VA Loan Calculator
Estimate a VA mortgage payment, purchase funding fee, cash to close, total interest, and annual amortization schedule using your entered loan values.
Estimate a VA payment, funding fee, cash to close, and annual amortization schedule.
Purchase and VA loan details
Estimated monthly payment: $3,065.82
- Base VA loan
- $400,000
- Financed loan
- $408,600
- VA funding fee
- $8,600.00
- Estimated cash to close
- $10,000
VA funding-fee check
2.15% purchase funding-fee rate based on the entered down payment, use type, and exemption choice.
- Down payment
- 0.00%
- Funding fee
- $8,600.00
- Fee treatment
- Financed
- Monthly PMI
- $0.00
- Principal and interest
- $2,515.82
- Property tax
- $400.00
- Home insurance
- $150.00
- HOA
- $0.00
- Total estimated interest
- $497,096.06
- Total entered housing payments
- $1,103,696.06
| Down payment | First use | Subsequent use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% to 9.99% | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
Important notes
- This is an educational estimate, not a VA eligibility decision, Certificate of Eligibility review, appraisal, approval, or lender quote.
- Property taxes, insurance, HOA dues, closing costs, rates, and escrow payments can change; this estimate holds entered values constant.
- VA purchase loans do not require monthly private mortgage insurance, but borrower eligibility and lender underwriting still apply.
Estimated monthly payment
$3,065.82 across the entered mortgage and housing costs
| Principal & interest | $2,515.82 | 82% |
|---|---|---|
| Property tax | $400.00 | 13% |
| Home insurance | $150.00 | 5% |
Balance and interest over time
Year-end financed balance and cumulative interest
| Year | Ending balance | Cumulative interest |
|---|---|---|
| 1 | $403,812 | $25,402 |
| 5 | $381,376 | $123,725 |
| 10 | $344,195 | $237,494 |
| 15 | $293,417 | $337,664 |
| 20 | $224,067 | $419,264 |
| 25 | $129,354 | $475,500 |
| 30 | $0 | $497,096 |
Annual VA loan amortization schedule
Principal and interest are based on the financed balance, including the funding fee when selected.
| Year | Beginning balance | Principal | Interest | Ending balance |
|---|---|---|---|---|
| 1 | $408,600.00 | $4,787.94 | $25,401.90 | $403,812.06 |
| 2 | $403,812.06 | $5,095.91 | $25,093.93 | $398,716.15 |
| 3 | $398,716.15 | $5,423.69 | $24,766.15 | $393,292.46 |
| 4 | $393,292.46 | $5,772.56 | $24,417.28 | $387,519.90 |
| 5 | $387,519.90 | $6,143.86 | $24,045.98 | $381,376.04 |
| 6 | $381,376.04 | $6,539.03 | $23,650.81 | $374,837.01 |
| 7 | $374,837.01 | $6,959.65 | $23,230.19 | $367,877.36 |
| 8 | $367,877.36 | $7,407.30 | $22,782.54 | $360,470.06 |
| 9 | $360,470.06 | $7,883.76 | $22,306.08 | $352,586.30 |
| 10 | $352,586.30 | $8,390.83 | $21,799.01 | $344,195.47 |
| 11 | $344,195.47 | $8,930.57 | $21,259.27 | $335,264.90 |
| 12 | $335,264.90 | $9,505.02 | $20,684.82 | $325,759.88 |
| 13 | $325,759.88 | $10,116.37 | $20,073.47 | $315,643.51 |
| 14 | $315,643.51 | $10,767.08 | $19,422.76 | $304,876.43 |
| 15 | $304,876.43 | $11,459.65 | $18,730.19 | $293,416.78 |
| 16 | $293,416.78 | $12,196.75 | $17,993.09 | $281,220.03 |
| 17 | $281,220.03 | $12,981.26 | $17,208.58 | $268,238.77 |
| 18 | $268,238.77 | $13,816.23 | $16,373.61 | $254,422.54 |
| 19 | $254,422.54 | $14,704.91 | $15,484.93 | $239,717.63 |
| 20 | $239,717.63 | $15,650.78 | $14,539.06 | $224,066.85 |
| 21 | $224,066.85 | $16,657.47 | $13,532.37 | $207,409.38 |
| 22 | $207,409.38 | $17,728.89 | $12,460.95 | $189,680.49 |
| 23 | $189,680.49 | $18,869.25 | $11,320.59 | $170,811.24 |
| 24 | $170,811.24 | $20,082.95 | $10,106.89 | $150,728.29 |
| 25 | $150,728.29 | $21,374.72 | $8,815.12 | $129,353.57 |
| 26 | $129,353.57 | $22,749.58 | $7,440.26 | $106,603.99 |
| 27 | $106,603.99 | $24,212.88 | $5,976.96 | $82,391.11 |
| 28 | $82,391.11 | $25,770.29 | $4,419.55 | $56,620.82 |
| 29 | $56,620.82 | $27,427.88 | $2,761.96 | $29,192.94 |
| 30 | $29,192.94 | $29,192.94 | $997.76 | $0.00 |
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What does the VA Loan Calculator calculate?
