VA Mortgage Calculator
Calculate your VA loan payments with accurate funding fee calculations and VA-specific benefits
VA Eligibility
VA Loan Calculation Results
Monthly Payment
Total Monthly
VA Funding Fee
Total Loan Amount
Payment Breakdown
VA Loan Benefits
No Down Payment
Most VA loans don’t require a down payment, making homeownership more accessible.
No PMI
VA loans don’t require private mortgage insurance, saving you hundreds per month.
Competitive Rates
VA loans typically offer lower interest rates compared to conventional loans.
Limited Closing Costs
Sellers can pay all loan-related closing costs and up to 4% in concessions.
Assumable Loans
VA loans are assumable, which can be a selling point when interest rates rise.
No Prepayment Penalty
Pay off your VA loan early without any penalties or extra fees.
VA Funding Fee Details
The VA funding fee helps lower the cost of the VA loan program for taxpayers. The fee varies based on your service type, down payment, and whether this is your first VA loan.
Funding Fee Exemptions
You may be exempt from paying the VA funding fee if you meet any of these criteria:
- Receiving VA compensation for a service-connected disability
- Eligible to receive VA compensation for a service-connected disability (but you are receiving retirement or active duty pay instead)
- The surviving spouse of a Veteran who died in service or from a service-connected disability
- Service member with a proposed or memorandum rating, before the loan closing date, that says you’re eligible to get compensation
Current VA Funding Fee Rates
| Loan Type | Down Payment | First Use | Subsequent Use |
|---|---|---|---|
| Regular Military | 0% | 2.15% | 3.30% |
| Regular Military | 5-9.99% | 1.50% | 1.50% |
| Regular Military | 10% or more | 1.25% | 1.25% |
| Reserves/National Guard | 0% | 2.40% | 3.30% |
Loan Comparison
See how VA loans compare to other loan types with similar parameters:
| Loan Feature | VA Loan | Conventional Loan | FHA Loan |
|---|---|---|---|
| Minimum Down Payment | 0% | 3-5% | 3.5% |
| Mortgage Insurance | No PMI | Required if <20% down | Upfront + Annual MIP |
| Loan Limits | No limit for qualified borrowers | Up to $726,200 (most areas) | Varies by county |
| Credit Requirements | No minimum score (lender may have requirements) | Typically 620+ | Typically 580+ |
| Funding Fee/Insurance | 0.5-3.6% (can be financed) | 0.5-1% PMI monthly | 1.75% upfront + 0.45-1.05% annual |
How to Use the VA Mortgage Calculator
- Enter Loan Details: Input home price, down payment (optional), loan term, and interest rate.
- VA Eligibility: Select your military service type, whether you’ve used a VA loan before, and if you have a service-related disability.
- Additional Costs: Include property taxes, homeowners insurance, HOA fees, and other costs for accurate monthly payments.
- More Options: Click “More Options” to set start date, annual increases, and extra payments.
- Click “Calculate VA Loan” to see your payment breakdown and explore VA benefits.
Related Calculators
A VA loan is one of the most powerful home financing benefits available to eligible veterans and service members. With no required down payment, no private mortgage insurance (PMI), and often lower-than-average interest rates, VA loans can dramatically reduce the cost of homeownership.
Still, one question matters most before you buy:
What will my monthly VA mortgage payment actually be?
A VA mortgage calculator answers that question by factoring in the VA funding fee, interest rate, loan term, taxes, insurance, and amortization—giving you a clear, realistic payment estimate before you speak to a lender.
VA Mortgage Calculator – How It Works
A VA mortgage calculator is built specifically around VA loan rules, not generic mortgage assumptions. That difference is critical.
Unlike standard mortgage calculators, a VA-specific calculator:
- Automatically removes PMI
- Applies the correct VA funding fee rate
- Accounts for VA funding fee exemptions
- Calculates payments using VA-approved loan structures
It also shows a full amortization schedule, allowing you to see how your balance, equity, and interest costs evolve.
This makes the calculator useful not only for monthly budgeting but also for long-term planning, refinancing decisions, and interest savings strategies.
