VA Loan Calculator
Calculate monthly payments for a VA home loan. No down payment required for eligible veterans. Includes VA funding fee calculation.
VA loans are a benefit for eligible veterans, active-duty service members, and surviving spouses. They offer no down payment, no PMI, competitive rates, and limited closing costs — often the best mortgage deal available.
VA loan benefits
- No down payment required (up to conforming loan limits)
- No private mortgage insurance (PMI) — saves $100–$300/month vs conventional
- Competitive interest rates: typically 0.25–0.5% lower than conventional
- Limited closing costs: seller can pay all closing costs
VA funding fee
The VA funding fee replaces PMI for the VA program. It ranges from 0.5% to 3.6% of the loan amount depending on service type, down payment, and whether it's your first use. Veterans with a service-connected disability rating of 10%+ are exempt.
Who qualifies?
- Active duty: 90 consecutive days
- Veterans: generally 90 days (wartime) or 181 days (peacetime)
- National Guard/Reserves: 6 years of service
- Surviving spouses of veterans who died in service or from service-connected disability