VA Loan Calculator
Calculate VA loan payments with funding fee, compare to conventional loans, and see your veteran benefits.
$0.00
VA allows 0% down payment
Most borrowers roll the funding fee into their loan amount
United States Only
VA loans are a U.S. Department of Veterans Affairs program available only in the United States to eligible veterans and service members.
Veteran Eligibility Required
You must have a Certificate of Eligibility (COE) from the VA. Eligible: Veterans, active duty, National Guard, Reserves, and certain surviving spouses.
No PMI Required
Estimated savings: $66,000.00 over the loan
Total Monthly Payment
$3,082.49
Including P&I, Taxes & Insurance (No PMI!)
$8,600.00
$2,515.82
$408,600.00
$66,000.00
Comparison with conventional loan at same down payment (0.0%)
VA Loan
$3,082.49/mo
No PMI
10-year cost: $369,898.46
Conventional
$3,529.54/mo
PMI: $500.00/mo
10-year cost: $423,544.26
VA saves $53,645.80 over 10 years
Understanding VA Loans
VA Loan Benefits
- No down payment required
- No PMI ever
- Competitive interest rates
- Limited closing costs
- No prepayment penalty
Funding Fee Rates (2024)
First Use, 0% Down: 2.15% (Regular), 2.40% (Reserves/Guard)
First Use, 5%+ Down: 1.50% (Regular), 1.75% (Reserves/Guard)
First Use, 10%+ Down: 1.25% (Regular), 1.50% (Reserves/Guard)
Subsequent Use, 0% Down: 3.30% (All)
Funding Fee Exemptions
- - 10%+ VA disability compensation
- - Purple Heart recipients on active duty
- - Surviving spouses receiving DIC
- - Certain IDES veterans
Eligibility Requirements
Generally requires 90 days active service during wartime, 181 days during peacetime, or 6 years in National Guard/Reserves. Apply for Certificate of Eligibility (COE) through VA.gov or your lender.