Texas VA Rates: Complete Guide for Veterans
Ask any homebuyer about mortgage rates, and they’ll tell you things have changed since the ultra-low rates of 2020 and 2021. Like other mortgage products, VA loan rates climbed when the Federal Reserve raised the federal funds rate in 2022 to combat inflation.
But here’s the thing about homeownership – timing the market rarely works. While today’s rates might seem high compared to recent years, homeownership still offers lasting value. Veterans who buy now start building equity immediately, and they can always refinance later if rates drop.
Here in valoantexas.com, we’ve thrown out the rulebook on credit score minimums for VA loans. Whether you’re buying or refinancing, we look at your whole financial picture, not just a number. Texas veterans get an even better deal through the Texas Vet Loan program, which offers the same rate to everyone, regardless of credit score. Plus, if you receive 30% or more VA disability income, you’ll knock another 0.5% off that rate.
The Real Story Behind VA Loan Rates
When you’re shopping for a VA loan, you’ll see two numbers: the interest rate and the APR (annual percentage rate). Think of the interest rate as the basic cost of borrowing – it’s what determines your monthly payment. The APR tells the fuller story by adding in the other costs like closing fees, origination charges, and discount points. That’s why the APR usually runs higher than the interest rate.
What Makes Your Rate Move?
Despite common misconceptions, the Department of Veterans Affairs doesn’t set VA loan rates. That job falls to individual lenders, which is why shopping around matters. Your final rate depends on:
The Big Picture
- The overall economy
- Job market health
- National debt levels
- Inflation trends
Your Loan Choices
- How long you’ll borrow (15 years? 30 years?)
- Fixed or adjustable rate
- Whether you’re buying or refinancing
For Texas veterans, the state’s Vet Loan program takes a different approach, using set rates that don’t change based on your credit profile.
Your Personal Rate Factors
While we don’t require a minimum credit score, several factors can help you land a better rate:
- Strong credit usually means better rates. But don’t let a lower score stop you – we work with veterans across the credit spectrum.
- A solid income and manageable debt payments show lenders you can handle the loan comfortably.
While VA loans famously require no down payment, putting money down might help you secure a more favorable rate.
We’ve helped countless veterans and service members navigate their way to homeownership. Ready to explore your options? Let’s talk about how a VA loan or Texas Vet Loan could work for you.
Texas Vet Rates
Down payment: 0% & Term: 15, 20, 25 & 30 Yr Fixed
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