VA Loan Calculator
Calculate your VA home loan payment including the VA funding fee. Estimate monthly payments for eligible veterans and service members.
One-time fee paid at closing. It varies by service category, down payment and whether it is your first use.
Monthly payment
$2,204.58
Funding fee
$8,050
Financed into the loan
Total payment
$793,647
Total interest
$435,597
VA loans are guaranteed by the US Department of Veterans Affairs and typically require no private mortgage insurance.
How it works
Payment = amortising formula on (price − down payment + funding fee). Funding fee = loan × fee% by service type.
Example: $350,000 at 5.5%, 0% down, 2.15% fee → ~$2,028/month.
Last updated: July 2026
How this calculator is verified
Checked by True Calculator automated test suite on
- Formula verified against a published worked example in the automated test suite
- Edge cases (zero, negative, boundary and unit-mismatch inputs) covered by unit tests
The full verification method is on our how we verify page. Found an error? Tell us and we will re-check it.
When to Use This Calculator
Use this calculator if you are a veteran, serving service member, or surviving spouse using the VA home-loan benefit — a program available to US-eligible military families, including those of Indian origin. The VA loan's signature advantage is the option of a zero down payment, and this tool models that, along with the VA funding fee that the borrower pays based on first or subsequent use and the down payment chosen. It shows the financed amount including the fee and the resulting monthly payment, so you can compare a zero-down purchase against putting 5% or 10% down, which lowers both the fee and the payment. Veterans receiving disability compensation pay no funding fee at all — a detail worth checking before you plan the closing budget.
How to Use This Calculator
- Step 1: Enter the home price, and set the down payment, which can be zero for eligible veterans.
- Step 2: Enter the annual interest rate and the term in years.
- Step 3: Select the funding fee category, such as first-time use with zero down at 2.15%.
- Step 4: Read the financed amount, which includes the funding fee, and the monthly payment based on it.
Worked Example
A first-time VA loan user buys a $300,000 home with no down payment. The VA funding fee for first use with zero down is 2.15%, which is $6,450, and the calculator adds it to the loan, so the financed amount is about $306,450. At 6% for 30 years the monthly payment is about $1,837. Veterans who can put some money down pay a lower funding fee percentage, so the calculator shows how the down payment reduces both the fee and the financed amount together.
Tips and Common Mistakes
- •Tip 1: The funding fee is waived for veterans receiving VA disability compensation, so check your eligibility before paying it.
- •Tip 2: The fee rises with each use of the entitlement and drops as the down payment grows, so model both factors before closing.
- •Tip 3: VA loans carry no monthly mortgage insurance, which is a lasting monthly saving versus FHA or conventional low-down-payment loans.
- ✗Mistake 1: Selecting the funding fee category that does not match your down payment, since the percentage changes with it.
- ✗Mistake 2: Ignoring the funding fee when budgeting the closing costs, because it is a significant upfront cost that can be financed.
Frequently Asked Questions
What is a VA loan?
It is a mortgage backed by the Department of Veterans Affairs for eligible service members, veterans and surviving spouses — typically offering zero down payment and no private mortgage insurance.
Do VA loans require mortgage insurance?
No monthly PMI. Instead there is a one-time VA funding fee (0.5%–3.3% depending on service and down payment), which can be paid upfront or rolled into the loan.
Can I finance the VA funding fee into my loan?
Yes, the funding fee may be included in the financed amount. This calculator lets you fold it in so your monthly payment reflects the true cost.
Is this VA mortgage calculator free to use?
Yes, True Calculator's VA mortgage calculator is completely free with no sign-up, no app install and no usage limits.
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