VA Loan Rates

Boise VA Home Loan Rates

VA home loans are backed by the Federal government and as such the risk to the lender is greatly reduced. Because of this, lenders typically offer better rates on VA loans than on Conventional loans. When this factors in with zero down and no monthly mortgage insurance, the savings start adding up quickly.

The VA doesn’t set the interest rate that is offered to a Veteran. Rather a number of factors will impact your interest rate including:

  • Credit Score
  • Debt-to-Income Ratios
  • Loan Amount
  • Loan Term (15 years vs 30 years)
  • Current Market Conditions

While a good credit score will help you get a better interest rate, having perfect credit isn’t required for a VA Home Loan. In fact, the VA loan guidelines are often more lenient than their conventional counterparts.

Locking Your VA Home Loan Rate

Rates change daily. The rate you see online today, may not be the same rate that lenders are offering tomorrow. There are a number things that you must provide to your lender before they can lock (or guarantee) your interest rate. The most important is the property address of the home you plan to purchase or refinance. Additionally, we will need information on your income, assets, and credit as the underwriting decision is factored into your rate lock.

To discuss interest rates or find out if you qualify, call one of our VA Home Loan Specialists at 208-287-1705 or get started online by clicking on the apply buttons to the right.