VA Loans Expertise
As a Top VA lender, we at Navy Federal understand the unique needs of servicemembers and their families, and can help you take advantage of every benefit you’ve earned. We’re here to help you through the home-buying experience by providing low VA home loan rates, resources and membership benefits.
VA loans are backed by the Department of Veterans Affairs and offer exclusive mortgage benefits to eligible servicemembers, veterans and their spouses. A certificate of eligibility is required and can be obtained from the VA by your home loan advisor. Maximum loan amounts are determined by the property location.
Options with No Down Payment
Some lenders require a down payment of up to 20%, but because Navy Federal VA Home Loans don’t require any money down, you can buy a house now without waiting years to save.1
No Private Mortgage Insurance Required
Most lenders require the borrower to purchase PMI unless they are able to make a down payment of 20%. This loan doesn’t require PMI, which saves you money each month.
Seller Contribution of Up to 4%
The seller is allowed to contribute up to 4% of the value of the home toward your closing costs, saving you money.
If you already have a mortgage and want to refinance for a different interest rate or shorter term, this loan may also be a good fit.
VA Mortgage Rates2
|Term||Interest Rates As Low As||Discount Points||APR As Low As|
Rates as of Dec 07, 2022 ET.
The interest rate above shows the option of purchasing discount points to lower a loan's interest rate and monthly payment. One point amounts to 1% of the loan amount and is paid at closing. Points don't always have to be round numbers. Purchasing 1.5 points would cost $4,500 on a $300,000 mortgage.
Rates displayed are the "as low as" rates for purchase loans and refinances.
Why Choose Navy Federal?
Great loans. Expert guidance. Best-in-class loan service. As a Navy Federal member, you get access to additional benefits to help save you time and money. Get your loan, real estate agent, title services and loan servicing all through us.
Mortgage Learning Center
The Mortgage Loan Process in 10 Steps
It starts with a preapproval and finishes with your perfect home. We've broken down the process to make it easier for you.Learn Moreabout The Mortgage Loan Process in 10 Steps
A preapproval lets sellers know you're a serious buyer and gives you more negotiating power when it comes time to make an offer.Learn Moreabout Mortgage Preapproval
Best Mortgage for You
Need help deciding which loan option works best for you? Check out our Mortgage Match video.Learn Moreabout Best Mortgage for You
How to Make Mortgage Payments
Find out what makes up your monthly mortgage payments and learn about convenient payment options.Learn Moreabout How to Make Mortgage Payments
What's an Escrow Account?
Find out how we calculate your escrow payments and get answers to your most frequently asked questions.Learn Moreabout What's an Escrow Account?
Managing Your HELOC
Get answers to questions about your HELOC, including how we calculate your interest rate.Learn Moreabout Managing Your HELOC
Who's eligible for a VA loan?
To qualify for a VA loan, you or your spouse must have served:
- 90 consecutive days of active service during wartime
- 181 days of active service during peacetime
- More than 6 years with the National Guard or Reserves
You have to meet at least one of the service requirements mentioned above. If you haven’t, you must be the spouse of a military member who lost their life in the line of duty, or as the result of a service-related disability. You usually can’t have remarried.
Note: Co-borrowers on a VA loan must be a veteran themselves or the primary borrower's spouse.
How do I show that I’m eligible for a VA loan?
To demonstrate eligibility, you’ll need to provide a valid Certificate of Eligibility (COE). Your loan officer can obtain the COE for you through the Department of Veterans Affairs. A copy of your DD-214 may be needed to request the COE.
What are some VA loan benefits?
There are many VA loan benefits, since the program was designed to reward our nation’s servicemembers. Some of them are:
- lower mortgage rates
- lower or no down payments
- no private mortgage insurance (PMI)
- excellent refinance program that helps buyers lower their payments or get cash back on equity
- higher debt-to-income ratio allowed
- more flexibility in the event of bankruptcy or a foreclosure
- help with closing costs. We can negiotiate with the seller to contribute up to 4% of the appraised value of the house towards certain closing costs (known as seller concessions).
- no penalty fee if you pay off the loan early
If you’re interested in buying or refinancing a home with a VA loan, Navy Federal Credit Union can help. As a top VA lender, we understand the unique needs of servicemembers and their families and can help you take advantage of the benefits you’ve earned.
Product features subject to approval. Available for purchase loans only. Loans are subject to an additional funding fee, which may be financed up to the maximum loan amount.↵
These rate offers are effective 12/07/2022 and subject to change. Rates displayed are the "as low as" rates for purchase loans and refinances. Rates are based on creditworthiness, loan-to-value (LTV), occupancy and loan purpose, so your rate and terms may differ. All loans subject to credit approval. Rates quoted require a loan origination fee of 1.00%, which may be waived for a 0.25% increase in the interest rate. Many of these programs carry discount points, which may impact your rate.↵
A VA loan of $300,000 for 15 years at 5.125% interest and 5.854% APR will have a monthly payment of $2,391.
A VA loan of $300,000 for 30 years at 5.250% interest and 5.661% APR will have a monthly payment of $1,656.
Taxes and insurance not included; therefore, the actual payment obligation will be greater. If you have less than your VA home loan entitlement, limitations to your loan amount may apply.
The cash-back bonus is offered in most states and is available for individual sales and purchases of property; offer limited to one cash-back bonus per property with no limit on the amount of times you may use the program. In some states, a gift card or commission credit at closing may be provided in lieu of the cash-back bonus. The program is not available in IA or outside the U.S. Cash-back bonus is not available in AK or OK. In KS and TN, a gift card with preloaded points that are ready for spending at specified retail establishments after closing will be issued. State regulations in KS limit the dollar amounts and the type of incentive. In MS, NJ, and OR, a commission reduction may be available at closing. Please check with the program coordinator for details. This is not a solicitation if you are already represented by a real estate broker. The cash-back bonus is only available with the purchase or sale of your home through the use of a program-referred and -approved real estate agent. The size of your cash back award depends on the value of the property you are buying or selling. Obtaining the full $9,000 cash back award requires transacting in a property valued at $3 million or greater. To calculate the size of your potential cash back, please visit the RealtyPlus website: https://realestateperk.com/RealtyPlus/. All real estate transactions are negotiable. Contact RealtyPlus for terms and conditions. Standard listing fees apply. The program award is not available in certain transactions with restricted agent commissions (including many new construction, For Sale by Owner, or For Sale by iBuyer transactions). Your assigned agent can help you identify any transactions where the award would not be available. This program is offered, in part, by Realogy Lead Management Services, Inc. d/b/a Realogy Leads Group (RLG). RLG may receive a co-operative brokerage fee as a result of a referral to the real estate companies listed above. Program terms and conditions are subject to change at any time without notice. Additional terms, conditions, and restrictions apply.↵