VA Mortgage Payment Calculator
Estimate your VA loan payment, including principal and interest, property taxes, homeowners insurance and the VA funding fee. Compare $0-down and down-payment scenarios to see how your financing choices affect your estimated monthly payment.
Estimate Your Monthly VA Mortgage Payment
Enter your home price, down payment, interest rate, property taxes, homeowners insurance and VA eligibility information to estimate your monthly VA mortgage payment and total financed loan amount.
VA Mortgage & Funding Fee Calculator
VA Payment Calculator
Estimate your total financed loan amount, statutory government funding fee lines, and predictable mortgage payment options live.
Total Estimated Monthly Payment
$0
How Is a VA Mortgage Payment Calculated?
Your estimated VA mortgage payment is based on the amount financed, mortgage interest rate and loan term, along with applicable property taxes and homeowners insurance. HOA dues can also affect your total monthly housing expense.
Principal & Interest
Principal and interest are calculated from your total financed loan amount, mortgage interest rate and loan term. Financing the VA funding fee increases the loan balance used to calculate this payment.
Property Taxes
Property taxes are generally included when estimating your total monthly housing expense. The actual amount varies by property and taxing jurisdiction.
Homeowners Insurance
Your homeowners insurance premium is another component of the total monthly housing cost and varies by property, insurer, coverage and deductible.
HOA Dues
Required homeowners association dues are not part of the mortgage itself, but they can affect your total monthly housing expense and mortgage qualification.
Do VA Loans Have PMI?
No. VA loans do not require monthly private mortgage insurance (PMI).
This is an important difference between VA financing and many other low-down-payment mortgage options. A conventional borrower making a small down payment may have monthly private mortgage insurance, while eligible VA borrowers do not pay monthly PMI.
VA loans may instead have a one-time VA funding fee. The funding fee and monthly mortgage insurance are different costs and should not be confused with one another.
VA Mortgage Insurance
$0 monthly PMI
VA funding fee may apply
Funding fee can generally be financed
Some eligible borrowers are exempt from the funding fee
How the VA Funding Fee Affects Your Mortgage Payment
The VA funding fee is a one-time fee that helps support the VA home loan program. For most purchase loans, the percentage depends on whether you have used your VA home loan benefit before and the size of your down payment. Borrowers who qualify for an exemption do not pay the funding fee.
The funding fee can generally be paid at closing or financed into the mortgage. When financed, it increases your total loan balance and therefore slightly increases your monthly principal-and-interest payment.
VA Purchase Loan Funding Fee
| VA Benefit Use | Down Payment | Funding Fee |
|---|---|---|
| First Use | Less than 5% | 2.15% |
| First Use | 5% or more | 1.50% |
| First Use | 10% or more | 1.25% |
| Subsequent Use | Less than 5% | 3.30% |
| Subsequent Use | 5% or more | 1.50% |
| Subsequent Use | 10% or more | 1.25% |
Funding-fee percentages shown are for VA purchase loans and are based on current Department of Veterans Affairs guidance. Different VA transactions, including certain refinances, may use different funding fee percentages.
Who May Be Exempt From the VA Funding Fee?
Not every VA borrower pays a funding fee. VA provides funding-fee exemptions for certain eligible Veterans, service members and surviving spouses.
Examples can include certain Veterans receiving or eligible to receive VA compensation for a service-connected disability, certain surviving spouses receiving Dependency and Indemnity Compensation, and certain active-duty service members who have been awarded the Purple Heart.
Your Certificate of Eligibility and VA documentation can help determine whether an exemption applies to your loan.
Why Exemption Status Matters
If you are exempt, the funding fee is removed from the calculation. That can reduce both the amount financed and your estimated monthly principal-and-interest payment.
That's why our VA mortgage payment calculator asks whether you are exempt from the VA funding fee.
What Does a VA Loan Payment Look Like With $0 Down?
One of the best-known features of VA financing is that eligible borrowers may be able to purchase a home without a required down payment. A zero-down VA loan does not mean there are no costs, however. Your monthly payment still depends on the loan amount, interest rate, taxes, insurance and applicable VA funding fee.
$0 Required Down Payment
Eligible borrowers may be able to finance the purchase without making a down payment, subject to VA and lender requirements and the property's value.
Funding Fee May Apply
Unless exempt, a VA funding fee generally applies. For a purchase with less than 5% down, the current fee is 2.15% for first use and 3.3% for subsequent use.
No Monthly PMI
VA financing does not require monthly private mortgage insurance, including when an eligible borrower purchases with no down payment.
How Does a Down Payment Change a VA Mortgage Payment?
Although VA financing may allow a qualifying borrower to purchase with no down payment, making a down payment can reduce both the base loan amount and, at certain thresholds, the VA funding-fee percentage.
Less Than 5% Down
The purchase funding fee is generally 2.15% for first use or 3.30% for subsequent use when the borrower is not exempt.
5% or More Down
The VA purchase funding fee is generally reduced to 1.50% for both first and subsequent use.
10% or More Down
The VA purchase funding fee is generally reduced further to 1.25% for both first and subsequent use.
Use the calculator above to compare different down-payment amounts. The best option is not necessarily the one with the largest down payment; preserving cash reserves can also be an important part of home-buying decisions.
