VA Mortgage Calculator - Calculate VA Loan Payments & Funding Fees
VA Mortgage Calculator
($)
(%)
years
Active Military/Veteran
Reserve/Guard Member
Qualified Surviving Spouse
Previous User
First-Time User
VA Disability Rating 10%+
No VA Disability Rating
Finance with Loan Amount
Pay at Closing
VA Mortgage Calculation Results
Home Price
Down Payment
VA Funding Fees
Loan Amount
Total Interest
Monthly Payment
Total Payment
Amount Due at Signing
Mortgage Payoff Date
Monthly Payment Breakdown
| Item | Monthly | Total |
|---|---|---|
| Mortgage Payment | ||
| Property Tax | ||
| Home Insurance | ||
| HOA Fee | ||
| Other Costs | ||
| Total Buyer Costs |
Payment Schedule Visualization
Payment Amortization Table
| Month | Date | Interest | Principal | Payment | Ending Balance | Cumulative Payment | Cumulative Principal |
|---|
| Year | Date | Interest | Principal | Payment | Ending Balance | Cumulative Payment | Cumulative Principal |
|---|
What Is the VA Funding Fee?
The VA funding fee is a one-time payment that helps reduce the cost of the loan to taxpayers. The fee varies based on your down payment amount, military service type, and whether it's your first VA loan.
| Down Payment | First Time Use | Second and Subsequent Use |
|---|---|---|
| <5% | 2.15% | 3.3% |
| 5-10% | 1.5% | 1.5% |
| ≥10% | 1.25% | 1.25% |
How to Calculate VA Funding Fee?
To calculate the VA funding fee, multiply the purchase price or loan amount by the applicable VA funding fee percentage, which varies based on your service type, down payment amount, and whether it’s your first use of the VA loan benefit.
For example, if you’re a first-time user with no down payment on a $300,000 loan and the fee is 2.15%: $300,000 x 2.15% = $6,450.
For other example, if you’re a first-time user with 5% down payment on a $300,000 loan and the fee is 1.5%: ($300,000 - $300,000 x 5%) x 1.5% = $4,275.
References
Government Resources
- VA.gov - Home Loans - Official VA home loan information
- VA.gov - Funding Fees - Current VA funding fee rates and exemptions
- VA Benefits - Home Loans - Comprehensive VA loan benefits information
- Military.com - VA Loans - Military-focused VA loan guidance
Additional Resources
- Consumer Financial Protection Bureau - VA Loans
- HUD.gov - U.S. Department of Housing and Urban Development
- Fannie Mae - Mortgage information and resources
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