VA Loan Calculator United States
This VA loan calculator estimates a mortgage payment with zero down and no PMI: the VA funding fee by use and down payment, principal, interest and LTV.
What it does
The VA Loan Calculator estimates the monthly payment on a VA-guaranteed mortgage for eligible veterans and service members, with no down payment required and no PMI.
Data sources & parameters
The figures below drive this calculator. We keep them aligned with the latest official guidance, and each result recalculates automatically whenever a value changes.
| Parameter | Value | Source | Last updated |
|---|---|---|---|
| VA funding fee schedule [use_type, down_fraction_ceiling, rate] | Rate schedule | va.gov | Effective 2026-01-01Verified 2026-09-06 against VA.gov purchase-loan funding fees (rates effective 7 April 2023): first use 2.15 / 1.5 / 1.25 per cent, after first use 3.3 / 1.5 / 1.25 per cent. |
We always strive to use the latest data for every variable so our results and reports are as accurate as possible. Even so, errors are possible — you should not rely on this tool or its report alone, and we accept no liability for any decision made based on it.
The formula
Base loan = price minus down payment; total loan = base + (base x funding fee rate); payment = amortized P&I on total loan (no PMI)
How it works
It computes the base loan from any down payment, looks up the VA funding-fee rate by use type and down payment, finances that fee, and amortizes principal and interest.
Where it is used
- Estimating a VA monthly payment with zero down
- Seeing the VA funding fee for first or subsequent use
- Checking the effect of the funding-fee exemption
Worked example
On a $300,000.00 home with zero down and first use, the funding fee is … at …, and the monthly payment is ….
What the VA loan calculator does
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members and certain surviving spouses. It allows a purchase with no down payment and requires no private mortgage insurance. Enter the home price, any down payment, the interest rate, the loan term, and whether this is a first or later use of your VA benefit. The calculator builds the payment from the base loan, the financed funding fee and amortized principal and interest. With no PMI, the monthly payment is principal and interest only.
How the VA funding fee works
The funding fee is a one-time charge that keeps the program running at no cost to taxpayers. It is a percentage of the loan that depends on two things, both taken from a stored rate schedule. First use of the benefit carries a lower fee; later use with little or no down payment carries a higher one. A down payment of 5% or more reduces the fee, and 10% or more reduces it further.
Most borrowers finance the fee, so the calculator adds it to the base loan and amortizes principal and interest on the total. The schedule is updated when the VA changes its rates.
The funding-fee exemption
Veterans who receive VA compensation for a service-connected disability, some surviving spouses and certain other groups do not pay the fee, which often saves several thousand dollars. Tick the exemption box and the fee becomes zero, so the total loan equals the base loan. Your Certificate of Eligibility and the VA can confirm whether you qualify; running the calculation both ways shows what the exemption is worth on your loan.
No PMI
Most low-down-payment loans charge private mortgage insurance or a government insurance premium every month until you build enough equity. The VA's guarantee to the lender replaces that insurance, so there is no monthly PMI however little you put down. Over the life of a loan this can save tens of thousands of dollars compared with a conventional low-down-payment loan.
How the monthly payment is built
- It subtracts any down payment from the home price to find the base loan.
- It looks up the funding-fee rate from the schedule using your use type and down payment, or sets it to zero if you are exempt.
- It applies that rate to the base loan and adds the fee to reach the total loan.
- It amortizes the total loan over your chosen term at your interest rate to find monthly principal and interest.
- Because there is no PMI, that principal and interest figure is your monthly payment.
Early payments are mostly interest, and the balance falls faster in later years.
What the result shows
The output shows your monthly payment, then your down payment, base loan, funding-fee rate and amount, total loan, loan-to-value and total interest over the term. Loan-to-value is the base loan divided by the home price: 100% with zero down, lower with a down payment, which also cuts the funding fee.
VA versus FHA and conventional loans
For those who qualify, a VA loan is usually the strongest option. FHA loans allow small down payments but charge both upfront and ongoing mortgage insurance, and conventional loans with little down require PMI until you build equity. A VA loan has no ongoing insurance and allows zero down; its main extra cost is the funding fee, which exempt borrowers do not pay. Compare this tool's monthly payment with an FHA or conventional estimate, especially over the full term, and confirm details with a VA-approved lender before committing.
This is general information only and not financial advice.
About This VA Loan Calculator
Use this VA loan calculator to get an instant, accurate estimate. The figures follow official guidance and every rate and threshold is kept up to date for 2026. Adjust the inputs above to match your situation, or browse all our calculators to plan your next step.
Tax year 2026
Frequently asked questions
What does this VA loan calculator do?
Do VA loans require a down payment?
What is the VA funding fee?
Who is exempt from the VA funding fee?
Why do VA loans not have PMI?
Is my data private?
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