VA 20-Year Fixed Mortgage Rates
A middle path: a lower payment than a 15-year loan, far less interest than a 30-year loan, and your home paid off ten years sooner. With full entitlement, many VA buyers can put $0 down and pay no monthly PMI.
Monthly payment
Between 30-year and 15-year
Higher than a 30-year loan, lower than a 15-year loan.
Total interest
Meaningfully less than 30-year
Fewer years of borrowing means less interest over the life of the loan.
Payoff
240 payments
Ten years sooner than a 30-year schedule.
A good fit if…
- You can afford a higher payment than a 30-year loan and want to save on interest.
- You’re refinancing a loan you’ve had for years and don’t want to restart a 30-year clock. Try our VA refinance calculator.
- You want to be mortgage-free sooner without a 15-year payment.
Think it through if…
- A higher payment can reduce how much home you qualify for.
- You want the most monthly flexibility. A 30-year loan with optional extra payments may fit better.
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We don’t post one number here, because your rate depends on you and a posted number can be out of date by the afternoon.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.