VA Mortgage Calculator · Practical guide
15 Year vs 30 Year VA Loan
A 15-year VA loan roughly doubles your principal payoff speed and can save close to $200,000 in interest.
At a glance
The Short Answer
On a $300,000 VA purchase with 0% down at 6% (loan of $306,450 with the funding fee), the 30-year payment is about $1,837 a month with roughly $355,000 of total interest. The 15-year payment is about $2,586 a month — around $749 more — but total interest falls to roughly $159,000, saving about $196,000.
Interactive tool
VA Mortgage Calculator
Enter your own values, then compare the result with the examples below.
Side-by-Side Numbers
| 30-Year VA Loan | 15-Year VA Loan | |
|---|---|---|
| Total loan (2.15% fee financed) | $306,450 | $306,450 |
| Rate (example) | 6% | 6% |
| Monthly payment | ~$1,837 | ~$2,586 |
| Total interest | ~$355,000 | ~$159,000 |
| Total paid | ~$661,000 | ~$465,000 |
In practice 15-year rates usually run about half a point below 30-year rates, which widens the savings even further — rerun the comparison in the calculator above with your actual quotes.
Why the Interest Gap Is So Large
Early mortgage payments are mostly interest. A 30-year schedule at 6% spends its first years paying down principal very slowly — after 5 years of $1,837 payments you still owe around $285,000. The 15-year schedule attacks principal immediately, so far less interest ever accrues.
Which Term Fits a VA Borrower?
Choose 15 years if the higher payment stays comfortably inside your budget and you plan to keep the home. Choose 30 years for flexibility — you can always pay extra toward principal when cash allows, mimicking a 15-year schedule with an escape hatch. Either way, no PMI and no prepayment penalty keep both options cheap.
Frequently Asked Questions
Are 15-year VA loan rates lower than 30-year rates?
Usually yes. Shorter terms typically carry rates about 0.5 percentage points lower, which increases the interest savings of a 15-year loan.
Is the VA funding fee the same for 15 and 30 year loans?
Yes. The fee depends on down payment and first or subsequent use, not the term — 2.15% for first use with under 5% down on either term.
Can I pay off a 30-year VA loan early?
Yes. VA loans have no prepayment penalty, so extra principal payments let you build equity faster without committing to the higher 15-year payment.
How much more is the monthly payment on a 15-year VA loan?
On a $306,450 loan at 6%, about $749 more per month ($2,586 vs $1,837). The gap shrinks if the 15-year rate is lower, as is typical.