VA Loan Calculator
Estimate a VA loan payment with the VA funding fee, including first-use versus subsequent-use rates, the disability exemption, and no mortgage insurance.
Total monthly payment
Principal and interest plus property tax, homeowners insurance, and HOA dues. VA loans add no monthly mortgage insurance.
$3,099.30
- Principal and interest
The principal and interest on the loan, including any financed funding fee.
- $2,582.63
- Property tax
- $366.67
- Homeowners insurance
- $150.00
- HOA dues
- $0.00
- Monthly mortgage insurance
VA loans carry no monthly mortgage insurance, a key saving versus FHA and low-down conventional loans.
- None. VA loans have no monthly mortgage insurance, unlike FHA or low-down conventional loans.
- Base loan amount
Home price minus the down payment, before the funding fee.
- $400,000.00
- Funding fee rate
The VA funding-fee rate applied, based on your use type and down-payment tier. Zero if you are exempt.
- 2.15%
- VA funding fee
The one-time VA funding fee: the base loan times the funding-fee rate.
- $8,600.00
- Funding fee financed
The funding fee added to the loan. Zero if you pay it at closing or are exempt.
- $8,600.00
- Total loan (with financed fee)
The amortized principal: base loan plus any financed funding fee.
- $408,600.00
- How the funding fee is handled
Whether the funding fee is financed, paid at closing, or waived by an exemption.
- Financed into the loan (added to the balance)
Monthly payment breakdown
| Item | Amount |
|---|---|
| Principal and interest | $2,582.63 |
| Property tax | $366.67 |
| Homeowners insurance | $150.00 |
| HOA dues | $0.00 |
| Total monthly payment | $3,099.30 |
Quick answer: With the example inputs this page loads by default, the headline result (Total monthly payment) comes to $3,099.30. Estimate a VA loan payment with the VA funding fee, including first-use versus subsequent-use rates, the disability exemption, and no mortgage insurance. Change any input above and every figure updates instantly in your browser.
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A VA loan payment is a standard mortgage payment with one VA-specific piece and one big omission. There is no monthly mortgage insurance, unlike FHA or low-down conventional loans. Instead you pay a one-time VA funding fee, a percent of the loan set by the VA that most borrowers finance into the balance. So your payment is principal and interest plus property tax, homeowners insurance, and any HOA dues.
What this result means
The headline is your full monthly VA payment: principal and interest plus property tax, homeowners insurance, and any HOA dues. The piece that sets a VA loan apart is what is missing, namely monthly mortgage insurance. FHA loans charge MIP and low-down conventional loans charge PMI every month, but a VA loan charges neither, so that entire line is simply missing from the payment. In its place is a one-time VA funding fee, a percent of the loan that depends on your down payment and whether this is your first VA loan. Most borrowers finance the fee into the loan, so it quietly raises the principal and interest for the whole term rather than being paid in cash. Putting money down lowers the fee, and a first-use loan with under 5 percent down carries a lower fee than a later one. Borrowers who receive VA disability compensation, eligible Purple Heart recipients, and certain surviving spouses pay no funding fee at all. Funding-fee rates are set by the VA and can change, so confirm the current figure for your case. This is an estimate for education, not a loan offer or financial advice.
Assumptions
- The full monthly payment is principal and interest plus property tax, homeowners insurance, and HOA dues. There is no monthly mortgage insurance, because VA loans do not charge it. The interest rate is fixed for the whole term, interest is charged monthly on the remaining balance, and each payment is made at the end of the month.
- VA loans have no down-payment minimum, so the base loan can be the full purchase price (0 percent down). The base loan is the price minus the down payment. A larger down payment lowers the funding fee.
- The VA funding fee is the base loan times a VA-set rate. For a purchase, first use is 2.15 percent with under 5 percent down, 1.50 percent with 5 to 9.99 percent down, and 1.25 percent with 10 percent or more down. Subsequent use is 3.30 percent with under 5 percent down, and the same 1.50 percent and 1.25 percent at the higher down-payment tiers. Source: VA.gov funding fee page and VA Circular 26-23-06 Exhibit B (the Public Law 116-23 schedule for loans closed on or after January 1, 2020).
