VA Loans

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VA Loan Process

  • Complete our simple VA Loan Qualifier

  • Receive options depending on your criteria and scenario

  • Compare mortgage interest rates and terms

  • Get the loan program that fits your needs


Rates for Veterans, active-duty service members, and National Guard and Reserve members

First use Less than 5% 2.3%
5% or more 1.65%
10% or more 1.4%
After first use Less than 5% 3.6%
5% or more 1.65%
10% or more 1.4%

Rates for Veterans, active-duty service members, and National Guard and Reserve members

2.3% 3.6%

Other VA home loan types

Interest Rate Reduction Refinancing Loans (IRRRLs) 0.5%
Manufactured home loans (not permanently affixed) 1%
Loan assumptions 0.5%
Vendee loan, for purchasing VA-acquired property 2.25%

Other loan closing costs

Who determines my loan details?

We don’t determine most details of your home loan.

Your home loan lender will determine these details of your loan:

  • Interest rate
  • Discount points (fees you may pay to your lender at closing to get a lower interest rate on your loan)
  • Other closing costs

These rates may vary from lender to lender. You should know that adding the VA funding fee and other loan costs to your loan could lead to you owing more money than the fair market value of the home. This could reduce the benefit of refinancing since your payment wouldn’t be as low as you may want it to be. It could also make it harder for you to get enough money out of the future sale of the home to pay off your loan balance.

Who pays for which closing costs?

The seller must pay these closing costs (sometimes called “seller’s concessions”):

  • Commission for real estate professionals
  • Brokerage fee
  • Buyer broker fee
  • Termite report (unless you’re using a refinancing loan)

You (the buyer) or the seller can negotiate who will pay other closing costs such as the:

  • VA funding fee
  • Loan origination fee
  • Loan discount points or funds for temporary “buydowns”
  • Credit report and payment of any credit balances or judgments
  • VA appraisal fee
  • Hazard insurance and real estate taxes
  • State and local taxes
  • Title insurance
  • Recording fee

Note: We require that a seller can’t pay more than 4% of the total home loan in seller’s concessions. But this rule only covers some closing costs, including the VA funding fee. The rule doesn’t cover loan discount points.