Does this calculator determine my eligibility for a VA loan?

No. It only estimates payments. Eligibility depends on your service history, certificate of eligibility, credit profile, and lender underwriting.

Does this include monthly mortgage insurance?

VA loans do not have monthly PMI like many conventional or FHA loans. Instead, they use a one-time funding fee, which this calculator includes.

What if I’m exempt from the funding fee?

If you have a funding-fee exemption, ask your lender to confirm your status. You can approximate the impact by setting the calculator’s down payment and service fields as usual and mentally setting the funding fee to $0 when interpreting the results.

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VA Mortgage Calculator

Estimate your VA loan payment including principal, interest, property taxes, homeowners insurance, and the financed VA funding fee.

Results

Base VA loan amount: $400,000 USD
VA funding fee rate: 215.00%
VA funding fee amount: $8,600 USD
Total loan amount (with funding fee): $408,600 USD
Principal & interest (P&I): $2,516 USD
Monthly property taxes: $375 USD
Monthly homeowners insurance: $125 USD
Total monthly payment (PITI): $3,016 USD
Total interest over term: $497,095 USD

Overview

VA loans can offer 0% down and no monthly mortgage insurance, but they do include a one-time funding fee that is often financed into the mortgage. This VA mortgage calculator estimates your full monthly payment—principal, interest, property taxes, homeowners insurance—and shows how the funding fee affects your loan amount.

How to use this calculator

Enter home price and your down payment percentage (often 0% for VA).
Enter the VA interest rate (APR) and the loan term in years.
Select your service type and whether this is a first or subsequent use of VA loan benefits.
Choose whether to finance the funding fee into the loan or assume it is paid in cash at closing.
Enter estimates for annual property taxes and homeowners insurance.
Review the base loan amount, estimated funding fee, financed loan amount, P&I payment, escrow amounts, and total monthly payment.

Inputs explained

Home price: Purchase price or appraised value used to determine your loan size and down payment.
Down payment %: Percent of the home price you plan to pay in cash at closing. VA loans allow 0% down in many cases.
Interest rate (APR %): The annual percentage rate on your VA mortgage. The calculator converts this to a monthly rate for amortization.
Term (years): Length of the VA loan in years, typically 15 or 30. Longer terms lower monthly payments but increase total interest.
Service type: Whether you serve in the regular military or the Reserves/National Guard. Funding-fee percentages differ slightly by category.
First use of VA benefits: Indicates whether this is your first VA home loan or a subsequent use. Subsequent uses generally have higher funding fees at low down payments.
Finance funding fee into loan?: If set to Yes, we add the funding fee to the base loan and compute payments on that higher balance.
Annual property taxes: Estimated yearly property tax bill. Divided by 12 for an approximate monthly escrow portion.
Annual homeowners insurance: Estimated yearly homeowners insurance premium. Divided by 12 for the monthly escrow portion.

Outputs explained

Base VA loan amount: The loan amount before adding any funding fee, calculated as home price minus down payment.
VA funding fee rate: The estimated funding-fee percentage based on down payment, service type, and first vs subsequent use.
VA funding fee amount: The one-time funding fee in dollars, computed as base loan amount × funding-fee rate.
Total loan amount (with funding fee): The financed loan amount if you roll the funding fee into the mortgage. This is the principal used for the payment calculation.
Principal & interest (P&I): The monthly payment for principal and interest on the financed VA loan, excluding taxes and insurance.
Monthly property taxes: Annual property taxes divided by 12, representing the escrow amount collected each month.
Monthly homeowners insurance: Annual homeowners insurance divided by 12, representing the escrow amount collected each month.
Total monthly payment (PITI): Your combined monthly mortgage obligation including principal, interest, property taxes, and homeowners insurance.
Total interest over term: The total amount of interest you would pay over the full term of the loan, assuming scheduled payments and no prepayments.

How it works

You enter home price and down payment percentage. The calculator computes a base VA loan amount as price minus down payment.

