VA Loan Calculator — Monthly Payment with Funding Fee
A VA loan is a mortgage guaranteed by the Department of Veterans Affairs, available to eligible veterans, service members, and surviving spouses with no required down payment and no private mortgage insurance (PMI). This calculator computes your estimated monthly payment and the VA funding fee — a one-time charge that can be financed into the loan.
%
%
years
Loan use
Service type
Funding fee exempt?
Principal + interest only — add property tax, insurance, and HOA separately
$813,528
total costPrincipal
43%
Total interest
56.1%
VA funding fee
0.9%
- 1
Down payment
350,000 × 0% = 0 - 2
Base loan amount
350,000 − 0 = 350,000 - 3
VA funding fee
350,000 × 2.15% = 7,525Financed into the loan rather than paid at closing. - 4
Total loan (with fee financed)
350,000 + 7,525 = 357,525 - 5
Monthly payment
357,525 × 0.005417 × 6.9918 ÷ (6.9918 − 1) = 2,259.80
How does this calculator work?
Monthly payment = L × r(1+r)ⁿ / ((1+r)ⁿ−1), where L = (price − down) + VA funding fee (financed). The funding fee (≈2.15–3.3% for first/subsequent use with 0% down) can be eliminated if you have 10%+ VA disability. No PMI required. Rates are 2024 estimates — verify at VA.gov.
Formula
How this is calculated
A VA loan requires no private mortgage insurance and permits a 0% down payment, which lowers the barrier to homeownership for veterans. In place of PMI, the VA charges a one-time funding fee — a percentage of the base loan amount — that goes into a government fund covering VA loan defaults. The rate depends on whether this is your first or subsequent VA loan use, whether you serve in the regular military or Reserves/National Guard, and how large a down payment you make. Veterans receiving VA disability compensation of 10% or more are typically exempt from the funding fee.
The funding fee is usually financed into the loan (added to the principal) rather than paid at closing, so the loan amount used for the monthly payment calculation is the home purchase price minus any down payment, plus the fee. The monthly payment uses the standard fixed-rate amortisation formula: P × r(1+r)ⁿ / ((1+r)ⁿ−1), where r is the monthly rate and n is the total number of months.
Funding fee rates shown are approximate figures for 2024 and are updated periodically by the VA — always confirm the current rate at VA.gov before closing. This calculator covers principal and interest only; property taxes, homeowner's insurance, and any HOA dues are separate costs not included here.
Frequently asked questions
No. VA loans permit 100% financing (0% down payment), which is one of their key benefits. However, making a down payment of 5% or more reduces the VA funding fee, and a down payment of 10% or more reduces it further. A larger down payment also lowers the loan amount and monthly payment.
Veterans receiving VA disability compensation for a service-connected disability are exempt, as are surviving spouses of veterans who died in service or from a service-connected disability. Purple Heart recipients on active duty are also exempt. Select "Yes — 10%+ service-connected disability" to remove the fee from this calculation.
Yes. The VA allows borrowers to add the funding fee to the loan balance rather than pay it upfront at closing. This calculator assumes the fee is financed, which is the most common approach. Financing the fee increases the loan amount and thus the monthly payment and total interest paid over the life of the loan.
Also known as
TG we-Calculate Editorial Team. (2026). VA Loan Calculator — Monthly Payment with Funding Fee [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/va-loan-calculator
TG we-Calculate Editorial Team. "VA Loan Calculator — Monthly Payment with Funding Fee." TG we-Calculate. 2026. https://we-calculate.com/calculator/va-loan-calculator.
TG we-Calculate Editorial Team, "VA Loan Calculator — Monthly Payment with Funding Fee," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/va-loan-calculator
@misc{wecalculate_va_loan_calculator, title = {VA Loan Calculator — Monthly Payment with Funding Fee}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/va-loan-calculator}}, year = {2026}, note = {TG we-Calculate} }
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