VA 15-Year Fixed Mortgage Rates
Own your home in half the time. A 15-year VA loan builds equity fastest and costs the least in total interest, in exchange for a higher monthly payment. With full entitlement, many VA buyers can put $0 down and pay no monthly PMI.
Monthly payment
Highest of the three terms
It also counts toward your debt-to-income ratio when you apply.
Total interest
Lowest of the three terms
You borrow for half the time of a 30-year loan.
Payoff
180 payments
Free and clear in half the time of a 30-year loan.
A good fit if…
- You have strong, stable income and low other debts.
- You want to build equity quickly and minimize total interest.
- You’d like to own your home free and clear before retirement.
Think it through if…
- The higher payment can limit how much you qualify for.
- You want more monthly breathing room. Some veterans take a 30-year loan and pay extra instead, since VA loans have no prepayment penalty.
VA loan terms side by side
Every term can be a VA loan. Here is how they compare in general. Your own estimate shows the exact numbers.
| Term | Monthly payment | Total interest | Equity builds | Often a fit for |
|---|---|---|---|---|
| 30-year | Lowest of the three | Highest of the three | Slowest | Keeping payments low and room in your budget |
| 20-year | In the middle | In the middle | Moderate | Balancing interest savings with a manageable payment |
| 15-year | Highest of the three | Lowest of the three | Fastest | Strong income and a goal of owning your home sooner |
What sets your VA rate
We don’t post one number here, because your rate depends on you and a posted number can be out of date by the afternoon.
- Your credit profile and overall financial picture.
- The loan amount and any down payment.
- The loan term you choose.
- The property and how you’ll use it.
- Points and credits, if you choose to buy the rate down.
- The market on the day you lock.
$0 down
With full entitlement, many VA buyers can finance 100% (closing costs still apply).
No monthly PMI
VA loans have no monthly mortgage insurance. A one-time funding fee may apply unless you’re exempt.
No prepayment penalty
Pay extra toward principal any time and shorten your loan without a fee.