VA Loan Calculator
The VA Loan Calculator helps veterans, service members, and eligible spouses calculate their VA home loan costs, including:
- Monthly payments
- VA funding fee
- Total loan costs
- Amortization schedule
How to Use
- Select your service eligibility status
- Choose the loan purpose (Purchase, Refinance, or Cash-Out)
- Indicate if this is your first VA loan use
- Enter the loan amount and down payment (if any)
- Input the interest rate and select loan term
- Check if you’re exempt from the funding fee
- Click “Calculate VA Loan” to see results
VA Funding Fee Rates
Purchase & Construction Loans
| Down Payment | First Use | Subsequent Use |
|---|---|---|
| Less than 5% | 2.30% | 3.60% |
| 5% to 9.99% | 1.65% | 1.65% |
| 10% or more | 1.40% | 1.40% |
Cash-Out Refinance
- First Use: 2.30%
- Subsequent Use: 3.60%
IRRRL (Interest Rate Reduction)
- All Uses: 0.50%
Funding Fee Exemptions
You may be exempt from the VA funding fee if you:
- Are receiving VA disability compensation
- Are a surviving spouse of a veteran who died in service
- Are a Purple Heart recipient
- Are a service member with a proposed or memorandum rating
- Are a service member on active duty who received a Purple Heart
Benefits of VA Loans
- No down payment required (in most cases)
- No private mortgage insurance (PMI)
- Competitive interest rates
- Limited closing costs
- No prepayment penalties
- Available for:
- Home purchases
- Construction
- Refinancing
- Energy-efficient improvements
Tips
- The funding fee can be financed into the loan amount
- A down payment can help reduce your funding fee
- VA loans often have lower interest rates than conventional loans
- Consider your service eligibility status for accurate calculations
- Check current VA loan limits for your county