VA Mortgage Calculator Online Free
VA Mortgage Calculator
VA Loan Details
VA Eligibility
$0.00 added to loan amount
Monthly Payment Breakdown
Monthly Payment
$0.00
Principal vs Interest Breakdown
Loan Balance Over Time
Amortization Schedule
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VA loans are one of the most valuable benefits available to eligible veterans, active-duty service members, and surviving spouses. They offer no down payment, no private mortgage insurance, and competitive interest rates backed by the U.S. Department of Veterans Affairs. This calculator helps you estimate your monthly payment including the VA funding fee.
Key VA Loan Benefits
The biggest advantages of a VA loan are no down payment requirement and no PMI. On a $300,000 home, skipping a 20% down payment keeps $60,000 in your pocket. Eliminating PMI (typically 0.5-1.5% of the loan annually) saves hundreds per month compared to conventional loans with less than 20% down.
| Feature | VA Loan | Conventional Loan |
|---|---|---|
| Down payment | 0% required | 3-20% typical |
| PMI | None | Required if < 20% down |
| Credit score min | 620 (lender standard) | 620-640 typical |
| Funding fee | Yes (0.5-3.3%) | None |
| Loan limits | None (with full entitlement) | Conforming limits apply |
VA Funding Fee
The VA funding fee is a one-time charge that helps fund the VA loan program for future veterans. The fee ranges from 0.5% to 3.3% of the loan amount depending on whether it is your first VA loan, your down payment amount, and your service type. Veterans with a VA disability rating of 10% or more are exempt from this fee.
First-time use, 0% down: 2.15% of loan amount First-time use, 5-9.9% down: 1.5% First-time use, 10%+ down: 1.25% Subsequent use, 0% down: 3.3%
The funding fee can be financed into the loan rather than paid upfront.
Frequently Asked Questions
Who qualifies for a VA loan?⌄
Eligibility generally requires 90 consecutive days of active wartime service, 181 days of active peacetime service, 6 years in the National Guard or Reserves, or being the surviving spouse of a service member who died in service or from a service-related disability. You must obtain a Certificate of Eligibility (COE) from the VA.
Can I use a VA loan more than once?⌄
Yes. VA loan benefits can be reused as long as you have remaining entitlement or have restored your entitlement by paying off a previous VA loan. You can even have two VA loans simultaneously in some circumstances, such as when relocating for a military move.
Is there a VA loan limit?⌄
Veterans with full entitlement (no active VA loans and no previously defaulted VA loans) have no loan limits. Veterans with partial entitlement are subject to conforming loan limits in their county. In high-cost areas these limits can exceed $1 million.
Do VA loans take longer to close?⌄
VA loans used to take longer due to the VA appraisal process, but most VA loans now close in 30-45 days, comparable to conventional loans. The VA appraisal does have stricter minimum property requirements, which occasionally causes delays if a property needs repairs.