download.fan

VA Loan Calculator

Calculate a VA home loan payment with the VA funding fee, property tax and insurance. No PMI and no down payment needed. Free VA mortgage calculator.

Monthly payment
$2,618.01
Principal and interest
$2,201.34
Taxes and insurance
$416.67
Funding fee (2.15%)
$7,525
Loan amount with fee
$357,525
Total interest
$434,958
Mortgage insurance (PMI)
None on VA loans

VA loans: no down payment, no PMI

VA loans let eligible veterans, service members and surviving spouses buy with no down payment and no private mortgage insurance. Instead there's a one-time VA funding fee, usually added to the loan: 2.15% on first use with under 5% down, 3.3% on later use, and less with 5% or 10% down. Veterans with a service-connected disability are exempt. A $350,000 home with nothing down at 6.25% has a $7,525 fee and a $2,201 monthly principal and interest payment.

How to use it

  1. 1

    Enter the home price

    And any down payment as a percentage.

  2. 2

    Set the rate and loan use

    Interest rate, term and first or subsequent use.

  3. 3

    See your payment

    Monthly payment with taxes and insurance, and the funding fee.

Frequently asked questions

How much is the VA funding fee?

For purchases: 2.15% first use (3.3% after) with under 5% down, 1.5% with 5–10% down, 1.25% with 10% or more.

Do VA loans need PMI?

No. That's one of their main advantages over conventional and FHA loans with small down payments.

Who is exempt from the funding fee?

Veterans receiving VA disability compensation, some surviving spouses and Purple Heart recipients on active duty.

Is anything stored?

No. The calculation runs in your browser.

Finance calculators

Related tools