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Ready to start your home buying journey? Apply now and get pre-approved for your mortgage.
Purchase Rates
Know the rates, know your options. Start building your homeownership plan today.
Monthly Mortgage Calculator
Get a clear picture of your monthly mortgage payment using your rate, credit score, and down payment information.
Affordability Calculator
Not sure what fits your budget? This calculator factors in your income, debts, and down payment to help you find the right price range.
Refinance
Apply Now
Ready to lower your rate or tap into your equity? Apply now and start your refinance journey with confidence.
Refinance Rates
Rates can change fast. See today’s options and discover potential savings on your mortgage.
Refinance Mortgage Calculator
Wondering how refinancing will affect your monthly payments? See how much you can save.
Cash-Out Refinance Calculator
See how much equity you can tap into. Estimate your new mortgage payment and compare loan options.
Rates
Resources
Calculators
Free, interactive mortgage calculators that can help you along the journey toward your home ownership goals.
Blog
Learn more. Stress less. Our blog breaks down what you need to know to buy, refinance, or plan ahead.
FAQs
Check out our FAQs to learn more about Total Mortgage, mortgage lending, home refinancing, and more.
Loan Programs
Navigate all our programs and find the perfect loan for you.
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About
VA 15-Year Fixed
<p class="MsoNormal">A 15-year fixed-rate VA loan helps veterans build equity quickly with as little as 0% down.</p>
Benefits
No Down Payment
With a VA 15-year mortgage, you can purchase a home with no down payment, allowing you to avoid large upfront costs.
Lower Interest Rates
Enjoy lower interest rates than many other loan types, helping you save more over the life of the loan.
No Private Mortgage Insurance (PMI)
VA loans do not require PMI, helping you reduce your monthly expenses significantly.
Flexible Credit Requirements
VA loans offer more flexibility when it comes to credit requirements, making it easier for veterans and active-duty members to qualify.
VA 15-Year Fixed Loan Information
<p>VA loans offer competitive interest rates due to government backing. However, several factors can affect the final mortgage interest rate. To understand the eligibility criteria and program details, you can start by <a href="/apply">speaking to one of our seasoned experts</a>.</p>
VA 15-Year Fixed Loan Eligibility Conditions
<ul><li>Honorably discharged veterans or active-duty service members meeting specific service requirements</li><li>National Guard or Selected Reserve members with over six years of service</li><li>Eligible surviving spouses of service members</li><li>No minimum credit score set by the VA, though lenders may have their own requirements</li><li>The home must comply with defined safety standards and building codes</li><li>A Certificate of Eligibility (COE) from the VA is necessary</li></ul>
Factors Determining VA 15-Year Loan Rate
<ul><li>Credit Score</li><li>Quoted Interest Rate</li><li>Annual Percentage Rate (APR)</li><li>Loan-Specific Details</li><li>Property Location</li></ul>
VA Funding Fee
<p>The VA funding fee is paid by the borrower and generally ranges between 1.25% and 3.3% of the total loan amount. This upfront fee is often financed into your mortgage loan.</p>
Pros and Cons of VA 15-Year Fixed Loan
<p>Understanding the advantages and disadvantages of a VA 15-Year Fixed Loan can help you make an informed decision.</p>
Additional Pros
<ul><li>No cap on maximum loan amount</li><li>Multiple VA loans allowed</li><li>Support for struggling borrowers</li></ul>
Cons to Consider
<ul><li>No initial home equity due to zero down payment</li><li>VA funding fee requirement</li><li>Property restrictions (primary residences only)</li><li>Limited to 1-4 family owner-occupied properties</li></ul>