AllCalciHub logo AllCalciHub
Finance

VA Mortgage Calculator

Calculate your VA loan monthly payment, funding fee, and total loan amount with no PMI required.

What is VA Mortgage Calculator?

A VA mortgage calculator estimates monthly payments for VA home loans, available to eligible veterans, active-duty service members, and surviving spouses. VA loans require no down payment and no private mortgage insurance (PMI), but do include a one-time VA funding fee that can be financed into the loan.

How to use

  1. 1 Enter the home price.
  2. 2 Enter your down payment (VA loans allow 0% down).
  3. 3 Enter the annual interest rate.
  4. 4 Select the loan term.
  5. 5 Choose your funding fee type based on your usage and disability status.
  6. 6 See your monthly payment, funding fee, and total loan amount.

Formula

Funding fee is added to the loan: total loan = (price − down) + funding fee. Monthly payment uses standard amortization: P × r(1+r)ⁿ / [(1+r)ⁿ − 1]. No PMI is applied.

Example calculation

A $350,000 home with 0% down at 6.75% for 30 years, first-time VA use: loan = $350,000 + $8,050 (2.3%) = $358,050. Monthly payment ≈ $2,321.

Frequently asked questions

Who is eligible for a VA loan?

Veterans with sufficient service, active-duty members (90+ days wartime or 181+ days peacetime), National Guard/Reserve members with 6 years of service, and unremarried surviving spouses of veterans who died in service.

What is the VA funding fee?

The funding fee is a one-time charge that funds the VA loan program. First-time use: 2.3% with 0% down, 1.65% with 5–9.99% down, 1.4% with 10%+ down. Subsequent use: 3.6% with 0% down. Veterans with a service-connected disability rating are exempt.

Can I avoid the funding fee?

Yes, if you receive VA compensation for a service-connected disability, you are rated as eligible for compensation but receive retirement pay instead, or you are a surviving spouse of a veteran who died in service or from a service-connected disability.

Does a VA loan require a down payment?

No, VA loans allow 100% financing. However, making a down payment of 5% or 10% reduces your funding fee and lowers your monthly payment.

Is there a VA loan limit?

As of 2020, there are no VA loan limits for eligible borrowers with full entitlement. Limits still apply for borrowers with reduced entitlement. Lenders may still impose their own limits based on debt-to-income ratios.