Recent changes to the VA Home Loan program allow you to get much lower rates on your VA Loan when compared to a conventional loan. Plus you can now borrow up to $729,000 with $0 down.

Why VA Rates Are Lower

One of the biggest benefits of a VA Loan is the interest rate advantage a VA borrower has in the market. The interest rate on a conventional loan is driven by the applicant's credit score and down payment. In general, an applicant with a credit score below 720 on a conventional loan will see an increase in their interest rate and an applicant with a credit score below 680 will be required to put down at least 20% to secure a mortgage on the property. This is designed to offset the risk to the lender.

VA loans are backed by the government so a lender assumes much less risk if the loan defaults. This 'insurance' from the government eliminates the need for a bank to charge a higher interest rate or require a down payment as they are protected if the loan goes into default. This means a lower interest rate to you, the borrower, along with 100% financing.

What a Lower Rate Can Do For You

A lower interest rate gives you a big advantage when shopping for a home. A rate advantage can lower your monthly payment or allow you to purchase a larger home for the same monthly payment. Most people are aware of how important the rate can be, but don't fully realize how significant the savings can be, both on the monthly payment as well as a cumulative savings over the life of the loan.

VA Loans will typically have 0.5%-1% lower rate over a conventional loan. Here are some different scenarios, showing the monthly savings you can expect with a VA Loan.

The monthly savings are significant, but if you were to carry that out over the life of the loan on a 30 year mortgage, the savings are staggering.

*Estimates based the borrower putting $0 down.

Monthly savings are even more significant when you factor in no PMI requirement. A VA Loan will also allow you to borrow up to $729,000 with $0 Down. Take the next step and get connected to a VA Loan expert who can show you your options and show you what you qualify for.

Get Started with your VA Loan Request

What's Next? Are there any obligations?

Kaleb Long
VAMC Loan Officer

By simply starting the request, you are not obligated in any way and your credit will not be pulled as a result of filling out the form on our website. You are simply asking for more information. Your contact information will be sent to a VA Specialist who will contact you to go over your options.

At VA Mortgage Center.com, we work exclusively with VA Loans. Over 500,000 military families have come to us for help through the VA Loan process. See how we can help you.