VA loan calculator

VA loan payment with the VA funding fee from the current table (first or later use, by down payment), the financed loan amount, taxes and insurance.

Updated 27 September 2026Checked against 6 worked examples

Total monthly payment

Shown to 2 decimal places, half-even

Principal and interest: $2,515.82
Property tax per month: $366.67
Insurance per month: $125.00
Funding fee rate: 2.15%
VA funding fee: $8,600.00
Loan before the fee: $400,000.00
Total loan amount: $408,600.00
Down payment: $0.00
Down payment and fee paid in cash: $0.00
Loan-to-value with the fee: 102.15%
Total interest: $497,095.37
Interest paid on the financed fee: $10,462.60

Property tax and insurance are held at today's amounts; in practice both usually rise over time.

The 2.15% funding fee is $8,600.00. Financed, it raises the loan to $408,600.00 and costs $10,462.60 in interest over the term; the monthly payment is $3,007.49.

Monthly payment

Principal and interest83.7%Property tax12.2%Insurance4.2%

Funding fee on this price, first use

Loan balance

Amortization schedule (360 rows)

Month	Principal + interest	Principal	Interest	Balance
1	$2,515.82	$387.70	$2,128.12	$408,212.30
2	$2,515.82	$389.71	$2,126.11	$407,822.59
3	$2,515.82	$391.74	$2,124.08	$407,430.85
4	$2,515.82	$393.78	$2,122.04	$407,037.06
5	$2,515.82	$395.84	$2,119.98	$406,641.22
6	$2,515.82	$397.90	$2,117.92	$406,243.33
7	$2,515.82	$399.97	$2,115.85	$405,843.36
8	$2,515.82	$402.05	$2,113.77	$405,441.30
9	$2,515.82	$404.15	$2,111.67	$405,037.16
10	$2,515.82	$406.25	$2,109.57	$404,630.91
11	$2,515.82	$408.37	$2,107.45	$404,222.54
12	$2,515.82	$410.49	$2,105.33	$403,812.04

How it's calculated S

Loan before the fee
$L = 400{,}000.00 - 0.00 = 400{,}000.00\quad (0.00\%\ \text{down})$
Funding fee
$F = 2.15\% \times 400{,}000.00 = 8{,}600.00$
VA table effective April 7, 2023: less than 5% down, first use.
Total loan
$T = 400{,}000.00 + 8{,}600.00 = 408{,}600.00$
The fee is financed; on a purchase it is the only closing cost VA lets you add to the loan.
Principal and interest
$\frac{408{,}600.00 \times r \times (1+r)^{360}}{(1+r)^{360} - 1} = 2{,}515.82,\quad r = \frac{6.25}{1200}$
Total monthly payment
$2{,}515.82 + 366.67 + 125.00 + 0.00 = 3{,}007.49$
No monthly mortgage insurance is added on a VA loan.

About the VA loan calculator

A VA purchase loan needs no down payment and no monthly mortgage insurance; most borrowers pay a one-time funding fee instead. The fee is a percentage of the loan from VA's table: 2.15% with less than 5% down on first use and 3.3% on later use, falling to 1.5% with 5% down and 1.25% with 10% down. It can be added to the loan, and veterans receiving VA disability compensation, among others, pay nothing.

With the defaults, a 400,000 home bought with nothing down on first use carries a funding fee of 8,600. Financed, it takes the loan to 408,600; principal and interest at 6.25% over 30 years are 2,515.82, or 3,007.49 a month with property tax and insurance.

Veterans with full entitlement have no VA loan limit, as long as they can afford the loan and the appraisal supports the price. With partial entitlement the lender may ask for a down payment, which this calculator does not work out.

Worked examples

400k, nothing down, first use

Home price: 400,000
Enter down payment as: Percent of price
Down payment: 0%
VA loan use: First use
Exempt from the funding fee: no
Add the funding fee to the loan: yes
Interest rate (per year): 6.25%
Loan term: 30 years
Property tax (per year, of home price): 1.1%
Homeowners insurance (per year): 1500
HOA dues (per month): 0

Funding fee rate: 2.15%
VA funding fee: 8,600.00
Total loan amount: 408,600.00
Principal and interest: 2,515.82
Total monthly payment: 3,007.49
Interest paid on the financed fee: 10,462.60

Checked against: VA funding fee table (2.15%, first use, under 5% down); Python decimal annuity on 408,600 at 6.25%/12 over 360 months; fee interest = 497,095.37 − 486,632.77

