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VA Mortgage Calculator

Estimate a VA loan payment with the VA funding fee, first-use or subsequent-use rates, property tax, homeowners insurance, HOA dues, closing costs, and the effect of financing the fee into the mortgage.

VA loan cost insight No monthly MI

VA loans generally do not add monthly mortgage insurance; a one-time funding fee may apply unless exempt.

Inputs

VA Loan Details and Housing Costs

Use this calculator to compare a zero-down VA loan, a larger down payment, a first-use or subsequent-use funding fee, and a funding-fee exemption.

Purchase and loan terms

Costs outside principal and interest

VA payment estimate $0

Your VA mortgage estimate will appear here.

VA funding fee $0
Funding fee rate 0%
Total VA loan $0
Cash needed $0

Monthly payment stack

P&I Tax Insurance HOA
Base loan before funding fee $0
Principal and interest $0
Estimated total interest $0
Housing payment plus debts $0

Formula used

Base loan = price - down payment. Funding fee = base loan x VA funding fee rate. Monthly payment = P&I + tax + insurance + HOA.

Method

How This VA Mortgage Calculator Works

The calculator first subtracts the down payment from the home price to estimate the base VA loan. It then applies the purchase-loan VA funding fee rate based on down payment size, first use or subsequent use, and whether the borrower is fee-exempt.

If the funding fee is financed, the calculator adds it to the loan balance before calculating principal and interest. If the fee is paid upfront, it is added to estimated cash needed instead. Property tax, homeowners insurance, and HOA dues are added separately because they can materially change the monthly housing cost.

VA-specific note

Funding Fee and Mortgage Insurance

VA loans generally do not require monthly mortgage insurance, which is one reason the payment structure differs from FHA and many conventional loans. Instead, many borrowers pay a one-time VA funding fee unless they qualify for an exemption.

For purchase and construction loans, VA lists different funding fee rates for first use and later use when the down payment is under 5%. At 5% or more down, the first-use and subsequent-use purchase rates are the same in the current VA table.

Practical examples

Common VA Loan Scenarios to Compare

The most useful VA mortgage estimate is usually not one number. Compare the same home price with several assumptions to see how cash, loan balance, and monthly payment shift.

Zero-down first use

A zero-down first-use VA purchase can reduce upfront cash, but the funding fee may be financed into the mortgage, increasing the loan balance and total interest over time.

Subsequent use

If you have used VA loan benefits before and put less than 5% down, the current purchase funding fee rate is higher than the first-use rate. This calculator makes that difference visible.

Funding fee exemption

Eligible exempt borrowers may avoid the funding fee entirely. That can lower the financed balance or reduce cash required at closing, depending on how the fee would otherwise be handled.

5% or 10% down

Putting at least 5% or 10% down can lower the VA funding fee rate. The tradeoff is using more cash upfront, so compare both cash needed and long-term interest.

Assumptions

What to Verify Before Relying on the Estimate

This calculator uses the VA purchase-loan funding fee table effective April 7, 2023. It does not verify Certificate of Eligibility, remaining entitlement, residual income, lender overlays, property eligibility, appraisal issues, discount points, escrow setup, seller concessions, or state-specific taxes.

Use the result as a planning estimate, then compare it with your lender's Loan Estimate and the official VA funding fee and closing costs guidance.

Before applying, check
  • VA entitlement and eligibility
  • Funding fee exemption status
  • Whether the funding fee is financed
  • Residual income and debt requirements
  • VA appraisal and property standards
  • Actual lender fees and discount points

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FAQ

VA Mortgage Calculator FAQ

Does this calculator include the VA funding fee?

Yes. It estimates the VA purchase funding fee based on down payment percentage, first-use or subsequent-use status, and whether you mark the borrower as exempt.

Why is the total VA loan larger than the home price?

If you choose to finance the VA funding fee and use little or no down payment, the fee is added to the mortgage balance. That can make the total loan larger than the base purchase loan.

Does a VA loan have PMI or monthly mortgage insurance?

VA loans generally do not have monthly PMI or monthly mortgage insurance. However, many borrowers pay a one-time VA funding fee unless they qualify for an exemption.

Can I use this for a VA refinance?

This page is built for a VA purchase estimate. VA cash-out refinance and IRRRL funding fee rules differ, so use a refinance-specific calculator or lender quote for refinance decisions.

Does this calculator prove VA loan eligibility?

No. Eligibility, entitlement, income, residual income, credit, debts, appraisal, and lender underwriting are separate from this payment estimate.

Disclaimer

This calculator is for general informational purposes and simple arithmetic checks. It is not a loan offer, VA approval, official disclosure, legal advice, tax advice, or financial advice. Verify VA funding fee status, eligibility, entitlement, closing costs, and lender terms with the U.S. Department of Veterans Affairs, your lender, or a qualified professional.