VA Loan Calculator
Use the calculator above to estimate your VA loan payment by entering your loan amount, interest rate, and term. The results show your principal & interest payment plus the VA funding fee (if applicable), helping you budget for a home purchase or refinance.
How VA Loans are calculated
VA loan payments use the same standard formula as other mortgages, but with key differences:
- No PMI: Unlike conventional loans, VA loans never charge private mortgage insurance
- Funding Fee: A one-time charge of 1.25%-3.3% of the loan amount (unless exempt)
- Basic Formula: (Loan Amount + Funding Fee) × [Interest Rate/12 × (1 + Interest Rate/12)^Term] ÷ [(1 + Interest Rate/12)^Term – 1]
| Input | Typical Range |
|---|---|
| Interest Rate | 5.5%-7.5% (2026) |
| Term | 15 or 30 years |
| Funding Fee | 1.25% (down payment ≥10%) to 3.3% (first use, no down payment) |
What affects your payment
- Credit Score: Scores below 620 may face higher rates
- Loan Term: 30-year loans have lower payments but higher total interest
- Down Payments: Optional, but reduce the funding fee percentage
- Property Taxes: Vary by location and affect escrow payments
- Disability Status: Veterans with service-connected disabilities are exempt from funding fees
Tips to lower your payment
- Compare lender rates: VA loan rates can vary 0.5%+ between lenders
- Make a down payment: 5% down reduces the funding fee to 1.5% (first-time use)
- Buy down the rate: Paying 1 discount point (1% of loan amount) typically lowers rate by 0.25%
- Refinance later: IRRL (VA streamline refinance) has reduced funding fees of 0.5%
- Choose a 30-year term: Cuts monthly payment by ~15% vs. 15-year terms
Common questions
Do VA loans have PMI?
No. VA loans never charge private mortgage insurance, even with 0% down. This is a key advantage over conventional loans.
Can I reuse my VA loan benefit?
Yes. After paying off a previous VA loan, you can restore your entitlement. The funding fee increases to 3.3% for subsequent uses with no down payment.
How accurate is this calculator?
It estimates principal/interest and funding fee. Your actual payment will include property taxes, homeowners insurance, and possibly HOA fees in escrow. Lenders may also have additional fees.