Skip to content
Calcapedia
Menu
Money

VA Loan Calculator

Find your monthly VA home loan payment, with the current VA funding fee for buying or refinancing, first or later use, and no monthly mortgage insurance.

Level: Grades 11–12

  • Common Core standard HSA.SSE.B.4Derive the formula for the sum of a finite geometric series (when the common ratio is not 1), and use the formula to solve problems.
Printable worksheet

VA Loan Calculator

Know the answer you need? Pick an input to work backward.

Inputs
Loan type

VA loans need no down payment, but 5% or 10% lowers the funding fee.

Have you used a VA home loan before?

For example, you receive VA disability compensation or are a Purple Heart recipient on active duty.

Result

Total monthly payment

$2,568.54

A VA loan of $357,525.00 at 6% for 30 years costs about $2,568.54 a month with tax and insurance, with a $7,525.00 funding fee and no monthly mortgage insurance.

Principal and interest
$2,143.54
Property tax and insurance (monthly)
$425.00
VA funding fee
$7,525.00Added to the loan
Funding fee rate
2.15%
Loan amount before the fee
$350,000.00
Total loan amount
$357,525.00
Loan-to-value (with the fee)
102.15%
Total interest over the loan
$414,150.49
Down payment plus any fee paid in cash
$0.00Closing costs are extra.
Monthly payment
  • Principal and interest$2,143.5483.5%
  • Property tax$300.0011.7%
  • Insurance$125.004.9%

See the step-by-step solution ↓

Step-by-step solution

  1. With no down payment, you borrow the full price

    loan amount=$350,000.00

  2. Find the one-time VA funding fee. For a purchase, first use, under 5% down, the VA's table sets it at 2.15% of the loan

    $350,000.00×2.15%=$7,525.00

  3. You chose to add the fee to the loan, so it becomes part of what you borrow

    $350,000.00+$7,525.00=$357,525.00

  4. Find the monthly loan payment (principal and interest). A standard formula gives the one amount that pays off the loan, with interest, in 360 months. It uses the yearly rate ÷ 12, because interest is charged monthly

    $357,525.00×0.0051−(1+0.005)−360=$2,143.54

  5. Add monthly property tax, insurance and any HOA dues to get what you pay each month. VA loans have no monthly mortgage insurance to add

    $2,143.54+$300.00+$125.00+$0.00=$2,568.54

Test yourself

20 quick questions built from this calculator's formula: work out results, predict what happens when an input changes, and work backward from an answer. Every answer comes with the working.

Please note: Results are estimates for planning and comparison. Lenders, banks, and tax authorities may round differently or include fees not modeled here, so confirm figures with your provider before deciding.

What this calculator does

Find out what your monthly payment would be on a VA home loan, including the VA funding fee. A VA loan is a mortgage backed by the Department of Veterans Affairs. It's for eligible Veterans, service members, National Guard and Reserve members and some surviving spouses. You don't need a down payment, and there's no monthly mortgage insurance. Instead, most borrowers pay a one-time VA funding fee. It's a percent of the loan, and it depends on the loan type, your down payment and whether you've used the benefit before.

The calculator looks up your fee in the VA's current table. If you choose to add the fee to the loan, it does that. Then it works out your loan payment, called principal and interest. It adds your property tax, home insurance and HOA dues to give the full monthly payment. It works for buying a home, a cash-out refinance and an IRRRL, a refinance that lowers your interest rate. If you're exempt from the fee, it leaves the fee out.

Where it's used

Why this math matters outside the classroom:

  • Funding fee. A Veteran buying a $350,000 home with no down payment pays a first-use fee of 2.15% × 350,000, which is $7,525.
  • Down payment bands. Putting 5% down on that $350,000 home cuts the fee rate to 1.5% of the $332,500 loan, or $4,987.50.
  • Refinance decisions. Homeowners check whether a lower rate on an IRRRL saves enough each month to cover the 0.5% funding fee.
  • Comparing loan types. Buyers set a VA payment with no mortgage insurance beside an FHA payment that includes monthly MIP.
  • Benefit counseling. Military transition counselors show service members how a zero-down VA payment breaks into principal, interest, tax and insurance.

Grade level and standards: Grades 11–12; Common Core State Standards for Mathematics HSA.SSE.B.4. © Copyright 2010. National Governors Association Center for Best Practices and Council of Chief State School Officers. All rights reserved.

How to use it

  1. Choose whether you're buying or refinancing, and whether this is your first VA loan.
  2. If you're buying, enter the price and any down payment. If you're refinancing, enter the new loan amount before the fee.
  3. Tick the exemption box if it applies to you. Choose whether to add the fee to the loan, then enter the rate and the length of the loan.
  4. Add your yearly property tax and insurance and any HOA dues. Then read your monthly payment and the funding fee.

What the inputs mean

Down payment
Any amount is fine, including zero. Putting at least 5% down cuts a first-use purchase fee from 2.15% to 1.5%. Putting 10% or more down cuts it to 1.25%.
New loan amount (before the fee)
For a refinance, the fee is a percent of the new loan. For an IRRRL, that's usually close to what you owe now.
Have you used a VA home loan before?
Choose yes if you've had a VA-backed loan before. It only raises the fee when you put less than 5% down on a purchase, or take a cash-out refinance. If your only earlier VA loan was for a manufactured home, the first-use rate still applies.
Exempt from the funding fee
You don't pay the fee in any of these cases. You get VA compensation for a disability connected to your service, or would if you weren't getting retirement or active-duty pay. You're a surviving spouse getting Dependency and Indemnity Compensation. You have a rating before discharge that makes you eligible for compensation. Or you're on active duty and have received a Purple Heart.
Add the funding fee to the loan
Most borrowers add the fee to the loan. That can make the loan bigger than the home's price, which the VA allows for the fee.

