VA Loan Calculator
Estimate your VA mortgage payment, funding fee, cash needed, payoff timeline, and total loan cost.
Your VA Loan Inputs
$0 (0.0%)
VA Funding Fee
$5,400 / yr
Your VA Loan Results
Estimated Total Monthly Payment
First-month estimate including P&I and selected housing costs
VA Funding Fee Summary
Estimated Cash to Close
Balance and Equity Over Time
Track the estimated financed VA loan balance as principal is repaid.
VA Loan Results Dashboard
Review payment, funding fee, cash needs, payoff, and equity in one place.
| Metric | Your Scenario | 0% Down |
|---|---|---|
| Base loan | $450,000 | $450,000 |
| Funding fee rate | 2.15% | 2.15% |
| Total financed loan | $459,675 | $459,675 |
| Monthly P&I | $2,905.46 | $2,905.46 |
| Total interest | $586,290 | $586,290 |
VA Loan Big Picture
- ✓ Eligible borrowers may be able to buy with no down payment.
- ✓ VA-backed loans do not require monthly mortgage insurance.
- ✓ A one-time VA funding fee may apply unless you qualify for an exemption.
- ✓ Making at least 5% or 10% down can reduce the purchase-loan funding fee rate.
- ✓ Financing the funding fee increases the mortgage balance and interest paid over time.
Monthly Payment
Use the all-in estimate to judge whether the payment fits your monthly budget. VA loans eliminate monthly mortgage insurance, but taxes, insurance, and HOA costs still matter.
Funding Fee
The VA funding fee is a one-time charge for many borrowers. Paying it upfront lowers the financed balance; financing it reduces cash needed at closing but increases long-term borrowing cost.
Cash Needed
Cash needed combines your selected down payment, modeled closing costs, discount points, credits, and any funding fee you choose to pay upfront.
Equity & LTV
A down payment lowers starting LTV and may also reduce the VA funding fee tier. The balance chart shows how principal repayment builds equity over time.
VA Loan Amortization Schedule
Review principal, interest, selected housing costs, and ending balance.
VA Mortgage Loan Calculator
A VA loan calculator helps eligible Veterans, service members, and qualifying surviving spouses estimate a VA mortgage payment before applying. Enter your home price, down payment, interest rate, loan term, property taxes, homeowners insurance, HOA dues, and VA funding fee details to estimate your monthly payment and total loan cost.
This calculator is designed specifically for VA-backed purchase loans. Unlike a conventional mortgage calculator, it separates the base VA loan from the VA funding fee, shows whether the fee is financed or paid at closing, and does not add monthly private mortgage insurance.
How to Use the VA Loan Calculator
Start with the purchase price and your planned down payment. A VA-backed purchase loan may allow an eligible borrower to buy with no down payment, but entering 5% or 10% down can change the VA funding fee tier for borrowers who are not exempt from the fee.
Enter the loan details that shape your VA mortgage payment
Enter the interest rate and select a 30-year or 15-year term. Then add realistic estimates for annual property taxes, homeowners insurance, and monthly HOA dues. These costs do not reduce your mortgage balance, but they can materially affect the monthly housing payment you need to budget for.
Choose whether this is your first or a subsequent use of the VA home loan benefit and indicate whether you are exempt from the funding fee. If a funding fee applies, the calculator lets you compare financing the fee with paying it at closing.
Review more than just principal and interest
The results separate your base VA loan, funding fee, total financed mortgage, monthly principal and interest, taxes, insurance, HOA dues, estimated cash needed, total interest, payoff date, and loan balance over time. That gives you a broader view of affordability than looking at principal and interest alone.
How VA Mortgage Payments Are Calculated
The scheduled principal-and-interest payment is based on the amount financed, interest rate, and loan term. If the VA funding fee is financed, the amount used for principal-and-interest calculations is higher than the base VA loan because the fee is added to the mortgage balance.
Base VA loan
The base loan is the purchase price minus the down payment. The VA funding fee is calculated from the applicable loan amount and is shown separately in the calculator.
Total financed VA loan
If you choose to finance the VA funding fee, the fee is added to the base loan. This increases the beginning mortgage balance, monthly principal and interest, and lifetime interest compared with paying the fee in cash.
