Calculate payments for VA loans including the funding fee.
The VA Mortgage Calculator estimates monthly payments on a VA loan, which is available to qualifying veterans and active-duty service members with no down payment and no ongoing mortgage insurance.
Standard amortization is used. VA loans have a one-time funding fee (1.25%–3.3%) that is usually rolled into the loan amount.
M = P × r × (1 + r)^n / ((1 + r)^n − 1)
P = Home price + Funding fee − Down paymentA $350,000 home at 0% down, 6.5% for 30 years yields a payment of about $2,212 before tax and insurance. Adding a 2.15% funding fee raises the loan to $357,525 and the payment by about $47.
Eligible veterans, active-duty service members, National Guard and Reserve members with enough qualifying service, and some surviving spouses. A Certificate of Eligibility from the VA is required.
Not for most VA purchases within the loan limit. Larger loans (jumbo VA) may need a down payment on the amount above the county limit.
No. VA loans have no monthly mortgage insurance, which usually makes payments lower than FHA or low-down-payment conventional loans.