What Are the Refinance Rates for a 15-Year Fixed VA Loan?

Written by Bill MacDonaldMarch 28th, 20232 minute read

VA refinance rates: 15 year fixed

VA mortgages do not require a down payment or monthly mortgage insurance — plus, VA interest rates tend to be lower than other loans.

Frequently Asked Questions About VA Home Loans and Interest Rates

Are the VA interest rates higher or lower compared to other loans?
The VA interest rates tend to be lower than other mortgages because of the government backing.

Are there points on a VA loan?
Years ago, the VA required home sellers to pay "points" on behalf of the veteran borrower. Fortunately, that requirement has been rescinded by the Veteran's Administration. The vet can obtain a lower interest rate from the lender by paying points if he or she chooses.

Are VA appraisers picky?
The VA appraiser is representing the lender, Veteran's Administration, and of course the veteran. Consequently, the appraiser will scrutinize the condition of the home and value.

Are VA home loans worth it?
No other home loan can compare to the VA loan. There is no required down payment on a VA loan, however, the lender may require a down payment on jumbo VA mortgages. The seller is permitted to pay all closing costs on behalf of the veteran.

Can a VA home loan be denied?
A VA loan can be denied for any number of reasons. For example, the veteran may have bad credit, insufficient income, or a short employment history, etc.

Can closing costs be included in a VA loan?
Allowable closing costs can be paid by the seller or veteran. Unfortunately, the closing costs must be paid at settlement.

Can I add closing costs to my VA loan?
No, unfortunately you can't add closing costs to a VA loan.

Can I roll the VA funding fee into my mortgage?
The VA allows the VA funding fee to be included in the loan.

Can you pay off a VA home loan early?
Yes, you can payoff a VA home loan without penalty.

Do VA loan rates vary by lender?
Yes, interest rates will vary between lenders.

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