VA Loan Calculator
Calculate your VA loan monthly payment, VA funding fee, and total loan cost — built specifically for U.S. veterans, active-duty service members, and eligible surviving spouses.
Loan Details
Taxes & Insurance
How to Use
- 1Enter your home price and down payment — VA loans allow 0% down with no PMI requirement.
- 2Select your service type and whether this is your first or subsequent VA loan use to determine your funding fee rate.
- 3Check the disability exemption box if you have a VA-rated service-connected disability — this waives the funding fee entirely.
- 4Enter taxes, insurance, and HOA then click Calculate to see your full monthly payment, funding fee, total loan cost, and VA vs conventional comparison.
Example Calculation
Inputs
Home Price: $350,000 | Down Payment: $0 (0%) | Interest Rate: 6.5% | Loan Term: 30 years | Service Type: Regular Military | First Use | Disability Exemption: No | Tax: $4,200/yr | Insurance: $1,200/yr | HOA: $0
Verified Results
VA vs Conventional (same rate, 0% down)
"Despite financing the $7,525 funding fee into the loan, the VA loan saves $200.35 every month compared to a conventional loan at the same rate — because VA loans never require PMI."
Frequently Asked Questions
Q1: What is the VA funding fee and how is it calculated?
A1: The VA funding fee is a one-time fee charged by the Department of Veterans Affairs to sustain the VA home loan program. It is calculated as a percentage of your base loan amount — for Regular Military on first use with 0% down, the rate is 2.15%. On a $350,000 loan that equals $7,525.00. This calculator automatically looks up the correct rate based on your service type, usage, and down payment percentage, and finances the fee into your total loan amount.
Q2: How does making a down payment reduce my funding fee?
A2: Putting down 5% or more reduces the funding fee to 1.50% for both first and subsequent VA loan use, regardless of service type. Putting down 10% or more reduces it further to 1.25% for Regular Military. For example, on a $350,000 home, a 5% down payment ($17,500) reduces the funding fee from $7,525 (2.15%) to $4,987.50 (1.50%) — a saving of $2,537.50 on the fee alone.
Q3: Why is the Total Loan Amount higher than the Home Price?
A3: When you finance the VA funding fee into the loan (which most borrowers do to preserve cash at closing), it is added on top of the purchase price. For example, a $350,000 home with a 2.15% funding fee results in a total loan of $357,525 — giving an LTV of 102.15%. This is normal and permitted under VA loan guidelines.
Q4: How does the VA vs Conventional comparison work?
A4: This calculator compares your VA loan against a conventional loan for the same home at the same interest rate with 0% down. The conventional loan requires PMI at 0.85% of the loan annually ($247.92/month in this example) since the down payment is below 20%. The VA loan eliminates PMI entirely, which typically makes it the lower monthly cost option even after financing the funding fee.
Q5: Who qualifies for a disability exemption on the funding fee?
A5: Veterans who have a VA-rated service-connected disability are fully exempt from paying the VA funding fee — saving thousands of dollars. Surviving spouses of veterans who died in service or from a service-connected disability are also exempt. Check the disability exemption box in this calculator to see your results with the funding fee set to $0.00.
This calculator provides estimates for informational purposes only. Actual VA loan terms and funding fees may vary based on your Certificate of Eligibility (COE) and lender requirements. Consult a licensed mortgage professional before making financial decisions.