VA Loan Calculator
The VA loan calculator below provides your estimated monthly mortgage payments with a VA loan.
Skip the guesswork!
Calculate your monthly payment with a VA Loan Expert at Veterans United.
Calculate your VA loan payment:
Your Estimated
Monthly Payment:
- Principal & Interest
- Taxes
- Insurance
- VA Funding Fee
Loan Totals:
- Purchase Price
- Down Payment
- VA Funding Fee
- Total Loan Amount
Ready to see a more personalized quote?
See what you qualify for →VA Loan Basics
VA loans are a government-backed mortgage program uniquely for Veterans, military members and select military spouses with a valid Certificate of Eligibility (COE). VA loans have a variety of benefits, including the flagship benefits of $0 money down, no private mortgage insurance (PMI) and typically lower-than-average interest rates.
If you're unsure if you meet the VA's eligibility requirements or are ready for a personalized quote, talk with a Veterans United Home Loans specialist today.
How is a VA Loan Calculated?
Calculating monthly payments for a VA loan is similar to other mortgage options. However, it's not exactly the same. VA loans come with unique calculations, including the VA funding fee, which can vary based on the Veteran and loan type. Veterans United's VA loan calculator considers these factors to accurately estimate your purchasing power.
How to Use the VA Loan Calculator
To use the VA loan calculator, adjust the inputs to fit your unique homebuying or refinancing situation. The calculator updates your estimated VA loan payment as you change the fields. In the "Advanced Settings" section, you can update the property taxes and insurance estimates for your specific location, though 1.2% and 0.35% are typical.
A Look at the VA Loan Calculator's Inputs
| Input | Explanation |
|---|---|
| Home Value | Home value is the potential purchase price of the home, not including a down payment. |
| Down Payment | The down payment is an upfront amount paid towards the principal. VA loans do not require a down payment, and most VA borrowers choose $0 down. However, if you decide to put money down, it can reduce the VA funding fee - if required - and your overall monthly payment. |
| Interest Rate | The interest rate is the cost of borrowing. Interest rates in the calculator include APR, which estimates closing costs and fees and is the actual cost of borrowing. Interest rates in the calculator are for educational purposes only, and your interest rate may differ. You can view current VA mortgage rates here. |
| Loan Term | Loan term is the length you wish to borrow - typically 15 or 30 years. |
| Credit Score | Interest rates typically vary based on several factors, including credit score. Estimate your credit score for a more accurate VA loan payment. |
| Loan Type | VA loans provide both purchase and refinance options. Calculations for loan types differ due to the VA funding fee. While this calculator works for refinancing, we also have a specific VA refinance calculator for cash-out and IRRRLs here. |
| VA Specifics | VA specifics relate to the VA funding fee. VA buyers exempt from the VA funding fee include those with a disability rating greater than 10%, those who've received a Purple Heart and surviving spouses. Borrowers who aren't exempt and have used a VA loan before are subject to a slightly higher VA funding fee. |
What is the VA Funding Fee?
The funding fee is a governmental fee paid to the Department of Veterans Affairs to help keep the VA loan program running for years to come. The VA funding fee ranges from .5 to 3.6 percent and not every borrower is required to pay it.
How Much Will My VA Loan Payment Be?
There are a variety of factors that play into the calculation of your monthly loan payment. Typically, the factors affecting your monthly payment include the home price, down payment, interest rate, and if you have to pay the VA funding fee.
As with any mortgage calculator, these numbers are estimates. To get exact figures, contact Veterans United Home Loans and speak with a home loan specialist.
