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VA Mortgage Calculator
About the VA Mortgage Calculator
Estimate the payment on a VA home loan for eligible veterans and service members, including the VA funding fee.
How to use the VA Mortgage Calculator
- Enter the Home Price, Down Payment, Interest Rate (%) and choose 15 or 30 years.
- Choose the Military Use Type: First Time Use or Subsequent Use.
- Choose whether you are Funding Fee Exempt (for example with a service-connected disability), then press Calculate VA Loan.
Formula and method
The loan amount is the price minus the down payment, plus the funding fee if it is financed. The payment then follows the standard loan formula. The funding fee percentage depends on the down payment and whether it is a first or later use.
When to use the VA Mortgage Calculator
- Estimating payments on a VA-backed home loan.
- Seeing the effect of the VA funding fee.
- Comparing a zero-down VA loan with a loan with a deposit.
Common mistakes to avoid
- Ignoring the funding fee, which is usually added to the loan.
- Assuming everyone qualifies. VA loans are for eligible service members, veterans and some spouses.
Tips
- VA loans usually need no down payment and no monthly mortgage insurance.
- Funding fee rates are set by the VA, so confirm the current table with your lender.
Frequently Asked Questions
Eligible veterans, active-duty service members and certain surviving spouses, subject to service requirements.
Many do not require one, subject to lender rules and loan limits.
No. VA loans do not charge monthly mortgage insurance, but most have a one-time funding fee.