VA Loan Calculator
Calculate VA loan payments, entitlement, and funding fees for veterans and service members
VA Loan Specification
Total purchase price of the property
First-time users have full entitlement available
0.0% of home value
Typically 15 or 30 years
VA loan rates are typically competitive
Disabled veterans and Purple Heart recipients may be exempt
VA Loan Results
Debt-to-Income (DTI) Ratio Calculator
Example VA Loan Calculation
First-Time VA Loan User
Home Value: $300,000
Down Payment: $0 (0%)
Loan Amount: $300,000
Interest Rate: 6.5% for 30 years
Funding Fee: 2.3% = $6,900
Calculation Results
VA Guaranty: $75,000 (25% of loan)
Net Loan Cost: $306,900 (includes funding fee)
Monthly Payment: ~$1,940 (P&I only)
Total Monthly (PITI): ~$2,190
Benefits: No down payment, no PMI, competitive rate!
VA Loan Benefits
No Down Payment
Buy a home with $0 down
Up to county loan limits
No PMI Required
Save hundreds monthly
Unlike conventional loans
Competitive Rates
Lower than conventional loans
Government-backed guarantee
VA Loan Eligibility
Veterans with honorable discharge
Active-duty service members (6+ months)
National Guard/Reserves (6+ years)
Eligible surviving spouses
Note: You'll need a Certificate of Eligibility (COE) and meet lender credit/income requirements.
Understanding VA Loans
What is a VA Loan?
A VA loan is a mortgage program backed by the U.S. Department of Veterans Affairs, designed specifically for eligible veterans, active-duty service members, and their surviving spouses. The VA doesn't lend money directly but guarantees a portion of the loan, allowing lenders to offer favorable terms.
Key Features
- •No down payment required (with full entitlement)
- •No private mortgage insurance (PMI)
- •Competitive interest rates
- •No prepayment penalties
VA Entitlement Explained
VA entitlement is the amount the VA will guarantee on your loan. It's not a loan limit, but rather the portion the VA will cover if you default. There are two types:
Basic Entitlement:
$36,000 or 25% of loans up to $144,000
Bonus Entitlement:
25% of county loan limit minus basic entitlement for loans over $144,000
Good News: With full entitlement, there's no limit on how much you can borrow, as long as you qualify with the lender!
Funding Fee Information
The VA funding fee helps keep the program running for future veterans. The fee varies based on:
- •First-time vs. subsequent use
- •Down payment amount
- •Military service category
- •Disability status (exemptions apply)