About the VA Loan Calculator
This VA loan calculator estimates the monthly payment on a home loan guaranteed by the US Department of Veterans Affairs. It works out the one-time VA funding fee from your down payment and whether this is your first VA loan, adds it to the loan if you choose to finance it, and then calculates principal and interest plus property tax, homeowners insurance and HOA dues.
It is for active-duty service members, veterans, and eligible surviving spouses comparing a VA loan with conventional or FHA options. VA loans allow 0% down and have no monthly mortgage insurance, so the funding fee is the main extra cost — and veterans receiving VA disability compensation, among others, are exempt from it.
Funding fee rates used here are the VA purchase-loan rates in effect since April 7, 2023 and still current for 2026: 2.15% (first use) or 3.3% (subsequent use) with under 5% down, 1.5% with 5%–9.99% down and 1.25% with 10% or more down. Lenders set the interest rate and may charge other closing costs.
With the default inputs, the total monthly payment is $2,974.15. Change any value above to recalculate instantly.
How to use the va loan calculator
- 1Enter the home price and any down payment (VA loans allow $0 down).
- 2Enter the interest rate from a VA lender and choose the term.
- 3Pick first or subsequent use, and switch on the exemption if you receive VA disability compensation.
- 4Choose whether to roll the funding fee into the loan.
- 5Add property tax, insurance and HOA to see the full monthly payment.
Formula and method
The funding fee percentage depends on your down payment as a share of the price and on whether you have used a VA loan before: under 5% down it is 2.15% for first use and 3.3% for subsequent use; 5% to under 10% down is 1.5%; 10% or more is 1.25%. Exempt borrowers pay 0%. The fee is charged on the base loan amount.
Most borrowers finance the fee, so it is added to the loan before calculating the principal-and-interest payment with the standard amortization formula. The total payment then adds one-twelfth of yearly property tax and insurance plus monthly HOA dues. There is no PMI on VA loans.
- L
- Total loan amount including a financed funding fee
- r
- Monthly interest rate (annual ÷ 12)
- n
- Number of monthly payments
Worked examples
$400k home, $0 down, first VA loan
With no down payment, the first-use funding fee is 2.15% of $400,000, or $8,600, which is added to the loan for a total of $408,600. At 6.25% for 30 years the principal and interest is $2,515.82; tax and insurance bring the total to about $2,974 a month.
Subsequent use with 5% down
Putting 5% down drops the fee to 1.5% even on a subsequent use, so the fee is $4,987.50 on a $332,500 base loan. The financed loan of $337,487.50 at 6.5% costs $2,133.15 in principal and interest, or about $2,550 including escrow.
Exempt veteran, 10% down, 15-year loan
A veteran exempt from the funding fee borrows exactly $450,000. Over 15 years at 6% the payment is $3,797.36, and adding tax, insurance and $50 HOA gives about $4,514 a month.
Frequently asked questions
What is the VA funding fee?+
It is a one-time charge paid to the VA on most VA-guaranteed loans to keep the program running for future borrowers. For purchase loans it ranges from 1.25% to 3.3% of the loan, depending on your down payment and whether you have used the benefit before.
Who is exempt from the VA funding fee?+
Veterans receiving VA compensation for a service-connected disability, those rated eligible for compensation, Purple Heart recipients on active duty, and surviving spouses receiving Dependency and Indemnity Compensation are generally exempt. Your Certificate of Eligibility shows your status.
Do VA loans require PMI?+
No. VA loans do not charge monthly private mortgage insurance, even with 0% down. The VA guaranty protects the lender instead, which is a major saving compared with conventional or FHA loans.
Can I pay the funding fee in cash instead?+
Yes. You can pay it at closing or have it added to the loan. Financing it avoids a large cash outlay but means you pay interest on the fee over the life of the loan.
Is there a VA loan limit?+
Borrowers with full entitlement have no VA loan limit, though lenders still require you to qualify on income and credit. With partial entitlement in use, county conforming loan limits affect how much you can borrow with no down payment.
What credit score do I need for a VA loan?+
The VA does not set a minimum score, but most lenders look for around 580–620 or higher. Lenders also review residual income and debt-to-income ratio, often using 41% as a benchmark.
Results are estimates for educational purposes and are not financial advice. Rates, fees and terms vary — confirm with your lender or a licensed advisor before making decisions.