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Today's national VA mortgage rate trends. For today, Thursday, September 15, 2022, the national average 30-year VA mortgage APR is 5.650%, up compared to last week's of 5.480%. The national average 30-year VA refinance APR is 5.730%, up compared to last week's of 5.560%.
VA rates are typically around 0.5 percent lower than conventional rates. Lower closing costs \u2013 The closing costs associated with a VA loan can often be less than those for other loans, since the VA limits the origination fee a lender can charge to no more than 1 percent of the mortgage.
What are the Disadvantages of a VA Loan? You May Have Less Equity in Your Home. ... VA Loans Cannot be Used for Vacation or Rental Properties. ... Seller Resistance to VA Financing. ... The Funding Fee is Higher for Subsequent Use. ... Not All Lenders Offer \u2013 or Understand \u2013 VA Loans.
The Department of Veterans Affairs (VA) doesn't set interest rates. Your lender determines the rate on your VA loan based on your unique financial situation.
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