How to calculate va mortgage
Base loan = home price − down payment Funding fee = base loan × applicable funding fee rate Financed balance = base loan + funding fee (if financed) Monthly P&I = P × r ÷ (1 − (1 + r)^−n) Monthly total = P&I + yearly tax/12 + yearly insurance/12 + HOA
Worked example. Estimated VA monthly payment: $3,074.30 / month.
Example inputs — Home price: $400,000; Down payment: $0.00; Interest rate: 6.5%; Loan term: 30 years; VA funding fee status: First use; Funding fee payment: Finance into loan; Property tax per year: $4,400; Insurance per year: $1,500; HOA per month: $0.00. Starting values are illustrative.
Purchase loans only. Confirm eligibility and funding-fee exemption with your lender. No monthly PMI is included.
From George Guju, founder of Calculyn · Educational calculator guidance, not professional advice.
How it works
A VA purchase loan uses ordinary fixed-rate amortization but does not require monthly private mortgage insurance. A one-time funding fee may apply. This 2026 estimate selects the fee from first or subsequent use and down-payment thresholds; confirmed exemptions remove it. Financing the fee raises the loan balance and interest. Cash payment leaves it outside the loan. Other closing costs are separate.
Official rule sources
VA funding fee and closing cost rules. Confirm your applicable status, assessment and local charges before relying on an estimate.
Assumptions & limitations
- 2026 purchase-loan funding-fee table; effective April 7, 2023–November 15, 2031.
- Interest rate is illustrative, not a current lender quote.
- Fixed-rate monthly amortization; no points, other closing costs or rate changes.
- No monthly PMI. Taxes and insurance are user-entered annual estimates.
Formula and assumptions reviewed October 2026 by the Calculyn team. How we build our calculators
Frequently asked questions
What are the VA funding fee rates in 2026?
For purchase and construction loans, first use below 5% down is 2.15%; subsequent use is 3.3%. At least 5% down is 1.5%, and at least 10% down is 1.25%. These published rates apply April 7, 2023 through November 15, 2031. Other VA loan types have different rules.
Do VA loans have PMI?
VA loans do not require monthly mortgage insurance. A one-time funding fee may still apply unless exempt. Property tax, homeowners insurance and any HOA costs remain separate.
Who is exempt from the VA funding fee?
VA lists qualifying borrowers, including some receiving or eligible for service-connected disability compensation, qualifying surviving spouses and certain active-duty Purple Heart recipients. Do not assume exemption from military service alone; confirm your status with VA and your lender.
Does this check VA loan eligibility?
No. Eligibility, entitlement, underwriting, appraisal and the actual rate require lender and VA confirmation. This estimates a purchase loan, not an IRRRL, cash-out refinance or construction draw schedule.