VA mortgage calculator
Monthly VA home loan payment with the VA funding fee, taxes and insurance.
About this calculator
This VA mortgage calculator works out the monthly payment on a VA-backed home loan for veterans and service members.
It adds the right VA funding fee for your down payment and whether it is your first VA loan, plus property tax, insurance and HOA fees.
How it works
The VA funding fee is a share of the loan: 2.15% on first use with less than 5% down, 3.3% after first use, 1.5% with 5% down and 1.25% with 10% down. It is usually added to the loan, which is then repaid with level monthly payments.
Last reviewed:
Worked example
- Home price: $350,000
- Down payment: 0%
- VA loan use: First use
- Exempt from the funding fee: No
- Interest rate: 6.25% a year
- Loan term: 30 yr
- Property tax: 1.1% of value a year
- Home insurance: $1,500 a year
Monthly payment: $2,647.18 (including taxes and insurance)
Common questions
Who can get a VA home loan?
Eligible veterans, service members and some surviving spouses, who need a Certificate of Eligibility from the VA. Lenders also check credit and income.
Do VA loans need a down payment?
No, as long as the price isn't above the appraised value. A down payment does lower the funding fee.
Who doesn't pay the VA funding fee?
Veterans who receive VA disability compensation, active-duty Purple Heart recipients and some surviving spouses, among others.
Sources and further reading
The story behind it
Where the idea came from: VA home loans began with the Servicemen's Readjustment Act of 1944, the GI Bill, which helped millions of returning veterans buy homes.
The VA guarantees part of each loan, so lenders can offer no down payment and no monthly mortgage insurance. The funding fee helps pay for the program instead of taxpayers.
Why you can trust this calculator
- It runs in your browser. Nothing you type into it is sent anywhere.
- The method is explained on this page, so you can check it yourself.
- Free to use, with no sign-up.
- Results are estimates, not financial advice.
- Spotted a mistake? Tell us and we'll look into it.
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