VA Loan Calculator
Calculate VA loan payments for military members and veterans.
VA Loan Calculator for Veterans & Military
Calculate your VA loan payments with our specialized calculator for military members and veterans. VA loans offer unique benefits including zero down payment, no PMI requirements, and competitive rates. Use this calculator to estimate monthly payments and compare with conventional loan options.
VA Loan Benefits
- • No down payment required
- • No private mortgage insurance (PMI)
- • Competitive interest rates
- • Limited closing costs
Eligibility
- • Active duty service members
- • Veterans with honorable discharge
- • National Guard/Reserve members
- • Qualifying surviving spouses
Loan Details
VA Benefits & Status
Additional Costs
Monthly Payment
Total monthly payment (PITI)
Principal & Interest
Property Tax
Home Insurance
HOA Fees
VA Funding Fee
Loan Summary
Total Interest
Over 30 years
Total Payments
Principal + Interest
Principal vs Interest
Important Note
This calculator provides estimates for VA loan payments and benefits. Actual rates, fees, and eligibility depend on your Certificate of Eligibility, credit score, and lender requirements. Contact a VA-approved lender for personalized quotes and to verify your eligibility.
How it works
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs for eligible service members and veterans. It amortizes like any mortgage, but with two big differences: no down payment is required and there's no monthly PMI. Instead, most borrowers pay a one-time VA funding fee, which can be rolled into the loan.
Loan amount with funding fee
Loan = Price + (Price × fundingFeeRate) M = P · r(1 + r)ⁿ / [(1 + r)ⁿ − 1]
- fundingFeeRate
- one-time VA fee (e.g. 2.15% first use, 0% down)
- P
- total loan amount (price + funding fee)
- r
- monthly rate; n = payments
Worked example
- Home price = $350,000, $0 down
- First-use funding fee = 2.15% = $7,525
- Loan = $357,525 at 6.5%, 30 years
- Monthly P&I = 357,525 × amortization factor at 6.5%/30yr
Payment ≈ $2,260/month P&I — with no PMI, versus a conventional loan that would add ~$150–290/month in PMI at low down payment.
Good to know
- No PMI is the headline saving — on a conventional loan with little down, PMI alone can cost thousands per year until you hit 20% equity.
- The funding fee is waived for veterans with a service-connected disability; it also rises on subsequent uses.
- VA loans have no statutory loan limit for full-entitlement borrowers, but lenders still qualify you on income and credit.
Related Calculators
Frequently Asked Questions
Who is eligible for a VA loan?
Veterans and active-duty members meeting minimum service requirements (generally 90 days during wartime, 181 days during peacetime, or 6 years in the Guard or Reserves), plus many surviving spouses. You'll need a Certificate of Eligibility (COE) from the VA.
How much is the VA funding fee?
For purchases with zero down it's 2.15% of the loan on first use and 3.3% on subsequent uses. Putting 5% down lowers it to 1.5%, and 10% down to 1.25%. The fee can be financed into the loan.
Do VA loans really require no down payment?
Yes — qualified borrowers with full entitlement can finance 100% of the purchase price, with no monthly mortgage insurance. That combination is unique among mainstream loan programs.
How does a VA loan compare with a conventional loan?
VA loans offer zero down, no PMI, and typically lower rates, offset by the one-time funding fee. A conventional loan avoids the funding fee but needs 20% down to skip PMI and stronger credit for the best pricing.
Can I use my VA loan benefit more than once?
Yes. Entitlement is restored when you sell the home and pay off the loan, and you can even hold two VA loans at once using remaining entitlement — though the funding fee rises to 3.3% on subsequent zero-down uses.