VA Loan Calculator
The VA loan is one of the best deals in American mortgages: 0% down, no monthly PMI. The trade-off is a one-time funding fee that depends on your service type and down payment. See your real monthly cost here.
Your VA loan
Monthly payment (no PMI on VA loans)
How VA loans work
VA loans are guaranteed by the Department of Veterans Affairs for eligible veterans, active-duty service members, and some surviving spouses. The headline benefits: no down payment required and no monthly mortgage insurance — a combination no other major loan program offers.
Instead of monthly PMI, VA charges a one-time funding fee, usually financed into the loan. For first-time use with 0% down it's 2.15% of the loan amount; subsequent use jumps to 3.3%. Putting 5%+ down drops it to 1.5% (first use), and 10%+ down to 1.25%. Veterans with a service-connected disability are exempt entirely — check the box above if that applies.
Because there's no PMI, a 0%-down VA loan often beats a 3.5%-down FHA loan on monthly payment, even with the funding fee. If you're eligible, run both calculators and compare.
Frequently asked questions
Do VA loans require a down payment?
No. VA loans allow 0% down with no monthly mortgage insurance, which is their biggest advantage over FHA and low-down conventional loans.
What is the VA funding fee?
A one-time fee that keeps the VA loan program running. For first-time use with 0% down it's 2.15% of the loan; subsequent use is 3.3%. The fee drops with larger down payments and is usually financed into the loan.
Who is exempt from the VA funding fee?
Veterans with a service-connected disability rating, and surviving spouses of veterans who died in service or from a service-connected disability, are exempt from the funding fee.
Is there PMI on a VA loan?
No. VA loans have no monthly mortgage insurance regardless of down payment — the funding fee replaces it.
Can I reuse my VA loan benefit?
Yes. Entitlement can be restored after paying off a VA loan, and partial entitlement allows more than one VA loan at a time in some cases.
Do VA loans have loan limits?
Veterans with full entitlement face no VA loan limit. With partial entitlement, limits follow the conforming loan limit for the county.
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