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As compared to any other home loans, interest rates in home loans Va. is not that high. As interest rates in VA home loan varies from lender to lender, it is advisable that you research and shop around in the market.

If you manage to convince your lender that you will pay monthly installments on time, there is a good chance that lender will lower interest rates.


Before setting VA home loan rates, lender take into consideration below-mentioned factors:

  • Credit score : If your credit score is more than 650, lender will give you VA home loan at lower interest rates.
  • Monthly source of income : If you are working in a reputed firm for more than one year with your monthly income being more than $ 2,000, you will get some discount in VA home loan rates.
  • Bank statement : Lenders normally ask for your bank statement when you submit your loan application. If you have saved decent amount of money in the last three or four years, it will create a positive impression on the mind of lender.
  • Past credit record : If you are one of those who have taken loan in the last, it is recommended that you show documents to the lender which depict that you have successfully repay the loan amount on time. When you do this, lender will give you some discount in VA loan home rates.

If you are applying for VA home loan for the first time, you can get an amount in the range of $200,000. However, this amount can increase further if your credit record is good and your monthly source of income is high.

Conversely, if your credit record is not that good and your job is not permanent you will not get loan amount in the range of $200,000. To get VA home loan in low interest rates, it is of paramount importance that your credit score is good. Don’t apply for VA home loan, if that is not the case.

To improve your credit score, pay all your dues on time and go for a loan consolidation if you are dealing with three or four loans at present.