VA Loan Calculator
Estimate a VA loan payment with zero down, the VA funding fee, property tax and insurance, and no mortgage insurance.
VA loan basics
VA loans are guaranteed by the Department of Veterans Affairs for eligible veterans, active-duty service members and some surviving spouses. They allow 0% down, have no monthly mortgage insurance and usually carry lower rates than conventional loans.
VA funding fee
Instead of mortgage insurance, most borrowers pay a one-time funding fee, which can be financed into the loan:
| Down payment | First use | Subsequent use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% to less than 10% | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
Veterans receiving VA disability compensation, and some others, are exempt.
A $350,000 home with 0% down on first use: the 2.15% funding fee is $7,525, for a $357,525 loan. At 6% for 30 years principal and interest is $2,144; with 1% property tax and $1,500 a year of insurance the payment is about $2,560 a month, with no mortgage insurance.
Eligibility
You generally need 90 consecutive days of active service in wartime, 181 days in peacetime, or six years in the National Guard or Reserves, plus a Certificate of Eligibility (COE). Lenders still check credit and debt-to-income ratio.
Frequently asked questions
How much is the VA funding fee?
For first use with less than 5% down it is 2.15% of the loan; 3.3% on later uses. Putting 5% or 10% down lowers it to 1.5% or 1.25%.
Do VA loans have PMI?
No. VA loans have no monthly mortgage insurance, only the one-time funding fee.
Can I use a VA loan more than once?
Yes. Your entitlement can be restored after you sell, and you may have remaining entitlement for a second loan. Later uses with less than 5% down have a higher funding fee.
Last reviewed October 2026. Results are estimates; check important decisions with a qualified professional.