The VA Loan Calculator converts the values you enter into a structured estimate using the formulas and assumptions documented on this page. Use the result to compare scenarios, review the calculation details, and identify sensitive inputs. Check the guide and formula sections before using the estimate for an important decision.
VA Loan Calculator at a Glance
- Estimates a fixed-rate VA-backed purchase payment using the loan values entered.
- Calculates the purchase funding fee from down payment, first or subsequent use and exemption status.
- Includes entered property tax, homeowners insurance, HOA dues and closing costs.
- Shows the financed loan, initial payment, cash to close, lifetime interest and annual amortization.
History
The modern VA home loan guaranty began with the Servicemen's Readjustment Act of 1944. Rather than lending the purchase money in a standard VA-backed transaction, the Department of Veterans Affairs guarantees part of a loan made by a private lender.
The guaranty can support favorable purchase terms for eligible Veterans, service members and qualifying survivors. Modern calculations must distinguish the base loan from the VA funding fee, account for first or subsequent use and down-payment tiers, and recognize that entitlement and lender underwriting remain separate from the payment math.
What Does This VA Loan Calculator Do?
This calculator estimates the base and financed VA loan, purchase funding-fee rate and amount, fixed principal-and-interest payment, property costs, cash to close, lifetime interest and annual amortization schedule. Review the VA Loan Calculator assumptions before relying on this result for decisions.
It models a fixed-rate VA-backed purchase loan. It does not establish eligibility, read a Certificate of Eligibility, calculate remaining entitlement, determine reasonable value or replace an appraisal, Loan Estimate or lender decision.
Who Should Use It?
Eligible or potentially eligible Veterans, active-duty service members, National Guard and Reserve members, and qualifying surviving spouses can use it to organize VA purchase scenarios before or after contacting lenders. Review the VA Loan Calculator assumptions before relying on this result for decisions.
Housing counselors, real estate professionals and financial educators can use the calculation breakdown to explain how the down payment, funding-fee status, note rate, loan term and property expenses affect estimated monthly and closing costs.
What Problems Does It Solve?
For “What Problems Does It Solve?,” the VA Loan Calculator organizes the relevant inputs, applies the documented method, and shows a result that can be compared across scenarios. The points below identify the specific considerations and assumptions users should review before relying on the estimate.
- Funding-fee confusion: applies the selected purchase rate to the base loan, not the purchase price.
- Use-status comparison: shows the difference between first and subsequent use below 5% down.
- Exemption planning: models a zero fee when the user selects a VA-confirmed exemption scenario.
- Payment visibility: combines principal, interest, property tax, homeowners insurance and HOA dues.
- Cash planning: compares financing the funding fee with paying it at closing.
- PMI confusion: keeps monthly private mortgage insurance out of the modeled VA-backed purchase payment.
- Payoff visibility: provides annual principal, interest and ending-balance estimates.
Key Benefits
Every important cost input remains editable. Users can compare zero down with 5% or 10% down, first use with subsequent use, a financed fee with a cash-paid fee, and different terms or rates.
The calculator also keeps entitlement guidance separate from payment math. Selecting full entitlement does not enlarge the calculated loan or imply approval; it changes the explanatory warning about when county conforming limits and remaining entitlement may matter.
VA Loan and Mortgage Definitions
- VA-backed loan
- A loan made by a private lender for which VA guarantees a portion, subject to program requirements.
- Certificate of Eligibility
- A VA document showing whether a borrower meets service-based eligibility and providing entitlement information for the lender.
- Base loan amount
- Purchase price minus the down payment in this calculator. The funding fee is calculated from this amount.
- VA funding fee
- A one-time program fee for many VA-backed and VA direct loans. The rate varies by loan type and, for purchases, use and down payment.
- Funding-fee exemption
- A confirmed status under which the borrower does not pay the fee. VA or the lender must verify eligibility for an exemption.
- Financed loan amount
- The base loan plus the funding fee when the user chooses to include the fee in the loan.
- Full entitlement
- Entitlement status under which VA says there is no county VA loan limit, although appraisal, affordability and lender approval still constrain the loan.
