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Free VA Loan Calculator

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VA loans famously allow 0% down with no monthly mortgage insurance. Any down payment you do make lowers the loan — and at 5% or 10% down the funding fee itself drops (see the note under the fee field).

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VA funding fee

Picking a situation fills the fee field below; the field stays editable for reduced-rate cases (National Guard/Reserves and other categories differ slightly).

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Standard rates (2023 onward, regular military, purchase): 2.15% first use with 0–4.99% down, 3.3% on subsequent use; 1.5% at 5–9.99% down and 1.25% at 10%+ down (first use). Veterans receiving VA disability compensation are exempt — enter 0. Financed into the loan here, as most borrowers do.

Taxes & costs (escrow estimates)

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More options — extra payments
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Runs entirely in your browser — your numbers are never sent anywhere.

Monthly payment (principal & interest)
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Detail

Amortization schedule

A VA calculator built around the benefit's two defining numbers: 0% down, no monthly MIP

The VA loan's economics are unlike any other mortgage on this site. There is no monthly mortgage insurance at any down payment — the cost that replaces it is a one-time funding fee (2.15% for first use with little or nothing down, 3.3% on subsequent use, less with a bigger down payment, and waived entirely for veterans with a service-connected disability rating). Most borrowers finance the fee into the loan, which is how this calculator models it. The result is a payment structure that generic calculators get wrong in both directions: they either add PMI that VA never charges, or forget the funding fee that it does.

Loan = (price − down payment) × (1 + funding fee%)  ·  Monthly insurance = $0

Principal & interest uses the standard mortgage formula on the financed amount. Taxes and insurance are still escrowed on a VA loan — they are not mortgage insurance, and they are shown separately.

Worked example

A $350,000 home with 0% down: the funding fee at 2.15% is $7,525, financed into a $357,525 loan. At 6.5% for 30 years, principal & interest is about $2,260 a month — with no MIP line at all, where the same purchase through FHA would carry both an upfront premium and a monthly one.

How to use this calculator

  1. Enter the home price and your down payment — 0% is a legitimate default for VA.
  2. Pick your funding-fee situation in the dropdown; the fee percentage fills in (exempt = 0 if you receive VA disability compensation).
  3. Add taxes and insurance for the full monthly picture; VA loans escrow them like any other loan.
  4. Compare with the FHA calculator in Related Tools at the same price: the difference is the value of the VA benefit in dollars per month.

Entitlement, in one paragraph

VA loans are guaranteed by the US Department of Veterans Affairs and made by private lenders to eligible veterans, service members and certain surviving spouses. Your Certificate of Eligibility (COE) confirms your entitlement; with full entitlement there is no VA-set loan limit (lenders apply their own credit standards), while partial entitlement — usually from a prior VA loan still active — reintroduces county-based limits on the guaranty. This page estimates payments only; your lender and your COE settle eligibility.

Frequently asked questions

Do VA loans really have no mortgage insurance?
Correct — no monthly mortgage insurance at any down payment, which is unique among low-down-payment loans. The program is funded instead by the one-time VA funding fee (2.15% for first use with under 5% down, standard case), usually financed into the loan. This calculator shows the insurance row at $0 on purpose, so the difference from FHA is visible.
How much is the VA funding fee?
For purchase loans at the standard rates: 2.15% of the loan on first use with 0–4.99% down, 3.3% on subsequent use at that down payment; 1.5% (first use) at 5–9.99% down and 1.25% at 10% or more down. It is reduced for some borrowers and waived entirely for veterans receiving compensation for a service-connected disability (and certain surviving spouses). The dropdown on this page sets the common cases; the field stays editable.
Can I buy with 0% down and still be competitive?
Financially, yes — that is the benefit working as intended. The payment on a 0%-down VA loan is often lower than a 3.5%-down FHA loan at the same price, because VA has no monthly MIP. Whether a seller accepts the offer is a market question, not a loan-math question.
What is VA entitlement?
Entitlement is the amount the VA will guarantee on your loan — the promise that lets lenders offer 0% down. Your Certificate of Eligibility shows it. With full entitlement, the VA imposes no loan limit; if you have used entitlement on another VA loan that is still active, the remaining entitlement is measured against county loan limits. A lender pulls your COE during pre-approval.
Is the funding fee refundable if I pay the loan off early?
No. The funding fee is a one-time program cost, not a deposit, and paying the loan off early does not return it. Refinancing into a new VA loan (for example an IRRRL) charges a new, smaller funding fee rather than refunding the old one.
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Last updated: October 2026 · Published by CalcViso, a product of AllGuard IT

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