VA Loan Calculator
Estimate your VA loan payment with the funding fee financed in and no monthly mortgage insurance. Free and based on documented 2024 rates.
Independently verified for accuracy
Calculator by Toolsloft ↗- Base loan
- 300000
- Funding fee (financed)
- 6450
- Total financed loan
- 306450
- Monthly payment
- 1936.97
This calculator estimates the monthly payment on a VA loan, with the VA funding fee financed into the loan. VA loans require no monthly mortgage insurance, and the default 2.15% funding fee reflects a 2024 first-use, zero-down purchase. The fee varies by down payment and prior VA use, and some veterans are exempt, so treat the result as an estimate; your actual rate and fee may differ.
How this is calculated
The base loan is the home price minus the down payment. The VA funding fee is the base loan times your funding-fee percentage and is added to the financed total, since most borrowers roll it into the loan rather than pay it at closing. Principal and interest use the standard amortization formula on that total at your rate over the term, with no monthly mortgage insurance because VA loans do not charge it. The default 2.15% reflects the 2024 first-use, zero-down rate published by the VA; the fee is lower with a down payment and higher for subsequent use, and exempt borrowers pay none, so the output is an estimate.
How to use
- Enter the home price, your down payment, and the VA funding fee percentage.
- Enter the annual interest rate and the loan term in years.
- Read the base loan, financed funding fee, total loan, and monthly payment.
Examples
- $300,000 home, $0 down at 6.5% / 30 yr, 2.15% fee:
payment $1,936.97/mo - $400,000 home, $40,000 down at 6% / 30 yr, 1.5% fee:
payment $2,190.76/mo
FAQ
- Do VA loans have monthly mortgage insurance?
- No. Unlike FHA and conventional loans below 20% down, VA loans charge no monthly mortgage insurance, which is why this calculator omits it.
- Why default to a 2.15% funding fee?
- That is the 2024 funding fee for a first-use, zero-down purchase. The fee is lower if you put money down and higher for subsequent VA loan use, so adjust the percentage to match your situation.
- Who is exempt from the funding fee?
- Veterans receiving compensation for a service-connected disability and certain surviving spouses are generally exempt. If that applies to you, set the funding fee to 0%.