VA Mortgage Calculator - Calculate VA Loan Payments
Free VA mortgage calculator with 2025 funding fees. Calculate VA loan payments, benefits, and costs for veterans and active military with no down payment.
VA Mortgage Calculator
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What is a VA Mortgage Calculator?
A VA mortgage calculator is a specialized financial tool designed for veterans, active-duty military members, and eligible surviving spouses to calculate monthly payments on VA-backed home loans. It incorporates 2025 VA funding fees and highlights the unique benefits of VA loans including no down payment and no PMI requirements.
This calculator helps with:
- Zero down payment planning - Calculate payments without needing a down payment
- Funding fee calculation - Automatically applies 2025 VA funding fee rates
- Cost comparison - Compare VA loan savings versus conventional mortgages
- Disability exemptions - Account for funding fee waivers for disabled veterans
- Budget planning - Understand total monthly costs without PMI
Planning to buy a home with an FHA loan? Our FHA loan calculator helps you calculate payments with low down payment options and mortgage insurance requirements.
For a comprehensive comparison of different mortgage types, use our mortgage calculator to evaluate conventional loans alongside your VA loan options.
Planning for retirement as a veteran? Our retirement calculator can help you determine how much you need to save for a comfortable retirement.
How VA Loans Work
VA loans are guaranteed by the Department of Veterans Affairs and offer exceptional benefits for eligible service members:
No Down Payment
Purchase a home with $0 down, making homeownership immediately accessible.
No PMI
Never pay Private Mortgage Insurance, saving hundreds monthly compared to conventional loans.
Competitive Rates
Lower interest rates than conventional mortgages due to VA guarantee.
Funding Fee
One-time fee (2.15%-3.30% for 2025) that can be financed into the loan.
Key VA Loan Concepts
VA Funding Fee
One-time payment to help sustain the VA loan program. For 2025: 2.15% (first-time, 0% down), 3.30% (subsequent use), 1.50% (5-10% down), 1.25% (10%+ down). Disabled veterans are exempt.
Certificate of Eligibility (COE)
Document proving your eligibility for VA loan benefits based on service history. Required to obtain a VA loan.
Entitlement
The amount the VA guarantees on your loan. Most veterans have full entitlement allowing loans up to conforming limits with no down payment.
How to Use This Calculator
Enter Home Price
Input the purchase price of the home (e.g., $300,000)
Set Down Payment
Enter down payment percentage (0% is typical for VA loans)
Enter Interest Rate
Input the VA loan interest rate from your lender (e.g., 6.0%)
Specify Loan Term
Choose loan duration (typically 30 years for VA loans)
Add Property Costs
Enter annual property tax and insurance amounts
Select VA Options
Check if first-time user or have service-connected disability
Benefits of VA Loans
- • Zero Down Payment: Buy a home without saving for a down payment, making homeownership immediately accessible.
- • No PMI Required: Save $100-$300+ monthly by never paying Private Mortgage Insurance regardless of down payment.
- • Competitive Interest Rates: VA loans typically offer lower rates than conventional mortgages due to government backing.
- • Limited Closing Costs: VA limits what sellers and lenders can charge, protecting veterans from excessive fees.
- • Reusable Benefit: You can use your VA loan benefit multiple times throughout your lifetime.
VA Loan Requirements
Service Requirements
90+ days active service during wartime, 181+ days during peacetime, or 6+ years in National Guard/Reserves.
Credit Requirements
Minimum credit score typically 620, though VA has no official minimum. Lenders set their own standards.
Income Requirements
Stable, reliable income that covers mortgage payments and living expenses. Residual income standards apply.
Property Requirements
Must be primary residence, meet VA minimum property requirements (MPRs), and pass VA appraisal.
Frequently Asked Questions (FAQ)
Q: What is the VA funding fee?
A: The VA funding fee is a one-time payment that helps offset the cost of the VA loan program. For 2025, it's 2.15% for first-time users with 0% down, 3.30% for subsequent use, and can be reduced with larger down payments. Disabled veterans are exempt.
Q: Can I get a VA loan with 0% down?
A: Yes! One of the biggest benefits of VA loans is that eligible veterans and active military can purchase a home with 0% down payment, making homeownership accessible without a large down payment.
Q: Do I need PMI with a VA loan?
A: No! VA loans never require Private Mortgage Insurance (PMI), regardless of your down payment amount. This is a significant savings compared to conventional loans.
Q: Who is exempt from VA funding fee?
A: Veterans receiving VA compensation for service-connected disabilities are exempt. Additionally, Purple Heart recipients and surviving spouses are also exempt.