VA Mortgage Calculator

The VA Mortgage Calculator is designed specifically for veterans, active-duty military personnel, and eligible spouses to estimate their monthly mortgage payments using VA loan benefits. VA loans offer significant advantages including no down payment requirement, no private mortgage insurance (PMI), and competitive interest rates.

Key Features of VA Loans:

• No Down Payment Required: Qualified borrowers can finance 100% of the home's value
• No Private Mortgage Insurance (PMI): Save hundreds of dollars monthly
• Competitive Interest Rates: Often lower than conventional loans
• No Prepayment Penalties: Pay off your loan early without fees
• Assumable Loans: Qualified buyers can take over your VA loan

How to Use This Calculator:

1. Enter Home Price: The total purchase price of the home you're considering
2. Down Payment: While VA loans allow $0 down, you can enter any amount you plan to put down
3. Interest Rate: Current VA loan interest rate (check with VA-approved lenders for current rates)
4. Loan Term: Choose between 15, 20, 25, or 30-year loan terms
5. VA Funding Fee: One-time fee (typically 2.15% for first-time use with no down payment)
6. Property Tax: Annual property tax amount for the home
7. Home Insurance: Annual homeowner's insurance premium
8. Click Calculate: Get your estimated monthly payment and loan breakdown

Understanding VA Funding Fee:

The VA funding fee helps keep the VA loan program running for future veterans. The fee varies based on:

• Type of military service
• Down payment amount
• Whether it's your first VA loan use
• Veteran disability status (disabled veterans are exempt)

Who Qualifies for VA Loans:

• Veterans with qualifying service
• Active-duty service members
• National Guard and Reserve members
• Surviving spouses of service members who died in service or from service-connected disabilities