Getting a mortgage makes it possible to buy a house worth hundreds of thousands of dollars — more money than most of us ever have readily available as cash. This single piece of financing probably represents one of the biggest money decisions you’ll make in your life. 

Fortunately, if you’re eligible for a VA loan, you’ll see some financial upside. You should be able to qualify for a lower interest rate on your mortgage, and you probably won’t need to put any money down.

To make sure you’re capitalizing on the best option for your needs here, compare current VA loan rates. Rate comparison can save you thousands of dollars over the life of your loan. 

Want to get started? Here’s your guide. It helps you move through different ways to compare current VA loan rates depending on how close you are to buying. 

Early days: Checking rate tables to refine your VA lender search

If you’re just starting to think about buying a house, you have an easy way to compare current VA loan rates. Certain websites have done all the work for you by delivering what they call VA loan rate tables. 

These are particularly helpful with VA loans because not all lenders offer these kinds of mortgages. By looking at tables that focus on showcasing current VA loan rates, you can be sure you’re seeing options that will actually work for you. 

A strong rate table should give you an idea of what’s on offer in terms of:

• VA loan rates
• Annual percentage rates (APRs), which show the yearly cost of the loan including interest and fees
• Estimated monthly payments
• Upfront costs, like what you’ll need to pay at the closing table

The best VA loan rate tables also let you input your specific parameters, like how much you want to borrow and your zip code, to make sure you’re getting accurate info. 

If it’s early days but you think you might want to buy a house sometime soon, don’t wait. Start getting a feel for what’s generally available in terms of current VA loan rates. This way, once you find a house you like, you’ll be ready to dive into the next round of mortgage comparison. 

Digging deeper: Getting personalized quotes with current VA loan rates

As you get more serious about buying a house, it’s time to go a step further. Reach out to lenders and ask for a personalized rate quote. This helps you get a clearer idea of the current VA loan rates that are truly available to you. 

Mortgage data shows that requesting four or more quotes helps borrowers save more than $1,200 a year. We recommend getting at least six quotes. 

What you need for a solid personalized quote

Getting six quotes might sound like a lot, but this is usually pretty quick and easy in the modern age. A lot of lenders offer free, fast rate quotes online. 

To get the quote, you probably want to have the following info handy:

• Your certificate of eligibility (COE)
• Your income 
• Your assets (e.g., the amount you have in savings, any investments)
• Your estimated or actual credit score
• The purchase price of the home you want to buy
• Its zip code
• How much money you plan to put down, if any
• The loan term you want (i.e., how long you’ll have to repay the loan, usually 15 or 30 years)
• The type of loan you want (i.e., a fixed-rate or adjustable-rate mortgage [ARM])
• Info on your monthly debts (e.g., car payments, student loans, minimum required credit card payments, alimony)

With this info readily available, it shouldn’t take you more than a few minutes to request a personalized quote from the VA lender. 

Tips for getting quotes for current VA loan rates

As you reach out for personalized quotes, make sure you’re using the same information across your requests. Some lenders will ask for a dollar amount for the down payment field, while others will ask for a percentage. Just make sure the math checks out.  

Also, if you plan to buy discount points, include those in your quote requests across all lenders. 

One more thing. As you submit any requests for quotes, make sure you don’t check any boxes that allow the lender to perform a hard credit check or hard credit inquiry. Soft checks are okay, but hard checks impact your credit score, causing a slight and temporary ding. It’s best to wait until you’re really ready to get a VA loan to start allowing lenders to perform this thorough credit evaluation. 

The real test: Comparing current VA loan rates across loan estimates

The comparison game continues even when you’re ready to apply for your mortgage. The experts at the Consumer Financial Protection Bureau recommend applying with at least three mortgage lenders. This is the best way to compare current VA loan rates based on what lenders will truly offer you on a loan contract. 

Once you apply, lenders legally have to provide you with a loan estimate within three days. This is an official document that breaks down the key details you need to know about your VA loan. It gives you a detailed look at what each lender charges in terms of interest rate, APR, and fees. 

We have a page-by-page explainer to help you understand each part of the loan. Line up the estimates you get from each VA lender and compare them closely. 

This is the best way to make sure all the work you’ve done to compare current VA loan rates pays off — literally. This final step uses all of your comparison efforts to help you find the VA lender that will offer you the best deal for your specific situation. 

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TL;DR? The best way to compare current VA loan rates depends on where you’re at. 

If you’re just starting to look at houses, a VA loan rate table helps you get a feel for what’s out there. As you get closer to wanting to buy, start collecting personalized rate quotes from lenders. And once you’re ready to apply for a mortgage, do it with at least three lenders, then compare the results. This helps you pick the best VA loan for your finances today and throughout the whole life of your loan.

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