VA Mortgage Calculator – Estimate Your Monthly Payment
Estimate payments on a VA loan, including the funding fee and no down payment option.
About the VA Mortgage Calculator
What is the VA Mortgage Calculator?
A VA mortgage calculator estimates payments on a Department of Veterans Affairs home loan, including the funding fee that many VA borrowers pay.
Why use this calculator?
VA loans let eligible veterans, service members and surviving spouses buy with no down payment and often a below-market rate. Modeling the funding fee shows the true amount financed.
How to use it
- Enter the home price and any down payment.
- Enter the interest rate and term.
- Set the VA funding fee percentage that applies to you.
- See the total financed and monthly payment.
Formula
Total financed = (Price − down) × (1 + funding fee); payment uses the amortizing formula.
The funding fee varies by down payment and first versus subsequent use, and is waived for veterans with a service-connected disability.
Frequently Asked Questions
Do VA loans really require no down payment?
Yes, eligible borrowers can finance 100% of the price. Some choose to put money down to reduce the funding fee and monthly payment.
What is the VA funding fee?
A one-time fee that funds the program. It can be paid at closing or rolled into the loan. It is waived for borrowers receiving VA disability compensation.
What is included in a monthly mortgage payment?
Most payments combine principal, interest, property taxes and homeowners insurance (often called PITI). Some loans also include private mortgage insurance (PMI).
What is PMI and when can I drop it?
Private mortgage insurance is usually required when your down payment is under 20%. You can typically request removal once you reach 20% equity.
Fixed versus adjustable rate — which is better?
A fixed rate keeps the same interest rate for the whole term, giving predictable payments. An adjustable rate starts lower but can rise after the initial period.
How much house can I afford?
A common guideline is that housing costs stay below 28% of gross monthly income and total debt below 36%, though lenders and budgets vary.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate based on self-reported data. Pre-approval is a verified commitment after a lender reviews your finances.
Is this calculator free to use?
Yes. Every calculator on this site is completely free, with no hidden fees, no subscriptions and no limits on how many times you can use it.
How accurate are the results?
We use standard, widely accepted formulas and calculate in your browser using double-precision arithmetic. Results are rounded for readability, so treat them as reliable estimates rather than a guarantee. Real-world factors can vary the true figure.
Can I add this calculator to my own website?
Yes. Open this calculator page and use the "Add to your website" box in the sidebar to copy a ready-made iframe snippet, then paste it into any HTML page.