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VA loan calculator
VA loans need no down payment and no monthly mortgage insurance, but most borrowers pay a one-time funding fee. It's calculated from VA's current table and rolled into the loan.
Example: a $350,000 home with $0 down, first-time use: the 2.15% funding fee ($7,525) is financed, making a $357,525 loan. At 6% over 30 years that is $2,144 principal and interest, about $2,644 with taxes and insurance.
$2,643.54
estimated monthly payment, incl. taxes & insurance
- Amount financed
- $357,525
- Total interest
- $414,150
- Principal & interest
- $2,143.54
- Funding fee (2.15%)
- $7,525
Same loan, different terms
| Term | Payment | Total interest |
|---|---|---|
| 15 years | $3,517.00 | $185,535 |
| 20 years | $3,061.42 | $257,216 |
| 25 years | $2,803.54 | $333,537 |
| 30 years | $2,643.54 | $414,150 |
Already have this loan? See what extra payments save in the payoff calculator.
Amortization schedule
| Year | Interest | Principal | Extra | Balance |
|---|---|---|---|---|
| 1 | $21,332 | $4,390 | $0 | $353,135 |
| 2 | $21,061 | $4,661 | $0 | $348,473 |
| 3 | $20,774 | $4,949 | $0 | $343,525 |
| 4 | $20,469 | $5,254 | $0 | $338,271 |
| 5 | $20,144 | $5,578 | $0 | $332,693 |
| 6 | $19,800 | $5,922 | $0 | $326,771 |
| 7 | $19,435 | $6,287 | $0 | $320,483 |
| 8 | $19,047 | $6,675 | $0 | $313,808 |
| 9 | $18,636 | $7,087 | $0 | $306,721 |
| 10 | $18,199 | $7,524 | $0 | $299,197 |
| 11 | $17,735 | $7,988 | $0 | $291,209 |
| 12 | $17,242 | $8,481 | $0 | $282,729 |
| 13 | $16,719 | $9,004 | $0 | $273,725 |
| 14 | $16,163 | $9,559 | $0 | $264,166 |
| 15 | $15,574 | $10,149 | $0 | $254,017 |
| 16 | $14,948 | $10,775 | $0 | $243,243 |
| 17 | $14,283 | $11,439 | $0 | $231,804 |
| 18 | $13,578 | $12,145 | $0 | $219,659 |
| 19 | $12,829 | $12,894 | $0 | $206,765 |
| 20 | $12,034 | $13,689 | $0 | $193,076 |
| 21 | $11,189 | $14,533 | $0 | $178,543 |
| 22 | $10,293 | $15,430 | $0 | $163,113 |
| 23 | $9,341 | $16,381 | $0 | $146,732 |
| 24 | $8,331 | $17,392 | $0 | $129,340 |
| 25 | $7,258 | $18,464 | $0 | $110,876 |
| 26 | $6,119 | $19,603 | $0 | $91,273 |
| 27 | $4,910 | $20,812 | $0 | $70,460 |
| 28 | $3,627 | $22,096 | $0 | $48,364 |
| 29 | $2,264 | $23,459 | $0 | $24,906 |
| 30 | $817 | $24,906 | $0 | $0 |
Ask the trail guide about this plan
Get a plain-English read of the numbers above: what's driving the savings, what to check with your lender, and trade-offs to weigh. Written by AI from your inputs, so double-check anything important.
VA funding fee for purchase loans
For first use: 2.15% with less than 5% down, 1.5% with 5% to under 10% down, and 1.25% with 10% or more. For subsequent use the 0%-down fee is 3.3% (the other tiers are the same). Veterans receiving VA disability compensation, and some others, are exempt. Tick the box to remove the fee.
No PMI, but taxes and insurance still count
VA loans don't charge monthly mortgage insurance, which is often the biggest saving over FHA or low-down conventional loans. Property tax and homeowners insurance still go into escrow and are added to the monthly payment shown.
Questions people ask
How much is the VA funding fee?
For a first-time purchase loan it is 2.15% of the loan with less than 5% down, 1.5% with 5% or more, and 1.25% with 10% or more. Subsequent use with under 5% down is 3.3%.
Who is exempt from the VA funding fee?
Veterans receiving VA compensation for a service-connected disability, surviving spouses receiving Dependency and Indemnity Compensation, Purple Heart recipients on active duty, and some others. Your Certificate of Eligibility shows your status.
Do VA loans have PMI?
No. VA loans have no monthly mortgage insurance at any down payment, only the one-time funding fee.
Can I pay off a VA loan early?
Yes. VA loans have no prepayment penalty. Use the mortgage payoff calculator to see what extra payments save.
Sources
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