VA Mortgage Calculator
Estimate a VA-backed purchase loan payment with the current funding-fee schedule, down payment, taxes, insurance and HOA costs.
Enter your values
Change any assumption and calculate again to compare results.
Current VA funding-fee logic
For VA-backed purchase and construction loans, the funding fee depends on whether this is the first use of the VA home-loan benefit and on the size of the down payment. Current VA rates are 2.15% for first use with less than 5% down, 3.3% for subsequent use with less than 5% down, 1.5% with at least 5% down, and 1.25% with at least 10% down. Some borrowers are exempt.
The calculator applies the funding fee to the base loan amount after the down payment and assumes the fee is financed. It then calculates the principal-and-interest payment and adds the tax, insurance and HOA amounts you enter. VA-backed loans generally do not require monthly private mortgage insurance, which is why there is no PMI field.
Use the payment as a planning estimate
The result is useful for comparing down-payment choices and seeing how the one-time funding fee affects the financed balance. A larger down payment can reduce both principal and, for eligible borrowers, the funding-fee percentage.
Your actual payment can differ because lenders may use different interest rates, closing-cost treatment, escrow estimates, discount points and prepaid items. Always compare the calculator with the official Loan Estimate before closing.
Funding-fee exemptions
The exempt option sets the fee to zero. Exemption eligibility is determined by VA rules and individual benefit status; the calculator does not determine eligibility.
If you are unsure whether you are exempt, use the non-exempt option for planning and confirm your Certificate of Eligibility and lender documentation before making a decision.
Frequently Asked Questions
Does a VA loan have monthly PMI?
VA-backed purchase loans generally do not require monthly private mortgage insurance. This calculator therefore focuses on principal, interest, taxes, insurance, HOA and the one-time funding fee.
Can the VA funding fee be financed?
Yes, many borrowers finance the fee into the loan. This calculator assumes financing so you can see the effect on the loan balance.
Why is the funding fee different for first and subsequent use?
VA publishes different purchase-loan funding-fee rates based on use history and down-payment tier. The calculator applies the current schedule for the options shown.