VA Loan Calculator

Calculate your VA loan payment with automatic funding fee calculation. No down payment required, no PMI. Compare VA vs conventional to see your true savings.

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VA Monthly Payment
$2,593
No PMI · $2,201 P&I · 2.15% funding fee
Principal & Interest: $2,201
Property Tax: $292
Insurance: $100
Base Loan
$350,000
VA Funding Fee (2.15%)
$7,525
Total Loan Amount
$357,525
Monthly PMI
$0 (none required)
Total Interest
$434,958
Total Cost
$792,483
VA Funding Fee: The 2.15% funding fee ($7,525) is typically rolled into your loan. You can also pay it upfront at closing. Increasing your down payment to 5% reduces the fee to 1.50%, and to 10%+ reduces it to 1.25%.

How to Use This VA Loan Calculator

This calculator is designed specifically for veterans, active duty service members, and eligible surviving spouses to estimate their VA loan costs accurately.

VA Payment Tab

Enter your Home Price and Down Payment (can be $0 for VA loans). Select your Service Type (active duty or reserves/National Guard) and whether this is your First Use of VA benefits or a subsequent use — this determines your funding fee rate. If you have a 10%+ disability rating or qualify for other exemptions, check the exemption box to waive the funding fee entirely.

VA vs Conventional Tab

Enter a conventional rate and down payment for comparison. The side-by-side view shows the monthly difference, total PMI savings, and how long it takes for the VA funding fee savings to offset its cost — typically 2-4 years.

VA Funding Fee Rates (2024)

Active Duty / Regular Military:
• First use, 0-5% down: 2.15%
• First use, 5-10% down: 1.50%
• First use, 10%+ down: 1.25%
• Subsequent use, 0-5% down: 3.30%
• Subsequent use, 5-10% down: 1.50%
• Subsequent use, 10%+ down: 1.25%

Reserves / National Guard:
• First use, 0-5% down: 2.40%
• First use, 5-10% down: 1.75%
• First use, 10%+ down: 1.50%
• Subsequent use, 0-5% down: 3.30%

Exempt (pay $0 funding fee):
• 10%+ service-connected disability rating
• Purple Heart recipients on active duty
• Surviving spouses receiving Dependency & Indemnity Compensation (DIC)

Example: Sergeant Williams Buys in San Antonio, TX

Active duty, first use, $0 down on a $350,000 home

Home Price$350,000
Down Payment$0 (0%)
Base Loan$350,000
VA Funding Fee (2.15%)$7,525 (financed)
VA Loan Amount$357,525
Rate6.25% (30-year)
P&I Payment$2,202
PMI$0 (VA — no PMI)
Property Tax$292/mo
Insurance$100/mo
Total Monthly$2,594
vs. Conventional (10% down, 6.75%)$2,700+/mo
VA Monthly Savings~$100+/mo

Without VA benefits, Sgt. Williams would need $35,000 for a 10% down payment plus ongoing PMI. The VA loan requires no down payment and no PMI, keeping cash available for moving costs, emergency fund, or investing.

Frequently Asked Questions

VA loan eligibility extends to: (1) active duty service members with 90+ continuous days, (2) veterans who served 90 days during wartime or 181 days during peacetime and were honorably discharged, (3) National Guard and Reserve members with 6+ years of service or 90+ days of active duty, and (4) un-remarried surviving spouses of veterans who died in service or from service-connected disabilities. Get a Certificate of Eligibility (COE) from the VA or through your lender to confirm eligibility.
The VA funding fee is a one-time charge that helps sustain the VA loan program without taxpayer cost. It replaces the PMI that conventional lenders require. For first-time active duty borrowers with no down payment, the fee is 2.15% of the loan amount. This can be financed into the loan or paid upfront at closing. Despite the fee, VA loans almost always save money compared to conventional loans with PMI over the loan's life.
Yes. VA loan benefits can be used multiple times, though the funding fee increases for subsequent use (3.3% for 0-5% down vs 2.15% for first use). After you sell your home and pay off the VA loan, your full entitlement is restored. You can also have two VA loans simultaneously in some cases (if you haven't used full entitlement). Each use requires a new COE showing remaining entitlement.
Generally yes. VA loans typically carry rates 0.25-0.5% lower than comparable conventional loans because the VA guarantee reduces lender risk. The actual rate difference varies by lender, market conditions, and your credit profile. Shop multiple VA-approved lenders — rates can vary by 0.5% or more between lenders for the same borrower.
Since January 2020, there are no VA loan limits for eligible veterans with full entitlement — you can borrow as much as a lender will approve without a down payment. Veterans with reduced entitlement (from a prior VA loan not yet paid off) may have limits based on remaining entitlement. Individual lenders still apply their own underwriting criteria and may set practical limits based on income and debt.

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