What are the VA loan
rates and costs?

Some people are surprised to discover that VA loans
have competitive rates and fees.

RATES AND COSTS

VA loan rates are very competitive compared to conventional loan rates, and fees are regulated by the VA mortgage program.

$0 DOWN PAYMENT, NO PMI

What difference can a zero-down-payment loan with no private mortgage insurance make for you?

VA FUNDING FEE

The VA funding fee can be paid up front, rolled into the loan, or even waived for some borrowers.

Rates and Costs of VA Loans

You can expect this loan program to offer competitive interest rates and reasonable costs.

Limited VA Loan Fees

The Department of Veterans Affairs limits the fees that can be charged on VA home loans. Allowable fees include:

  • Origination Fee of 1%
  • VA Funding Fee (unless exempt)
  • Reasonable Interest Rate Discount Points
  • VA Appraisal Fee
  • Credit Report Fee
  • Prepaid Fees for Escrow (e.g. taxes, insurance, etc.)
  • Any Other Closing Costs (e.g. title insurance costs, recording fees, etc.)

Did you know? You or your real estate agent can ask the seller to pay most of these fees in your purchase offer. If agreed, the seller can pay up to all your closing costs and 4% concessions.

What Makes VA Loans Different?

$0 Down Payment— Most VA mortgages don’t need a down payment. Why? Government backing secures a good portion of your loan so that approved lenders like us can offer you low and no down payment options.

No PMI— Private mortgage insurance, or PMI, is never allowed on VA loans. This premium, which is required on other loans, helps secure them. The federal government backs about 25% of each VA loan, so Veterans can use their money elsewhere.