- Borrowers receiving VA compensation for a service-connected disability (or eligible for it but drawing retirement or active-duty pay), surviving spouses receiving Dependency and Indemnity Compensation, and active-duty service members who received a Purple Heart on or before closing pay no funding fee. When the exempt option is selected the funding fee is set to zero and nothing is financed. Source: VA.gov funding fee page.
- By default the funding fee is financed, meaning it is added to the loan, so the amortized principal is the base loan plus the funding fee and the principal and interest are figured on that larger amount. You can instead pay it in cash at closing, which keeps the loan at the base amount. Exempt borrowers finance nothing.
- Property tax is an annual percent of the home price, homeowners insurance is the annual premium you enter, and HOA dues are a monthly amount. Each is converted to a level monthly figure and held constant for the whole term, with no escalation for inflation or reassessment. Each figure is rounded to the nearest cent.
- Funding-fee rates are set by the VA and can change, so verify the current figures for your loan. This calculator models a purchase loan; the funding fee for an Interest Rate Reduction Refinance Loan (0.50 percent) or a cash-out refinance (2.15 percent first use, 3.30 percent subsequent) is documented in the methodology but not computed here. Not modeled: VA loan limits and entitlement, closing costs and lender fees beyond the funding fee, and the tax deductibility of interest or property tax.
- This is an estimate for educational purposes only, not financial, legal, or tax advice, and not a loan offer. Your lender's figures and the current VA funding-fee schedule will govern. Consult a qualified professional and a VA-approved lender for numbers specific to your situation.
Key terms
Definitions for the terms this calculator uses, in our finance glossary .
How a VA loan payment is calculated
A VA loan payment is a normal amortizing mortgage payment with one addition and one notable absence. The addition is a one-time VA funding fee, usually financed into the loan. The absence is monthly mortgage insurance: VA loans do not charge any, unlike FHA loans (MIP) or low-down conventional loans (PMI). This calculator builds the payment the same way the mortgage calculator does, adds the funding fee to the financed principal, and charges no monthly mortgage insurance.
Base loan and 0 percent down
VA loans have no down-payment minimum, so the base loan can be the full purchase price. The base loan is the price minus whatever you choose to put down:
base loan = home price - down payment
A larger down payment is optional, but it lowers the funding fee (see the tiers below).
The VA funding fee
The funding fee is a one-time charge equal to the base loan times a VA-set rate. The rate depends on whether this is your first use of the VA loan benefit or a subsequent use, and on your down-payment tier:
funding fee = base loan x funding-fee rate
| 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% |
At 5 percent or more down, first and subsequent use are identical; only the under-5-percent cell differs. The fee is usually financed (added to the loan), so the amortized principal is the base loan plus the funding fee:
amortized principal = base loan + financed funding fee
The principal and interest are then the standard amortization of that principal (the same shared payment formula the mortgage calculator uses). If you pay the funding fee in cash at closing instead, the amortized principal is just the base loan.
Exemption. Borrowers who receive VA compensation for a service-connected disability (or are eligible for it but draw retirement or active-duty pay instead), surviving spouses receiving Dependency and Indemnity Compensation, and active-duty service members who received a Purple Heart on or before closing pay no funding fee at all. When exempt, the fee is zero and nothing is financed.
No monthly mortgage insurance
This is the VA advantage that most changes the monthly number. FHA loans add a monthly MIP and conventional loans with less than 20 percent down add PMI. A VA loan adds neither. So the total is simply:
total monthly payment = principal and interest + property tax + homeowners insurance + HOA
Property tax, homeowners insurance, and HOA dues are computed exactly as in the mortgage calculator and held level for the term.
The VA constants used, with sources
- Purchase funding fee (first use): 2.15% under 5% down, 1.50% at 5 to 9.99% down, 1.25% at 10% or more down. Subsequent use: 3.30% under 5% down, then the same 1.50% and 1.25%. Source: the VA.gov funding fee page and VA Circular 26-23-06 Exhibit B, the Public Law 116-23 schedule for loans closed on or after January 1, 2020.
