On October 6, 2026, the reported national average APR was 7.25% for a 30-year VA purchase loan and 7.28% for a 30-year VA refinance. Those are market averages, not rate quotes or guaranteed offers. The best lender for you depends on the costs and terms in your own same-day quotes.
VA loan rates today: October 6, 2026 snapshot
Bankrate reported these national averages for October 6, 2026. APR includes the interest rate and certain loan costs, so it can help compare offers, but your personal quote will depend on your loan scenario, points, fees, and borrower details.
| Loan type | Term | Reported national average APR |
|---|---|---|
| VA purchase | 30-year fixed | 7.25% |
| VA refinance | 30-year fixed | 7.28% |
These are Bankrate survey averages dated October 6, not rates available to every borrower. See Bankrate’s VA rate data for the dated rate information. Rates can change daily, and lenders price loans differently.
What lender examples show—and what they don’t
Bankrate’s October 6 rate table included a 30-year VA offer from World Home Loans at a 6.000% interest rate and 6.310% APR, with 1.773 discount points. Its listed example payment was $3,022 and upfront costs were $16,331. A separate table result showed Novum Home Loans at a 6.250% interest rate, 6.494% APR, and 1.078 points. These are distinct examples, not an apples-to-apples ranking: the costs and assumptions differ.
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- FIGURE OUT THE RIGHT LOAN: At the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or tvm calculations Find loan amount, term, interest or PITI or PI payments
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Bankrate says its displayed examples use a single-family home, a 30-year fixed term, and points options. Before relying on a payment figure, confirm the loan scenario and whether taxes and homeowners insurance are included. The listed World Home Loans example also illustrates why a low headline rate alone can mislead: discount points and upfront costs matter.
Which VA lenders are worth comparing?
Bankrate’s 2026 “best VA lenders” article says it evaluated more than 1,900 lenders—representing 87% of U.S. mortgages in recent years—and selected lenders using factors that included competitive pricing, complaints, VA experience, and closing history. Its October 6 examples include World Home Loans, Novum Home Loans, Tomo Mortgage, Sage Home Loans, and Strong Home Mortgage. Read Bankrate’s lender comparison.
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That list is an editorial starting point, not evidence that any one lender will be cheapest or best for every borrower. Bankrate also discloses that it earns a fixed fee for some live lender connections. Treat lender lists as a way to build a shortlist, then compare your own written offers.
How to compare VA loan offers fairly
Request quotes from multiple lenders on the same day, using the same loan amount, property, occupancy, term, and purchase or refinance details. Ask each lender for a written Loan Estimate. Compare the full cost—not only the advertised interest rate.
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- Interest rate and APR: The interest rate determines the scheduled interest cost; APR incorporates certain costs and is useful for comparison, but does not replace a close review of fees.
- Discount points: Points can reduce the rate in exchange for more money upfront. Check how many points are charged and whether the savings make sense for how long you expect to keep the loan.
- Lender fees and credits: Review origination charges and any lender credits, which may offset costs but can come with a higher rate.
- Cash to close: Compare the estimated amount due at closing, including your down payment, applicable funding fee, and other costs.
- Loan term and likely holding period: A lower rate with substantial upfront costs may not be the better choice if you expect to sell or refinance soon.
The U.S. Department of Veterans Affairs says it does not determine most details of a home loan: lenders set the interest rate, discount points, and other closing costs, which can vary. Certain closing-cost responsibilities may be negotiated between borrower and seller. Review VA’s funding-fee and closing-cost guidance.
VA loan eligibility and the no-down-payment question
A VA-backed purchase loan generally requires a Certificate of Eligibility (COE), compliance with VA and lender credit and income standards, and occupancy of the home. A COE documents your VA home-loan benefit; you can request one online, through a lender, or by mail using VA Form 26-1880. Check VA home-loan eligibility and learn how to request a COE.
Rank #4
- SPEAKS YOUR LANGUAGE: Keys clearly labeled in residential mortgage finance terms like Loan Amt, Int, Term, Pmt; this industry-standard calculator is super easy to use on all realty financing matters from finding a loan that works for your client to considering trust deeds investments, or finding remaining balances or balloon payments and more
- CONFIDENTLY AND EASILY SOLVE: Clients' financial questions whether they're buyers, sellers, investors or renters. Increase your perceived professionalism as a new agent, experienced broker or seasoned loan officer. Close more home sales and impress your clients with fast, accurate answers to all their real estate finance questions from PITI Payments to IRR, NPV and Cashflows
- DEDICATED BUYER QUALIFYING KEYS: Enter client's income, debt and expenses to pre-qualify them to only show properties they can afford. Include tax, insurance and mortgage insurance then compare loan options and payment solutions to give your client choices before they make an offer to buy
- FIGURE OUT THE RIGHT LOAN: For your client at the press of a button for jumbo, conventional, FHA/VA, or even 80:10:10 or 80:15:5 combo loans; check to see if ARMs or bi-weekly loans, quarterly payments or if interest-only payments are the answer; giving your client more choices; easily perform what if loan or TVM calculations find loan amount, term, interest or PITI or PI payments
- BECOME AN INVALUABLE RESOURCE: To your clients by reducing their confusion and uncertainty; ensuring they are able to make a purchase offer; knowing they can afford the down payment; and determining which is the right loan for them. Date-math for listings and contracts too. Comes with a protective slide cover, quick reference guide, pocket user's guide, long-life battery, 1-year warranty
Eligible uses include buying a home with up to four units, a VA-approved condo, or a manufactured home or lot; VA-backed loans may also support construction and certain improvements. The VA says nearly 90% of VA-backed loans are made with no down payment. That program-wide figure does not guarantee that a particular borrower qualifies for zero down, and no down payment does not eliminate closing costs or the need to meet lender underwriting standards. See the VA home-loan overview.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.Funding fees can change the total cost
The VA funding fee depends on factors including whether this is your first use of the benefit and the size of your down payment. The VA’s listed purchase and construction/permanent rates are:
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| 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% |
Some borrowers are exempt, including certain people receiving or eligible for service-connected disability compensation and qualifying surviving spouses. The fee may be paid at closing or financed into the loan. For purchase or construction/permanent loans, VA says other fees and charges cannot be financed into the loan amount. Because fee status affects borrowing cost, confirm your applicable rate and exemption with the lender and check VA’s current funding-fee guidance.
Comparing VA refinance rates and IRRRL offers
The 7.28% figure above is the reported October 6 average APR for a 30-year VA refinance; it is not a personalized quote. If you are considering an Interest Rate Reduction Refinance Loan (IRRRL), you apply through a private bank, mortgage company, or credit union, and terms and fees can vary. VA advises contacting several lenders and warns against offers promising skipped payments, extremely low rates, or suspicious terms. The listed IRRRL funding fee is 0.5%; an exemption may apply depending on eligibility. Check the VA’s funding-fee information and IRRRL guidance when assessing an offer.
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