As of today, Monday, October 3, 2022, the starting VA mortgage rate for a 30-year fixed-rate loan is 6.32% (and 6.360% APR).
It has increased from the 6.22% last week.
The 30 year VA refinance APR is 6.49% on average across the country.
Compared to last week, when it was 6.36%, it has increased.
The rate on a 15-year fixed VA loan is 6.125%, with an APR of 6.483%.
As of this morning, the 30-Year Fixed-Rate FHA has a 6.22% interest rate and a 7.07% APR.
For borrowers who meet the requirements, VA loans—available to serving or retired military personnel—can be a wonderful choice.
Because they don't demand a down payment or mortgage insurance, VA mortgages are more easily available.
Rates can differ significantly between lenders; to discover the best price, get individual quotations from at least 3-5 lenders.
You don't have to worry about saving for a down payment with these loans, which makes them particularly appealing for first-time home purchasers.