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VA Mortgage Payment Calculator

Calculate VA Loan payments including the Funding Fee.

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Results

Monthly P&I
VA Funding Fee-
Total Loan Amount-

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Assumptions

  • Calculated locally from the inputs shown in this report.

Sensitivity preview

No numeric sensitivity scenarios are available.

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About this VA Mortgage

The VA Loan is one of the best benefits available to military veterans and active duty service members. It allows for $0 down payment and no private mortgage insurance (PMI). However, most borrowers must pay a one-time VA Funding Fee, which is usually financed into the loan.

How to use this calculator

  1. Enter the Home Price.
  2. Enter any Down Payment (Optional, but lowers the Funding Fee).
  3. Select your Use Type (First-time use vs Subsequent use affects the fee).
  4. If you have a service-connected disability rating of 10% or higher, select Exempt to waive the fee.

Accuracy and testing

Review formula sources, default test cases, assumptions, unit handling, rounding rules, and changelog for this calculator.

View accuracy page

How this calculator works

1. Base Loan = Price - Down Payment. 2. Funding Fee = Base Loan * Fee %. 3. Total Loan = Base Loan + Funding Fee. 4. Monthly Payment is calculated on the Total Loan amount.

Inputs explained

Use Type

First-time users pay a lower fee (2.15% with 0% down). Subsequent users pay a higher fee (3.3% with 0% down). Putting 5% or 10% down lowers these rates.

Disability Exempt

Veterans with a service-connected disability rating of 10% or more are completely exempt from the VA Funding Fee.

Understanding your results

The Monthly P&I is your principal and interest. The VA Funding Fee shown is the amount added to your loan balance at closing.

Example scenarios

First Use 0% Down

Price $300k. Fee 2.15% ($6,450). Total Loan $306,450.

Subsequent Use 0% Down

Price $300k. Fee 3.3% ($9,900). Total Loan $309,900.

Disabled Vet

Price $300k. Fee 0%. Total Loan $300,000.

Key Features

  • Funding Fee Integration
  • First/Subsequent Use Logic
  • Disability Exemption Support

Things to Keep in Mind

Funding fee rates are based on standard 2024 charts. Rates may vary slightly for Reservists/National Guard in some historical contexts, though mostly unified now.

Tips & Best Practices

  • Even a small down payment (5%) can significantly lower your Funding Fee percentage.
  • The Funding Fee can be paid in cash at closing, but almost everyone rolls it into the loan.
  • VA interest rates are often lower than conventional rates.

Glossary of Terms

Funding Fee
A one-time fee paid to the VA to help keep the loan program running. It replaces Mortgage Insurance.
Entitlement
The dollar amount the VA guarantees to repay the lender if you default.
Certificate of Eligibility (COE)
The document that proves to a lender you qualify for a VA loan.

Frequently Asked Questions

Do VA loans have PMI?
No. VA loans do not require Private Mortgage Insurance (PMI), regardless of down payment size. This is a huge monthly saving compared to FHA or Conventional loans.
Can I use a VA loan more than once?
Yes. You can reuse your benefit indefinitely, but the Funding Fee is higher for subsequent uses (unless exempt).
Is the Funding Fee refundable?
Generally no, unless you are awarded disability compensation retroactively to a date prior to loan closing.