Using the same logic as the VA funding fee calculator, it estimates a funding-fee percentage based on down payment, service type, and whether this is your first or subsequent use of VA benefits.

It multiplies the base loan amount by that rate to estimate the funding fee. If you choose to finance the fee, that amount is added to the base loan to create a total loan with funding fee.

Using the total loan with fee, interest rate, and term, the calculator computes your principal-and-interest payment via the standard mortgage formula.

It converts your annual property tax and homeowners insurance estimates into monthly amounts and adds them to P&I to show a total monthly payment.

Finally, it multiplies the P&I payment by the number of months in the term to estimate total interest paid over the life of the loan.

Formula

BaseLoan = HomePrice × (1 − DownPayment%)
FundingFee = BaseLoan × VA fee rate (based on down payment, service type, first vs subsequent use)
FinancedLoan = BaseLoan + FundingFee (if financed)
MonthlyRate = APR ÷ 100 ÷ 12
n = TermYears × 12
P&I = FinancedLoan × [MonthlyRate(1 + MonthlyRate)^n] ÷ [(1 + MonthlyRate)^n − 1] (or FinancedLoan ÷ n if rate = 0)
TaxMonthly = PropertyTaxAnnual ÷ 12
InsuranceMonthly = InsuranceAnnual ÷ 12
TotalMonthly = P&I + TaxMonthly + InsuranceMonthly

When to use it

Estimating a VA home loan payment before you start touring homes or making offers.
Comparing VA loan payments to conventional loans or FHA loans for the same home price.
Understanding how the funding fee changes with different down payments or subsequent uses of VA benefits.
Helping veterans and service members budget for a new home by including taxes and insurance in the payment estimate.

Tips & cautions

If you qualify for a funding-fee exemption (for example, due to a service-connected disability), your actual fee may be reduced or eliminated—set funding-fee financing to No and consult your lender.
Use realistic tax and insurance estimates based on local data for a more accurate all-in payment.
Compare the VA payment to a conventional payment on the same home to see whether zero-down and no PMI offsets the funding fee in your case.
Uses the same approximate funding-fee logic as the standalone VA funding fee calculator; exact percentages may change over time.
Assumes the funding fee is either fully financed or fully paid in cash; partial financing scenarios are not modeled.
Does not handle IRRRL refinances, construction loans, or other specialized VA loan structures.
Does not model extra principal payments, rate changes, or refinance decisions.

Worked examples

Example: $400,000 home, 0% down, regular military, first use

BaseLoan = $400,000 with 0% down.
Funding-fee rate ≈ 2.15%, so FundingFee ≈ $8,600; FinancedLoan ≈ $408,600.
At 6.25% APR over 30 years, P&I is computed on $408,600.
Add monthly property taxes and insurance to get the total monthly payment.

Deep dive

Use this VA mortgage calculator to estimate your monthly payment, including the financed VA funding fee, property taxes, and homeowners insurance.

Enter home price, down payment, rate, and service details to see how a VA loan fits your budget and how the funding fee affects your total payment.

Great for veterans, active-duty service members, and borrowers comparing VA financing versus conventional or FHA options.

FAQs

Does this calculator determine my eligibility for a VA loan?: No. It only estimates payments. Eligibility depends on your service history, certificate of eligibility, credit profile, and lender underwriting.
Does this include monthly mortgage insurance?: VA loans do not have monthly PMI like many conventional or FHA loans. Instead, they use a one-time funding fee, which this calculator includes.
What if I’m exempt from the funding fee?: If you have a funding-fee exemption, ask your lender to confirm your status. You can approximate the impact by setting the calculator’s down payment and service fields as usual and mentally setting the funding fee to $0 when interpreting the results.

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This VA mortgage calculator provides approximate payments based on simplified VA funding-fee logic and user-supplied tax and insurance estimates. It is not a loan offer or a substitute for official lender disclosures. Always confirm actual payments, funding fees, and eligibility with a VA-approved lender or housing professional.