There is no single VA-set mortgage rate: private lenders set rates, points, and closing costs, and a borrower’s offer depends on the loan and borrower. As dated reference points, Veterans United Home Loans listed a 30-year fixed purchase example at 6.250% interest, 6.703% APR, and 1.688 discount points on September 12, 2026; Bankrate reported national average APRs of 7.24% for 30-year VA loans and 7.27% for 30-year VA refinances on October 3, 2026. Those are different kinds of figures—not equivalent offers or promises of the rate you will receive.
Current published VA rate examples
These figures are snapshots from their publishers, not a universal VA rate. Mortgage pricing can change frequently, so verify a page’s current figures and date before relying on it.
| Publisher and date | Loan example | Published figure | What it represents |
|---|---|---|---|
| Veterans United Home Loans, September 12, 2026 | 30-year fixed VA purchase | 6.250% interest; 6.703% APR; 1.688 discount points | A lender-specific example for a single-family primary residence, assuming a 720 credit score and the lender’s other stated eligibility, fee, and lock assumptions. View Veterans United’s rate page. |
| Bankrate, October 3, 2026 | 30-year VA loan; 30-year VA refinance | 7.24% average APR; 7.27% average refinance APR | National average APRs based on Bankrate’s survey of large mortgage lenders, rather than a particular borrower’s quote. View Bankrate’s VA rate page. |
The Veterans United entry is a scenario-specific lender example that includes an interest rate, APR, and points. Bankrate’s figures are survey averages expressed as APR. APR includes certain loan costs in addition to interest, so neither the Bankrate averages nor the Veterans United example should be compared as though they were the same measure. A lender’s example also does not establish what it will offer you.
How to compare VA loan offers fairly
Request written Loan Estimates or equivalent detailed quotes from multiple lenders on the same day. Ask each lender to price the same transaction: loan amount, purchase or refinance, term, down payment, occupancy, property type, and rate-lock period. Without matched assumptions, a lower displayed rate may reflect a different loan or a higher upfront cost.
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- Set one scenario. Give each lender the same loan details and borrower information, and state the lock period you want quoted.
- Request the full price. Ask for the interest rate, APR, discount points or lender credits, lender fees, estimated cash to close, and how the VA funding fee is handled.
- Compare the written offers side by side. Record the quote date and lock period as well as the terms; do not treat a rate with discount points as equal in cost to a no-points quote.
- Confirm before locking. Ask the lender to explain any differences in fees, credits, points, or funding-fee treatment and confirm the final terms and expiration of the quote.
A comparison table can use these columns: lender; quote date and lock period; loan type and term; interest rate; APR; points or credits; lender fees; funding-fee treatment; estimated cash to close. VA’s home-buying guidance says, “Lenders offer different loan interest rates and fees, so shop around for the loan that best meets your needs.” VA home-buying process; see also VA guidance on loan rates and fees.
How the VA funding fee affects the comparison
The VA funding fee is a one-time charge on many VA-backed and direct home loans. The VA says it helps lower taxpayer cost because the program does not require a down payment or monthly mortgage insurance. Depending on the loan and circumstances, the fee may be paid at closing or financed into the loan, which changes the amount borrowed and potentially the cash needed at closing. See VA funding-fee and closing-cost guidance.
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The official funding-fee chart is labeled effective April 7, 2023. For VA-backed purchase and construction loans, it lists these rates by down payment and whether it is the borrower’s first or a subsequent use:
| Down payment | First use | Subsequent use |
|---|---|---|
| Less than 5% | 2.15% | 3.3% |
| 5% or more | 1.5% | 1.5% |
| 10% or more | 1.25% | 1.25% |
These percentages apply to the purchase and construction categories shown on the VA chart, not automatically to a refinance or every other loan type. The chart lists separate categories; check the current official page for the applicable loan category and eligibility before using a figure. VA identifies exemption categories, including borrowers receiving compensation for a service-connected disability and some eligible borrowers receiving retirement or active-duty pay instead. The complete eligibility rules are on the VA funding-fee page.
Who sets VA mortgage rates?
You obtain a VA-backed purchase loan through a private lender, not by receiving a mortgage rate directly from VA. VA states that the lender sets the interest rate, discount points, and closing costs; pricing and fees differ between lenders. VA’s purchase-loan process and loan-rate and fee guidance explain the roles.
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