VA Home Loans & VA Loan Rates 2026
As an active-duty servicemember or veteran, it’s easier for you than others to achieve your homeownership goals. That’s because one of your most valuable benefits — the VA home loan — offers:
- No down payment requirement
- Zero monthly mortgage insurance
- Competitive interest rates
- Lenient credit guidelines
Because VA home loans are guaranteed by the federal government, VA-approved lenders (which are private companies) can lend with greater flexibility. Available to only current and former US service members or veterans (and some surviving spouses) who meet eligibility requirements, the VA home loan continues to be one of the most popular VA benefits.
Get a VA loan rate quote here (Nov 8th, 2026)
In this article:
- VA home loan benefits
- VA loan rates for 2026
- Compare VA lenders
- VA loan requirements
- VA loan certificate of eligibility
- VA home loan limits
- VA home loan calculator
- VA loans for bad credit
VA home loan benefits — no down payment, no mortgage insurance
One of the main benefits of the VA home loan is that it requires no down payment, which significantly reduces out-of-pocket expenses. This means you don’t have to spend years trying to save for a down payment while still paying rent. And, that can make a big difference. If home prices are rising quickly in your area, you can buy right away. Now, you’re a homeowner who’s benefiting from higher prices — not a renter who’s locked out of homeownership by them.
No mortgage insurance
As importantly, VA loans do not require continuing monthly mortgage insurance. Most other loan types require you to pay a significant amount each month to a private mortgage insurance company if you make a down payment of less than 20 percent of the purchase price. A VA loan eliminates that cost, freeing up that money for other expenses. To sustain the program and guarantee loans, a one-time VA funding fee is added to the loan amount. Fees range from 0% (for borrowers who are exempt) to 3.3% of the loan amount. Yours will depend on the loan type, your down payment, and whether you’ve used your VA home loan benefits before.
4 ways you can use a VA home loan
- To purchase a new or used move-in ready home
- To purchase land and finance the construction of a home
- To purchase a home and finance needed repairs
- To purchase a home and finance energy-efficient improvements
VA loan rates for 2026
VA loan rates rise and fall with the wider mortgage market. A rate you saw a few months ago may not be available today. For recent market benchmarks and tips on comparing lender quotes, see our guide to current VA mortgage rates.
Keep in mind that interest rates change daily and what you’ll qualify for will depend on factors like your credit score and interest rate type among others.
Why your rate matters
Your interest rate affects how affordable it is to own a home. A lower rate on your mortgage gives you two advantages. One, it means you increase your buying power — you can afford the payments on a bigger or nicer home. Two, you have lower monthly payments leaving you with more money each month.
VA home loan requirements
The requirements for getting a VA home loan are similar to that of other home purchase loan types, but there is some specific documentation required to prove you meet the required service history.
Service eligibility
You’ll need to meet one of the following service histories to be eligible for a VA loan. (Your discharge must be other than dishonorable. With an other than honorable, bad conduct or dishonorable discharge, you may not be eligible. VA reviews your record, and a discharge upgrade or a VA Character of Discharge review may help.) Additionally, National Guard and Reserve members can qualify with 90 days of qualifying active duty or 6 creditable years of service. Public Health Service officers, cadets of the United States Military, Air Force, Coast Guard Academy, and others may also qualify. The VA eligibility page lists every service period and its minimum.
- 90 continuous days of active duty, if you’re serving now
- Service since August 2, 1990: 24 continuous months, or the full period of your orders to active duty (at least 90 days)
- Earlier service: generally 90 days in wartime or 181 days in peacetime. From September 8, 1980, to August 1, 1990: 24 continuous months, or the full period of your orders (at least 181 days).
- You were separated from service due to a service-connected disability
- You are a qualifying surviving spouse (see below), or the spouse of a service member who is missing in action or a prisoner of war
Wartime & peacetime periods
| World War II | September 16, 1940 to July 25, 1947 |
| Korean War | June 27, 1950 to January 31, 1955 |
| Vietnam War | August 5, 1964 to May 7, 1975 (November 1, 1955 to May 7, 1975, for service in the Republic of Vietnam) |
| Persian Gulf War | August 2, 1990 to present |
| Peacetime | Any timeframe between wartime periods above. |
VA loan certificate of eligibility
There’s only one way to be 100 percent sure that you’re eligible to purchase a home with a VA loan. And that’s to receive a Certificate of Eligibility (COE) from the VA. There are two ways to obtain your COE:
- Ask your lender to obtain your COE through the VA’s eligibility website. Typically, a loan officer can obtain your COE in minutes, often without a DD-214 (if separated from service) and Form 26-1880 (request for COE), although sometimes these forms are needed. Calling a VA-approved lender is the quickest way to get your COE.
- Request your COE yourself, either online at VA.gov or by mail with VA Form 26-1880, though a mail request may take longer.
If you’re the surviving spouse of a Veteran who died in service or from a service-connected disability, you may be eligible for VA financing. You must be unmarried, unless you remarried on or after age 57 and on or after December 16, 2003. If you receive Dependency and Indemnity Compensation (DIC), complete VA Form 26-1817. If you don’t, you first apply with VA Form 21P-534EZ. The VA surviving spouse page explains both routes.
Eligible property types
VA loans can only be used for a home that you plan to keep as your primary residence. They cannot be used to obtain a rental home, investment property, or second home. They can, however, be used to purchase a two- to four-unit property if you live in one unit but rent out the rest. Homes must also meet Minimum Property Requirements (MPRs), which are standards for the condition of the home. Read more on minimum property requirements.
