VA Mortgage Calculator

VA loans are granted only to US veterans. Only serving personnel in the military, members of national guard squads, spouses of soldiers, and other defense force team members qualify for these mortgages. To remain eligible, the person must be discharged or released from the squad in good standing and must not be accused of any illegal or dishonorable activity. These loans are granted to reduce the cost burden on government servants. The purpose is to help those who served the country find affordable living places at easy installments and at an interest rate.

VA Funding Fee

The VA funding fee is a one-time charge paid when obtaining a VA loan. This fee helps keep the VA loan program running in case borrowers default.

VA Funding Fee Range

The funding fee typically ranges from 0% to 3.3% of the total loan amount.

The Exact Percentage Depends On:

• Your down payment amount
• Whether it is your first-time use
• Your military service history
• The type of property
• The purpose of the loan

When You Don’t Pay the VA Funding Fee

• If you have a service-related disability of 10% or more
• If you are the spouse of a qualifying veteran

Financing the VA Funding Fee

Most borrowers can roll the funding fee into the loan amount instead of paying it upfront. Other closing costs are typically paid at closing, though negotiation with the seller may change terms.

Standard VA Funding Fee Rates

Down Payment	First-Time Use	Second/Subsequent Use
Less than 5%	2.15%	3.3%
5% – 10%	1.5%	1.5%
10% or more	1.25%	1.25%

The higher the down payment, the lower the funding fee.

Other VA Funding Fee Scenarios

Interest Rate Reduction Refinance Loan (IRRRL)

Also called the VA streamline refinance, this option helps lower your interest rate or convert from an adjustable-rate mortgage to a fixed-rate loan. The funding fee is 0.50%.

Loan Assumptions

When another borrower takes over your existing VA loan, the funding fee is 0.50%.

Manufactured Home Loans

For manufactured or mobile homes not permanently attached to land, the funding fee is 1%.

Other Common Closing Costs

Loan Origination Fee

Covers administrative costs such as underwriting and paperwork processing.

Loan Discount Points

Optional fees paid to lower your interest rate.

• 1 discount point = 1% of the loan amount
• 2 discount points = 2% of the loan amount

Credit Report Fee

Non-refundable fee paid to check your credit history.

Appraisal Fee

Confirms the property's market value. Required and non-refundable.

Hazard Insurance & Property Taxes

Ensures home insurance is active and taxes are paid.

Title Insurance

Confirms property ownership and ensures no unpaid debts.

Recording Fee

Paid to the local government to record the property transaction.

Fees Buyers Usually Do Not Pay

• Brokerage fees
• Real estate agent commissions
• Title insurance (in many cases)

Benefits of VA Loans

• No Down Payment Required
• No Private Mortgage Insurance (PMI)
• Competitive Interest Rates
• Limited Closing Costs
• Flexible Qualification Guidelines
• Reusable Benefit
• Seller Concessions Allowed
• VA Appraisal Protection

Drawbacks of VA Loans

• Funding Fee Can Be Costly
• Primary Residence Only
• Stricter Property Requirements
• Seller Hesitation
• Limited Lender Expertise
• Additional Documentation Required

How Our VA Mortgage Calculator Can Help

Use our VA loan calculator to estimate total loan costs before making a decision.

• Enter your total home price
• Adjust down payment and loan terms
• Test different loan term scenarios
• Input your interest rate
• Select eligibility details (first-time use, etc.)
• Compare financing vs. paying funding fee upfront

Instantly view monthly payments and a full payment summary to accurately estimate your VA mortgage payment.