VA Mortgage Calculator

How to use this calculator

1. Enter or choose home price.
2. Enter or choose down payment.
3. Enter or choose interest rate (per year).
4. Enter or choose loan term.
5. Enter or choose vA loan use.
6. The total monthly payment updates as you type. Use Copy result or Share to keep it.

Method

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

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

1. No down payment, first use: funding fee = 2.15% × 350,000 = $7,525, added to give a $357,525 loan.
2. P&I on $357,525 at 6.25% over 360 months = $2,201.34.
3. Tax and insurance = (3,500 + 1,400) ÷ 12 = $408.33, so the total is $2,609.68.

A $350,000 home with no money down costs about $2,610 a month, including a $7,525 funding fee rolled into the loan.

What the result means

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 and limits

• 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.
• 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.

Jurisdiction

United States

Rates effective from

7 April 2023

Authority

US Department of Veterans Affairs

Rates last checked

29 October 2026

Sources

• VA funding fee and loan closing costs (va.gov)