VA Loan Calculator
VA loans let qualified veterans buy with 0% down and no mortgage insurance — but the VA funding fee (the VA's one-time upfront fee) takes the place of PMI (private mortgage insurance). The rate depends on whether you're using your VA entitlement for the first time, how much you put down, and whether you're exempt because of a service-connected disability rating.
Purchase price of the home.
VA allows 0% down. Higher down payment lowers the funding fee.
Annual rate.
Subsequent use carries a higher funding fee if down payment is below 5%.
Waives the fee if you're receiving VA disability compensation (or are otherwise exempt). See the VA funding fee guide for the full list.
Annual ÷ 12.
Hazard + wind + flood, ÷ 12.
30-yr VA at 6.25% · LTV (loan-to-value) 100.0%
$2,275 / month
- Principal & Interest
- $1,887
- Escrow (T+I)
- $388
- Base loan amount
- $300,000
- Funding fee (2.15%)
- $6,450
- Total loan amount
- $306,450
- Down payment
- $0
- Total interest
- $372,818
Free during pilot
How VA loans work
We compute the base loan amount as home price minus down payment, then add the VA funding fee (the VA's one-time upfront fee, rolled into the loan balance, not paid at closing) and amortize at your stated rate over the chosen term. There is no PMI on a VA loan.
VA funding fee — 2026 purchase schedule
| Down payment | First use | Subsequent use |
|---|---|---|
| < 5% | 2.15% | 3.30% |
| 5% – 9.99% | 1.50% | 1.50% |
| ≥ 10% | 1.25% | 1.25% |
Veterans receiving VA disability compensation for a service-connected condition, Purple Heart recipients, and certain surviving spouses are exempt — the funding fee is waived entirely. Check the disability exemption box to model the payment without the funding fee.
Frequently asked questions
Do VA loans have mortgage insurance?
No. One of the main advantages of a VA loan is that there is no PMI (private mortgage insurance) — even with 0% down. Instead of monthly insurance, the VA charges a one-time upfront funding fee that is typically rolled into the loan balance. This calculator estimates your payment with that fee included.
What determines my VA funding fee rate?
Three things: whether this is your first time using your VA loan benefit, how much you put down, and whether you have a qualifying service-connected disability. First-time use with no down payment carries a 2.15% fee; subsequent use rises to 3.30%. Putting 5% or more down lowers the rate. Veterans currently receiving VA disability compensation for a service-connected condition are exempt from the fee entirely, as are certain surviving spouses and Purple Heart recipients. The calculator applies the 2026 VA purchase-loan schedule — cash-out and IRRRL (VA refinance) loans use different rates.
What does the disability exemption checkbox do?
Checking it removes the VA funding fee from the estimated payment entirely. This models the exemption, which applies to veterans currently receiving VA disability compensation for a service-connected condition, and to certain surviving spouses and Purple Heart recipients. Whether you actually qualify depends on your VA records — this calculator is an estimate for planning purposes, not a determination of your eligibility.
Can I use a VA loan with 0% down?
VA loans allow 0% down for eligible veterans and surviving spouses — you do not need a down payment to qualify for the program. However, a larger down payment does reduce the funding fee: putting down 5% drops the first-use rate from 2.15% to 1.50%, and 10% or more drops it to 1.25%. Whether you qualify for a VA loan requires a Certificate of Eligibility from the VA and lender approval based on credit and income.
Estimates only — not VA eligibility or a lending decision. Funding fee rates are the VA's 2026 schedule for purchase loans; cash-out, IRRRL, and manufactured-home loans have different fees. The disability exemption applies to veterans receiving VA disability compensation for a service-connected condition (and to certain surviving spouses and Purple Heart recipients). Eligibility for a VA loan also requires a Certificate of Eligibility and lender approval based on credit and income. Property tax and insurance are inputs you supply. Methodology last reviewed: May 26, 2026.