

Pros and cons of VA loans

The pros of VA loans

The cons of VA loans

VA loans vs. conventional loans

If you qualify for both a conventional and VA loan, which should you choose?

Frequently asked questions

How much does a VA loan cost?

Are VA refinance rates different from VA purchase rates?

Should I lock in my VA mortgage rate?

Next steps

Meet our Bankrate experts

Mortgage rates in other states