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VA Mortgage Calculator
VA loans offer 0% down and no PMI for eligible veterans and active-duty military. Calculate your complete monthly payment including the one-time VA funding fee.
Educational calculators — always consult a licensed professional before making financial decisions.
VA loans allow 0% down for eligible veterans and active-duty military.
VA loans allow 0% down — but putting down 5% or 10% reduces the funding fee.
$0 of home price
Subsequent use has a higher funding fee.
First-time VA loan use carries a lower funding fee (2.15% with 0% down, less with more down).
VA loan rates are typically competitive with or lower than conventional rates.
Choose the term of your VA mortgage.
Lowest monthly payment. Most VA borrowers choose 30 years to maximize purchasing power.
Check your county assessor's site or use 1.2% of home value as an estimate.
Average is $1,000–$2,000/year.
Total monthly payment
$2,735
P&I + taxes + insurance (no PMI)
Where Your Money Goes
Monthly payment breakdown
Estimates for educational purposes only. VA funding fee rates may change. Disabled veterans may be exempt. Consult a VA-approved lender.
Your Saved Scenarios
No saved scenarios yet
What you'll need
- ·Home purchase price
- ·Down payment (can be $0)
- ·Whether it's your first or subsequent VA loan
- ·Interest rate
- ·Estimated property tax and insurance
What you'll get
- ✓Total monthly payment — P&I + taxes + insurance
- ✓VA funding fee — One-time cost rolled into loan
- ✓No PMI savings — Vs conventional with <20% down
- ✓Total interest over term — True cost of your VA loan
How it works
Confirm eligibility
VA loans require active duty, veteran, or surviving spouse status. No down payment required.
Enter purchase price
VA loans have no loan limits for eligible borrowers with full entitlement.
Calculate funding fee
VA funding fee is 1.25–3.3% depending on down payment and usage — can be rolled in.
VA vs Conventional Loan: $350,000 Purchase
| Metric | VA Loan (0% down) | Conventional (5% down) |
|---|---|---|
| Down payment | $0 | $17,500 |
| Funding fee / PMI cost | $8,050 (rolled in) | $196/mo PMI |
| Loan amount | $358,050 | $332,500 |
| Monthly payment | $2,383 | $2,213 + $196 |
| 5-year total cost | $143,000 | $144,000 |
VA funding fee waived for veterans with service-connected disability rating.
Authoritative resources
State guides
How this varies by state
Property taxes, insurance costs, first-time buyer programs, and closing costs differ significantly across states. See local data for your state.
California
Texas
Florida
New York
Illinois
Pennsylvania
Ohio
Georgia
North Carolina
Michigan
New Jersey
Virginia
Washington
Arizona
Colorado
Tennessee
About this calculator
What is the VA funding fee?+
The VA funding fee is a one-time charge (typically 1.25%–3.3% of the loan) that helps fund the VA loan program. The fee varies based on your down payment and whether it's your first VA loan. Disabled veterans are exempt. The fee is typically rolled into the loan rather than paid upfront.
Do VA loans require PMI?+
No — VA loans never require private mortgage insurance (PMI), even with 0% down. This is a major benefit over FHA and conventional loans with less than 20% down. The VA funding fee essentially replaces PMI as a one-time cost rather than ongoing monthly charge.
Who qualifies for a VA loan?+
VA loans are available to active-duty military, veterans who served the minimum required period, National Guard members, reservists, and surviving spouses of veterans who died in service. You'll need a Certificate of Eligibility (COE) from the VA to apply.
How does the VA funding fee compare to PMI or FHA MIP?+
The VA funding fee is a one-time cost (1.25–3.3%) rolled into the loan, whereas PMI and FHA MIP are ongoing monthly charges. On a $300,000 loan, the VA funding fee might add $3,750–$9,900 to the balance, but eliminates $150–$300/month in mortgage insurance. Most veterans break even on the fee within 2–5 years compared to FHA.
Can I use a VA loan more than once?+
Yes — VA loan benefit is reusable. If you've paid off a prior VA loan or sold the home and paid off the VA loan, your full entitlement is restored. You can also have two VA loans simultaneously if you have remaining entitlement (useful when PCS-ing before selling your current home). Check your Certificate of Eligibility for your current entitlement status.
Ready to see your VA loan numbers?
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VA Mortgage Calculator is built and maintained by the RealCostIQ editorial team. Cost ranges and rates are checked against published industry data and contractor quotes, and revised when the underlying figures move. Read our data methodology or more about who builds this. Every calculation runs in your browser — no account, and none of your inputs are stored.
Cost ranges and rates here are checked against contractor quotes and published industry data. If a number still looks off, email Support@RealCostIQ.com and we'll review and fix it.