VA Loan Calculator

VA loan snapshot observed 2026-07-09; fee schedule version unestablished; not current eligibility/fee advice.

The VA loan calculator estimates a VA-style home loan payment with the funding fee financed into the mortgage. It is different from the FHA loan calculator, which emphasizes mortgage insurance premium, and different from the general mortgage calculator, which does not model VA’s funding fee. Use this page when the key question is: what would the monthly payment look like if the VA funding fee, property tax, homeowners insurance, and HOA dues are included?

Inputs and what they mean

Enter the home price, down payment, interest rate, and loan term in years. Then add annual property tax, annual home insurance, monthly HOA fees, and the VA funding fee percentage. The calculator converts the annual tax and insurance figures into monthly amounts, adds the HOA fee as a monthly amount, and calculates the funding fee from the purchase price minus down payment. The funding fee is then financed into the loan amount.

This calculator estimates payment math only. VA approval can involve Certificate of Eligibility status, entitlement, credit, income, residual income, occupancy, property standards, appraisal, lender underwriting, and funding-fee exemption rules. The official VA resources linked below are the right source for program eligibility. Use the debt-to-income calculator to screen obligations and the budget calculator to plan cash flow beyond the loan payment.

Formula

Funding fee amount:

$\text{funding fee amount} = (\text{home price} - \text{down payment}) \times \text{funding fee percent}$

Financed loan amount:

$\text{loan amount} = \text{home price} - \text{down payment} + \text{funding fee amount}$

Monthly principal and interest:

$\text{principal and interest} = \frac{\text{loan amount} \times \text{monthly rate} \times (1 + \text{monthly rate})^{\text{loan term months}}}{(1 + \text{monthly rate})^{\text{loan term months}} - 1}$

Monthly tax and insurance:

$\text{monthly tax} = \frac{\text{annual property tax}}{\text{12}}$

$\text{monthly insurance} = \frac{\text{annual home insurance}}{\text{12}}$

Total monthly payment:

$\text{monthly payment} = \text{principal and interest} + \text{monthly tax} + \text{monthly insurance} + \text{HOA fees}$

Checking the primary result

The default scenario uses a $350,000 home price, $0 down payment, 6.25% interest rate, 30-year term, $4,200 annual property tax, $1,500 annual home insurance, $0 monthly HOA fees, and a 2.3% VA funding fee. The funding fee is:

$\text{funding fee amount} = (\text{350,000 dollars} - \text{0 dollars}) \times \text{2.3\%} = \text{8,050 dollars}$

The financed loan amount is $358,050. At 6.25% for 360 months, the principal-and-interest payment is $2,204.58. Property tax contributes $350.00 per month because $4,200 divided by 12 equals $350. Homeowners insurance contributes $125.00 per month because $1,500 divided by 12 equals $125. HOA fees are $0 in the default scenario. The primary monthly payment is therefore:

$\text{monthly payment} = \text{2,204.58 dollars} + \text{350.00 dollars} + \text{125.00 dollars} + \text{0 dollars} = \text{2,679.58 dollars}$

The calculator also reports total payment of $964,647.16 over 360 months and total interest of $435,597.16 on the financed loan amount. In the payment breakdown, principal and interest are grouped together; the separate interest breakdown line in the component represents the early-month interest portion above straight principal, not a full amortization schedule.

VA funding fee and no-PMI context

VA-backed home loans are known for allowing eligible borrowers to buy with no down payment in many cases and without monthly private mortgage insurance. However, many borrowers pay a funding fee, and the percentage can vary by service category, first or subsequent use, down payment size, and exemption status. VA explains that some borrowers, including certain veterans receiving disability compensation, may be exempt from the funding fee. Enter the fee that matches your official scenario rather than relying on the default.

The funding fee is not the only cost. Property tax, insurance, HOA dues, maintenance, utilities, closing costs, and moving expenses still affect affordability. If you are choosing between programs, run the same home price in the FHA loan calculator, the mortgage calculator, and the loan calculator. VA may compare favorably because there is no monthly PMI, but the best option depends on rate, fees, cash available, and eligibility.

Tips for using the estimate

• Use a funding fee percentage from VA or your lender for your exact use case.
• Enter local property tax and insurance estimates rather than national averages.
• Add HOA fees if the property has them; they are part of monthly housing cost.
• Keep cash reserves even when the down payment is zero.
• Review residual-income and lender requirements; affordability is broader than the payment formula.

Informational note

This calculator does not verify VA eligibility, entitlement, funding-fee exemption, appraised value, property condition, or lender approval. It also requires a positive interest rate in the current component even though the input minimum permits zero, so a zero-rate scenario is treated as invalid by the calculation. Use official VA and lender documents for final decisions.

Sources

• VA.gov, VA home loans — official overview of VA home loan benefits and eligibility.
• VA.gov, Funding fee and closing costs — official funding-fee and closing-cost information.
• CFPB, What is a VA loan? — consumer explanation of VA loans.
• CFPB, Loan options — home loan comparison guidance.