🏡 VA Loan Calculator

Calculate your VA loan monthly payment — no PMI, no down payment required. Estimates P&I, VA funding fee, taxes, and insurance.

📋 Enter Your Details

Home Price ($50,000 – $2,000,000)

Down Payment (0%–50%)

Interest Rate (1%–12%)

Loan Term

Property Taxes (monthly)

Insurance (monthly)

Disability Status

No Disabled Veteran

First-Time VA Loan Use

Yes (First use) No (Subsequent use)

📊 Your VA Loan Payment

Monthly Principal & Interest $0.00

VA Funding Fee (one-time) $0.00

Monthly Taxes & Insurance $0.00

Total Monthly Payment $0.00

Loan Amount (after down payment) $0.00

VA Funding Fee Rate 0.00%

Total Interest Paid (over term) $0.00

Total Cost of Loan $0.00

* The VA funding fee is typically financed into the loan, not paid upfront.

⚠️ Estimate Only: This calculator provides a rough estimate of your VA loan payment. Actual rates, funding fee eligibility, property taxes, and insurance costs vary. Consult with a VA-approved lender and your local tax assessor for precise figures. The VA funding fee may be waived for veterans receiving VA disability compensation.

VA Loan Scenarios

📐 Formula & Guide

Monthly Payment Formula (P&I)

The standard amortization formula for principal and interest:

M = P × [ r(1+r)ⁿ ] / [ (1+r)ⁿ − 1 ]

Where:

M = Monthly principal & interest payment
P = Loan principal (home price − down payment)
r = Monthly interest rate (annual rate ÷ 12)
n = Total number of payments (loan term in years × 12)

Total Monthly Payment

Total Monthly = P&I + (Property Taxes ÷ 12) + (Insurance ÷ 12)

Note: VA loans have no PMI (Private Mortgage Insurance), which is a major advantage over conventional loans.

VA Funding Fee Rates (2025)

The VA funding fee is a one-time charge paid to the Department of Veterans Affairs. It helps offset the cost of the VA loan program to taxpayers. Disabled veterans are exempt.

Down Payment	First-Time Use	Subsequent Use
0%	2.15%	3.30%
5% – 9.99%	1.50%	1.50%
10% or more	1.25%	1.25%
Disabled Veteran	0% (waived)	0% (waived)

VA Loan Benefits

No down payment required — 100% financing available
No PMI — saves hundreds per month vs. conventional loans
Competitive interest rates — government-backed, typically lower than conventional
Funding fee exemption for disabled veterans
No prepayment penalty — pay off your loan early free of charge
Assumable — your loan can be transferred to another buyer

VA Entitlement Explained

VA entitlement is the amount the VA guarantees on your loan. There are two tiers:

Basic Entitlement: $36,000 (covers loans up to $144,000)
Bonus Entitlement (Tier 2): Up to an additional $68,250, depending on county loan limits

Most lenders will lend up to the conforming loan limit ($766,550 in 2025 for most counties, higher in high-cost areas) with full entitlement. If you've had a previous VA loan, your entitlement may be partially used — but it can be restored after the loan is paid off or through a one-time restoration request.

Funding Fee Exemption

The VA funding fee is waived entirely for veterans who:

Receive VA disability compensation
Are rated as eligible to receive compensation due to a pre-discharge disability exam
Are rated as eligible for compensation due to a disability that was incurred or aggravated in the line of duty
Are surviving spouses of veterans who died in service or from a service-connected disability

You must have a disability rating from the VA to qualify for the exemption. The funding fee can also be refunded if you're later awarded a retroactive disability rating that covers your loan closing date.

❓ Frequently Asked Questions

What is a VA loan, and who qualifies? ▼

A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs, offering favorable terms to eligible borrowers. You qualify if you are an active-duty service member, veteran, reservist, National Guard member, or surviving spouse. There is no minimum credit score requirement set by the VA (though lenders may have their own), and no down payment is required.

Do I have to pay the VA funding fee? ▼

Not always. The VA funding fee is waived for veterans receiving VA disability compensation. For all other borrowers, the fee applies and ranges from 1.25% to 3.30% of the loan amount depending on down payment and whether it's your first or subsequent use of VA loan benefits. The fee is typically financed into the loan so you don't pay it out of pocket.

Can I get a VA loan with no down payment? ▼

Yes! Zero down payment is one of the biggest advantages of VA loans. Unlike conventional loans that typically require 3%–20% down, VA loans offer 100% financing with no down payment required — and no PMI. However, the VA funding fee is higher (2.15% for first-time use) when you put 0% down.

What's the difference between VA entitlement and loan limit? ▼

VA entitlement is the amount the VA guarantees to the lender, which encourages lenders to offer favorable terms. The basic entitlement is $36,000 (covering up to $144,000), and bonus entitlement can cover additional amounts up to county loan limits. In 2025, most counties have a conforming loan limit of $766,550, but high-cost areas can go higher. With full entitlement, there's no hard cap — many lenders will lend above the limit as long as you make a down payment on the portion above it.

Is PMI required on VA loans? ▼

No! VA loans do not require Private Mortgage Insurance (PMI), even with a 0% down payment. This is a significant cost savings compared to conventional loans, which can add hundreds of dollars per month in PMI. Instead, the VA funding fee serves a similar purpose but is typically much lower, one-time, and often financeable.

Can I use a VA loan more than once? ▼

Yes, VA loan benefits don't expire and can be used multiple times. However, subsequent use has a higher funding fee (3.30% at 0% down vs. 2.15% for first use). You may also have partial entitlement tied up in a previous VA loan. You can restore your full entitlement by paying off the previous VA loan, or you may qualify for a one-time restoration of entitlement even if you still own the home.