The VA home loan allows you to buy many types of properties, including:
- Single-family homes (non-connected)
- Two- to four-unit homes (if you live in one unit and rent out the others)
- Attached townhouses (a townhouse in a planned unit development needs no VA project approval; one in a condo project does)
- Condominiums (VA-approved projects only)
- Mobile/manufactured homes (provided the home comes with land, sits on a permanent foundation, counts as real estate, and has at least 400 square feet for a single-wide or 700 for a double-wide)
- Fixer-uppers or land (with the intent of constructing or repairing the home; the finished home must meet VA Minimum Property Requirements)
- Adapted homes for those with service-connected disabilities (special grants are available)
Get a personalized VA rate quote here (Nov 8th, 2026)
VA home loan limits — how much can you borrow?
As of January 1, 2020, there are no official limits to how much you can borrow with a VA loan if you have full entitlement. Reduced entitlement is different, for example while another VA loan is still open. Then your county’s conforming loan limit affects how much you can borrow with no down payment. The 2026 baseline limit is $832,750 in most counties.
Of course, the amount you can borrow will be determined by your ability to afford the monthly payment and other homeownership expenses.
Read more: New Law Eliminates VA Loan Limits
VA home loan calculator
The trouble with mortgage rates is they go up and down all the time. You can’t be absolutely sure what your payments will be until you lock in your rate — that happens once you’ve been approved and decide to proceed.
But, that doesn’t mean you need to go into this blind. You can get a decent estimate of your main mortgage expenses and your likely buying power using our free VA loan calculator. It provides a breakdown of your likely mortgage payment, property taxes, and homeowner’s insurance. If you’re buying a home with a homeowner’s association (HOA), then you can add in its approximate dues too.
This online tool can help you model different scenarios until you find one that suits you. So, try it with different numbers and assumptions — it’s anonymous, so you don’t have to hand over any personal data to use it.
VA home loan with bad credit
It’s easier to get a VA loan with iffy credit than to be approved for most other types of mortgages. But, that doesn’t mean everyone will qualify.
The VA itself doesn’t set a minimum credit score. But you’re not borrowing from the VA. It’s only guaranteeing your loan. You’re borrowing from a private lender and each of those can set any rules and limits it wants.
Lenders know they’re not doing you (or themselves) any favors if they give you a loan you can’t comfortably afford or easily manage. So they’ll want to reassure themselves on both points.
Credit scores
Each lender sets its own minimum credit score for a VA loan, and those minimums vary. So, if one lender turns you down, another may accept a lower score.
Credit scores are a three-digit numerical representation — based solely on your credit history — of how well you’ve managed your finances in the past. FICO scores are the most commonly used, which range from 300-850 (the higher the better).
Your credit score doesn’t just affect your ability to qualify for a loan — it affects the interest rate too. One thing’s for sure: the higher your score, the lower the mortgage rate you’re likely to be offered. If you have time, it’s worth working to get your score up.
Read more: VA Loans and Credit Scores.
Other qualifying factors
There’s another big factor that will determine whether you’re approved for a mortgage and how good a deal you’ll get. That’s your debt-to-income ratio — or DTI. If your credit score is an indicator of how responsible a borrower you’ve been in the past, your DTI suggests how comfortably you’ll be able to afford your new mortgage in the future.
Calculating your debt-to-income (DTI) ratio
Your lender will calculate your DTI in two parts. First, it’ll look at all your existing debt payments each month, including all loan installments (auto, student, personal), minimum credit card payments, and recurring commitments such as alimony or child support. It won’t look at consumables, so don’t include what you spend on food, gas, utility bills, and so on. And, ignore your rent or existing mortgage payments because they’ll end when your new mortgage is in place.
The lender will then add up the new financial commitments you’ll be taking on: mortgage payments, property taxes, homeowner’s insurance, and homeowner’s association dues if applicable. Finally, it’ll add together both those sums to come up with your total debt burden and then divide that by your gross monthly income (your income before taxes). For example, if your monthly outgoings are $1,500 and your income is $4,500, then your DTI is 33%.
VA uses a DTI of 41% as a guide, and a higher ratio can still work. Above 41%, a lender can approve a VA loan with compensating factors or residual income well above VA’s guideline. However, each lender sets its own DTI limits, so the highest DTI allowed varies by lender. Find out more on How Does DTI Affect Loan Amounts?
Get a VA mortgage rate quote by clicking here (Nov 8th, 2026)
More information about VA and non-VA loan types
There are multiple types of VA and non-VA loans available for your home purchase or refinance needs. In addition to the VA home purchase loan, there are two VA refinance options:
- VA Streamline Refinance. Otherwise known as a VA IRRRL, this loan refinances an existing VA loan on the same home. VA does not require an appraisal for it. It may fit if you want a lower rate. You need six monthly payments and 210 days since your first payment was due. A new fixed rate must be at least 0.50 percentage point below your current fixed rate. The lender must also show that you’ll recoup closing costs within 36 months.
- VA Cash-out Refinance. If you have earned equity in your home and would like to take cash out against your home’s value, the VA cash-out refinance is a great option. This loan can also be used to pay off your existing conventional, FHA, or other type of mortgage.
Non-VA Loans
If you don’t qualify for a VA loan, here are some options that may better suit your buying or refinancing needs:
- FHA Home Loan. Intended for those looking to purchase a home with as little money down as possible. The FHA loan requires only a 3.5% down payment.
- Conventional Purchase Loan. Best for home buyers with money saved for a down payment and great credit.
- FHA Refinance. One of the most affordable home loan refinance options, but works exclusively for those who currently have an FHA home loan.
- Conventional Refinance. If you don’t have an FHA home loan, there are several options available to help you save by lowering your interest rate.
I’m ready to take advantage of my VA home loan benefits
As an eligible active-duty servicemember or Veteran, a VA home loan gives you an advantage over other home buyers — you don’t need a down payment.
