VA Loan Calculator
Estimate your projected monthly payment, VA funding fee and homebuying costs with our VA mortgage loan calculator.
Estimated monthly payments include principal and interest and are not an offer to lend. Tax, insurance, and other fees and charges may apply. Default interest rate displayed is illustrative only. Interest rates, total cost of mortgage, and monthly mortgage payment are estimates based on information provided. Actual mortgage payment and interest rate may be higher or lower than those displayed and will depend on your mortgage product, collateral, and credit history.
Crunch your own numbers with our mortgage calculators for refinance or a purchase loan, and run as many different scenarios as you’d like.
What It Shows
- Estimated monthly VA loan payment
- Projected taxes, insurance, and funding fee costs
- Purchase scenarios with low or no down payment
What It Doesn’t
- Your Certificate of Eligibility approval
- Final lender underwriting or loan approval
- Exact VA funding fee exemptions or closing costs
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Every input and output the calculator uses, explained in plain terms.
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Answer a few questions to see the rates, payments, and VA loan options you may qualify for.
Frequently Asked Questions
What is the VA funding fee?
The VA funding fee is a one-time fee that helps support the VA loan program for future borrowers. The amount can vary based on factors such as your loan type, down payment, and previous use of a VA loan. In many cases, the funding fee can be financed into the loan rather than paid out of pocket at closing.
Who is exempt from the VA funding fee?
Some borrowers may be exempt from paying the VA funding fee based on their military service or disability-related benefits. Eligibility for an exemption is determined by the Department of Veterans Affairs and is typically reflected on your Certificate of Eligibility (COE) or other VA documentation.
What disability rating do I need to be exempt from the VA funding fee?
Veterans who are receiving, or are eligible to receive, qualifying VA disability compensation may be exempt from the VA funding fee. Eligibility should be confirmed through your Certificate of Eligibility (COE) and VA documentation.
Can I finance the VA funding fee into my loan?
Yes —VA borrowers may roll the funding fee into the loan and pay it off over time rather than bringing it to closing.
What is a Certificate of Eligibility (COE)?
A Certificate of Eligibility, or COE, is a document that confirms your eligibility for a VA-backed home loan. Your lender can often help you obtain a COE as part of the mortgage process.
How much can I borrow with a VA loan?
The amount you may be able to borrow depends on factors such as your income, credit profile, available entitlement, and lender requirements. A loan officer can help you determine what loan amount may be available based on your individual qualifications.
Do I need a down payment for a VA loan?
Eligible borrowers may be able to purchase a home with no down payment through the VA loan program. Depending on the property, loan amount, and individual circumstances, some borrowers may choose or be required to make a down payment.
What is the difference between first-use and subsequent-use VA loans?
“First use” means this is your first VA loan or that your entitlement has been fully restored after paying off and disposing of a prior VA-financed property. “Subsequent use” means you have prior VA-loan history without full restoration, which raises your funding fee.
What is the VA IRRRL and how much is its funding fee?
The VA Interest Rate Reduction Refinance Loan (IRRRL) is a streamline refinance from one VA loan into another at a lower rate. VA Streamline (IRRRL) refinances generally carry a substantially lower funding fee than VA purchase loans or VA cash-out refinances.
Do VA loans require mortgage insurance?
VA loans do not require monthly mortgage insurance. However, some borrowers may be required to pay a one-time VA funding fee unless they qualify for an exemption.
*loanDepot Lifetime Guarantee is non-transferable and does not apply to loans obtained to purchase a new property, new loans that result in the creation of a separate lien on the current property (i.e., a “home equity loan”), renovation loans, bond loan programs, and down payment assistance programs. “Lender fee” does not include discount points associated with the loan transaction nor does it include fee associated with third-party closing costs. Terms and conditions apply. Please refer to the website: http://www.loanDepot.com/lifetime-guarantee for the most current terms and conditions as they are subject to change without notice.
loanDepot.com, LLC is not acting on behalf of or at the direction of the VA/HUD/FHA, or the federal government.