VA Loan Calculator 2026

What a VA loan monthly payment is made of

A VA loan payment is principal and interest plus property tax and homeowners insurance — the same four-line PITI as any other mortgage, minus the insurance line. Run the math top to bottom:

1. Down payment: optional. Many veterans go in at 0% down — that is the headline VA advantage.
2. Base loan amount = home price − down payment.
3. Funding fee = base loan × the tier rate. Most veterans finance it rather than pay cash, so the total loan = base loan × (1 + funding fee rate).
4. P&I: amortized over the term on the total loan (so the funding fee also accrues interest, just like FHA's UFMIP).
5. Property tax and homeowners insurance: annual amounts divided by 12.

What is not in the payment: no PMI (private mortgage insurance), no MIP (mortgage insurance premium), no monthly mortgage insurance. That omission is why the VA payment comes in below FHA's at the same rate.

The VA funding fee: how it moves with down payment and reuse

The funding fee is set by the VA and reset by annual Circular. For 2026 the tier table is:

The fee on a $350,000 base loan at 0% down (first use) is $7,525; at 10% down the base loan falls to $315,000 and the fee with it to $3,938. The fee can be paid in cash at closing, but rolling it into the loan preserves closing cash — at the cost of paying interest on it for the loan term. Rolling it in also pushes the loan above the home price: at 0% down the total loan is $357,525, a 102.15% LTV — the loan exceeds the home price because the funding fee is financed into it, a structure only VA permits (conventional and FHA both cap LTV below 100%), and one argument for paying the fee in cash.

Exemptions are written into the law. A 10%+ VA disability rating, surviving spouses of veterans who died on duty or from a service-connected condition, and certain Purple Heart recipients all pay no funding fee. The checkbox on the calculator captures that.

VA loan vs FHA loan vs conventional: the quick comparison

At the same price, rate, and term, the three paths differ in two places — the fee structure and the mortgage insurance.

• VA: one-time funding fee, no monthly insurance. Best for eligible veterans with 0% or low down.
• FHA: 1.75% UFMIP (Upfront Mortgage Insurance Premium) upfront, annual MIP monthly (0.55% on a 30-year, 3.5%-down loan, lasting the life of the loan under 10% down). Use the FHA loan calculator to compare.
• Conventional: no upfront fee, PMI monthly (0.3%–1.5%) that cancels at 78% LTV. Use the PMI calculator.

In this specific example, a $350,000 home at 6.25% for 30 years with 0% down produces a monthly P&I that ends up similar across the three options (~$2,201) — VA rolls its funding fee into the loan while FHA's 3.5% down shrinks its balance, so the differing principal amounts happen to land near the same payment; this is an artifact of these chosen inputs, not a general rule that the three loans cost the same. What differs is what rides on top of it: VA at 0% down costs $24,997 less than FHA at its 3.5% minimum over 30 years. FHA's monthly insurance adds $55,728 across the term, but its larger required down payment shrinks the loan and takes about $30,700 of that back — the net is the $24,997.

How to use this calculator

The page opens with a $350,000 home at 0% down, first use, so a full payment is on screen immediately:

1. Enter the Home price and Down payment. The 0% down default is intentional — VA's headline advantage.
2. Enter the Interest rate and choose Loan term (15- or 30-year). Get the rate from a real lender quote, not an advertised headline.
3. Choose First use or Subsequent use of the VA benefit. Each tier carries a different funding fee.
4. Open the optional Funding fee selector to switch between Roll into loan (default) and Pay in cash at closing, then check the exempt box if you have a 10%+ disability rating or are a qualifying surviving spouse.
5. The optional Taxes & insurance fields default to $4,200 and $1,800 a year — together about 1.7% of the home price, roughly the US median. Replace with your county tax rate and your quoted insurance premium.
6. Read results: Estimated total monthly payment broken into P&I / Tax / Insurance with a clearly labeled "$0.00 PMI / MIP" line, plus the Loan details card showing the down payment, base loan, funding fee amount, total loan, and LTV.

VA loan FAQ

How much is the VA funding fee?

The fee depends on whether it is your first or subsequent use of the VA benefit and how much you put down. First use with 0% down is 2.15%, dropping to 1.50% with 5% down and 1.25% with 10% or more. Subsequent use starts at 3.30% with 0% down. Veterans with a 10%+ disability rating are exempt entirely.

Does a VA loan require a down payment?

No. VA loans are one of the only mortgage programs that allow 0% down for qualified borrowers. Putting 10% down does lower your funding fee (to 1.25%), and it cuts the payment by $237.59 a month — $85,532 over 30 years. Whether that is worth $35,000 of cash depends on what the cash would otherwise earn: at a high-yield savings rate (about 4% today — an assumption used for this comparison, not a guaranteed return), those future savings are worth roughly $49,800 in present value — about $14,800 more than the down payment, so putting the money down wins. It only flips if the cash can reliably earn 7.2% or more, which is stock-market territory rather than a savings account.

Do VA loans have PMI?

No. The VA loan carries no monthly mortgage insurance. The funding fee serves a similar role — protecting the lender against default — but it is a one-time charge rather than a recurring one. On the $350,000 example above, that difference is worth $24,997 over 30 years versus FHA — VA at 0% down against FHA's 3.5% minimum.

What is the VA funding fee exemption?

Veterans receiving VA disability compensation with a 10%+ rating, surviving spouses of veterans who died on active duty or from a service-connected condition, and certain Purple Heart recipients are exempt from the funding fee. Use the calculator's checkbox to model this — your effective loan amount and P&I drop by the fee's contribution.

Can I use a VA loan more than once?

Yes, but the fee schedule is steeper on subsequent use (3.30% at 0% down versus 2.15%). The entitlement is restored once you pay off the prior VA loan, so many veterans reuse it for a forever home rather than moving up. There is no cap on how many times you can use it.

How much house can I qualify for with a VA loan?

There is no maximum VA loan amount — that limit was removed in 2020 — but lenders still qualify you on three independent tests: your debt-to-income ratio (typically 41% back-end), your residual income (the income left after every monthly obligation is paid — a hard floor, not a soft guideline; you can clear the 41% DTI and still be denied if residual income falls short), and your credit. Use a lender's preapproval for the final number; the VA calculator above tells you your monthly payment.

Is it harder to get a VA loan closed on time?

VA appraisals have a few extra requirements (Minimum Property Requirements, MPRs) that conventional loans do not, and they can delay a closing by a week or two if repairs are flagged. Lender processing times are otherwise comparable.

Sources: VA funding fee tier table is from VA Circular 26-24-13 (in effect for 2026), and the VA's published "VA home loans funding fee" page. Always confirm against the latest VA Circular on the VA.gov REO website before applying — fee schedules typically update once a year.

Disclaimer: This calculator provides informational estimates only and is not lending advice. VA loan eligibility, fees, and terms are governed by VA program rules and your lender's actual quote.