- Exemption: 0 dollars for disability compensation, eligible Purple Heart recipients, and certain surviving spouses. Source: the VA.gov funding fee page.
- Refinance fees (documented, not computed here): an Interest Rate Reduction Refinance Loan (IRRRL) is 0.50 percent; a cash-out refinance is 2.15 percent first use and 3.30 percent subsequent use. Source: the VA.gov funding fee page.
Funding-fee rates are set by the VA and can change. Verify the current figures for your loan before relying on them; the constants above were verified against VA.gov in July 2026.
Worked example
Using the defaults: a 400,000 dollar home, 0 percent down, a 6.5 percent rate over 30 years, first use, not exempt, the funding fee financed, a 1.1 percent property tax rate, and 1,800 dollars of insurance.
- base loan =
400,000 - 0 = 400,000 - funding fee =
400,000 x 2.15% = 8,600(first use, under 5 percent down), financed, so amortized principal =408,600 - principal and interest on 408,600 at 6.5% over 30 years =
2,582.63 - property tax =
400,000 x 1.1% / 12 = 366.67; insurance =1,800 / 12 = 150.00 - monthly mortgage insurance =
0(VA loans have none) - total monthly payment =
2,582.63 + 366.67 + 150.00 = 3,099.30
Putting 5 percent down instead (20,000 dollars) would drop the funding fee to 1.50 percent of the 380,000 base loan, or 5,700 dollars, and lower the loan.
What this includes and excludes
It includes the funding fee, the financed-fee principal, principal and interest, and the monthly escrow, and it correctly charges no monthly mortgage insurance. It excludes VA loan limits and entitlement, closing costs and lender fees beyond the funding fee, refinance funding fees (documented above but not computed), and the tax treatment of interest or property tax. This is an estimate for education, not a loan offer or financial, legal, or tax advice.
Sources
- U.S. Department of Veterans Affairs, VA funding fee and loan closing costs, va.gov (funding-fee table and exemptions), accessed July 2026.
- U.S. Department of Veterans Affairs, Circular 26-23-06 Exhibit B, loan fee table (Public Law 116-23 schedule for loans closed on or after January 1, 2020), benefits.va.gov.
Frequently asked questions
- How much is the VA funding fee?
- For a purchase loan on your first use of the benefit, it is 2.15 percent of the loan with less than 5 percent down, 1.50 percent with 5 to 9.99 percent down, and 1.25 percent with 10 percent or more down. On a subsequent use it is 3.30 percent with less than 5 percent down, and the same 1.50 percent and 1.25 percent at the higher down-payment tiers. On a 400,000 dollar loan with nothing down and first use, the fee is about 8,600 dollars.
- Who is exempt from the VA funding fee?
- You pay no funding fee if you receive VA compensation for a service-connected disability, are eligible for that compensation but receive retirement or active-duty pay instead, are a surviving spouse receiving Dependency and Indemnity Compensation, or are an active-duty service member who received a Purple Heart on or before your loan closing date.
- Do VA loans require a down payment?
- No. A VA loan allows 0 percent down for eligible borrowers, which is one of its biggest advantages. Putting money down is optional, and it lowers the funding fee: 5 percent down cuts the fee to 1.50 percent and 10 percent down cuts it to 1.25 percent.
- Do VA loans have monthly mortgage insurance?
- No. VA loans carry no monthly mortgage insurance at all. FHA loans charge a monthly MIP and conventional loans with less than 20 percent down charge PMI, but a VA loan charges neither. The trade is the one-time funding fee, which most borrowers finance into the loan. Over the life of the loan, never paying that monthly line is one of the VA loan's biggest cost advantages.
- What does my result mean?
- The total monthly payment is what you would pay each month for principal, interest, taxes, and insurance, with no mortgage insurance added. The funding fee line is the one-time VA fee, usually financed into the loan, and the note tells you whether it is financed, paid at closing, or waived. Compare the total against an FHA or conventional payment, which would add monthly mortgage insurance on top.
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By Sam Sage Last reviewed .