Calculate Your VA Loan Payment
This is the transactional core of the page. Most users arrive here ready to calculate, compare, or confirm affordability.
A strong VA mortgage calculator lets you instantly test different home prices, loan terms, and funding fee scenarios without pressure or commitment.
Required Inputs
These inputs form the foundation of your VA loan estimate.
Home Price
The purchase price of the home. A higher price increases your loan balance and total interest paid over time.
Down Payment (0% Supported)
VA loans allow qualified borrowers to buy with zero down. However, adding even a small down payment can lower your VA funding fee and reduce long-term interest.
Loan Term (15 vs 30 Years)
A 30-year loan offers lower monthly payments, while a 15-year loan builds equity faster and saves substantial interest over the life of the loan.
Interest Rate
Interest rates vary by credit profile, lender, and market conditions. A difference of just 0.25% can significantly affect your payment and total loan cost.
VA-Specific Inputs
These inputs are unique to VA loans and directly affect affordability.
First-Time or Repeat VA Loan Use
Repeat VA loan use typically results in a higher funding fee unless you qualify for an exemption.
Service-Connected Disability (10% or More)
Veterans with qualifying disabilities are exempt from the VA funding fee, reducing both upfront and long-term costs.
Funding Fee Paid Upfront or Financed
You can pay the funding fee at closing or roll it into the loan. Financing it increases your loan balance but preserves cash at closing.
Advanced Options
Advanced inputs help calculate a true monthly housing cost rather than a simplified estimate.
- Property taxes
- Homeowners insurance
- HOA fees
- Extra monthly payments
Including these gives you a realistic view of affordability and cash flow.
VA Loan Payment Breakdown (What You’ll Pay Monthly)
Understanding how your payment is structured helps you make better financial decisions.
Principal & Interest
Early payments are mostly interest. Over time, more of each payment goes toward principal. This shift becomes clear in the amortization schedule.
VA Funding Fee (If Applicable)
The VA funding fee replaces monthly mortgage insurance. While it may look large upfront, it often costs less than PMI over time.
Taxes & Insurance
These costs are usually escrowed into your payment and vary by location and coverage.
Total Monthly Mortgage Payment
This is your true monthly housing cost—the number that matters most when budgeting.
VA Funding Fee Explained
What Is the VA Funding Fee?
The VA funding fee is a one-time government fee that helps keep the VA loan program running without charging borrowers monthly mortgage insurance. It allows eligible buyers to access zero-down financing at competitive rates.
VA Funding Fee Rates (Purchase Loans)
The VA funding fee depends on your down payment amount and whether you’re using your VA benefit for the first time or again.
| Down Payment Amount | First-Time VA Loan Use | Subsequent VA Loan Use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% to 9.99% | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
If you’re buying with 0% down and using your VA loan for the first time, your funding fee is typically 2.15% of the loan amount.
Special VA Funding Fee Rates (Refinance & Other Loans)
Some VA loan types use reduced flat funding fees.
| VA Loan Type | VA Funding Fee Rate |
|---|---|
| IRRRL (Streamline Refinance) | 0.50% |
| VA Loan Assumption | 0.50% |
| Manufactured Home (Not Affixed) | 1.00% |
| Native American Direct Loan – Purchase | 1.25% |
| Native American Direct Loan – Refinance | 0.50% |
This is why a VA mortgage calculator with funding fee logic is essential for accurate estimates.
Who Is Exempt From the VA Funding Fee?
You may qualify for a full exemption if you are:
- Receiving VA disability compensation (10% or more)
- An eligible surviving spouse
- A Purple Heart recipient on active duty
This exemption can save thousands upfront and tens of thousands over time.
VA Loan Amortization Schedule
An amortization schedule shows how your loan balance decreases over time.
Monthly Amortization Table
Displays how each payment is split between principal and interest.
Annual Amortization Table
Summarizes yearly progress and helps with long-term planning.
Total Interest Over Loan Term
This figure highlights why many VA borrowers choose extra payments or refinancing strategies.
