VA Loan Calculator
VA loans, available to eligible veterans, service members, and some surviving spouses, often allow financing with no down payment and no monthly PMI — but most borrowers pay a one-time VA funding fee, which can be financed into the loan. This calculator estimates your monthly payment and shows the impact of the funding fee on your loan amount.
Enter your numbers and select Calculate to see your estimated payment.
How this calculation works
The funding fee is calculated as a percentage of the base loan amount and added to principal if financed. Principal and interest then use standard amortization on the resulting loan amount; PMI does not apply to VA loans.
Example calculation
A $320,000 home with 0% down at 6.25% over 30 years, with a 2.15% funding fee financed in (about $6,880), results in a loan amount of roughly $326,880 and a monthly principal-and-interest payment of about $2,013.
Frequently asked questions
Do all VA loan borrowers pay the funding fee?
Most do, but veterans receiving VA disability compensation are typically exempt. The exact fee percentage also varies based on down payment amount and whether it's your first use of VA loan benefits.
Is PMI required on a VA loan?
No — VA loans don't require monthly private mortgage insurance, which is one of their key advantages over many conventional loans with less than 20% down.
Where can I confirm my VA loan eligibility?
This calculator estimates payments only. For eligibility and current funding fee rates, check with the U.S. Department of Veterans Affairs or a VA-approved lender.
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This calculator provides estimates for informational purposes only and is not a loan offer or financial advice. See our Disclaimer.