VA vs. Conventional Mortgage Payment
VA and conventional loans calculate principal and interest the same basic way, but their mortgage-insurance and upfront-cost structures can be very different.
| Feature | VA Loan | Conventional Loan |
|---|---|---|
| Potential $0 Down Option | Yes | Generally No |
| Monthly PMI | No | May apply with a smaller down payment |
| Upfront Funding Fee | May apply unless exempt | No VA funding fee |
| Property Taxes | Included in total housing cost | Included in total housing cost |
| Homeowners Insurance | Included in total housing cost | Included in total housing cost |
VA vs. FHA Mortgage Payment
VA and FHA loans are both government-backed mortgage programs, but their mortgage-insurance structures are different. Eligible VA borrowers should compare the complete monthly payment and cash needed at closing rather than looking only at the interest rate.
VA Loan
VA financing may allow no down payment and does not require monthly mortgage insurance. A one-time VA funding fee may apply unless the borrower qualifies for an exemption.
FHA Loan
FHA financing generally requires a down payment and includes FHA mortgage insurance. The total payment should be compared with VA financing when a borrower is eligible for both programs.
Estimating a VA Mortgage Payment in Kansas City
For Kansas City-area home buyers, the same VA loan amount can produce different total monthly housing costs depending on where the property is located. Property taxes, homeowners insurance and HOA dues should therefore be estimated for the specific home whenever possible.
Property Taxes
Property taxes vary across Johnson County, Jackson County, Clay County, Platte County and other Kansas City-area jurisdictions.
Homeowners Insurance
Insurance premiums vary by property, location, coverage, deductible and insurer and can materially affect the total housing payment.
HOA Dues
HOA dues are common in many Kansas City-area subdivisions and should be considered when estimating your total monthly housing expense.
VA Mortgage Rate
Your interest rate directly affects principal and interest. Even a small rate difference can change the monthly payment over the life of the loan.
Why Your Actual VA Mortgage Payment May Be Different
A VA mortgage calculator is useful for planning, but the final payment for a specific property can change as your actual loan terms and property expenses become known.
Interest Rate
Your final locked mortgage rate determines your actual principal-and-interest payment.
Property Taxes
The property's actual tax amount may differ from an estimated percentage entered into a calculator.
Insurance
Your homeowners insurance quote determines the actual insurance portion of the housing expense.
Funding Fee Status
Your VA benefit use, down payment and exemption status determine whether a funding fee applies and the applicable percentage.
Want to Know How Much Home You Can Afford?
A VA payment calculator estimates the payment for a particular home price. It does not determine the maximum mortgage amount you may qualify for.
If you're still deciding on your target home price, use our home affordability calculator to estimate your potential buying power based on income, monthly debts and other financial factors.
Home Affordability CalculatorPayment vs. Affordability
VA Mortgage Payment Calculator:
“What might my payment be on this home?”
Home Affordability Calculator:
“How much home might I be able to afford?”
Using both tools can help you narrow your home search before requesting a personalized mortgage review.
VA Mortgage Calculator FAQs
How do I calculate my VA mortgage payment?
Start with the total amount financed, mortgage interest rate and loan term to calculate principal and interest. Then add estimated property taxes and homeowners insurance. HOA dues should also be considered when applicable. If you finance a VA funding fee, the fee increases the total loan amount used to calculate principal and interest.
Does a VA mortgage payment include property taxes?
Property taxes are not principal or interest, but they are commonly included in the total monthly housing payment and may be collected through an escrow account.
Does a VA mortgage payment include homeowners insurance?
Homeowners insurance is generally part of the total monthly housing expense. The actual premium depends on the property, coverage, deductible and insurance provider.
Do VA loans have PMI?
No. VA loans do not require monthly private mortgage insurance. A one-time VA funding fee may apply unless the borrower qualifies for an exemption.
What is the VA funding fee?
The VA funding fee is a one-time charge associated with many VA-backed loans. For purchase loans, the percentage can depend on the borrower's down payment and whether the VA home loan benefit has been used before. Certain eligible borrowers are exempt.
Can the VA funding fee be financed into the mortgage?
Yes. The VA funding fee can generally be financed into the mortgage rather than paid entirely in cash at closing. Financing it increases the total loan amount and therefore affects principal and interest.
Who is exempt from the VA funding fee?
Certain Veterans receiving or eligible to receive VA compensation for a service-connected disability, certain surviving spouses, certain service members with qualifying pre-discharge ratings, and certain active-duty Purple Heart recipients may be exempt. Eligibility should be verified using current VA documentation.
Can I get a VA loan with no down payment?
Eligible borrowers may be able to obtain a VA-backed purchase loan without a required down payment, subject to VA and lender requirements and the value of the property.
Does making a down payment lower the VA funding fee?
It can. For current VA purchase loans, a down payment of at least 5% reduces the applicable funding-fee percentage for a non-exempt borrower, and a down payment of at least 10% reduces it further.
Are HOA dues included in a VA mortgage payment?
HOA dues are not part of the mortgage loan payment itself, but required HOA dues can affect your total monthly housing expense and should be considered when comparing properties.
Can I use this calculator to determine how much VA loan I qualify for?
The calculator estimates a mortgage payment based on the information entered. It does not determine mortgage qualification. VA loan qualification involves review of income, credit, debts, assets, residual income, eligibility and other underwriting requirements.
VA Home Loan Guidance for Kansas & Missouri
Metropolitan Mortgage Corporation helps eligible Veterans, active-duty service members and other qualified borrowers compare VA mortgage options throughout Kansas and Missouri.
A personalized VA mortgage review can account for your eligibility, funding-fee status, actual property taxes, insurance, mortgage rate and other factors that a general online calculator cannot fully evaluate.
Mortgage Content Review
Rick Woodruff
Mortgage Loan Officer
NMLS #248984
Calculator results and examples are for educational and planning purposes only and are not a loan approval, credit decision or commitment to lend. VA eligibility and loan terms are subject to applicable program and underwriting requirements.
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