(877) 517-2653

15 Year Fixed Rate VA Home Loans

The 15 Year Fixed Rate VA Loan provides veterans with a federally guaranteed home loan that allows for a much faster path to full homeownership. This program was designed to provide veterans and their families with the ability to build home equity quickly while benefiting from the VA's "no down payment" requirements.

The Veterans Administration provides insurance to lenders in the case that you default on a loan. Because the mortgage is guaranteed, lenders offer competitive interest rates—which are typically even lower on a 15-year term than on a 30-year term. With a 15-year fixed-rate mortgage, your interest rate remains locked for the life of the loan, protecting you from market fluctuations while saving you tens of thousands of dollars in total interest costs over time.

Additionally, there are services offered to veterans in danger of defaulting on their loans. 15 Year Fixed Rate VA home loans are available to military personnel who have served 181 days during peacetime, 90 days during war, or are the surviving spouse of a serviceman killed or missing in action.

The Veteran Administration's Loan originated in 1944 via the GI Bill. The 15-year fixed-rate option is ideal for veterans who want to pay off their mortgage quickly. While monthly payments are higher than a 30-year loan, the total interest paid over the life of the loan is significantly lower. These loans are made by private lenders and guaranteed by the VA, allowing for 100% financing with a fixed schedule that results in the home being fully paid off in just 180 months.

Wartime/Conflict Veterans

  • Veterans who were NOT Dishonorably Discharged, and served at least 90 days
  • World War II – September 16, 1940 to July 25, 1947
  • Korean Conflict – June 27, 1950 to January 31, 1955
  • Vietnam Era – August 5, 1964 to May 7, 1975
  • Persian Gulf War, Afghanistan & Iraq – Check with the Veterans Administration Office
  • Veterans Administration website www.va.gov

Peacetime Service

At least 181 days of continuous active duty with no dishonorable discharge. If you were discharged earlier due to a service-related disability, contact your Regional VA Office for verification.

  • July 26, 1947 to June 26, 1950
  • February 1, 1955 to August 4, 1964, or May 8, 1975 to September 7, 1980 (Enlisted), or to October 16, 1981 (Officer)
  • Enlisted Veterans whose service began after September 7, 1980, must have completed 24 months of continuous active duty.

Reserves and National Guard

  • Surviving spouse of an eligible Veteran who died resulting from service, and has not remarried.
  • The spouse of an Armed Forces member listed as a POW or MIA for more than 90 days.

A 15-year fixed-rate VA loan must be used for your primary residence. It is an excellent tool for those looking to own their home outright in a short timeframe. Eligible properties include:

  • Existing Single-Family Homes
  • Townhouses or VA-Approved Condominiums
  • New Construction
  • Manufactured Homes
  • Refinancing an existing mortgage into a shorter 15-year term

  • Lower Interest Rates: 15-year terms typically offer lower rates than 30-year terms.
  • Massive Interest Savings: Pay significantly less in total interest over the life of the loan.
  • Faster Equity: Build ownership in your home at double the speed of a 30-year mortgage.
  • 100% Financing & No Down Payment
  • No Private Mortgage Insurance (PMI)
  • No Prepayment Penalties

You can apply for a 15 Year Fixed Rate VA Loan with any participating mortgage lender. At application, you will need:

  • Certificate of Eligibility (COE) via VA Form 26-1880.
  • Proof of Military Service (DD214 or Statement of Service).

Yes. Many veterans use the VA Interest Rate Reduction Refinance Loan (IRRRL) to move from a 30-year fixed rate to a 15-year fixed rate. This allows you to take advantage of lower 15-year interest rates and shorten your debt obligation. If you have already paid off a prior VA loan, you can also have your eligibility restored to purchase a new home with a 15-year term.

  • Higher Monthly Payments: Because the loan is compressed into 15 years, the monthly payment will be higher than a 30-year loan for the same amount.
  • Less Purchasing Power: Due to higher monthly obligations, you may qualify for a smaller loan amount than you would with a 30-year term.
  • Reduced Liquidity: More of your monthly cash flow is tied up in home equity rather than liquid savings.