current va mortgage rates

current va mortgage rates

Current VA Mortgage Rates: A Comprehensive Overview (as of January 9, 2024)

National Averages:

  • 30-Year Fixed-Rate Purchase Loan: 6.15% (down from 6.16% last week)
  • 30-Year Fixed-Rate Refinance Loan: 6.16% (up from 6.14% last week)

Factors Affecting Your Rate:

  • Loan Term: Shorter terms typically have lower rates than longer terms.
  • Loan Amount: Jumbo loans (above conforming loan limits) generally have higher rates.
  • Credit Score: Higher credit scores qualify for lower rates.
  • Down Payment: Larger down payments can lower your rate.
  • Debt-to-Income Ratio (DTI): Lower DTI ratios qualify for lower rates.
  • Location: Rates can vary slightly by region.

Current Rates by Loan Type:

  • 20-Year Fixed VA Purchase: 5.75%-6.31%
  • 30-Year Fixed VA Jumbo Purchase: 6.25%-6.64%
  • 15-Year Fixed VA Purchase: 5.37%-5.82%
  • 5-Year ARM: 7.78% (down from 7.82% last week)

Where to Find VA Loan Rates:

  • Online mortgage lenders: Rocket Mortgage, Quicken Loans,
  • Traditional banks and credit unions
  • Military-specific lenders: Veterans United Home Loans, Navy Federal Credit Union

current va mortgage rates

Additional Resources:


  • These are just averages, and your individual rate will vary depending on your specific circumstances.
  • Shopping around and comparing rates from different lenders is essential to getting the best deal.
  • Consider using a mortgage rate calculator to estimate your monthly payment based on different interest rates and loan terms.

I hope this information provides a comprehensive overview of current VA mortgage rates. Please let me know if you have any other questions!

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