For 30 months straight VA mortgage rates are the lowest out of all programs (conventional, FHA, etc.). Applicants with military backgrounds qualify for a VA loan which can be used for either a purchase or refinance. If you’re a military borrower you currently have access to interest rates that are below what’s available to other US citizens. As a member of the military you have access to the VA Loan Guaranty Program, a program meant to make homeownership affordable for military members. According to Ellie Mae, VA mortgage rates routinely beat market rates by more than a quarter of a percentage point. In additions VA mortgages get approved more easily than other loan types. Other benefits of VA loans include: 100% financing, no down payment or mortgage insurance requirements. VA loans are also assumable, which means that a VA home can be sold with its VA financing attached making the home extremely attractive to buyers as they can get the same interest rate no matter what the current market rates are.