VA Loan Calculator

The VA Loan Calculator computes your monthly payment for a VA-guaranteed home loan, including the VA funding fee. VA loans are available to eligible veterans, active-duty service members, and surviving spouses, offering some of the best mortgage terms available — including zero down payment and no private mortgage insurance (PMI).

VA loans are backed by the U.S. Department of Veterans Affairs and are provided by private lenders. They consistently offer competitive interest rates — typically 0.25-0.5% lower than conventional rates — because the VA guarantee reduces lender risk. There is no minimum credit score set by the VA (though lenders typically require 620+), and there is no loan limit for borrowers with full entitlement.

Instead of PMI, VA loans charge a one-time funding fee that varies based on service type, down payment amount, and whether it is the borrower's first VA loan use. The fee ranges from 1.25% to 3.3% of the loan amount and is typically rolled into the loan. Veterans with service-connected disabilities are exempt from the funding fee, making VA loans even more affordable for this group.

For first-time VA loan use with no down payment, the funding fee is 2.15% for regular military and 2.3% for Reserves/National Guard members. Making a down payment of 5% or more reduces the fee, and a 10%+ down payment further reduces it to just 1.25%. Subsequent use carries higher fees (3.3% with no down payment) unless the veteran has a service-connected disability.

This calculator accounts for the funding fee (which increases the loan balance) and provides the true monthly cost including estimated property tax and insurance. VA loans are available for primary residences only, including single-family homes, condos (VA-approved), and multi-unit properties (up to 4 units if you live in one).