VA Loan Calculator
Estimate your VA home loan monthly payment, cash to close, and view amortization details including funding fee, property taxes, and insurance.
Last reviewed: October 2026
Quick Estimate
Payment Breakdown
Loan Summary
Cash to Close
Amortization
Important Disclaimers:
- Manual mode: taxes/insurance are user estimates
- Funding fee exemption based on disability rating only
- Actual VA compensation status determines true exemption
- Rates and terms subject to lender approval
- For estimation purposes only - consult VA-approved lender
How VA Loans Work
VA home loans are mortgage loans guaranteed by the U.S. Department of Veterans Affairs. They are available to eligible veterans, active-duty service members, and certain surviving spouses. VA loans typically require no down payment and no private mortgage insurance (PMI). Learn more about eligibility and benefits at VA.gov Home Loans.
VA Loan Eligibility
To use a VA loan, you must obtain a Certificate of Eligibility (COE) from the VA. Eligibility generally requires one of the following:
- 90 consecutive days of active-duty service during wartime
- 181 consecutive days of active-duty service during peacetime
- 6 or more years of service in the National Guard or Reserves
- Service-connected disability discharge
- Surviving spouse of a veteran who died in service or from a service-connected disability
Check your eligibility and apply for a COE at VA.gov Eligibility.
How Your Monthly Payment Is Calculated
This calculator uses the standard amortization formula to determine your monthly principal and interest (P&I) payment. Your loan amount — home price minus down payment, plus the VA funding fee if financed — is combined with your interest rate and loan term to compute the base monthly payment.
The formula distributes your total loan into equal monthly payments over the loan term (typically 15 or 30 years). Each payment includes both principal repayment and interest charges. In the early years of a loan, most of each payment goes toward interest. Over time, an increasing share goes to principal. The amortization schedule in this calculator shows this breakdown year by year.
What's Included in Your Monthly Payment
Your total monthly housing payment includes more than principal and interest. This calculator accounts for:
- Principal & Interest (P&I) — the core loan payment
- Property Taxes — annual taxes divided into monthly amounts, varying by location
- Homeowners Insurance — required coverage, paid monthly
- HOA Fees — if applicable to your property
- Flood & Other Insurance — additional coverage if needed
Unlike conventional loans, VA loans do not require private mortgage insurance (PMI), even with no down payment. This is one of the most significant cost advantages of a VA loan.
VA Funding Fee Rates
Most VA purchase loans require a one-time funding fee. The rate depends on your down payment amount and whether this is your first or subsequent VA loan use. Rates effective April 7, 2023, per VA.gov:
| Down Payment | First Use | Subsequent Use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% or more | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
These rates apply to veterans, active-duty service members, and National Guard and Reserve members. Rates for other loan types (refinance, NADL) differ. See the full VA funding fee schedule for all loan types.
Funding Fee Exemptions
The following individuals are generally exempt from the VA funding fee:
- Veterans receiving VA compensation for a service-connected disability
- Veterans eligible for VA compensation but receiving retirement or active-duty pay instead
- Surviving spouses receiving Dependency and Indemnity Compensation (DIC)
- Active-duty service members who provide evidence of receiving a Purple Heart on or before the loan closing date
- Service members with a proposed or memorandum rating before the loan closing date, indicating eligibility for compensation from a pre-discharge claim
Not sure of your combined disability rating? Use our VA Disability Calculator to calculate your combined rating.
Down Payment and Interest Rate
VA loans do not require a down payment, but making one can lower your monthly payment, reduce the total interest paid over the life of the loan, and decrease the VA funding fee. A down payment of 5% or more reduces the funding fee from 2.15% to 1.50% on first use, and a down payment of 10% or more lowers it to 1.25%.
Your interest rate is set by your lender, not the VA. VA loans often offer competitive rates compared to conventional loans, but rates vary by lender, credit profile, and market conditions. Even small differences in rate significantly affect total interest paid — on a 30-year $300,000 loan, each 0.25% increase in rate adds roughly $15,000 in total interest.
Property Taxes and Insurance
This calculator allows you to enter estimated property tax and homeowners insurance amounts. These values vary by location and are not set by the VA. Property tax rates differ by state and county. Some states offer property tax exemptions for disabled veterans — for example, Texas offers a total property tax exemption for qualifying 100% disabled veterans. Check your state's veterans affairs office for details. Insurance costs depend on the property, coverage level, and provider.
Frequently Asked Questions
Do VA loans require a down payment?
No. One of the primary benefits of a VA loan is the ability to purchase a home with no down payment. However, a down payment can reduce or eliminate the VA funding fee and lower your monthly payment.
Do VA loans have PMI?
No. VA loans do not require private mortgage insurance (PMI), even with no down payment. This is a significant cost savings compared to conventional loans.
Who is exempt from the VA funding fee?
Veterans receiving VA disability compensation, Purple Heart recipients on active duty, and surviving spouses receiving Dependency and Indemnity Compensation (DIC) are generally exempt from the funding fee.
How accurate is this calculator?
This calculator provides estimates based on the values you enter. Actual loan terms, interest rates, property taxes, and insurance costs will be determined by your lender and local authorities. Use this tool for planning purposes.
Methodology and Assumptions
This calculator uses the standard fixed-rate amortization formula to compute monthly principal and interest payments. The VA funding fee rates displayed are sourced from VA.gov (effective April 7, 2023). The calculator assumes a fixed interest rate for the full loan term.
Property taxes, homeowners insurance, HOA fees, and other costs are user-entered estimates and are not sourced from any external data. The funding fee exemption in this calculator applies when any disability rating is entered; actual exemption eligibility is determined by the VA based on your compensation status. This tool is for educational planning purposes only.
Disclaimer: This calculator is an educational estimation tool provided by Fireguard. Fireguard is not a lender and is not the Department of Veterans Affairs. All calculations are estimates based on user-provided inputs. Actual loan terms, rates, fees, and costs will vary. Consult a VA-approved lender for official loan details. Verify current VA loan information at VA.gov.