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Finance Calc Kit
Real estate

VA Loan Calculator

Calculate your monthly VA loan payment, including interest, principal, and the VA funding fee based on your down payment and military service details.

Loan parameters

$
$
%

VA funding fee details

Estimated monthly payment (P&I)

$2,259.80

Base loan amount

$350,000.00

VA funding fee rate

2.15%

VA funding fee amount

$7,525.00

Total loan amount

$357,525.00

Total interest paid

$456,003.00

Total loan payments

$813,528.00

Step-by-step calculation

Open to see the formula and substituted values.

  1. Base loan amount

    Base Loan=Home Price−Down Payment\text{Base Loan} = \text{Home Price} - \text{Down Payment}

    $350,000.00 - $0.00 = $350,000.00.

  2. VA funding fee

    Funding Fee=Base Loan×Fee Rate100\text{Funding Fee} = \text{Base Loan} \times \frac{\text{Fee Rate}}{100}

    $350,000.00 x 2.15% = $7,525.00.

  3. Monthly payment (P&I)

    $357,525.00 at 6.5% over 30 years = $2,259.80/mo.

VA funding fee rates reflect 2024 VA loan program tables. Exempt borrowers may qualify for a 0% funding fee.

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How the VA loan calculator works

VA loans help eligible veterans, service members, and surviving spouses buy homes with flexible down payment options. This calculator estimates principal and interest payments, the VA funding fee based on down payment and prior use, and total loan cost when the fee is rolled into the mortgage.

Compare conventional financing with the mortgage calculator or estimate total housing costs with the mortgage calculator with taxes and insurance after setting your VA loan payment here.

VA funding fee and monthly payment

Funding Fee=Base Loan×Fee Rate100\text{Funding Fee} = \text{Base Loan} \times \frac{\text{Fee Rate}}{100}
M=P×r(1+r)n(1+r)n−1M = P \times \frac{r(1+r)^n}{(1+r)^n - 1}

Funding fee rates depend on down payment percentage, whether this is your first VA loan use, and exemption status. Rates in this calculator follow 2024 VA program tables. Exempt borrowers may qualify for a 0% fee.

Worked example: $350,000 home, 0% down, first use, 6.5%, 30 years

  1. Base loan: $350,000 with no down payment
  2. Funding fee rate: 2.15% for first use with less than 5% down
  3. Funding fee amount: $350,000 x 2.15% = $7,525
  4. Total loan (fee rolled in): $357,525
  5. Monthly P&I: About $2,259.80 at 6.5% over 30 years

Frequently asked questions

What is the VA funding fee?
The VA funding fee helps sustain the VA loan program. It is a one-time charge based on loan amount, down payment, and prior VA loan use. Many borrowers finance it into the loan balance.
Who is exempt from the VA funding fee?
Veterans receiving VA disability compensation, Purple Heart recipients on first use, and certain surviving spouses may be exempt. Select the exemption checkbox if you qualify.
How does down payment affect the funding fee?
Larger down payments reduce the fee rate. With 5% to 9.99% down, first-use rates drop to 1.50%. With 10% or more down, the rate falls to 1.25%.
Does this include taxes and insurance?
No. The monthly payment shown is principal and interest only. Property taxes, homeowners insurance, and HOA fees are not included.
Which funding fee rates does this calculator use?
Rates follow 2024 VA loan program tables for purchase loans with 15- or 30-year terms.
Are the results stored?
No. All math runs in your browser and inputs sync to the page URL.

Resources and references

The formulas and methods in this calculator were checked against these independent sources.