Use this VA Loan Calculator to estimate your monthly mortgage principal and interest payment, along with the monthly impact of the VA funding fee. Enter the home price, interest rate, loan term, funding fee percentage, and whether you qualify for a fee exemption.
The calculator estimates how these inputs affect your monthly payment, helping you compare potential borrowing costs before applying.
Understand the VA Funding Fee
Many VA-backed home loans include a one-time funding fee that helps support the VA loan program. The fee depends on factors such as loan type, down payment, prior use of the VA loan benefit, and eligibility for an exemption.
Some eligible borrowers do not have to pay this fee. Check the official VA funding fee and closing costs guidance to understand which rules apply to you.
Compare Interest Rates and Loan Terms
Your interest rate and repayment term affect the principal-and-interest portion of your mortgage payment. A lower interest rate can reduce monthly payments, while a longer term may make payments smaller but increase the total interest paid over time. Try different rates and terms to see how your estimated costs change.
Understand What Your Monthly Payment Includes
This calculator combines estimated principal and interest with an evenly distributed portion of the VA funding fee. It does not include property taxes, homeowners insurance, HOA fees, or other recurring housing expenses.
If the funding fee is financed into your mortgage, it becomes part of the loan balance rather than a separate monthly charge. For a more complete housing estimate, use our mortgage calculator with taxes and insurance.
Check Your VA Loan Eligibility
VA-backed loans are available to eligible service members, veterans, and certain surviving spouses, subject to program requirements. Eligibility, funding fee exemptions, and the fee rate depend on your circumstances.
Review the official VA guidance and speak with a participating lender to confirm your eligibility and actual loan costs before making a decision.
Frequently Asked Questions
Disclaimer: This calculator provides estimates for informational and educational purposes only, not financial, tax, legal, or professional advice. Results are based on the information entered and may differ from actual costs, payments, rates, fees, or eligibility. Verify details with the relevant lender, financial professional, or official source before making financial decisions.
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Disclaimer
MortgageRatesChecker provides educational mortgage calculators, loan tools, and financial guides designed to help you better understand home financing. Our content is researched, fact-checked, and regularly updated in accordance with our Editorial Policy, using trusted information from our Data Sources and transparent methodologies explained in How We Calculate. Learn more about our commitment to accuracy on Why Trust Us. This content is provided for informational purposes only and should not be considered financial, legal, tax, investment, or mortgage advice. Mortgage rates, lending requirements, loan programs, and regulations may change without notice. Before making any borrowing, refinancing, or home-buying decision, consult your Bank or Mortgage Lender, licensed financial advisor, tax professional, or attorney based on your individual circumstances. MortgageRatesChecker is an independent educational resource and is not a lender, mortgage broker, financial advisor, or government agency. Please review our Affiliate Disclosure, Advertiser Disclosure, Disclaimer, and Terms & Conditions for additional information.
