VA Loan Calculator
Estimate your monthly VA home loan payment, the VA funding fee and your total cost. Includes property tax, homeowners insurance and the funding fee exemption.
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About the VA Loan Calculator
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, service members and some surviving spouses. It often needs no down payment and no monthly mortgage insurance, but most borrowers pay a one-time VA funding fee. This calculator adds the fee to your loan and estimates your full monthly payment.
How to use it
- Enter the home price, down payment, interest rate and loan term.
- Choose first or subsequent use, and whether you are exempt from the funding fee.
- Add property tax and insurance, then press Calculate VA loan.
VA funding fee rates (purchase loans)
| Down payment | First use | Subsequent use |
|---|---|---|
| Less than 5% | 2.15% | 3.3% |
| 5% to less than 10% | 1.5% | 1.5% |
| 10% or more | 1.25% | 1.25% |
Veterans receiving VA compensation for a service-connected disability and certain surviving spouses are exempt. Rates can change, so confirm with the VA or your lender.
VA loan benefits
- Often no down payment required.
- No monthly PMI, which can save hundreds of dollars a month.
- Competitive interest rates because of the VA guarantee.
- Limited closing costs and no prepayment penalty.
- The funding fee can be rolled into the loan.
Frequently asked questions
How much is the VA funding fee?
For a first-use purchase with no down payment it is 2.15% of the loan. It drops to 1.5% with 5% down and 1.25% with 10% down. Subsequent use with no down payment is 3.3%.
Do VA loans require a down payment?
Not usually. Eligible borrowers can often buy with 0% down if the lender approves the loan and the price is supported by the appraisal.
Do VA loans have PMI?
No. VA loans do not charge monthly mortgage insurance. The funding fee replaces it.
Who is exempt from the VA funding fee?
Veterans receiving VA disability compensation, those entitled to it, and some surviving spouses are exempt.
Is the funding fee financed?
Yes, most borrowers add it to the loan balance. This calculator does the same.
Last reviewed: November 2026. Estimates only. Your lender and the VA set the final funding fee and terms.