For eligible military veterans, active-duty personnel, and some surviving spouses, a VA loan remains one of the most advantageous pathways to homeownership in the United States. Backed by the U.S. Department of Veterans Affairs, this mortgage program offers low or no down payment requirements, no private mortgage insurance (PMI), and competitive interest rates compared with many conventional loans. However, mortgage rates vary across lenders and depend on borrower credit profiles, loan purpose (purchase vs. refinance), and market dynamics.
This article summarizes current VA mortgage rates in 2026, explains how they compare with other loans, and identifies some of the top VA mortgage lenders based on recent industry evaluations.
Current VA Mortgage Rates (2026 Market)
VA loans generally carry competitive interest rates compared with conventional mortgages, though actual offers vary by lender, credit score, and loan specifics.
Typical Rate Ranges (Purchase Loans)
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30-year fixed VA loan: Around 5.07% to 5.62% for purchase mortgages, according to recent national average data. These rates tend to be slightly lower than or close to conventional 30-year fixed rates in the same period.
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30-year VA refinance rates: About 5.55% to 5.83%, reflecting refinance pricing rather than purchase pricing.
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15-year fixed VA refinance: Roughly 5.83% to 6.55% for shorter-term VA loans.
These figures are averages from a cross-section of lenders and may reflect rate quotes from the past week. Actual rates vary based on borrower credit, loan size, location, and market conditions.
VA mortgage rates are often—and historically—slightly lower than conventional mortgage rates because the VA guarantee reduces lender risk and eliminates PMI. However, VA loans require a funding fee (which can sometimes be financed into the loan) that conventional loans typically do not.
Factors That Influence VA Loan Rates
Multiple factors affect the rate you are offered on a VA mortgage:
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Credit score and credit history: Higher scores typically secure lower interest rates.
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Loan amount and loan-to-value (LTV): Larger loans or higher LTV ratios can result in slightly higher pricing.
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Points and lender fees: Paying “points” up front can lower the interest rate but increases upfront costs.
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Market conditions and Treasury yields: Mortgage rates broadly follow the performance of long-term government bonds.
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Loan purpose: Purchase loans and refinance loans (especially VA’s IRRRL streamlined refinance) can have different pricing.
Veterans who refinance an existing VA loan can use a VA Interest Rate Reduction Refinance Loan (IRRRL), often at rates close to or slightly lower than current purchase VA loan products. Many borrowers report IRRRL rate offers in the mid-5% range without points—though offers vary widely.
Best VA Mortgage Lenders in the USA (2026)
Several lenders consistently receive strong ratings for competitive VA loan pricing, customer service, VA expertise, and low fees. While you should always shop multiple lenders for personalized quotes, the following names appear frequently in industry rankings and reviews:
1. Guaranteed Rate
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Ranked as a top VA lender for low lender fees and competitive pricing.
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Offers no lender fees on VA purchase and refinance loans, which can significantly lower closing costs.
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Operates in all 50 states with both online and branch support.
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Known for a relatively fast pre-approval process (1–2 days).
Why it stands out: Some of the lowest out-of-pocket costs for VA borrowers, especially for first-time VA buyers.
2. loanDepot
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Frequently listed among top VA lenders for solid overall service and rate offerings.
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Strong rating from recent surveys and independent evaluations.
Why it stands out: Good balance of competitive rates, customer support, and national availability.
3. PenFed Credit Union
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Credit unions like PenFed tend to be competitive for VA loans, especially for borrowers with solid credit and membership eligibility.
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Often offers attractive APRs and low total loan costs.
Why it stands out: A strong choice for veterans who can join or already hold accounts with PenFed.
4. Veterans United Home Loans
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Widely recognized as one of the largest VA loan originators by volume.
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Specialized VA loan expertise often translates into smoother processing and dedicated service.
Why it stands out: Reputation for focusing on veterans and providing tailored guidance, particularly for first-time VA applicants.
5. Navy Federal Credit Union & USAA
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Credit unions with a military affiliation often offer exceptional service quality and competitive rates.
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Navy Federal frequently appears near the top of lender rate surveys, and USAA is another well-regarded option among military borrowers.
Why they stand out: Deep experience with VA loans and military member-focused service.
How to Choose the Best VA Lender
When selecting a VA loan lender, consider the following:
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Interest rate vs. APR: APR incorporates lender fees and gives a more complete picture of cost than the nominal interest rate alone.
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VA expertise: Lenders with strong VA portfolios understand VA guidelines and often work more efficiently with VA appraisals and underwriting.
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Closing costs and fees: Some lenders waive or reduce origination fees for VA loans, and some sellers may contribute to closing costs.
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Customer service and communication: Especially important if this is your first VA loan application.
Be sure to get multiple loan estimates before committing. Your individual quote, including rate and fee structure, will vary from the national averages and depends on personal financial factors.
Conclusion
VA loan mortgage rates in 2026 remain competitive with average 30-year fixed rates in the low- to mid-5% range, though actual offers vary widely based on lender and borrower profile. VA loans continue to offer unique advantages—particularly no down payment and no PMI—making them an excellent choice for eligible veterans and service members. Shopping top VA lenders such as Guaranteed Rate, loanDepot, PenFed Credit Union, Veterans United, and military credit unions like Navy Federal or USAA can help you secure favorable terms and a smoother homebuying experience.
