# VA Loan Calculator

URL: https://speedycalculator.com/calculators/finance/va-loan/
Last updated: 2026-10-25

> The VA loan calculator works out the monthly payment on a U.S. Department of Veterans Affairs home loan including the VA funding fee – which depends on the down payment and whether it is your first use – and the total loan cost.

## Inputs

- Home value
- Down payment (%)
- Is this your first VA loan?
- Exempt from the funding fee (disability compensation)?
- VA loan term (years, months)
- Annual interest rate (%)
- Property tax (yearly)
- Homeowner insurance (yearly)

## Results

- Base loan amount
- Funding fee rate
- Funding fee
- Total loan cost (financed)
- Net monthly payment (P&I)
- Total monthly payment
- Total interest

## Formula

```
Funding fee (purchase): first use 2.15% (< 5% down), 1.5% (5–9.99%), 1.25% (10%+); subsequent use 3.3% (< 5% down)
Total loan = base loan + funding fee (if financed)
Payment = pmt(rate ÷ 12, months, total loan)
```

## Explanation

VA loans require no down payment and no mortgage insurance for eligible veterans, service members and surviving spouses. Veterans receiving VA disability compensation are exempt from the funding fee.

### How to use the VA Loan Calculator

- **Home value**
- **Down payment**
- **Is this your first VA loan?**
- **Exempt from the funding fee (disability compensation)?**
- **VA loan term**
- **Annual interest rate**
- **Property tax (yearly)**
- **Homeowner insurance (yearly)**

Results update as you type, and every field accepts the units shown in its menu.

### How it works

Enter the home value, down payment, whether it is your first VA loan or you are exempt, the term and interest rate.

### Tips

- Get a written loan estimate and compare the APR, not just the interest rate.
- Include property tax, insurance, HOA fees and maintenance in your monthly budget.
- A larger down payment lowers the payment and can remove mortgage insurance.
- Rates change daily – use a current quote for the most accurate result.

### Common mistakes to avoid

- Looking only at the monthly payment instead of the total cost of the loan.
- Forgetting closing costs and fees.
- Assuming home prices always rise.

### Inputs explained

FieldWhat to enterHome valueAmount in your currencyDown paymentIn %Is this your first VA loan?Choose one: Yes, No – subsequent useExempt from the funding fee (disability compensation)?Choose one: No, YesVA loan termUnits: years, monthsAnnual interest rateIn %Property tax (yearly)Amount in your currencyHomeowner insurance (yearly)Amount in your currency

### What each result means

- **Base loan amount** = [Home value]×(1 - [Down payment]÷100)
- **Funding fee** = [Base loan amount]×[Funding fee rate]÷100
- **Total loan cost (financed)** = [Base loan amount] + [Funding fee]
- **Net monthly payment (P&I)** = pmt([Annual interest rate]÷1200, [VA loan term], [Total loan cost (financed)])
- **Total monthly payment** = [Net monthly payment (P&I)] + [Property tax (yearly)]÷12 + [Homeowner insurance (yearly)]÷12
- **Total interest** = [Net monthly payment (P&I)]×[VA loan term] - [Total loan cost (financed)]

### Example values

How the main result changes when **Home value** changes and everything else stays at the example values above:

Home valueTotal monthly payment200,0001,733.22300,0002,345.66400,0002,958.1500,0003,570.54600,0004,182.98800,0005,407.86

## Worked example

Inputs — Home value: $400,000; Down payment: 0 %; Is this your first VA loan?: Yes; Exempt from the funding fee (disability compensation)?: No; VA loan term: 30 years; Annual interest rate: 6 %; Property tax (yearly): $4,400; Homeowner insurance (yearly): $1,700.

Results — Base loan amount = $400,000.00; Funding fee rate = 2.15 %; Funding fee = $8,600.00; Total loan cost (financed) = $408,600.00; Net monthly payment (P&I) = $2,449.76; **Total monthly payment = $2,958.10**; Total interest = $473,314.84.

## FAQ

**Do VA loans need a down payment?**
No – eligible borrowers can finance 100% of the price.

**How much is the VA funding fee?**
2.15% for first use with no down payment; less with 5–10% down.

**Who is exempt from the funding fee?**
Veterans receiving VA disability compensation, among others.

**What formula does the VA Loan Calculator use?**
Funding fee (purchase): first use 2.15% (< 5% down), 1.5% (5–9.99%), 1.25% (10%+); subsequent use 3.3% (< 5% down).


## Sources

- [U.S. Department of Veterans Affairs – Funding fee](https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/)