This free VA Home Loan calculator from Veterans United Home Loans gives you a snapshot of what your monthly payments would be with a VA Loan. Use this mortgage calculator to determine your monthly payments and find the right home to fit your budget. For more information, visit our VA Home Loans page.
Veterans United Home Loans is not affiliated with any government agencies, including the VA. We may share customer information with our trusted affiliates to assist you with your VA Loan. Customers with questions regarding our loan officers and their licensing may visit the Nationwide Mortgage Licensing System & Directory for more information.
In general, eligiblity includes 181 days of peacetime service, 90 days war time service or 6 years in the reserve or National Guard. Some surviving spouses of veterans who died while in service or from a service-connected disability may also be eligible.
On most mortgages, borrowers who can't put down 20 percent of the loan amount are required to pay private mortgage insurance. It protects lenders against borrowers who default and also helps borrowers who can't muster a large down payment. There is no PMI on a VA loan.
A mandatory fee paid to the VA assigned to all VA Loans. The funding fee amount can be financed, meaning the cost won't come out of your pocket at closing. Borrowers with a service-connected disability are exempt from paying the fee.
Closing costs are the charges and fees associated with processing and finalizing a loan. With the VA Loan, there are predefined closing cost limits: a 1 percent lender origination fee, reasonable discount points and other reasonable and standard fees and charges.