- Remaining entitlement
- Entitlement available after prior VA loan use. County conforming limits can affect the guaranty and down payment calculation.
- Cash to close
- Down payment plus entered closing costs and, when selected, the funding fee paid in cash. Prepaids and escrow deposits may be additional.
- Loan Estimate
- The standardized lender disclosure showing important loan terms, projected payments and estimated closing costs.
When to Use It
Use the calculator while planning a purchase, preparing for preapproval, comparing lender quotes or deciding whether a down payment fits the household budget. Update it when the rate, property costs, COE information or funding-fee exemption status changes. Review the VA Loan Calculator assumptions before relying on this result for decisions.
Run separate scenarios for first and subsequent use only until the lender confirms the correct status. Likewise, select a funding-fee exemption only for comparison until VA or the lender verifies it.
How the VA Loan Calculation Works
The engine calculates the base loan and one-time funding fee: For a useful VA Loan Calculator result, enter realistic values, compare relevant scenarios, check the calculation details, and review the definitions, assumptions, and limitations before using the estimate for an important decision.
V is purchase price, D is down payment, B is the base loan, f is the applicable funding-fee rate and P is the financed balance.
The fixed principal-and-interest formula uses the financed balance, monthly note rate and number of payments. Monthly property tax, insurance and HOA dues are then added. The annual table applies each scheduled payment to interest and principal until the balance reaches zero.
See the complete VA loan formula page for the funding-fee table, amortization equations, worked calculation and assumptions.
Frequently Asked Questions
What does the VA loan calculator include?
It estimates fixed-rate principal and interest, the current VA purchase funding fee, entered property tax, homeowners insurance, HOA dues, cash to close, lifetime interest, and an annual amortization schedule. Review the VA Loan Calculator assumptions before relying on this result for decisions.
Can I use a VA loan with no down payment?
VA says the guaranty allows many eligible borrowers to purchase with no down payment. The lender must still approve the loan, and the property appraisal can limit the loan amount. Review the VA Loan Calculator assumptions before relying on this result for decisions.
How is the VA funding fee calculated?
For the modeled purchase loan, the fee is a percentage of the base loan amount after the down payment. The rate depends on first or subsequent use and whether the down payment is below 5%, at least 5%, or at least 10%. An approved exemption makes the fee zero.
Can the VA funding fee be financed?
Yes. VA permits the funding fee to be included in the purchase loan. Financing it raises the loan balance and interest; paying it at closing raises estimated cash to close. Review the VA Loan Calculator assumptions before relying on this result for decisions.
Who may be exempt from the VA funding fee?
VA lists several possible exemptions, including certain borrowers receiving or eligible for service-connected disability compensation, certain surviving spouses receiving DIC, certain pre-discharge ratings, and active-duty Purple Heart recipients. VA or the lender must confirm status. Review the VA Loan Calculator assumptions before relying on this result for decisions.
Does a VA loan require monthly PMI?
VA-backed purchase loans do not require monthly private mortgage insurance. The one-time funding fee is separate from property tax, homeowners insurance, HOA dues, and lender closing costs. Review the VA Loan Calculator assumptions before relying on this result for decisions.
Is there a VA loan limit with full entitlement?
VA says borrowers with full entitlement do not have a county VA loan limit, but lender approval and the property appraisal still constrain the loan. County conforming limits can matter when entitlement is not fully restored. Review the VA Loan Calculator assumptions before relying on this result for decisions.
Does this calculator determine VA loan eligibility?
No. It is an educational purchase estimate. A Certificate of Eligibility, entitlement review, occupancy, appraisal, income, debts, credit, residual income, and lender underwriting determine actual eligibility and terms. Review the VA Loan Calculator assumptions before relying on this result for decisions.
One Fun Fact About This Calculator
In the default $400,000 first-use example, zero down keeps the base loan at $400,000, but financing the 2.15% funding fee raises the balance used for the mortgage payment to $408,600.
Conclusion
A useful VA mortgage estimate separates the base loan, funding fee, financed balance, monthly ownership costs and cash needed at closing. Review these values together rather than comparing note rates alone.
Use the calculator to prepare and compare scenarios. Confirm service eligibility, entitlement, exemption status, reasonable value, income, debts, residual income, credit, occupancy, closing costs and final loan terms with VA and a qualified lender.
VA Loan Calculator Disclaimer
This calculator provides educational estimates, not financial, tax or legal advice, a Certificate of Eligibility review, entitlement calculation, appraisal, loan approval, lender quote or commitment to lend. VA policies, lender requirements and property costs can change.