Formula and method

purchase: loan = price − down payment;  refinance: loan = new loan amount
funding fee = fee rate × loan  (0 if exempt)
fee rate (purchase): under 5% down 2.15% first use / 3.3% after;  5% to under 10% down 1.5%;  10%+ down 1.25%
fee rate (refinance): cash-out 2.15% first use / 3.3% after;  IRRRL 0.5%
total loan = loan + funding fee (if financed)
P&I = L × i ÷ (1 − (1 + i)^(−n)),  i = rate ÷ 12;  total = P&I + tax ÷ 12 + insurance ÷ 12 + HOA

In the formulas, L is the total amount you borrow, i is the monthly interest rate and n is the number of monthly payments. P&I is principal and interest: the part of the payment that pays back the loan plus its interest. The formula finds the one monthly amount that pays off the loan, with interest, in exactly n months.

The funding fee helps pay for the VA home loan program, so it can keep running without down payments or mortgage insurance. You pay it once, at closing. The rates in the table have applied since April 7, 2023.

Because there's no monthly mortgage insurance, your monthly payment is principal and interest plus property tax, insurance and any HOA dues. Tax and insurance are usually paid through your lender in an account called escrow. If you add the fee to the loan, you pay interest on it for as long as you have the loan.

Worked example

A first-time VA borrower buys a $350,000 home with no money down, at 6% for 30 years. They add the funding fee to the loan, and they pay $3,600 a year in property tax and $1,500 for insurance.

  1. Funding fee for a first-use purchase with under 5% down: 2.15% × $350,000 = $7,525.
  2. Total loan with the fee financed: $350,000 + $7,525 = $357,525.
  3. Principal and interest: $357,525 at 6% ÷ 12 over 360 months ≈ $2,143.54.
  4. Tax and insurance: $3,600 ÷ 12 = $300 and $1,500 ÷ 12 = $125.
  5. Total: $2,143.54 + $300 + $125 = $2,568.54.

Result: The estimated payment is $2,568.54 a month. That includes a $7,525 funding fee added to the loan, and no mortgage insurance.

Understanding the result

Adding the fee to the loan costs more than it looks. In the example, the $7,525 fee adds about $45 to every payment for 30 years. Paying it in cash, or putting 5% down to cut the rate to 1.5%, lowers both.

If you're exempt, the fee is zero. In the example, that saves $7,525 up front. Your Certificate of Eligibility shows whether you're exempt.

Compare the VA total with an FHA or conventional loan quote. The VA loan usually has the lower monthly payment, even after the funding fee, because it has no mortgage insurance.

Assumptions and limitations

  • It uses the VA funding fee rates in effect since April 7, 2023, as published on VA.gov and still current in October 2026. These rates apply to Veterans, active-duty service members and Guard and Reserve members.
  • The loan has a fixed rate, and you pay at the end of each month. Payments aren't rounded to the cent.
  • Property tax and insurance are spread evenly over 12 months.
  • It doesn't handle VA loan entitlement (the amount the VA backs) or the county limits for borrowers with reduced entitlement. With full entitlement, the VA sets no loan limit, but lenders still check your income and credit.
  • Manufactured homes, taking over someone else's VA loan, vendee loans and Native American Direct Loans use other fees.
  • Closing costs, lender fees and extra cushions in your escrow account aren't included.
  • This is an estimate. The Loan Estimate from your lender is the official figure.

Frequently asked questions

How much is the VA funding fee in 2026?

For a first-use purchase, it's 2.15% with less than 5% down, 1.5% with 5% or more, and 1.25% with 10% or more. After first use, the rate with under 5% down is 3.3%. A cash-out refinance is 2.15% or 3.3%, and an IRRRL is 0.5%.

Who doesn't have to pay the VA funding fee?

People who get VA compensation for a disability connected to their service don't pay it. Neither do surviving spouses getting Dependency and Indemnity Compensation, or service members with a disability rating before discharge. Active-duty Purple Heart recipients are exempt too, along with others the VA lists.

Do VA loans have mortgage insurance?

No. A VA loan has no monthly mortgage insurance at any down payment. The one-time funding fee takes its place.

Can I add the funding fee to the loan?

Yes, and most borrowers do. That's why a zero-down VA loan can end up slightly bigger than the home's price. You'll pay interest on the fee you add.

Is the funding fee higher the second time?

Only if you put less than 5% down on a purchase (3.3% instead of 2.15%) or take a cash-out refinance. With 5% or more down, and for IRRRLs, the rate is the same the first time and after.

Sources

How this calculator is checked

Method: Standard level-payment formula; VA funding fee rates and exemptions from VA.gov (rates effective April 7, 2023, checked 2026-10-19; figures in src/lib/finance/housing-2026.ts). The calculation is covered by automated tests with known reference values and edge cases. Last updated 2026-10-18. Found a problem? Tell us.

Embed this calculator

Put this VA Loan Calculator on your own website or blog for free. Paste this code where you want it to appear: