VA Mortgage Calculator
Estimate VA loan payments with funding fee and no private mortgage insurance.
What is a VA Loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs. It is available to eligible veterans, active-duty service members, and certain surviving spouses. VA loans offer competitive rates, no down payment options, and no private mortgage insurance.
How to Use This Calculator
- Enter the home price and your down payment percentage.
- Input the interest rate and loan term.
- Set the VA funding fee percentage (varies by first/subsequent use and down payment).
- Click Calculate to see payments and total cost.
FAQ
Do VA loans require a down payment?
No. VA loans allow 0% down payment for eligible borrowers, though a down payment can reduce the funding fee.
What is the VA funding fee?
The funding fee is a one-time charge that helps offset the cost of the VA loan program. It can be paid at closing or financed into the loan.
Is there PMI on VA loans?
No. VA loans do not require private mortgage insurance, which can save borrowers significantly each month.
How does the funding fee change with down payment?
For first-time use, the fee is typically 2.15% with 0% down, 1.5% with 5-9.99% down, and 1.25% with 10% or more down.