VA Loan Calculator

Your details

The purchase price (or appraised value for a refinance).
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VA loans allow 0 % down; any amount you put down reduces your loan and funding fee.
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Current VA purchase rates are often 0.25-0.5 % below conventional rates.
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IRRRL (Interest Rate Reduction Refinance Loan) carries the lowest funding fee at 0.50 %.
Surviving spouses of veterans who died in service or from a service-connected disability pay no funding fee. Since January 1, 2020 the funding fee rate is identical for Veterans, active-duty service members, and National Guard/Reserve members.
After first use, the fee is 3.30 % only when you put less than 5 % down. With 5 %+ down it is 1.50 % and with 10 %+ down it is 1.25 %, the same as first use.
Veterans with a VA disability rating of 10 % or more are exempt from the funding fee.
When financed, the funding fee is rolled into the loan amount, increasing your principal slightly.
Roughly 0.5-2.5 % of home value per year depending on state.
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Leave at 0 if no homeowners association applies.
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An extra payment applied to principal each month; accelerates payoff and cuts total interest.
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Monthly P&I
$2,259.80

Principal and interest payment (excludes taxes, insurance, HOA)

Total monthly payment (PITI)$2,651.47
VA funding fee$7,525.00
Total loan amount$357,525.00
Total interest paid$456,003.43
Total cost of loan$813,528.43
Funding fee rate2.15%
Loan amount$357,525.00
Total interest$456,003.43
Funding fee$7,525.00

Estimated payment: $2,651 / month (PITI)

  • Your principal and interest payment is $2,260 per month; with taxes, insurance, and HOA it comes to $2,651 per month.
  • The VA funding fee is $7,525 (2.15 %). VA loans still require no private mortgage insurance (PMI), which saves many borrowers more than the funding fee over time.
  • A 5 % down payment ($17,500) would lower your funding fee rate and reduce total interest paid.
  • Total interest over the life of this loan is $456,003. Extra monthly payments directly reduce this figure.

Next stepGet a Loan Estimate from at least two VA-approved lenders to compare rates, fees, and closing costs. Even a 0.25 % rate difference on a $350,000 loan saves about $17,000 in interest over 30 years.

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