VA Loan Calculator

Estimate the house payment and funding fee on a VA loan

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Updated on: August 29, 2025

How to use our VA loan calculator

To estimate your monthly loan payment using our VA loan calculator, you’ll need to enter several pieces of information:

Loan purpose: Our calculator can help you estimate the costs for a VA purchase loan or VA refinance loan.
Credit score: Though the VA doesn’t set minimum credit score requirements, many lenders prefer a 620 or higher. It’s possible to get a VA loan with bad credit, but you’ll have limited options and you may pay a higher interest rate.
Location: Interest rates vary based on where you live. If you’re purchasing a home, enter the ZIP code for your desired neighborhood.
Home price: If you know your home’s purchase price, enter it here. For refinancing, try our home value estimator to get an idea of how much your home is worth.
Down payment: You’ll enter $0 in this field in most cases, since VA loans typically don’t require a down payment.
Military experience and disability status: You’ll need to prove that you served in the military, Reserves or National Guard long enough to be eligible for a VA loan. Surviving spouses may also be eligible. Veterans with service-related disabilities may be exempt from the VA funding fee.
Home type: You can choose from single-family homes, townhomes, condos, multifamily homes and co-ops. In most cases, VA loans can only be used to buy a home you plan to use as a primary residence.
First-time VA loan: If this is your first time getting a VA loan, you’ll receive a discount on the VA funding fee.

Advanced VA loan calculator options

Loan term: Most borrowers prefer a 30-year mortgage to get the lowest monthly payment. However, you can use a 15-year mortgage if you want to pay off your balance faster and don’t mind the higher monthly payment.
Mortgage rate: Check out VA mortgage rates to get an idea of what percentage to enter here.
Homeowners insurance: If you’ve shopped for homeowners insurance already, enter the premium here. Otherwise, the calculator will estimate a figure for you.
HOA fees: If your home is governed by a homeowners association (HOA), you may have a monthly association fee, which is paid separately from your regular mortgage payment.
Property taxes: You’ll pay local property taxes based on rates set by your city or county. The annual bill is usually divided into 12 equal installments and added to your monthly mortgage payment.

VA loan guide

Key takeaways about VA loans

Your monthly mortgage payment will include principal, interest, taxes and insurance.
You’ll also need to pay an upfront VA funding fee and other closing costs.
Only eligible military members, veterans and surviving spouses qualify for VA loans.

On this page

VA loan eligibility
VA loan closing costs and other fees
Pros and cons of VA loans
VA loan interest rates
Frequently asked questions

VA loan eligibility

Eligibility requirements for a loan backed by the U.S. Department of Veterans Affairs (VA) depends on your military service.

Active-duty service members: Must have served for at least 90 consecutive days.
Veterans, Reserve and National Guard members: Eligibility requirements vary based on your service dates.
Surviving spouses: Must have been married to a service member who died in the line of duty or from a service-related disability.

Before getting a VA loan, you’ll need a certificate of eligibility (COE). This document proves that you qualify for a VA loan. You can request a COE online, by mail or through your lender.

Learn more about VA loan eligibility requirements.

VA loan closing costs and other fees

You can generally expect to pay 2% to 6% of your home’s purchase price in VA closing costs. These costs include:

Loan origination fee: You’ll pay a maximum 1% loan origination fee to cover the administrative costs of processing your VA loan application.
Credit report fee: The lender will need to check your credit report and credit score to determine your eligibility for a loan.
VA appraisal fee: A home appraisal is a professional estimate of a home’s value. Since VA appraisals are more in-depth than standard appraisals, they tend to be a bit pricier — costing as much as $1,000 or more in some states.
Discount points: You can buy mortgage points to lower your VA interest rate. One discount point typically costs 1% of your loan amount and lowers your rate by up to 0.25%.
Recording fee: These fees are paid to state and local governments to record your deed.
Title insurance fee: Mortgage lenders will usually require you to purchase title insurance to protect their investment if liens or other title-related issues are uncovered after closing.
Homeowners insurance and property taxes: You’ll typically need to pay a portion of your homeowners insurance and property taxes for the first year up front.

The VA funding fee is unique to VA loans and designed to help offset the costs of the loan program to taxpayers. It’s an upfront payment that’s calculated based on your loan amount and ranges from 0.5% to 3.3%. The specific percentage you’ll pay depends on a few factors, including your down payment, loan purpose and whether you’re a first-time or repeat VA borrower.

Pros and cons of VA loans

Pros

No down payment. One of the main benefits of VA loans is that you can get one with no money down in most cases.

No mortgage insurance. VA loans don’t require mortgage insurance, unlike conventional loans (if you put down less than 20%) and FHA loans.

Cap on closing costs. The VA limits the closing costs VA borrowers can pay, helping to keep the program affordable.

Cons

Only available to qualified service members and veterans. VA loans are only available to qualified military members, veterans and surviving spouses.

Funding fee. The VA funding fee is a required upfront cost you’ll need to either pay out of pocket or roll into your loan amount.

Can only be used for primary residences. VA loans are only available for borrowers who plan to live in the home.

VA loan interest rates

Since it’s a government-backed program, VA loan rates tend to be lower than conventional loan rates. View today’s VA loan interest rates.

Frequently asked questions

Your monthly payment on a VA loan will depend on several factors, including your loan amount, credit score and interest rate. You’ll also need to factor in homeowners insurance and property taxes.

The 1% rule refers to a guideline set by the VA that prohibits lenders from charging VA borrowers more than 1% for a loan origination fee.

There’s not a single best VA lender, though we explore some top picks in our VA loan guide. When comparing VA lenders, it’s important to consider the company’s rates, fees and overall customer service reputation.