The formula
How it works
Estimate the monthly payment on a VA home loan. Enter the price, any down payment, the rate, the term and the VA funding fee — which is usually rolled into the loan — to see your payment and the total cost.
FAQ
What is the VA funding fee?
It is a one-time fee that helps keep the VA loan program running. It ranges roughly from 1.25% to 3.3% of the loan depending on your down payment and whether it is your first VA loan. It can be paid upfront or, more commonly, financed into the loan, which is how this calculator treats it.
Do VA loans really need no down payment?
For most eligible borrowers, yes — VA loans allow 0% down, one of their biggest advantages, and they charge no private mortgage insurance. A down payment is optional and, if made, lowers the funding fee. Enter any amount you plan to put down and the calculator adjusts accordingly.
Who is exempt from the VA funding fee?
Veterans receiving VA disability compensation, and some surviving spouses, are typically exempt from the funding fee entirely. If that applies to you, set the fee to 0% to see the payment without it.
Does the funding fee increase if I use my VA loan benefit again?
Yes — for loans with less than 5% down, the fee is usually higher for a second or later use than for a first-time borrower. Putting down 5% or more brings subsequent-use rates closer to first-use rates.
Is mortgage insurance included in this estimate?
No, and VA loans do not require it — that is one of the main savings compared to conventional loans with less than 20% down. The payment shown here is principal and interest only, plus the financed funding fee.
What credit score do I need for a VA loan?
The VA itself sets no minimum credit score, but individual lenders do, typically looking for scores in the mid-600s or higher. This calculator estimates payments assuming approval; your actual rate will depend on your lender and credit profile.
Can I use a VA loan more than once?
Yes, VA loan entitlement can be reused, and in many cases restored after the previous loan is paid off or if you still have entitlement remaining. Each subsequent use may carry a different funding fee, as noted above.
About the VA mortgage calculator
This calculator estimates the monthly payment on a VA home loan — a mortgage backed by the US Department of Veterans Affairs for eligible service members, veterans and surviving spouses. VA loans allow no down payment and no private mortgage insurance, but charge a one-time funding fee that is usually financed into the loan. The calculator folds that fee in and computes the principal-and-interest payment.
How to use it
Enter the home price, any down payment (VA loans allow zero), the interest rate, the loan term and the VA funding fee percentage that applies to you. The calculator shows the financed loan amount including the fee, the monthly principal-and-interest payment, and the total interest over the loan. For example, a $350,000 home at 6.5% over 30 years with a 2.15% funding fee gives a payment in the low $2,000s.
The formula
First the funding fee is added to the base loan (price minus down payment) to give the financed amount. Then the monthly payment is the standard amortization formula, , where is the financed amount, the monthly rate and the number of payments. The figure covers principal and interest; property tax, insurance and HOA dues are additional.
Where it is used
Veterans and active service members use it when house-hunting to estimate what a VA loan will cost each month, and to compare it against conventional or FHA financing. Because the funding fee and zero-down structure make VA loans behave differently, a dedicated calculator gives a more accurate picture than a generic mortgage tool. It helps confirm affordability before applying.