VA Loan Calculator
Estimate a VA home-loan payment with the VA funding fee financed into the loan — zero down payment and no monthly mortgage insurance.
How it works
Base loan = price − down payment · Funding fee = fee% × base loan (added to the loan) · Total loan = base loan + funding fee · Payment = P&I on total loan
A VA loan lets eligible veterans and service members buy with no down payment and no monthly mortgage insurance — a major advantage over FHA and low-down conventional loans. In exchange the VA charges a one-time funding fee, typically 2.15% of the loan on a first purchase with nothing down and 3.3% on later uses, which is usually financed into the balance. A larger down payment lowers the funding-fee percentage, and borrowers receiving service-connected disability compensation are exempt from the fee entirely.
Worked example
On a $350,000 home with zero down, the base loan is $350,000. A 2.15% first-use funding fee adds $7,525, making a $357,525 loan. At 6.25% over 30 years that is about $2,201 a month — with no PMI to add on top, unlike a conventional low-down loan.
Frequently asked questions
Do VA loans really require no down payment?
Yes — qualified borrowers can finance 100% of a home’s value up to their entitlement, with no down payment and no monthly mortgage insurance. That is the core benefit of the program, though a down payment still reduces the funding fee and the monthly payment.
How much is the VA funding fee?
For a purchase with no down payment it is 2.15% of the loan on first use and 3.3% on later uses. Putting 5% or more down lowers it, and veterans with a service-connected disability rating are exempt. The fee is normally rolled into the loan rather than paid in cash.
Can I use a VA loan more than once?
Yes. VA entitlement can be restored and reused, and you can even hold more than one VA loan at a time in some cases. The funding fee is higher on subsequent uses unless you make a down payment or are exempt.
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This is an educational estimate, not financial advice. Lenders use their own rounding, fees, mortgage-insurance rules and credit terms — confirm exact figures with your lender or a licensed advisor.