VA Loan Calculator - Payment & Funding Fee

A VA loan calculator estimates the monthly cost of a VA-backed purchase or modeled refinance using principal, interest, the one-time funding fee, property taxes, homeowners insurance, and HOA dues. Use it to compare down-payment choices, prepare lender questions, or test whether a home fits your budget. It is a planning estimate, not an eligibility or approval decision.

• • Plan a zero-down purchase: Start with a purchase price and no down payment to see the funding-fee effect on the balance and the full recurring payment.
• • Compare 5% and 10% down: Test the VA fee breakpoints alongside the cash retained for reserves, moving costs, repairs, and closing expenses.
• • Budget the whole payment: Add annual taxes, insurance, and monthly HOA dues so the result is more useful than principal and interest alone.
• • Review refinance scenarios: Choose cash-out refinance, IRRRL, or NADL and see how the program-specific fee changes a modeled balance.

The result separates the base loan and one-time fee. Financing the fee raises scheduled principal and interest; paying cash keeps the modeled balance lower.

For a second VA-focused payment view with a simpler purchase setup, compare VA Mortgage Calculator using the same price and rate assumptions.

The calculation subtracts the capped down payment, applies the selected VA fee rule, and adds the fee to principal when financed. Annual taxes and insurance become monthly estimates; HOA dues are added afterward.

• P: Interest-bearing balance after the down payment and any financed funding fee.
• r: Monthly decimal rate, calculated as annual percentage rate ÷ 100 ÷ 12.
• n: Number of monthly payments, calculated as loan term in years × 12.
• Fee rate: VA percentage selected from loan type, prior use, down-payment tier, and exemption status.
• Tax, insurance, and HOA: Recurring property costs added to monthly principal and interest.

The VA fee table used here is effective April 7, 2023. For purchase and construction loans, less than 5%, 5% or more, and 10% or more down use different bands: 2.15% for first use below 5%, 3.3% after first use below 5%, 1.5% at 5% or more, and 1.25% at 10% or more. Cash-out refinance uses 2.15% or 3.3%; IRRRL is 0.5%; NADL purchase is 1.25%; and NADL refinance is 0.5%. Exactly 5% or 10% down receives the lower tier.

According to Consumer Financial Protection Bureau, a fixed-rate mortgage payment depends on the loan amount, loan term, and interest rate and is calculated so regular payments pay off the loan at the end of the term.

Compare the VA-specific fee treatment with a general fixed-rate baseline in the Mortgage Calculator when you want to hold price, term, and rate constant.

These four concepts explain the main differences between a VA estimate and a conventional mortgage payment.

A down payment can lower the purchase fee tier; an exemption sets the fee to zero. No monthly PMI is not the same as no closing costs. A refinance amount is simplified and may differ from a real transaction.

According to U.S. Department of Veterans Affairs, an eligible VA-backed purchase loan may require no down payment when the sales price is not higher than the appraised value and does not require private mortgage insurance.

If you are comparing government-backed programs and mortgage-insurance structures, place this result beside the FHA Loan Calculator.

Start with a listing, contract, or lender worksheet. Keep rate and term fixed while testing down-payment and fee choices.

1. 1 Enter the amount: Use the home purchase price for a purchase scenario, or a modeled base loan amount before the fee for a refinance scenario.
2. 2 Add the down payment: Enter zero for a zero-down comparison or the cash contribution you expect to make. The amount is capped at the price entered.
3. 3 Set rate and term: Enter the annual fixed rate and repayment term from the lender quote. A shorter term usually raises the monthly P&I but changes scheduled interest.
4. 4 Choose the VA program: Select purchase, cash-out refinance, IRRRL, NADL purchase, or NADL refinance so the fee rule matches the scenario being modeled.
5. 5 Select use and fee treatment: Choose first use or after first use where relevant, then select a documented exemption and whether the fee will be financed.
6. 6 Add property costs: Enter annual property tax, annual insurance, and monthly HOA dues. Review both the total payment and each itemized result.

For a $350,000 purchase, run $0 down, $17,500 down, and $35,000 down using the same 6.5% rate, 30-year term, taxes, and insurance. Compare the payment reduction with cash removed from reserves, rather than choosing only the smallest monthly result.

For a focused breakdown of principal, interest, taxes, and insurance without VA fee choices, use the PITI Calculator after this scenario.

A payment estimate is useful when it answers a decision you need to make before the lender's final Loan Estimate arrives.

• • See a complete recurring payment: Taxes, insurance, and HOA dues are visible beside P&I, so a home comparison is based on a broader monthly obligation.
• • Make the funding fee visible: The fee rate and dollar amount are itemized instead of being hidden inside the total loan balance.
• • Compare cash versus financing: Toggle fee financing to understand the tradeoff between cash needed at closing and a larger interest-bearing balance.
• • Test statutory breakpoints: Run just below and at 5% and 10% down to see how a fee-tier change interacts with principal reduction.
• • Prepare lender questions: Bring a documented scenario and ask the lender to reconcile the rate, fee status, escrow amounts, closing costs, and loan balance.

Compare zero down, a cash-down case, and a documented exemption case. Check the base loan, fee, total loan, payment, and scheduled interest. Replace rough property costs with local figures and verify prior-use status with the lender or VA.

To isolate the interest component of a different principal and rate combination, continue with the Mortgage Interest Calculator.

Loan rules, property costs, and lender assumptions can move the result. Review these drivers before treating a small monthly difference as meaningful.

• • This is not an eligibility, entitlement, appraisal, occupancy, debt-to-income, residual-income, or underwriting decision.
• • It excludes origination charges, points, title costs, prepaids, repairs, seller credits, and other closing-cost details.
• • Refinance inputs are simplified; actual cash-out or IRRRL payoff, seasoning, proceeds, and fee rules require lender review.

The VA explains that only the funding fee can be financed on a purchase or construction/permanent loan; other closing charges generally must be paid at closing.

According to U.S. Department of Veterans Affairs, purchase-loan funding fees effective April 7, 2023 are 2.15% or 3.3% below 5% down, 1.5% at 5% or more, and 1.25% at 10% or more, with different fixed rates for refinance and NADL loans.

For a broader loan comparison that includes other borrowing-cost assumptions, use the Loan & Mortgage Calculator as a separate baseline.