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VA loans, available to eligible veterans and service members, allow 0% down and charge no ongoing monthly mortgage insurance — instead, a one-time funding fee is charged based on your down payment and whether it's your first time using your entitlement.
This calculator finds your VA loan monthly payment, including the financed funding fee.
How it works
Enter the home price, down payment percentage, interest rate, term, and whether this is your first use of VA entitlement. The calculator looks up the funding fee rate from the standard VA schedule, finances it into the loan, and calculates your monthly payment.
- Enter home price ($).
- Enter down payment (%).
- Enter annual interest rate (%).
- Enter term (years).
- Enter first use of VA entitlement?.
- Click Calculate to see your results.
Examples
$350,000 home, 0% down, first use
A $350,000 home with 0% down, first-time VA entitlement use, and a 6.25% rate over 30 years has a $2,201.34 monthly payment, with a $7,525 funding fee financed into the loan.
Who should use it
- Estimating monthly payments before using VA loan benefits to buy a home.
- Comparing the total cost of a VA loan against an FHA or conventional loan.
Industry applications
- VA lending and military benefits counseling
- Mortgage origination
Advantages
- Accurately models the VA funding fee schedule based on down payment and entitlement usage.
- Reflects the real VA loan advantage of no monthly mortgage insurance.
Limitations
- Doesn't account for funding fee exemptions (like VA disability compensation).
Common mistakes to avoid
- Forgetting that the "first use" answer changes the funding fee rate significantly, especially with a low down payment.
- Assuming VA loans have mortgage insurance like FHA loans do — they don't.
Best practices
- Check whether you qualify for a funding fee exemption (such as VA disability compensation) before assuming the fee applies to your situation.
Tips
- A larger down payment (10%+) significantly reduces the VA funding fee rate — worth considering if you have the cash available and want to minimize upfront financed costs.