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VA Loan Calculator
Estimate a VA home loan payment with zero or any down payment. The calculator applies the VA funding fee for first or subsequent use (or exemption), lets you finance it, and adds property tax, insurance and HOA. VA loans have no monthly mortgage insurance, and you get a yearly amortization schedule.
Last updated:
Home & loan
$
% / yr
VA funding fee
%
Taxes, insurance & HOA
$/ yr
$/ yr
$/ mo
Enter your values to see the result.
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How to use the VA Loan Calculator
- Enter the home price and down payment (0 is allowed for VA loans).
- Set the interest rate and loan term.
- Choose first use, subsequent use or exempt, or enter a custom funding fee %.
- Choose whether to finance the funding fee and add taxes, insurance and HOA.
- Read the monthly payment, funding fee and total loan, then review the amortization schedule.
How a VA loan payment is calculated
- Base loan = home price − down payment.
- Funding fee = base loan × fee rate (set by your down payment and whether it is your first VA loan).
- Total loan = base loan + funding fee when the fee is financed.
- Principal & interest = L × r(1 + r)n ÷ ((1 + r)n − 1), with r = annual rate ÷ 12 and n = months.
- Monthly payment = P&I + property tax ÷ 12 + insurance ÷ 12 + HOA. There is no monthly mortgage insurance.
Example: a $350,000 home with 0% down, first use: fee = 2.15% × $350,000 = $7,525, total loan $357,525. At 6.25% for 30 years P&I is about $2,201.34.
VA funding fee rates (purchase loans from April 7, 2023)
| Down payment | First use | Subsequent use | Fee on a $300,000 loan (first use) |
|---|---|---|---|
| Less than 5% | 2.15% | 3.30% | $6,450.00 |
| 5% to less than 10% | 1.50% | 1.50% | $4,500.00 |
| 10% or more | 1.25% | 1.25% | $3,750.00 |
Borrowers receiving VA disability compensation and some others are exempt from the fee. Rates for refinances and other loan types differ.
Frequently asked questions
How much is the VA funding fee?
For purchase loans closed on or after April 7, 2023: first use costs 2.15% with less than 5% down, 1.5% with 5% to under 10% down and 1.25% with 10% or more down. Subsequent use costs 3.3% with less than 5% down and the same 1.5% and 1.25% with larger down payments. Check the VA website for the latest rates.
Who is exempt from the VA funding fee?
Veterans receiving VA compensation for a service-connected disability, eligible surviving spouses receiving Dependency and Indemnity Compensation, Purple Heart recipients on active duty, and certain others are exempt. Choose the exempt option to see a 0% fee.
Can I finance the funding fee?
Yes. Most borrowers add it to the loan amount, so there is no cash due at closing for the fee. You then pay interest on it over the life of the loan; the calculator shows how much.
Do VA loans have PMI?
No. VA loans do not charge monthly private mortgage insurance, even with 0% down. The one-time funding fee takes its place.
Do I need a down payment for a VA loan?
Eligible borrowers with full entitlement can usually buy with no down payment. Putting 5% or 10% down lowers the funding fee and the loan amount.
Are property taxes and insurance included?
Yes, if you enter them. The monthly payment includes principal, interest and one twelfth of the yearly property tax and homeowners insurance, plus any HOA fee.
Is my information private?
Yes. Everything is calculated in your browser and nothing is uploaded.
Are all the tools on FreeToolCabin tested for quality and accuracy?
Yes! Every tool on our site undergoes automated Q/A testing in real browser environments to ensure high precision, correct output, and zero errors. If you happen to spot a bug or have a suggestion, please contact us at [email protected] and our team will review it right away.
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