A VA mortgage calculator estimates the monthly payment on a VA-backed home loan, including the VA funding fee added to the loan. A $350,000 home with no down payment at 6% for 30 years costs about $2,143.54 a month.
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How to use the va mortgage calculator
- Enter the home price.
- Enter your down payment percentage, or 0.
- Enter the interest rate and term in years.
- Enter the funding fee percentage (2.15% for first use with less than 5% down).
- Read the loan amount and monthly payment.
How the VA mortgage calculator works
The VA mortgage calculator starts from the home price and your down payment percentage. It works out the base loan (price minus down payment), adds the VA funding fee as a percentage of that base loan, and treats the total as the amount financed. It then applies the standard fixed-rate payment formula over the term you choose. The result is monthly principal and interest; property tax, homeowners insurance and any HOA dues are extra.
2026 VA funding fee rates
The funding fee is a one-time charge that helps keep the VA home loan program running for future borrowers. For a purchase loan, the Department of Veterans Affairs sets it by down payment and by whether you have used the benefit before. For first use: 2.15% with less than 5% down, 1.5% with 5% to under 10% down, and 1.25% with 10% or more down. For later uses with less than 5% down it is 3.3%; with 5% or more down the later-use rates match the first-use rates. The default in the VA mortgage calculator is 2.15%.
Some borrowers do not pay the fee at all. Exemptions include veterans who receive VA compensation for a service-connected disability and certain surviving spouses, among others listed by the VA. Enter 0 in the fee box if you are exempt. You can pay the fee in cash at closing instead of financing it, which lowers the loan; in that case also enter 0 and budget the cash separately.
VA mortgage calculator worked example
A first-time VA buyer purchases a $350,000 home with no down payment at 6% for 30 years. The funding fee is 2.15% of $350,000, or $7,525, so the loan becomes $357,525. The VA mortgage calculator shows a monthly payment of $2,143.54. Putting 10% down cuts the fee to 1.25% and the payment to $1,912.19, while an exempt veteran with no down payment pays $2,098.43.
| Price | Down | Fee | Loan | Payment |
|---|---|---|---|---|
| $350,000 | 0% | 2.15% | $357,525 | $2,143.54 |
| $350,000 | 5% | 1.5% | $337,488 | $2,023.41 |
| $350,000 | 10% | 1.25% | $318,938 | $1,912.19 |
| $350,000 | 0% (later use) | 3.3% | $361,550 | $2,167.67 |
| $350,000 | 0% (exempt) | 0% | $350,000 | $2,098.43 |
Why VA loans are popular
VA-backed loans do not require a down payment for eligible borrowers with full entitlement, although the lender and appraisal still matter, and they do not charge monthly mortgage insurance. That can make the monthly cost lower than a conventional loan with a small down payment, even after the funding fee. Eligibility depends on service history, and you need a Certificate of Eligibility from the VA. Lenders still check credit, income and debts.
Estimating the full monthly cost
Add property tax and homeowners insurance to the principal and interest from the VA mortgage calculator. For example, $4,200 a year of tax and $1,800 of insurance add $500 a month. Closing costs are separate from the funding fee; the VA limits some fees a lender may charge, and sellers may pay some costs. Compare Loan Estimates from at least three lenders, because rates and lender fees vary.
Choosing a rate and term
Enter the note rate from your Loan Estimate, not the APR. A 15-year term raises the payment but saves a large amount of interest. Run both terms to see the trade-off. A quarter-point change in rate on a $357,525 loan moves the 30-year payment by roughly $55 to $60 a month.
Tips
- Confirm your funding fee and any exemption with your lender.
- Check whether paying the fee in cash makes sense for you.
- Keep reserves after closing for repairs.
- Ask about VA limits on closing costs.
Estimates for education only, not financial advice. Your lender’s figures are final.
Related converters and calculators
Related calculators:
- Mortgage calculator: conventional
- FHA loan calculator: FHA
- Closing costs calculator: closing
- House affordability calculator: budget
Taking over a seller’s loan? The assumable mortgage calculator shows the cash needed to cover their equity.
Sources
U.S. Department of Veterans Affairs: VA funding fee and loan closing costs; CFPB: How do mortgage lenders calculate monthly payments?.
Formula and method
Down = price*down_pct/100. Funding fee = (price - down)*funding_fee%/100. Loan = price - down + fee. Payment = amortizing PMT(loan, rate, years*12).
Educational VA payment sketch with financed funding fee. Not an official VA calculator; exemption cases are user-driven (set fee to 0).
Questions about this calculator
What is the VA funding fee in 2026?
For first-use purchases: 2.15% under 5% down, 1.5% at 5% to under 10%, 1.25% at 10% or more.
Is the funding fee added to the loan?
It can be financed, as this tool assumes, or paid at closing.
Who is exempt?
Including veterans receiving VA compensation for a service-connected disability; see the VA list.
Do VA loans have PMI?
No monthly mortgage insurance.
Does the payment include taxes?
No, only principal and interest.
Check the assumptions and units before relying on a result. Financial, tax and health estimates do not replace advice for your individual circumstances.
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