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If you’re a member of America’s military, past or present, you are entitled to a different standard of home lending, regulated by the Department of Veterans Affairs.


Millions of men and women in America proudly serve their country in the military, and millions before them, now retired, have forever earned our respect. As active duty military personnel, retired military, and war veterans, these men and women are treated with a higher level of respect than the average citizen…and deservedly so.



VA Loans and Current Laws
When it comes to VA loans, there are certain laws in place to make sure military personnel are treated better. For example, no service member has to put down any down payment in order to receive a mortgage. They don’t have to pay closing costs or earnest payments. Many aspects of VA lending are much different than normal lending.


Current Loan Rates
The current VA home loan rates are also a little different than normal rates. Of course, due to new regulations, no lender is allowed to run their prices up through the roof unexpectedly. Everyone must conform to some standard. But VA loans are generally offered with a lower APR than other loan types.


Low End vs High End
As far as nailing down the exact current rate on the low end or high end, that all depends on where you’re shopping your mortgage. For example, a company like Quicken Loans is offering VA loans for around 3% on average for qualified borrowers, and for refinancing options, the rates are even lower, around 2.3%.
Other companies follow suit, primarily because most companies are offering the same types of loan packages.


Check Sources
Checking multiple sources is undoubtedly the best you can do here. Any rate today is subject to change, so make sure you check multiple sources and also have some help from the VA to guide you through the process.


Tip:: If you go directly through the VA, you may be able to find rates even lower, or at the least you may find a slew of grant programs and other programs to help you cut costs.