I created this easy-to-use VA loan calculator to make it simple for active duty, veterans, and other eligible individuals to quickly determine both their VA funding fee and monthly payment.
It relies upon the latest funding fee chart from the VA (here) to ensure the correct numbers are used.
From there, it will also automatically calculate this fee based on your purchase price, down payment (if applicable), and transaction type.
The funding fee varies based on down payment, first use or subsequent use, and loan type. There are also exemptions where you pay nothing.
For example, the VA’s streamline refinance program (IRRRL) comes with a fee of 0.5%, while a cash-out refinance has a much higher 2.15% fee for first use and 3.3% after first use.
There’s also a reduced funding fee for loan assumptions, which have become a lot more popular today with mortgage rates rising substantially over the past few years.
VA Loan Calculator
Estimate your monthly VA loan payment, total interest, and VA funding fee based on your loan type, borrower status, and down payment. Includes a full amortization schedule.
Loan Details
Borrower & Loan Type
Taxes & Insurance (optional)
Add your estimated monthly costs below to see your full monthly payment, sometimes called PITI. These don’t affect the loan calculation — they’re added on top of your principal & interest payment.
Loan Breakdown
Amortization Schedule
How to Use the VA Loan Calculator
Simply enter your home price (purchase price) and the down payment amount if applicable.
You can enter either a dollar amount or a percentage. This will often be zero since VA loans don’t require a down payment.
If it’s a rate and term refinance, simply enter the outstanding loan amount in the home price box and put zero for the down payment.
If it’s a cash-out refinance, enter the expected total loan amount including the current balance and the cash out amount. And zero for down payment.
From there you just need to select your loan type, whether it’s first use or subsequent use, if you are exempt from the funding fee, and whether you want the fee rolled into the loan amount or paid at closing.
There is also an optional property tax and homeowners insurance section if you know those monthly figures and want to see your full PITI payment.
Below that you’ll see a full loan breakdown with all the important details, a chart showing your loan balance and interest expense over time, and a loan amortization schedule with monthly payments and balances.
This should give you a quick, but complete rundown of what to expect if applying for a VA loan.
