VA Loan Calculator

This tool estimates a VA loan payment. Because VA loans require no monthly mortgage insurance, the payment is principal and interest plus the taxes and insurance escrow, with no PMI line. It also adds the one-time VA funding fee to the loan when it applies, since most buyers finance it into the balance rather than paying it in cash at closing.

The funding fee depends on whether it is your first use of the benefit and your down payment. First-time use with zero down is commonly 2.15 percent of the loan, and it drops as your down payment rises. Veterans who receive VA disability compensation are exempt from the funding fee entirely, which the calculator lets you toggle so exempt buyers see their true payment.

For example, on a $400,000 home with zero down and a 2.15 percent funding fee financed in, the loan is about $408,600. With no monthly mortgage insurance, principal and interest near a 6.5 percent rate runs roughly $2,583 a month before taxes and insurance. A funding-fee-exempt disabled veteran on the same purchase finances only $400,000, lowering both the balance and the payment.

VA loans are a primary-residence benefit for eligible veterans, active-duty service members, and many surviving spouses. With full entitlement there is no VA loan limit, so your buying power is set by what a lender approves. In South Florida, remember that a VA loan can only be used on a condo in a VA-approved building, so confirm approval before you make an offer.