CalcQuick

VA Loan Calculator

Estimate your VA loan monthly payment, funding fee and total loan amount. VA loans offer 0% down payment and no monthly PMI.

Home & loan

$

VA loans allow 0% down payment.

%

Veterans with service-connected disabilities may be exempt from the funding fee.

VA loan estimate

Monthly payment

$2,582.63

No monthly PMI required

Base loan amount

$400,000.00

Funding fee

$8,600.00

Total loan amount

$408,600.00

Down payment

$0.00

Total payment

$929,746.80

Funding fee rate

2.15%

Results are estimates. VA funding fees and eligibility rules are set by the VA and may change.

How to use

  1. Enter the home price.
  2. Select your down payment percentage (0% is common for VA loans).
  3. Enter the interest rate and loan term.
  4. Choose the funding fee category that matches your service history and down payment.
  5. Review your monthly payment, funding fee and total loan amount.

Formula

Base loan amount = Home price − Down payment.

VA funding fee = Base loan amount × Funding fee %.

Total loan amount = Base loan amount + Funding fee (if rolled into the loan).

Monthly payment = Principal and interest on the total loan amount.

Example

For a $400,000 home with 0% down, 6.5% rate over 30 years and first-use funding fee of 2.15%:

Base loan = $400,000; Funding fee = $8,600; Total loan = $408,600; Monthly payment ≈ $2,583. No monthly PMI is required.

Frequently asked questions

Who qualifies for a VA loan?
Active-duty service members, veterans, National Guard and Reserve members, and some surviving spouses may qualify. A Certificate of Eligibility (COE) is required.
Do VA loans require a down payment?
No. VA loans allow 0% down payment in most cases, which is a major advantage over conventional and FHA loans.
Is there mortgage insurance on VA loans?
VA loans do not require monthly PMI. Instead, they charge a one-time funding fee, which can usually be financed into the loan.
Can the funding fee be waived?
Yes. Veterans receiving VA compensation for service-connected disabilities, certain surviving spouses and some other borrowers may be exempt from the funding fee.
Can I get a VA loan with no down payment?
Yes. Eligible veterans and service members can finance 100% of the home price with no down payment on most VA loans.
What is the VA funding fee?
The VA funding fee helps offset the loan program cost. It varies by down payment, first-time use, and disability status.

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