VA Loan Calculator
Price a VA loan with its one distinctive charge — the funding fee, financed into the loan — and no monthly mortgage insurance. Funding-fee exemption is a switch away.
No monthly insurance — one funding fee instead
The VA program replaces monthly mortgage insurance with a single funding fee, charged once and usually financed into the loan. For a first use with zero down it is 2.15% of the loan; it falls with a down payment, rises on subsequent use, and is waived entirely for veterans receiving compensation for a service-connected disability.
Loan = (price − down payment) + funding fee · Payment = standard amortization on that loan
Example: a $350,000 home, zero down, first use: funding fee $7,525 financed, total loan $357,525. At 6% for 30 years the payment is about $2,143.66 — with no monthly insurance line at all, unlike an equivalent FHA loan.
Entitlement, briefly
Your Certificate of Eligibility establishes the VA's guarantee to the lender — the reason zero-down loans at competitive rates exist. This calculator prices the loan mechanics; your entitlement amount and any prior use are matters for your lender and the VA.
How this is calculated
Funding fee = (price − down payment) × the fee percentage you enter, added to the loan (set the percentage to match your use: 2.15% first use at zero down, lower with 5–10%+ down, higher for subsequent use; the exemption switch zeroes it). Principal and interest then amortize that total at your rate and term. No monthly insurance is added, per VA structure.
Frequently asked questions
Who is exempt from the VA funding fee?
Veterans receiving VA compensation for a service-connected disability, and certain surviving spouses, are exempt. If you have a disability claim pending at closing, ask your lender about a refund if the rating is awarded retroactively.
Is zero down actually wise?
It preserves cash and the VA rate is usually competitive, but you start with essentially no equity beyond appreciation — selling within a few years can mean bringing money to closing. It is a tool, not a default.
Can the seller pay the funding fee?
Seller concessions can cover it within VA limits, or it can be paid in cash. Financing it is the most common choice, and the one this calculator assumes.
Does the funding fee change if I have used a VA loan before?
Yes — subsequent use carries a higher fee (3.3% at zero down) unless the disability exemption applies. Enter the percentage that matches your situation; the fee field is yours to set.
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