Enter home purchase price, down payment, mortgage rate, loan term, and VA funding fee percentage to calculate monthly VA mortgage payments and total loan amount.
How to use this calculator
Enter the home purchase price.
Enter your down payment percentage (VA loans allow 0% down payment for eligible service members).
Enter your interest rate and select a 15-year or 30-year mortgage term.
Adjust your VA Funding Fee percentage based on first-time vs. subsequent use and service branch.
Read your monthly principal and interest payment and total financed loan amount with zero monthly PMI.
Formula & method
VA Mortgage Funding Fee & Payment Equations
Base Loan = Price − Down Payment · VA Funding Fee = Base Loan × Fee% · Total Loan = Base Loan + Funding Fee · Monthly P&I = Total Loan × [ r(1+r)^n / ((1+r)^n − 1) ]
Standard first-use funding fee is 2.15% with 0% down. Monthly PMI is fixed at $0.
Example
$350,000 home with 0% down → Base Loan: $350,000 + $7,525 VA Fee (2.15%) = $357,525 Total Loan (@6.25% P&I = $2,201.76/mo, $0 PMI).
Key insights
VA loans backed by the U.S. Department of Veterans Affairs require zero down payment and zero monthly mortgage insurance (PMI).
The VA Funding Fee ranges from 1.25% to 3.3% depending on down payment and prior VA loan usage, and is typically rolled into the loan.
Veterans receiving VA disability compensation are completely exempt from paying the VA Funding Fee.
VA interest rates are historically 0.25% to 0.50% lower than conventional mortgage interest rates.
How to interpret your result
Total Monthly VA Payment
The monthly principal and interest payment for your financed VA loan balance.
VA Funding Fee
A standard one-time fee mandated by Congress to offset the taxpayer cost of the VA loan guaranty program.
Zero PMI Advantage
VA borrowers save $100–$300+ per month compared to conventional loans because no private mortgage insurance is charged.
Frequently asked questions
Do VA loans require monthly PMI?
No, VA loans do not require monthly mortgage insurance (PMI), saving veterans hundreds of dollars every month.
Who is exempt from the VA Funding Fee?
Veterans receiving VA disability compensation, surviving spouses of deceased veterans, and Purple Heart recipients are exempt from the funding fee.
Can the VA Funding Fee be rolled into the loan?
Yes, over 90% of VA borrowers choose to roll the funding fee directly into their total loan balance rather than paying cash at closing.
Related calculators
Mortgage Calculator — Estimate your monthly mortgage payment, total interest and total cost.
FHA Loan Calculator — Calculate FHA mortgage payments including 1.75% Upfront MIP and annual MIP fees.
Refinance Calculator — Calculate monthly mortgage payment savings, breakeven period, and lifetime interest savings from refinancing.