VA Home Loan Mortgage Calculator
Estimate your monthly payment, VA funding fee, cash needed at closing, and total borrowing costs.
Home Purchase Details
Monthly Housing Costs
Closing Costs
Optional Affordability Check
Monthly Payment Breakdown
Loan & Closing Summary
Long-Term Loan Cost
Optional Affordability Estimate
How This Mortgage Calculator Works
This tool estimates your monthly housing payment using the purchase price, down payment, interest rate, loan term, property taxes, homeowners insurance and HOA fees. It also includes an estimate of the one-time VA funding fee when applicable.
You can choose to finance the funding fee or pay it at closing. The actual fee depends on your loan type, benefit usage, down payment and eligibility for an exemption. Confirm the applicable rate with your lender and the Department of Veterans Affairs.
What Is a VA-Backed Home Loan?
A VA-backed home loan is issued through a private lender, with the Department of Veterans Affairs providing a guaranty under program rules. Eligible borrowers may be able to purchase a home with no down payment, subject to lender approval, entitlement and other requirements.
What Is the VA Funding Fee?
The funding fee is a one-time charge that may apply to a VA-backed loan. It can generally be paid at closing or financed into the loan. The rate depends on factors such as the type of loan, down payment and whether the borrower has used the benefit previously.
Some borrowers are exempt. Do not assume that the calculator’s default funding fee applies to every applicant. Verify your eligibility before making a financial decision.
Does a VA Loan Require Mortgage Insurance?
VA-backed loans generally do not require monthly private mortgage insurance. However, borrowers may still pay interest, lender charges, property taxes, homeowners insurance, closing costs and other expenses.
What Is Included in the Monthly Payment?
The estimate includes principal and interest, monthly property taxes, homeowners insurance and HOA fees. Some costs may be paid separately rather than through an escrow account, so compare the result with your lender’s Loan Estimate.
Is the Result a Guaranteed Loan Offer?
No. This tool is a planning estimate. Your actual interest rate, funding fee, closing costs, entitlement, loan approval and monthly payment depend on your situation and lender. The VA itself does not determine all lender fees or interest rates.
Frequently Asked Questions
Can I buy a home with no down payment using a VA loan?
Eligible borrowers may qualify for a VA-backed purchase loan with no down payment, subject to entitlement, lender approval, property requirements and other applicable conditions.
How is the VA funding fee calculated?
The funding fee depends on the loan type, down payment, and whether the borrower is using the benefit for the first time or a subsequent time. Exempt borrowers may not have to pay it.
Can the funding fee be added to the loan?
The funding fee can generally be financed into a qualifying loan or paid upfront. Financing it increases the loan balance and can increase the interest paid over time.
Does this calculator include property taxes and insurance?
Yes. You can enter annual property taxes and homeowners insurance. The tool converts those amounts into monthly estimates.
Does a VA loan have monthly PMI?
VA-backed loans generally do not require monthly private mortgage insurance. Other costs can still apply, including interest, taxes, insurance and lender charges.
Can I use the calculator for a subsequent VA loan?
Yes. Select subsequent use to apply the calculator’s corresponding default purchase-loan funding fee assumption. Confirm the actual applicable rate with your lender.
Does the calculator determine VA loan eligibility?
No. It estimates costs and payments only. Eligibility and approval depend on VA requirements, entitlement, lender standards, income, credit, property details and other factors.
Why is my lender’s payment different?
Your lender may use a different interest rate, fees, funding fee, escrow estimate, prepaid costs or loan structure. Use the lender’s official Loan Estimate for transaction-specific figures.