Current 16-30 year rates are 2.75 % (2.906% apr)
Current 5-15 year rates are 2.50% (2.787% apr)
- The maximum loan limit is $400,000 plus the VA funding fee.
- The interest rate is fixed for the term of the loan.
- Interest rates are typically 1 to 2 percent below market rates.
- Available terms are: 5, 10, 15, 20, 25, and 30 year monthly amortizations.
- Veterans’ Home Purchase Board can only refinance loans presently financed by the agency.
- Hazard insurance and taxes are collected monthly along with payments and placed in an escrow account.