VA Funding Fee: First Use, Subsequent Use, and Down Payment
The VA funding fee is a one-time charge on many VA-backed home loans. For VA-backed purchase and construction loans, the funding fee can depend on whether this is the borrower's first or subsequent use of the VA home loan benefit and on the amount of the down payment.
| Down payment | First use | Subsequent use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% or more | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
Funding-fee exemptions can apply to certain eligible borrowers. Confirm exemption status and the final fee shown on your loan documents with your lender.
Finance the VA Funding Fee or Pay It Upfront?
Financing the funding fee can reduce the cash you need at closing, but it also increases your mortgage balance. Because interest is then charged on the higher balance, financing the fee increases lifetime borrowing cost.
Paying the funding fee in full at closing keeps it out of the mortgage. That requires more cash upfront but can reduce the monthly principal-and-interest payment and total interest. Use the calculator's funding-fee toggle to compare both choices with the same home price and interest rate.
VA Loan Closing Costs and Cash Needed at Closing
A VA purchase loan can still have closing costs even when the borrower makes no down payment. Costs vary by lender, property, state, appraisal, title services, discount points, taxes, and other transaction details.
This calculator includes an optional closing-cost percentage, discount points, and seller or lender credits so you can build a planning estimate of cash needed. Ordinary purchase-loan closing costs are not added to the mortgage balance in this model; only the VA funding fee is modeled as financeable.
VA Loans and Monthly Mortgage Insurance
One of the important structural differences between a VA-backed purchase loan and many low-down-payment conventional or government-backed mortgages is that VA loans do not require monthly private mortgage insurance. The VA funding fee is a separate one-time charge rather than a recurring monthly PMI payment.
Taxes, homeowners insurance, HOA dues, and other property costs can still make your total housing payment meaningfully higher than principal and interest. Use the payment breakdown in the results dashboard to see those pieces separately.
How Down Payment Changes a VA Loan
A zero-down VA loan can preserve cash, but making a down payment reduces the amount borrowed and may reduce the VA funding fee rate for a non-exempt borrower. A lower starting loan balance also reduces monthly principal and interest and can lower total interest over the life of the loan.
The dashboard includes a selected-down-payment versus zero-down comparison so you can see how the base loan, funding fee, financed amount, monthly principal and interest, and total interest change.
VA Loan Calculator Example
Suppose you are considering a $450,000 home with no down payment and a 30-year VA-backed purchase loan. The base VA loan would be $450,000. If a first-use funding fee applies and is financed, the funding fee is added to the mortgage balance before the principal-and-interest payment is calculated.
Changing the down payment to 5% or 10% can reduce both the base loan and the applicable funding-fee rate. Use the calculator to compare those scenarios rather than assuming that the lowest-cash option is always the lowest-cost option.
VA Loan vs. Conventional Mortgage
| Feature | VA-backed purchase loan | Conventional mortgage |
|---|---|---|
| Down payment | Eligible borrowers may be able to use 0% down | Requirements vary by lender and program |
| Monthly mortgage insurance | No monthly mortgage insurance | PMI can apply with some lower-down-payment loans |
| Upfront program fee | VA funding fee may apply unless exempt | No VA funding fee |
Frequently Asked Questions About VA Loans
Does a VA loan require a down payment?
Eligible borrowers may be able to use a VA-backed purchase loan with no down payment. Eligibility, entitlement, lender underwriting, appraisal requirements, and final loan terms still apply.
What is the VA funding fee?
The VA funding fee is a one-time charge on many VA-backed and VA direct home loans. For purchase loans, the rate can depend on down payment and whether the borrower is using the VA home loan benefit for the first time or a subsequent time. Certain borrowers are exempt.
Can I finance the VA funding fee?
Yes. The VA funding fee can generally be financed into the mortgage or paid in full at closing. Financing it increases the loan balance and long-term interest cost.
Do VA loans require monthly PMI?
No. VA-backed purchase loans do not require monthly private mortgage insurance. Property taxes, homeowners insurance, HOA dues, and other housing costs can still be part of the total monthly payment.
Can ordinary VA purchase-loan closing costs be financed?
The VA funding fee can be financed, but ordinary fees and charges on a VA purchase or construction/permanent loan are generally paid at closing rather than rolled into the loan. Review your Loan Estimate for the exact transaction costs.