Later use, nothing down

Home price: 400,000
Enter down payment as: Percent of price
Down payment: 0%
VA loan use: Used before
Interest rate (per year): 6.25%
Loan term: 30 years
Property tax (per year, of home price): 1.1%
Homeowners insurance (per year): 1500
HOA dues (per month): 0

Funding fee rate: 3.30%
VA funding fee: 13,200.00
Total loan amount: 413,200.00
Principal and interest: 2,544.14

Checked against: VA funding fee table (3.3% after first use, under 5% down); Python decimal annuity

Exactly 5% down on later use

Home price: 350,000
Enter down payment as: Percent of price
Down payment: 5%
VA loan use: Used before
Interest rate (per year): 6%
Loan term: 30 years
Property tax (per year, of home price): 1.1%
Homeowners insurance (per year): 1500
HOA dues (per month): 0

Funding fee rate: 1.50%
VA funding fee: 4,987.50
Total loan amount: 337,487.50
Principal and interest: 2,023.41

Checked against: VA funding fee table: '5% or more' is 1.5% for first and later use; 1.5% × 332,500 = 4,987.50; Python decimal annuity

10% down on a 15-year loan

Home price: 300,000
Enter down payment as: Amount
Down payment: 30,000
VA loan use: First use
Interest rate (per year): 5.5%
Loan term: 15 years
Property tax (per year, of home price): 1.1%
Homeowners insurance (per year): 1500
HOA dues (per month): 0

Funding fee rate: 1.25%
VA funding fee: 3,375.00
Total loan amount: 273,375.00
Principal and interest: 2,233.70
Total monthly payment: 2,633.70

Checked against: VA funding fee table (1.25% at 10% or more down); Python decimal annuity on 273,375 at 5.5%/12 over 180 months

Questions

How much is the VA funding fee in 2026?

For a purchase loan it is 2.15% of the loan with less than 5% down on first use, and 3.3% on any later use. With 5% or more down it is 1.5%, and with 10% or more 1.25%, whatever the use. These rates have applied since April 7, 2023 (VA). On a 400,000 loan with nothing down, first use costs 8,600 and later use 13,200.

Who is exempt from the VA funding fee?

You pay no fee if you receive VA compensation for a service-connected disability, or are eligible for it but draw retirement or active-duty pay instead. Surviving spouses receiving Dependency and Indemnity Compensation are exempt, as are service members with a proposed or memorandum rating before closing and active-duty members who received a Purple Heart. The exemption saves 8,600 on a 400,000 first-use loan.

Can you roll the VA funding fee into the loan?

Yes. On a purchase loan the funding fee is the only cost you can finance; you can also pay it in cash at closing (VA). Financing the 8,600 fee on a 400,000 loan at 6.25% for 30 years adds 52.95 to the monthly payment and 10,462.60 of interest over the term.

Does a down payment lower the VA funding fee?

Yes, twice: the rate falls and it applies to a smaller loan. On a 400,000 home on first use, nothing down costs 2.15% of 400,000, or 8,600. Putting 5% (20,000) down cuts the rate to 1.5% of 380,000, or 5,700; 10% down gives 1.25% of 360,000, or 4,500. On later use, 5% down cuts the rate from 3.3% to 1.5%.

Do VA loans have PMI or a loan limit?

No PMI or FHA-style mortgage insurance premium is charged on a VA loan. Borrowers with full entitlement have no VA loan limit, as long as they can afford the loan and the appraisal supports the price. With partial entitlement, most lenders want your entitlement and down payment together to cover 25% of the loan (VA).

How accurate is the VA loan calculator?

Accuracy depends on your inputs and the method's assumptions. Decimal arithmetic uses 50 significant digits, but estimates, numerical methods and source data can be less precise; the displayed rounding does not remove those limits. It is checked against 6 worked examples whose answers come from independent sources; for example, “400k, nothing down, first use” is checked against VA funding fee table (2.15%, first use, under 5% down); Python decimal annuity on 408,600 at 6.25%/12 over 360 months; fee interest = 497,095.37 − 486,632.77.

Where does the method come from?

U.S. Department of Veterans Affairs — VA funding fee and loan closing costs (rates effective April 7, 2023); U.S. Department of Veterans Affairs — VA home loan limits; U.S. Department of Veterans Affairs — VA-backed purchase loan.

About this calculator

F = f\times L,\quad T = L + F,\quad M = \frac{T\,r\,(1+r)^n}{(1+r)^n-1}

Sources

For planning only. Lenders, tax authorities and markets apply their own rounding, fees and rules; confirm figures with them before you commit.

Checked against references

6 worked examples with independently sourced answers ship with this calculator. They run in the test suite; you can run them here too.