{
    "name": "VA Mortgage Calculator",
    "url": "https://calculators.geekmidst.com/calculators/va-mortgage-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/va-mortgage-calculator.md",
    "category": "Finance",
    "description": "Estimate a VA home loan payment with the VA funding fee for first or later use, based on your down payment, plus property tax and homeowners insurance.",
    "summary": "VA-backed home loans need no down payment and no monthly mortgage insurance, but most borrowers pay a one-time VA funding fee. The fee depends on your down payment and whether you have used a VA loan before.",
    "also_called": [
        "VA loan calculator",
        "VA home loan calculator"
    ],
    "applies_to": "United States",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "price",
            "label": "Home price",
            "type": "number",
            "default": "350000"
        },
        {
            "name": "down_pct",
            "label": "Down payment",
            "type": "number",
            "default": "0",
            "unit": "%"
        },
        {
            "name": "rate",
            "label": "Interest rate (per year)",
            "type": "number",
            "default": "6.25",
            "unit": "%"
        },
        {
            "name": "years",
            "label": "Loan term",
            "type": "select",
            "default": "30",
            "options": {
                "10": "10 years",
                "15": "15 years",
                "20": "20 years",
                "25": "25 years",
                "30": "30 years"
            }
        },
        {
            "name": "use",
            "label": "VA loan use",
            "type": "segmented",
            "default": "first",
            "options": {
                "first": "First use",
                "subsequent": "After first use"
            }
        },
        {
            "name": "exempt",
            "label": "Exempt from the funding fee?",
            "type": "segmented",
            "default": "no",
            "options": {
                "no": "No",
                "yes": "Yes"
            }
        },
        {
            "name": "finance_fee",
            "label": "Funding fee",
            "type": "segmented",
            "default": "yes",
            "options": {
                "yes": "Add to loan",
                "no": "Pay in cash"
            }
        },
        {
            "name": "tax",
            "label": "Property tax (per year)",
            "type": "number",
            "default": "3500",
            "optional": true
        },
        {
            "name": "insurance",
            "label": "Homeowners insurance (per year)",
            "type": "number",
            "default": "1400",
            "optional": true
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "currency",
            "default": "USD"
        }
    ],
    "outputs": [
        {
            "key": "monthly_total",
            "label": "Total monthly payment",
            "format": "currency"
        },
        {
            "key": "monthly_pi",
            "label": "Principal and interest",
            "format": "currency"
        },
        {
            "key": "funding_fee",
            "label": "VA funding fee",
            "format": "currency"
        },
        {
            "key": "funding_fee_pct",
            "label": "Funding fee rate",
            "format": "percent"
        },
        {
            "key": "loan_amount",
            "label": "Total loan amount",
            "format": "currency"
        },
        {
            "key": "total_interest",
            "label": "Total interest over the term",
            "format": "currency"
        },
        {
            "key": "cash_at_closing",
            "label": "Down payment + fee paid in cash",
            "format": "currency"
        }
    ],
    "formula": {
        "text": "Base loan B = Price × (1 − Down%);  Funding fee = B × fee%;  Loan L = B + fee (if financed);  Payment = PMT(L, rate ÷ 12, n) + (tax + insurance) ÷ 12",
        "variables": {
            "fee%": "VA purchase-loan rate: under 5% down 2.15% (first use) or 3.3% (after first use); 5% or more down 1.5%; 10% or more down 1.25%; 0% if exempt",
            "n": "term in months"
        }
    },
    "worked_example": {
        "inputs": {
            "price": "350000",
            "down_pct": "0",
            "rate": "6.25",
            "years": "30",
            "use": "first",
            "exempt": "no",
            "finance_fee": "yes",
            "tax": "3500",
            "insurance": "1400",
            "currency": "USD"
        },
        "steps": [
            "No down payment, first use: funding fee = 2.15% × 350,000 = $7,525, added to give a $357,525 loan.",
            "P&I on $357,525 at 6.25% over 360 months = $2,201.34.",
            "Tax and insurance = (3,500 + 1,400) ÷ 12 = $408.33, so the total is $2,609.68."
        ],
        "result": "A $350,000 home with no money down costs about $2,610 a month, including a $7,525 funding fee rolled into the loan."
    },
    "interpretation": "Putting 5% down cuts the fee rate from 2.15% to 1.5% (and 10% down to 1.25%), which also lowers the payment. If you are exempt, set the option to Yes; the saving is immediate.",
    "assumptions": [
        "Funding fee rates are VA’s published rates for purchase and construction loans, effective 7 April 2023.",
        "Fixed-rate loan with level monthly payments.",
        "No monthly mortgage insurance, as VA loans do not require it."
    ],
    "limitations": [
        "Cash-out refinance, IRRRL and assumption loans have different fee rates and are not covered.",
        "Closing costs and lender fees are not included; VA limits some of them but they still apply."
    ],
    "rules": {
        "jurisdiction": "United States",
        "effective_from": "2023-04-07",
        "authority": "US Department of Veterans Affairs",
        "checked": "2026-10-29",
        "review_after": "2027-04-29"
    },
    "faqs": [
        {
            "question": "Who does not have to pay the VA funding fee?",
            "answer": "Among others, Veterans receiving VA compensation for a service-connected disability, surviving spouses receiving Dependency and Indemnity Compensation, and active-duty Purple Heart recipients who show evidence before closing. Your Certificate of Eligibility confirms it."
        },
        {
            "question": "Is there mortgage insurance on a VA loan?",
            "answer": "No. The funding fee replaces monthly mortgage insurance."
        }
    ],
    "sources": [
        {
            "title": "VA funding fee and loan closing costs (va.gov)",
            "url": "https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/"
        }
    ],
    "related": [
        {
            "name": "FHA Loan Calculator",
            "url": "https://calculators.geekmidst.com/calculators/fha-loan-calculator"
        },
        {
            "name": "Mortgage Calculator",
            "url": "https://calculators.geekmidst.com/calculators/mortgage-calculator"
        },
        {
            "name": "Mortgage Amortization Calculator",
            "url": "https://calculators.geekmidst.com/calculators/mortgage-amortization-calculator"
        },
        {
            "name": "Down Payment Calculator",
            "url": "https://calculators.geekmidst.com/calculators/down-payment-calculator"
        }
    ],
    "disclaimer": "This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ.",
    "publisher": "GM¹X CalcVerse"
}