VA Loan Calculator
Free VA loan calculator: the VA funding fee for first or later use, the loan amount with the fee financed, and the monthly payment with taxes and insurance.
What it does
VA loans are mortgages guaranteed by the US Department of Veterans Affairs for eligible veterans, service members and surviving spouses. They need no down payment and have no private mortgage insurance, but most borrowers pay a one-time VA funding fee, which can be added to the loan. This calculator finds the funding fee from your down payment and whether it is your first VA loan, then shows the loan amount and the monthly payment with property tax, insurance and HOA fees.
How to use it
- Type the home price, the down payment (it can be zero), the rate and the term.
- Choose first use or later use, and tick the box if you are exempt from the funding fee.
- Add property tax, insurance and HOA fees to see the full monthly payment.
The arithmetic runs in your browser. Nothing you type is sent anywhere and nothing is stored, so you can use these with real numbers.
Frequently asked questions
How much is the VA funding fee?
For a purchase loan, on first use: 2.15% with less than 5% down, 1.5% with 5% or more and 1.25% with 10% or more. After the first use: 3.3% with less than 5% down, then the same 1.5% and 1.25%. These are the rates in force since 7 April 2023.
Who does not pay the funding fee?
Veterans who receive VA compensation for a service-connected disability, surviving spouses who receive Dependency and Indemnity Compensation, and Purple Heart recipients on active duty, among others listed by the VA.
Is there a VA loan limit?
Since 2020 there is no VA loan limit for borrowers with full entitlement, so you can borrow more than the conforming limit with no down payment if the lender approves. With reduced entitlement, county limits still apply.
Can the seller pay my closing costs?
Yes. On a VA loan the seller can pay all of the normal closing costs, plus concessions of up to 4% of the price for things such as the funding fee or paying off your debts.
💵 Down Payment Calculator
🧾 Closing Cost Calculator
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