VA Loans
VA Loan Rates Today - 0% Down, No PMI
VA loans offer 100% financing, no monthly mortgage insurance, and among the lowest rates on the market. Rate Direct shows live wholesale VA pricing from hundreds of lenders - no personal info required, $2,000 Best Price Guarantee on qualifying loans.
VA Loan Facts
- Available to eligible veterans, active-duty military, and surviving spouses
- No down payment required - 100% financing available
- No private mortgage insurance (PMI) ever required
- VA funding fee applies (2.15% first use, 3.3% subsequent) - can be financed; exempt for disabled veterans
- No maximum DTI, but 41% is the benchmark; higher allowed with residual income
- Certificate of Eligibility (COE) required to verify service
- Primary residence only - must certify intent to occupy
- No loan limits for borrowers with full entitlement
VA Loan Advantages
0% down
100% financing - the only mainstream loan that requires no down payment for qualifying borrowers.
No PMI
No monthly mortgage insurance, ever. Just a one-time funding fee at closing.
Reusable benefit
Once paid off (or with sufficient entitlement remaining), you can use your VA benefit again.
Streamlined refi
The VA IRRRL lets you refinance with minimal documentation and no appraisal in most cases.
Frequently Asked Questions
What is a VA loan?+
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, available to qualifying veterans, active-duty service members, National Guard, Reservists, and certain surviving spouses. VA loans require 0% down, no PMI, and offer some of the lowest mortgage rates available.
What is the VA loan rate today?+
VA loan rates change throughout the day with the bond market. The pricer above returns live wholesale VA rates for your specific scenario. No personal info, no credit pull - just live pricing.
How much down payment do I need for a VA loan?+
$0. VA loans are 100% financing - zero down required. You can put money down to lower the funding fee or reduce the loan amount, but it is not required.
Do VA loans have mortgage insurance?+
No PMI. Instead, VA loans have a one-time VA funding fee (1.25% to 3.3% of loan amount depending on down payment and prior VA loan use). The funding fee can be financed into the loan and is waived for veterans with service-connected disabilities.
What credit score do I need for a VA loan?+
The VA has no published minimum credit score, but most lenders impose an overlay of 580-620. Some wholesale lenders go down to 550 with compensating factors. The pricer above lets you select your FICO bracket so you see exactly what each lender offers.
Is there a loan limit on VA loans?+
No. As of 2020, the VA eliminated the loan limit for full-entitlement veterans. You can borrow whatever the lender will approve based on income, credit, and DTI. Partial-entitlement veterans still have a county-based cap.
Is the $2,000 Best Price Guarantee available on VA loans?+
Yes. The Loan Factory $2,000 Best Price Guarantee covers qualifying VA loans of $200,000+ alongside Conventional and FHA. Program rules apply.
Apply for a VA loan
0% down, no PMI, $0 origination, and the Loan Factory $2,000 Best Price Guarantee on qualifying loans.
Start my applicationVA IRRRL streamline refi
Streamlined refinance, no appraisal
First-time buyer rates
Programs and pricing for first-timers
$2,000 guarantee
VA loans qualify