About the VA Loan Calculator
VA home loans let eligible veterans, service members and some surviving spouses buy a home with no down payment and no monthly mortgage insurance. Most borrowers pay a one-off VA funding fee instead, which depends on the down payment and whether it is the first VA loan. This calculator works out the funding fee, adds it to the loan if you choose, and estimates the monthly payment including property tax and home insurance. It also shows the total interest over the term so you can compare 15-year and 30-year options.
Updated October 2026
How to use the VA Loan Calculator
- 1Enter the home price and any down payment.
- 2Enter the interest rate and choose the loan term.
- 3Say whether this is your first VA loan and whether you are exempt from the funding fee.
- 4Choose whether to add the funding fee to the loan.
- 5Add yearly property tax and insurance, then read the monthly payment.
How the payment is built
The loan amount is the price minus the down payment, plus the funding fee if you finance it. That amount is repaid in equal monthly instalments of principal and interest over the term. Property tax and home insurance are added as one twelfth of their yearly cost, because most lenders collect them monthly into an escrow account.
Funding fee table for purchases
These are the rates the calculator uses for purchase and construction loans.
- First use, less than 5% down: 2.15%
- First use, 5% to under 10% down: 1.5%
- First use, 10% or more down: 1.25%
- Later use, less than 5% down: 3.3%
- Later use, 5% or more down: 1.5% or 1.25%
Financing the fee or paying it upfront
Adding the fee to the loan means less cash at closing but slightly higher payments and more interest over time. On a $300,000 loan with no down payment, the first-use fee is $6,450; financing it at 6% over 30 years adds about $39 a month. Paying it upfront keeps the loan smaller, and a seller can sometimes agree to pay it as part of the deal.
Comparing loan terms
A 15-year VA loan has a higher monthly payment but saves a large amount of interest. Change the term in the calculator and compare the monthly figure with the total interest row. Also try a few rates: a quarter of a percentage point makes a noticeable difference to both numbers.
On your phone at an open house
Type the asking price and a rate on your phone to see the likely payment straight away. Nothing is saved or sent anywhere. A VA loan is one choice among several. Compare an FHA loan with the FHA Loan Calculator, see what you can afford with the House Affordability Calculator, and plan savings with the Down Payment Calculator.
Features
- Current VA funding fee table
- First use and later use
- Fee exemption option
- Fee financed or paid upfront
- Payment with taxes and insurance
- Total interest over the loan
Frequently asked questions
What is the VA funding fee?
A one-time charge that helps fund the VA loan programme. For purchase loans closed on or after 7 April 2023 it is 2.15% of the loan for first use with less than 5% down, 1.5% with 5% to under 10% down, and 1.25% with 10% or more down.
How much is the fee if I have used a VA loan before?
3.3% with less than 5% down. With 5% or more down it is the same as first use: 1.5% or 1.25%.
Who doesn't have to pay the funding fee?
Veterans receiving VA compensation for a service-connected disability, some surviving spouses, and service members who received a Purple Heart, among others. Your Certificate of Eligibility shows whether you are exempt.
Do VA loans have PMI?
No. VA loans have no monthly private mortgage insurance, which is one of their biggest savings compared with conventional loans with less than 20% down.
Can I put nothing down?
Yes, as long as the price is within what the lender approves and your entitlement covers it. Putting 5% or 10% down lowers the funding fee and the monthly payment.
Is the payment shown exact?
It is an estimate. Your lender's Loan Estimate includes exact taxes, insurance, closing costs and any HOA fees.