current va loan rates: what to know before you lock

What shapes today’s numbers

VA loans often price below comparable conventional mortgages because of the VA guarantee, yet market forces still rule. Lenders peg quotes to Treasury yields and mortgage-bond spreads, then adjust for lock period, loan size, occupancy, and whether you pay discount points. Your profile matters, too: while VA is forgiving, lenders may price for credit, debt-to-income, and residual income. The mandatory funding fee (often financed) doesn’t change the note rate, but it will affect APR and total cost.

• Shop same-day quotes from at least three VA-approved lenders.
• Ask for the par rate (0 points) and the cost to buy down.
• Match lock terms (30 vs. 45 days) across quotes.
• Compare all-in costs: lender fees, credits, and APR.
• Check jumbo VA price add-ons and county loan limits.

Reading a quote

The note rate shows monthly payment; APR bakes in fees. Small point costs can move rates meaningfully, so calculate break-even time before buying down. If you’re exempt from the funding fee (e.g., qualifying disability), your APR may drop noticeably.

Pro tip

Lock when pricing improves, but ask about a float-down option; if rates dip before closing, it can capture savings without restarting underwriting.