The table above is the site's dated rate table. It carries the date it was last checked. If that date is more than a week old, treat it as a trend, not a quote.

VA does not publish an interest rate because it does not set one. Its funding fee and closing costs page says: "Your home loan lender will determine these details of your loan: interest rate, discount points, other closing costs," and "these details may vary from lender to lender." There is no single "VA rate," only the range lenders offer on a given day.

The estimator works from that range. You enter a credit band, loan purpose, loan amount, down payment, state and funding-fee status. It starts from the public weekly benchmark, applies the kinds of adjustments lenders make for credit, loan-to-value and loan type, and shows a range. It does not pull your credit and it is not an offer.

The public benchmark. The Freddie Mac Primary Mortgage Market Survey (PMMS) is the number news reports quote. It is released every Thursday at 12 p.m. Eastern and averages 30-year and 15-year fixed rates from applications submitted to Freddie Mac the prior week. Two cautions: it covers conventional conforming loans, not VA loans, and it is an average of rates offered. Use PMMS to see which way rates are moving, not to predict your quote.

What moves your rate. Five inputs explain most of the gap between two veterans' quotes on the same day:

1. Credit score. VA sets no minimum score, so the pricing tiers are each lender's own. A higher score lands in a cheaper tier.
2. Loan-to-value (LTV) ratio. A VA purchase loan allows no down payment when the price is not above the appraised value. Zero down is an LTV of 100%, and some lenders price that higher than a loan with equity.
3. Discount points. A point is 1% of the loan paid up front for a lower rate. Two quotes with different points are not comparable until you line up the points.
4. Loan type. Purchase, Interest Rate Reduction Refinance Loan (IRRRL) and cash-out refinance are underwritten and priced differently. The IRRRL is the streamlined option for an existing VA loan; the cash-out is a full new loan against your equity. The refinancing benefits guide compares the two; the IRRRL streamline refinance guide covers the streamline rules.
5. Lender margin and lock period. Each lender adds its own margin, and a longer rate lock usually costs more.

The estimate tells you whether a quote is in the normal range for your profile. It cannot tell you the cost of the loan. For that you need 2 more numbers.

Rate versus APR: where the funding fee goes. The interest rate is the price of borrowing the principal. The annual percentage rate (APR) adds the up-front costs of the loan and spreads them over its life. Under Regulation Z, 12 CFR 1026.4(b)(5), charges for "any guarantee or insurance protecting the creditor against the consumer's default" are finance charges. The VA funding fee is exactly that, so it is built into the APR. A VA loan can show a lower rate than a conventional loan and an APR that is closer than you expected.

The funding fee is set by statute and does not vary by lender:

Source: https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/, effective April 7, 2023.

You pay no funding fee if you receive VA compensation for a service-connected disability, are a surviving spouse receiving DIC, have a pre-discharge rating, or are on active duty with a Purple Heart. On a 2.15% fee that exemption changes the APR noticeably, so tell the estimator and every lender your status. The VA home loan guide has the full fee and exemption rules, and the funding fee tax deduction page covers what happens at tax time.

How to compare Loan Estimates. Within 3 business days of your application, each lender must give you a Loan Estimate, a standardized 3-page form. The Consumer Financial Protection Bureau (CFPB) suggests comparing the origination charges and the Comparisons box on page 3, which shows APR and Total Interest Percentage for every lender in the same format. On a VA loan also check for a 1% flat origination fee, which VA says many lenders charge. VA's own advice on the home buying process: "Lenders offer different loan interest rates and fees, so shop around."

Watch out: VA warns on its cash-out page to be wary of lenders advertising "very low interest rates or other terms that sound too good to be true." A rate far below the table above usually comes with points, a short lock or a loan type you did not ask for. Read the Loan Estimate before you say yes.

What the estimate skips. It does not check eligibility; only a Certificate of Eligibility does that, so start with the COE guide or the eligibility wizard. It does not know your county loan limit or remaining entitlement, which matter above the 2026 conforming limit. And it cannot tell you when to lock. Nobody can. A lock protects you from a rise during underwriting and gives up a fall. Lock when the payment works for you.

Compare block. Below this page you may see a "Compare" block listing VA-approved lenders. Those lenders pay Veterans Alliance when you contact them through it. That does not change anything written above, and any VA-approved lender can make you a VA loan. Details are on the advertising disclosure page.

Many state housing finance agencies run their own veteran mortgage products: below-market fixed rates, rate buydowns, and down-payment or closing-cost help that can pair with a VA-guaranteed loan. Some states also offer a property-tax exemption tied to a VA disability rating, which lowers the escrow part of the payment. Select your state to see what applies.