Calculate your VA payment
Change any input and the estimate updates immediately. The defaults show a $400,000 purchase with no down payment, first-time use of the benefit and an illustrative 6.5% rate.
Results are estimates for a fixed-rate VA purchase loan. Eligibility and entitlement are confirmed with your Certificate of Eligibility.
How each input works
Home price and down payment
VA loans allow 0% down for eligible borrowers with full entitlement, so the default is 0%. A down payment still matters: putting 5% or 10% down lowers the funding fee percentage as well as the loan amount.
First use and exemption
Tick first time using my VA benefit if you have never used a VA-guaranteed loan. With less than 5% down, the funding fee is 2.15% on first use and 3.3% after that. Tick exempt if your Certificate of Eligibility shows you are exempt, for example because you receive VA compensation for a service-connected disability. The fee then drops to $0.
Interest rate and term
Principal and interest are figured on the base loan plus the financed funding fee. The 6.5% default is only a placeholder. Use a current quote if you have one.
Property taxes, insurance and HOA
Enter the yearly tax bill and the yearly homeowners insurance premium; the calculator divides each by 12. On a purchase, use the tax the property will carry after the sale, not the seller's bill if a reassessment or exemption change is coming. HOA dues are entered monthly. These three items usually end up in the monthly payment through an escrow account, but they are your estimates, not quotes.
Extra principal per month
Any amount you add here goes straight to principal every month starting with the first payment. The results then show how much interest you avoid and how much sooner the loan is paid off compared with the scheduled payments. Leave it at 0 to see the standard schedule.
Program parameters this calculator uses
- Funding fee, first use: 2.15% with less than 5% down; 1.5% with 5% or more; 1.25% with 10% or more.
- Funding fee, subsequent use: 3.3% with less than 5% down; 1.5% with 5% or more; 1.25% with 10% or more.
- Exempt borrowers: 0%.
- The fee is financed into the loan amount.
- No monthly mortgage insurance at any LTV.
- No LTV warning, because VA allows financing up to 100% of the price for eligible borrowers.
Worked example: $400,000 with 0% down
Base loan: $400,000 with no down payment, an LTV of 100%.
Funding fee: first use, under 5% down = 2.15%. $400,000 × 2.15% = $8,600, financed. Total loan = $408,600.
Principal and interest: $408,600 at 6.5% for 30 years = $2,582.63 a month.
Mortgage insurance: none.
Taxes and insurance: $500.00 + $166.67.
Total: $2,582.63 + $500.00 + $166.67 = $3,249.30, shown as $3,249.
Interest: about $521,147 over 30 years. With $100 a month of extra principal, the calculator shows about $64,111 saved and a payoff 3 years and 1 month sooner.
The same purchase on subsequent use carries a 3.3% fee ($13,200), a $413,200 loan and $2,611.71 in principal and interest. With the exemption box ticked the loan stays at $400,000 and principal and interest drop to $2,528.27. With 5% down the fee is 1.5% of $380,000, or $5,700.
VA compared with FHA and conventional
On the same $400,000 home at the same illustrative 6.5% rate, the FHA calculator with 3.5% down shows $3,329 a month, and the conventional calculator with 3% down and a 700 score shows about $3,459, including $339.50 of PMI. The VA estimate of $3,249 is lower even with no money down, because there is no monthly mortgage insurance. The trade-off is the funding fee, $8,600 added to the balance on first use. Actual rates differ by program and borrower, so compare real quotes before you decide.
Financing the fee keeps cash in your pocket but adds interest over the life of the loan. If you can pay it at closing, or a seller credit can cover it, the loan stays at the base amount.
Using your VA benefit?
Tell LoanFight about the home and your service status and we can connect you with a lending partner who can confirm your entitlement, your fee and a real rate.
Tell Us About Your Deal →What the calculator includes, and what it doesn't
Included: principal and interest on the base loan plus the financed funding fee, taxes, insurance, HOA, LTV, total interest, payoff date and extra principal.
Not included: entitlement and county loan-limit calculations for borrowers with a VA loan still outstanding, residual-income and debt-to-income tests, closing costs and seller concessions, paying the funding fee in cash, and IRRRL or cash-out refinance fee rates.
VA calculator FAQs
What is the VA funding fee in 2026?
For purchase loans it is 2.15% on first use with less than 5% down, 3.3% on subsequent use with less than 5% down, 1.5% with 5% or more down and 1.25% with 10% or more down. Check the VA funding fee page for current rates.
Do VA loans have PMI?
No. VA loans have no monthly mortgage insurance at any down payment. The funding fee is a one-time charge that is usually financed.
Who is exempt from the VA funding fee?
Exemptions include veterans receiving VA compensation for a service-connected disability and certain other borrowers listed by VA. Your Certificate of Eligibility shows whether you are exempt.
Can I pay the funding fee in cash instead of financing it?
Yes. Paying it at closing keeps the loan at the base amount. The calculator assumes it is financed, which is the more common choice.
Why does a down payment lower the funding fee?
VA sets lower fee percentages at 5% and 10% down. On a $400,000 home, 5% down cuts the fee from $8,600 to $5,700 on first use.
Does this calculator check VA loan limits?
No. Borrowers with full entitlement have no VA loan limit, but those with entitlement tied up in another VA loan may. Your lender calculates it.
Sources
- VA: Funding fee and closing costs — current funding fee rates and exemptions.
- VA: Purchase loan — program overview, no PMI and no down payment requirement.
- VA: Loan limits — how entitlement affects borrowers with remaining entitlement.
Educational estimate only. LoanFight is not a lender, does not make credit decisions and does not set loan terms. The default interest rate is an illustration, not a rate quote. Your lending partner will provide actual figures on a Loan Estimate.