VA Loan Mortgage Calculator
A VA loan is one of the most powerful home financing benefits available to eligible service members and veterans. Backed by the U.S. Department of Veterans Affairs, VA loans offer flexible qualification standards, competitive rates, and often no down payment requirement.
Our VA Loan Mortgage Calculator helps you quickly estimate:
- Down payment amount
- Base loan amount
- VA funding fee
- Total financed loan
- Monthly principal & interest
- Monthly taxes, insurance & HOA
- Total monthly payment
- Total interest over the life of the loan
- Total cost of the loan
This tool gives you a complete breakdown of what your VA mortgage will truly cost — both monthly and long-term.
What Is a VA Loan?
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs and issued by private lenders. The government guarantee allows lenders to offer favorable loan terms.
Key Benefits of VA Loans:
✔ No private mortgage insurance (PMI)
✔ Low or zero down payment
✔ Competitive interest rates
✔ Flexible credit standards
✔ No loan limits (for eligible borrowers with full entitlement)
Most VA loans require a VA funding fee, which supports the program and keeps it running for future veterans.
What Does This VA Loan Calculator Estimate?
This calculator performs a full mortgage breakdown including:
1️⃣ Down Payment Amount
Based on the percentage you enter.
2️⃣ Base Loan Amount
Purchase price minus down payment.
3️⃣ VA Funding Fee
Calculated based on:
- First-time use vs. subsequent use
- Down payment percentage
- Exemption status
4️⃣ Total Loan Amount
Base loan + funding fee (if financed).
5️⃣ Monthly Principal & Interest
Calculated using standard amortization formula.
6️⃣ Total Monthly Payment
Includes:
- Principal & Interest
- Property tax (monthly)
- Homeowners insurance (monthly)
- HOA fees
7️⃣ Total Interest Paid
Interest over entire loan term.
8️⃣ Total Cost of Loan
Principal + interest + funding fee + down payment.
How to Use the VA Loan Mortgage Calculator
Using the calculator takes less than a minute.
Step 1: Enter Home Purchase Price
Example:
$350,000
Step 2: Enter Down Payment (%)
Example:
- 0% (common for VA loans)
- 5%
- 10%+
The calculator automatically converts this into a dollar amount.
Step 3: Enter Interest Rate
Example:
6.25%
Even small changes in rate significantly affect total interest.
Step 4: Choose Loan Term
Options include:
- 30 years
- 25 years
- 20 years
- 15 years
- 10 years
Shorter terms:
- Higher monthly payment
- Lower total interest
Step 5: Select Veteran Type
Your funding fee depends on:
- First-time use
- Subsequent use
- Down payment amount
- Exemption status (disability/Purple Heart)
Funding fee examples:
- First-time use, 0% down → 2.15%
- Subsequent use, 0% down → 3.30%
- 10%+ down → Reduced fee
- Exempt → 0%
Step 6: Enter Annual Property Tax
Example:
$4,800 per year
Step 7: Enter Annual Insurance
Example:
$1,200 per year
Step 8: Enter Monthly HOA (If Any)
Example:
$150 per month
Step 9: Click “Calculate”
You’ll instantly see:
- Down payment amount
- Base loan amount
- VA funding fee
- Total loan
- Monthly principal & interest
- Total monthly payment
- Total interest paid
- Total cost of the loan
Example VA Loan Calculation
Assume:
- Purchase price: $400,000
- Down payment: 0%
- Interest rate: 6%
- Term: 30 years
- First-time use
- Property tax: $5,000/year
- Insurance: $1,200/year
- HOA: $100/month
Down Payment:
$0
Base Loan:
$400,000
Funding Fee (2.15%):
$8,600
Total Loan:
$408,600
Monthly Principal & Interest:
≈ $2,451
Monthly Taxes & Insurance:
- Property tax: $417
- Insurance: $100
- HOA: $100
Total Monthly Payment:
≈ $3,068
Total Interest (30 years):
Over $470,000 (approx.)
This shows how interest and funding fees impact total cost.
Understanding the VA Funding Fee
The funding fee is:
- A one-time charge
- Based on loan usage and down payment
- Often financed into the loan
You may be exempt if:
- You receive VA disability compensation
- You are an eligible surviving spouse
Always verify eligibility with your lender.
Why Total Interest Matters
Many borrowers focus only on monthly payment.
However:
- A 30-year loan costs significantly more in total interest
- A 15-year loan may save hundreds of thousands
- A larger down payment reduces funding fees and interest
This calculator helps you compare scenarios instantly.
Who Should Use This Calculator?
This tool is ideal for:
- Veterans
- Active-duty service members
- National Guard & Reserve members
- Eligible surviving spouses
- First-time VA home buyers
- Homeowners considering refinancing
Important Notes
- This calculator provides estimates only.
- Actual VA funding fees may change based on current regulations.
- Taxes vary by state and county.
- Closing costs are not included.
- Always consult a VA-approved lender for official figures.
Frequently Asked Questions (FAQs)
1. What is a VA mortgage?
A home loan guaranteed by the U.S. Department of Veterans Affairs.
2. Do VA loans require PMI?
No, VA loans do not require private mortgage insurance.
3. What is the VA funding fee?
A one-time fee supporting the VA loan program.
4. Can I finance the funding fee?
Yes, it is commonly added to the loan.
5. Are disabled veterans exempt?
Yes, many are exempt from the funding fee.
6. Is 0% down required?
No, but it is allowed for eligible borrowers.
7. Does the calculator include taxes?
Yes, annual property tax is converted to monthly.
8. Does it include homeowners insurance?
Yes.
9. Are HOA fees included?
Yes, if entered.
10. How accurate is this calculator?
It uses standard mortgage formulas but lender terms may vary.
11. Can I choose a 15-year VA loan?
Yes, shorter terms are available.
12. Does interest rate impact funding fee?
No, funding fee depends on veteran type and down payment.
13. Is the funding fee refundable?
Typically no, unless the loan is canceled early.
14. Does this include closing costs?
No.
15. Is this calculator official?
No, it provides independent estimates for planning purposes.
Final Thoughts
A VA loan can be one of the most affordable paths to homeownership — but understanding the full cost is essential.
Our VA Loan Mortgage Calculator gives you a clear breakdown of funding fees, monthly payments, and total lifetime cost so you can make informed, confident decisions.
Use the calculator above to explore different scenarios and find the loan structure that fits your budget best.