VA Mortgage Calculator

What this VA mortgage calculator does

A VA-backed mortgage is guaranteed by the U.S. Department of Veterans Affairs. Eligible borrowers can often buy with no down payment, but most loans carry a one-time VA funding fee that pays for the guarantee.

This calculator estimates the funding fee, the resulting loan amount, the principal-and-interest payment, and the full monthly housing cost including property tax, homeowners insurance, HOA dues, and other recurring expenses. It also shows the annual amortization schedule.

How to use this calculator

1. Enter the home price and down payment percentage. Zero down is allowed.
2. Enter the loan term and interest rate.
3. Select your eligibility category, whether you have used a VA loan before, and whether you qualify for a funding-fee exemption.
4. Choose whether the funding fee is financed or paid at closing.
5. Add property tax, insurance, HOA, and other annual costs, then click Calculate.

The default example is a $500,000 home with no down payment, a 30-year loan at 7.108%, first-time use, and the funding fee financed into the loan.

VA funding fee rates

The fee is charged on the base loan amount. A service-connected disability rating of 10% or more generally waives the fee, and certain surviving spouses are also exempt. The exemption selector applies a zero rate; use it only when you have confirmed that your circumstances qualify.

VA mortgage formulas

Down payment = Home price × Down payment %
Base loan amount = Home price − Down payment
Funding fee = Base loan amount × Funding fee rate
Total loan amount = Base loan amount + Funding fee (when financed)
Principal & interest = amortized payment on the total loan amount
Monthly property tax = Home price × Property tax % ÷ 12
Monthly insurance = Annual insurance ÷ 12
Monthly other costs = Annual other costs ÷ 12
Total monthly payment = P&I + Property tax + Insurance + HOA + Other
Cash at closing = Down payment + Funding fee (when paid upfront)

The funding fee can be financed into the loan or paid in cash at closing. Financing raises the loan balance and the monthly payment; paying upfront keeps the loan smaller but increases the cash needed at closing. The calculator shows both sides of that trade-off.

What the results mean

• VA funding fee: the one-time guarantee fee at the applicable rate.
• Base loan amount: the price minus the down payment, before the fee.
• Total loan amount: the balance that is amortized.
• Principal & interest: the monthly payment that repays the loan.
• Total monthly payment: principal and interest plus taxes, insurance, HOA, and other costs.
• Cash needed at closing: down payment plus any funding fee not financed.
• Loan-to-value: the base loan divided by the home price.

Assumptions and limitations

The calculator assumes a fixed-rate, fully amortizing loan with equal monthly payments. It uses the first-use and subsequent-use rate table shown above. Reserve and National Guard borrowers currently follow the same schedule as active-duty and veteran borrowers. The eligibility selector records your category but does not change the rate; exemptions are applied only through the explicit exemption selector.

The calculator does not check VA loan limits by county, residual income, credit standards, or the full list of exemption categories. Property tax and insurance are your own estimates. It is not a Certificate of Eligibility, a loan estimate, or an approval.

Frequently asked questions

Who pays the VA funding fee?

Most borrowers who use a VA-backed loan pay the fee unless they qualify for an exemption. The fee is higher for a subsequent use when the down payment is below 5%.

Can the funding fee be financed?

Yes. Many borrowers add it to the loan balance. That avoids a large cash payment at closing but increases the amount of interest paid over the term.

Does a disability waive the fee?

A service-connected disability rating of 10% or more generally waives the funding fee. Some surviving spouses are also exempt. Select the exemption only after confirming eligibility with the VA or your lender.

Do Reservists and National Guard members pay a different rate?

Under the current schedule, they use the same first-use and subsequent-use rates as other eligible borrowers. The calculator applies that table to every eligibility category.

Source

References:

• U.S. Department of Veterans Affairs — VA home loans
• VA News — VA funding fee: Who pays and who is exempt?

Disclaimer

This calculator is for informational and educational purposes only. It is not a loan estimate, an offer of credit, or financial advice. VA funding fee rates, loan limits, and exemption rules can change. Confirm your eligibility and all figures with the U.S. Department of Veterans Affairs and a qualified lender.