VA Mortgage Calculator
Adjust the inputs below. Results update as you type.
How it works
VA loans require no down payment and no PMI for eligible veterans, active duty, and surviving spouses. VA funding fee: 2.15% for first use with 0% down; reduced for 5%+ down or disabled veterans (fee waived). VA loan limits were eliminated in 2020 for eligible borrowers with full entitlement. VA loans have consistently lower default rates, leading to favorable market rates.
Input guidance
- Use realistic rates from lender or provider quotes instead of headline averages.
- Model conservative, baseline, and optimistic scenarios before deciding.
- Include recurring real-world costs (fees, taxes, insurance, maintenance) where relevant.
The formula
VA loans amortize like conventional mortgages but charge no monthly mortgage insurance. A one-time VA funding fee (a percentage of the loan) is usually financed into the balance.
Worked example
A $300,000 VA loan with a 2.15% funding fee adds about $6,450, financed to roughly $306,450, with no monthly mortgage insurance — lowering the payment versus FHA or low-down conventional loans.
More examples to test
- Conservative case: use a higher interest rate and lower growth assumptions to stress-test affordability.
- Optimistic case: use a lower rate with stable income assumptions to compare upside potential.
How to interpret results
Treat this as a planning model, not a final approval tool. Compare at least two scenarios and focus on total-cost and cash-flow trade-offs.
When this can be inaccurate
Results can diverge due to fees, changing rates, tax rules, lender policies, and behavior changes that simplified models cannot fully capture.
Change history
- July 2026: Quality-reviewed for publication with formula checks and explanatory copy updates.
Site-wide corrections also appear on the corrections log.
Frequently asked questions
Who qualifies for a VA loan?+
Eligible veterans, active-duty service members, and certain surviving spouses. It is a benefit earned through military service.
Why no down payment?+
The VA guarantees part of the loan, so lenders can offer 0% down without mortgage insurance — a major cost advantage.
What is the funding fee?+
A one-time fee that supports the program. It varies by down payment and prior use, and some disabled veterans are exempt.
How should I use this result?+
Treat it as a planning estimate. Compare at least two realistic scenarios, then confirm with statements, quotes, or a qualified professional before acting.
How often should I refresh assumptions?+
Refresh whenever rates, income, costs, or policy limits change materially, and before making irreversible commitments.