How it works
Calculate VA loan payments including the VA Funding Fee. VA loans typically require no down payment and no PMI.
Input query strings and outputs
Use an input name in this page’s URL as ?name=value, and join additional inputs with &. Portable shared links may instead use the compact ?ac= state parameter.
Input query strings
5-
?price=Home PriceNumber · Optional · Default: 350,000
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?downPayment=Down PaymentNumber · Optional · Default: 0
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?rate=Interest RateNumber · Optional · Default: 6
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?term=Loan Term (Years)Number · Optional · Default: 30
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?fundingFeeRate=VA Funding FeeNumber · Optional · Default: 2.15
Outputs
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resultResultText · Primary output
result contains the calculator’s complete rendered result area, including its visible result cards, tables, charts, and messages.
Calculate 0% down mortgage payments for Veterans
Description
The VA Mortgage Calculator is an essential tool for US Veterans, active-duty service members, and eligible surviving spouses. It highlights the unique benefits of VA-backed loans, specifically the ability to purchase a home with $0 down payment and no monthly private mortgage insurance (PMI). It also calculates the “VA Funding Fee,” a one-time charge that helps sustain the program.
Inputs
- Home Price: The total purchase price of the property ($).
- Down Payment: Your initial cash contribution ($). (Note: VA loans allow for $0 down).
- Interest Rate: The annual interest rate (%).
- Loan Term (Years): The length of the mortgage (typically 15 or 30 years).
- VA Funding Fee: The percentage fee charged by the VA (%).
- Tip: 2.15% is standard for first-time use with 0% down.
Outputs
- Monthly Principal & Interest: Your basic monthly mortgage installment.
- VA Funding Fee (Financed): The one-time fee amount that is added to your total loan balance ($).
- Total Loan Amount: The final amount borrowed (Price - Down Payment + Funding Fee).
Chart
- N/A: This tool focuses on communicating the specialized benefits of VA financing.
“Good to Know”
- One of the biggest advantages of a VA loan is the total absence of monthly PMI, even with $0 down payment. This can save you hundreds of dollars per month compared to FHA or conventional loans.
- The VA Funding Fee can be waived for Veterans with service-connected disabilities.
- VA loans are “assumable,” meaning if you sell your home, the buyer can sometimes take over your low-interest rate loan if they also qualify.
Examples
Example 1: Zero Down Purchase
- Input:
- Price: $350,000
- Down: $0
- Rate: 6.0%, Funding Fee: 2.15%
- Output:
- Funding Fee: ~$7,500
- Total Loan: ~$357,500
- Monthly P&I: ~$2,143
Example 2: Disabled Veteran (Fee Waived)
- Input:
- Funding Fee: 0%
- Output:
- Highlights the significant savings when the funding fee is waived.
Example 3: Second Time Use
- Input:
- Funding Fee: 3.3% (Common for subsequent use)
- Output:
- Shows how the higher funding fee for repeat users impacts the total loan balance.