VA Loan vs Other Mortgage Options
VA Loan vs FHA Loan
| Feature | VA Loan | FHA Loan |
|---|---|---|
| Minimum Down Payment | 0% | 3.5% |
| Mortgage Insurance | None | Required (Upfront + Monthly) |
| Upfront Fee | VA Funding Fee | FHA UFMIP |
| Monthly Insurance | ❌ No | ✅ Yes |
| Credit Flexibility | High | Moderate |
VA loans typically offer lower monthly payments than FHA loans for eligible borrowers.
VA Loan vs Conventional Loan
| Feature | VA Loan | Conventional Loan |
|---|---|---|
| Down Payment | 0% allowed | 5–20% typically |
| PMI | ❌ None | ✅ Required if <20% down |
| Credit Requirements | Flexible | Stricter |
| Loan Limits | No limit with full entitlement | Conforming limits apply |
Why VA Loans Have No PMI
| Loan Type | Monthly Mortgage Insurance | Risk Coverage |
|---|---|---|
| VA Loan | ❌ No | One-time funding fee |
| FHA Loan | ✅ Yes | Upfront + Annual MIP |
| Conventional (<20%) | ✅ Yes | PMI |
How Extra Payments Affect Your VA Loan
Extra payments can significantly reduce interest costs and shorten your loan term.
- Monthly prepayments
- One-time lump sums
- Even $100 extra per month can save tens of thousands
A VA mortgage calculator lets you see these savings instantly.
VA Loan Eligibility Requirements
Who Qualifies for a VA Loan?
Eligibility generally includes:
- Veterans
- Active-duty service members
- National Guard & Reserve members
- Certain surviving spouses
Certificate of Eligibility (COE)
The COE verifies eligibility and is usually obtained electronically by your lender.
VA Loan Limits & Entitlement Explained
Borrowers with full entitlement have no loan limits. Remaining entitlement applies if you currently have a VA loan or have previously used it, with county loan limits guiding lender risk.
How Accurate Is This VA Mortgage Calculator?
VA mortgage calculators provide reliable estimates, but final numbers depend on lender terms, credit profile, and market conditions. Use the calculator for planning, then confirm with a VA-approved lender.
Tips to Lower Your VA Mortgage Payment
- Improve your credit profile
- Compare VA lenders
- Consider small down payments
- Choose the right loan term
- Use rate buy-downs strategically
Start Your VA Loan Estimate Now
Use the VA mortgage calculator to compare scenarios, test affordability, and prepare for pre-approval. The better your estimate, the stronger your buying position.
FAQs About VA Mortgage Calculator
Can I use a VA loan more than once?
Yes, you can use a VA loan multiple times as long as you have available VA entitlement. Many veterans reuse their VA benefits for second homes or after selling a previous property.
Do VA loans require PMI?
No. VA loans do not require private mortgage insurance (PMI). Instead, most borrowers pay a one-time VA funding fee, which usually costs less over time than monthly PMI.
Can I calculate my VA loan payment with 0% down?
Yes. A VA mortgage calculator supports zero down payment scenarios. Eligible borrowers can estimate monthly payments without putting any money down, which is a key VA loan advantage.
How does VA disability affect my mortgage payment?
Veterans with a 10% or higher service-connected disability are exempt from the VA funding fee. This lowers both the total loan amount and the monthly mortgage payment.
What credit score is needed for a VA loan?
The VA does not set a minimum credit score, but most lenders prefer scores between 580 and 620 or higher. A higher credit score often results in better interest rates.
Is a VA loan better than an FHA loan?
For eligible borrowers, VA loans are often better than FHA loans because they offer no PMI, no down payment, and usually lower interest rates, resulting in lower monthly payments.
Can I prepay a VA loan without penalty?
Yes. VA loans allow early payments and full payoff without any prepayment penalties. Extra payments can significantly reduce interest and shorten the loan term.
Does the VA mortgage calculator include taxes and insurance?
Yes, advanced VA mortgage calculators allow you to include property taxes, homeowners insurance, and HOA fees to estimate your true monthly housing cost.
How accurate is a VA mortgage calculator?
A VA mortgage calculator provides a very accurate estimate, but final payments may vary based on lender fees, credit profile, and actual interest rates. It’s best used for planning before getting a lender quote.