VA Mortgage Calculator with Funding Fee, Taxes & Insurance
As a service member, veteran, or eligible spouse, the VA home loan is one of the most valuable benefits you’ve earned. Understanding your potential monthly payment is the first step toward using this powerful benefit to buy a home with no down payment and no monthly mortgage insurance. VA Mortgage Calculator provides a complete estimate, including principal, interest, taxes, insurance, and the VA Funding Fee, to give you a clear picture of your housing costs.
Total Monthly Payment
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Total Loan Amount
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VA Funding Fee
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Payoff Date
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Monthly Payment Breakdown
Loan Amortization
How to Use Our VA Mortgage Calculator
To get an accurate estimate, you’ll need a few pieces of information about the home you’re considering and your veteran status.
Home Price: The full purchase price of the property.
Down Payment: For most VA loan borrowers, this will be $0. However, making a down payment of 5% or more can reduce your VA Funding Fee, so you can enter a dollar amount or percentage to see the impact.
Loan Term (Years): The length of the mortgage, typically 30 or 15 years.
Interest Rate (%): Enter the interest rate you expect to get from a VA-approved lender.
Annual Property Tax: An estimate of the yearly property taxes. You can often find this on the real estate listing or by checking the local county assessor’s website.
Annual Homeowners Insurance: The yearly cost to insure your home. You can get quotes from insurance providers for an accurate number.
Veteran Status / Funding Fee: This is key for an accurate VA calculation. Select your status to determine the correct VA Funding Fee. Choose from options like “First-Time Use,” “Subsequent Use,” or “Exempt” if you receive VA disability compensation or meet other specific criteria.
Breaking Down Your VA Mortgage Payment
Your result is the Total Estimated Monthly Payment. The single biggest financial advantage of a VA loan is that it does not require monthly Private Mortgage Insurance (PMI), which can save you hundreds of dollars every month compared to other loan types.
Your VA loan payment is made up of PITI:
Principal: The portion of your payment that reduces your loan balance.
Interest: The cost you pay the lender to borrow the money.
Taxes: One-twelfth of your annual property tax bill, held in escrow by your lender.
Insurance: One-twelfth of your annual homeowners insurance premium, also held in escrow.
Here’s a sample breakdown of a monthly payment, highlighting the VA loan advantage:
What About the VA Funding Fee?
While there is no monthly mortgage insurance, most VA borrowers will pay a one-time VA Funding Fee.
Purpose: This fee helps to fund the VA home loan program for future generations of service members, reducing the cost to U.S. taxpayers.
How It’s Paid: The fee is a percentage of the loan amount and is typically rolled into your total mortgage balance, so you don’t need to pay it in cash at closing. The percentage varies based on your service, down payment amount, and whether it’s your first time using the benefit. Our calculator handles this calculation for you.
Frequently Asked Questions About VA Mortgage Loans
Who is eligible for a VA loan?
You may be eligible for a VA home loan if you meet certain service requirements. This includes:
Veterans who meet length-of-service requirements.
Active-duty service members who have served for at least 90 continuous days.
Members of the National Guard or Reserves with six years of creditable service.
Surviving spouses of service members who died in the line of duty or as a result of a service-related disability.
You will need a Certificate of Eligibility (COE) to prove to the lender that you qualify for the benefit.
What is the VA Funding Fee, and who has to pay it?
The VA Funding Fee is a one-time fee paid to the Department of Veterans Affairs. As of July 2025, the fee for a no-down-payment loan is typically 2.15% of the loan amount for first-time users and 3.3% for subsequent users.
Example: For a first-time homebuyer purchasing a $350,000 home with $0 down, the funding fee would be $7,525 ($350,000 x 2.15%). This amount would be added to the loan balance, making the total loan $357,525.
Crucially, many veterans are exempt from paying the funding fee. You are exempt if you are:
Receiving VA compensation for a service-connected disability.
A veteran who would be entitled to receive disability compensation but are receiving retirement or active-duty pay instead.
A surviving spouse of a veteran who died in service or from a service-connected disability.
What is a Certificate of Eligibility (COE) and how do I get one?
A Certificate of Eligibility (COE) is the official document from the VA that proves you are eligible for a VA home loan. It’s a required part of the loan application. There are three primary ways to get your COE:
Through a VA-approved lender: This is the easiest and fastest way. Most lenders can get it for you online in minutes.
Online: You can apply through the VA’s eBenefits online portal.
By mail: You can apply by filling out VA Form 26-1880 and mailing it to the appropriate regional loan center.
Are there loan limits for VA loans?
As of 2020, the VA no longer sets loan limits for borrowers with their full VA loan entitlement. This means you can borrow as much as a lender is willing to give you without a down payment. However, lenders can still set their own internal limits.
If you have a partial entitlement (for example, you already have one active VA loan), you will be subject to the conforming loan limits for the county where you are buying.
Can I use my VA loan benefit more than once?
Yes. Your VA loan benefit is a lifetime benefit that can be used multiple times. You can have your full entitlement restored and use it again after you sell the home and pay off the loan. It’s also possible to have more than one VA loan at a time using your remaining or “bonus” entitlement, though specific rules apply.
Is a VA loan always the best option for veterans?
For most eligible borrowers, the VA loan is the best mortgage product available due to the $0 down payment and no-PMI features. However, if a veteran has excellent credit and can make a down payment of 20% or more, a conventional loan might be a better choice. With a 20% down payment, a conventional loan has no PMI, and you would also avoid paying the VA Funding Fee, potentially making the conventional loan cheaper overall.
Take the Next Step on Your Path to Homeownership
Your VA loan payment is just one part of the affordability equation. See how it fits into your budget with our [Debt-to-Income (DTI) Ratio Calculator].
To see how this powerful benefit stacks up against other options, compare your results with our FHA Loan Calculator or Conventional Mortgage Calculator.
Ready to move forward? Learn about the first official step in our guide: How to Get Your Certificate of Eligibility (COE).
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