New VA Mortgage Rates for April 2024, Best Loans, Eligibility, Comparison

New VA Mortgage Rates for April 2024, Best Loans, Eligibility, Comparison The United States Department of Veterans Affairs supports VA loans to veterans and active duty military members for use as a primary residence and for the purchase of a home. These loans are low interest and require little or no down payment, as well as no private mortgage insurance. Spouses of veterans who died in the line of duty or from a service-related disability, are missing, or are prisoners of war may be eligible for a VA loan if they received a VA loan on or before their 57th birthday on or after December 16, 2003. If you have not been married before.

New VA Mortgage Rates for April 2024

The New VA Mortgage Rates for April 2024 are affordable and come from trusted mortgage lenders that specialize in VA loans and understand the programs, including VA loan April 2024 qualification. They offer fast VA Loan April 2024 application processes and agents who are qualified to answer any questions you may have during your visit.

New VA Mortgage Rates for April 2024

Mortgage rates have remained below 7% in 2024:- But not low enough to entice potential buyers or homeowners to refinance. Freddie Mac reported that the average 30-year fixed mortgage rate last week was 6.82%. After consistently high mortgage rates, most housing market analysts believe they will decline by 2024 if the Federal Reserve lowers its expected interest rates. Read this post to the end to find out whether mortgage rates will fall enough to make a substantial difference to housing affordability.

What is VA Loan 2024?

As a result, current and past members, as well as their surviving spouses, are eligible for government-backed VA loans. VA loans can be used to buy or build a home, upgrade an existing home and make home repairs, or refinance a mortgage. Key benefits include low credit score criteria, no private mortgage insurance, no down payment required and affordable rates. You can apply for a VA loan more than once, but financing costs increase after the first time.

When you get a VA-guaranteed mortgage to buy or refinance your home, you are charged a one-time financing fee. You will need a Certificate of Eligibility, which you can find on the VA website or can provide from your lender. To obtain this certification, you must provide service-related documentation, depending on whether you are active duty or a veteran. For more information read this post further

VA Loan Eligibility April 2024

  • Active-duty service personnel who have completed 90 days of continuous service.
  • The first soldier who has completed a significant period of duty (usually 90 days in wartime and 181 days in peacetime).
  • Service personnel and veterans who have served 90 days on active duty or 6 creditable years of service in the Selected Reserve or National Guard.
  • Surviving wives of such veterans who died in the line of duty, suffered from service-connected disability, missing in action, or were imprisoned. And surviving spouses who have remarried are eligible only if their marriage took place after the age of 57 years or after December 16, 2003.

Compare The Best VA Loans 2024

Company SIR Loan Terms MCS MLA
Veterans United Contact the Company 15 and 30 Years Contact the Company None
PenFed Credit Union Contact the Company 15 and 30 Years Not Available Contact the Company
Navy Federal Credit Union 6.500% 15 and 30 Years Not Available Contact the Company
USAA 6.865% 10,15,20 or 30 years Not Available $3 Million
Lending Tree Contact the Company Contact for detail Contact the Company Contact the Company

Current Mortgage Rates 2024

Product Rate Last Week Change
30 Year Fixed Rate 7.65% 7.44% +0.21
15 Year Fixed Rate 6.93% 6.80% +0.13
5/6 ARM 7.26% 7.14% +0.12
7/6 ARM 7.44% 7.37% +0.07
10/6 ARM 7.66% 7.40% +0.06
30 Year Fixed Rate Jumbo 7.47% 7.33% +0.14
30 Year Fixed Rate FHA 7.33% 7.14% +0.19
30 Year Fixed Rate VA 7.37% 7.14% +0.23

Today’s VA Mortgage Rate

  • District announced that the current average 30-year fixed VA mortgage rate increased 4 basis points to 6.28% on Wednesday from 6.24%.
  • The 30-year fixed VA mortgage due April 24, 2024 is down 2 basis points from last week’s average rate of 6.30%.
  • Additionally, the national average 15-year fixed VA mortgage rate currently declined 3 basis points to 5.79% from 5.82%. The current national average 5-year ARM VA mortgage rate increased 3 basis points from 6.35% to 6.38%.
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