VA Mortgage Calculator

Calculate your VA loan payment, funding fee, and compare with conventional mortgages. No down payment required, no PMI.

VA Loan Benefits

VA Purchase Loan

$400,000

Monthly Payment Breakdown

Monthly Payment
$2,528
P&I + Taxes + Insurance
Loan Amount
$408,300
After funding fee
Funding Fee
$8,300
2.15% of loan
Total Interest
$520,781
Over loan term

Payment Breakdown

Principal & Interest
$2,175
Base mortgage payment
Property Tax
$400
Monthly escrow
Home Insurance
$150
Monthly escrow

IRRRL Refinance Calculator

Refinance Savings

Monthly Savings
$311
Per month
New Payment
$2,098
P&I only
Break-Even
16 months
To recover costs
Lifetime Savings
$74,640
Over remaining term

Current vs. New Loan

Current Payment
$2,409
At 7.5% rate
New Payment
$2,098
At 6.0% rate
Rate Reduction
1.5%
Interest saved

VA Funding Fee Calculator

Funding Fee Results

Funding Fee
$8,600
2.15% of loan
Fee Rate
2.15%
Based on your inputs
Total Loan
$408,600
With fee included
Note: Disabled veterans with VA disability compensation are exempt from the VA funding fee, potentially saving thousands of dollars.

VA Funding Fee Rates

Down Payment First Use Subsequent
0% 2.15% (2.3% Reserves) 3.3% (3.3% Reserves)
5% - 9.99% 1.5% (1.75% Reserves) 1.5% (1.75% Reserves)
10%+ 1.25% (1.5% Reserves) 1.25% (1.5% Reserves)
IRRRL 0.5% (0.5% Reserves)
Cash-Out Refi 2.15% (2.3% Reserves) 3.3% (3.3% Reserves)

VA Entitlement Calculator

Entitlement Results

Available Entitlement
$144,000
Basic + Bonus
Basic Entitlement
$36,000
Minimum guarantee
Bonus Entitlement
$108,000
For loans over $144K
Max Loan (0% Down)
$766,550
No down payment
Zero Down Payment: You can borrow up to the county loan limit with $0 down if you have full entitlement available.

Compare Loan Types

Loan Comparison Results

VA Loan
$2,528
No PMI, no down payment required
Best for Veterans
Conventional
$2,685
Requires 5% down + PMI
FHA Loan
$2,712
3.5% down + MIP required

Total Cost Comparison

VA - Total Interest
$520,781
Conv - Total Interest
$489,432
FHA - Total Interest
$512,108

VA Loan Benefits & Information

Key VA Loan Benefits

  • No down payment required (100% financing)
  • No private mortgage insurance (PMI)
  • Competitive interest rates
  • Limited closing costs
  • No prepayment penalty
  • Assumable by future buyers

Eligibility Requirements

  • Served 90+ consecutive days during wartime
  • Served 181+ days during peacetime
  • 6+ years in National Guard or Reserves
  • Spouse of service member who died in line of duty
  • Valid Certificate of Eligibility (COE)

IRRRL Refinance Benefits

  • Streamlined refinance process
  • No appraisal required in most cases
  • No income verification needed
  • Lower funding fee (0.5%)
  • Can skip up to 2 mortgage payments

Recommended VA Loan Lenders

VA Loan Specialist

Top-rated VA lender with dedicated veteran support

Veterans United

Nation's largest VA purchase lender

Navy Federal CU

Exclusive rates for military members