How the VA Loan Calculator Works

Our VA Loan Calculator gives you the opportunity to quickly and easily calculate your monthly payment for different loan amounts and home values. The calculator also determines your VA Funding Fee and factors that into your payment estimate.

VA Funding Fee Explained

The VA Funding Fee is paid directly to the Department of Veteran's Affairs and is the reason they can guarantee this no-money-down loan program. The Funding Fee is automatically financed in your VA Loan and calculated into your payments. The amount of the Funding Fee is determined by 4 factors:

  • loan amount,
  • type of service,
  • down payment (if any),
  • and whether or not you have used your VA Loan in the past.

First-Time Use

Down Payment
Active Duty / Retired
Guard / Reserve
$0 Down
2.15%
2.40%
5-10% Down
1.50%
1.75%
10% or more
1.25%
1.50%

Subsequent Use

Down Payment
Active Duty / Retired
Guard / Reserve
$0 Down
2.15%
2.40%
5-10% Down
1.50%
1.75%
10% or more
1.25%
1.50%

No Down Payment Necessary

The VA Loan requires no down payment, making it the most popular choice for loan programs among our Nation's past and present Military.

Term of Loan

VA Home Loans are available in 15- and 30-year terms. The most popular term for a VA Home Loan is 30-years because it lowers the payments substantially. The 15 year loan comes with a higher monthly payment, but also less interest paid out over the life of the loan.