Veterans and active-duty borrowers can enter a home price, down payment, rate, and term to see the VA funding fee — set by down payment size and first-use status — plus the total financed loan amount and monthly payment.

How to Use the VA Mortgage Calculator

Home price, down payment percentage, rate, and term set up the loan; the First Use / Subsequent Use toggle and the funding-fee exemption checkbox determine which fee percentage — if any — gets financed into the loan.

VA loans are a benefit earned through military service, guaranteed by the Department of Veterans Affairs rather than insured through a monthly premium the way FHA loans are. That's a real, tangible difference: a VA loan typically carries no monthly mortgage insurance at all, first use or fifth, regardless of down payment size — the ongoing cost that quietly inflates an FHA payment for years just doesn't exist here.

In its place sits a one-time funding fee, financed into the loan the same way FHA's upfront premium is:

Funding Fee Amount = (Home Price − Down Payment) × Funding Fee %
Total Loan Amount = (Home Price − Down Payment) + Funding Fee Amount

The fee percentage depends on two things: whether this is your first VA-backed loan or a later one, and how much you're putting down. Down payments of 5% or more, or 10% or more, land on the same fee tier regardless of first or subsequent use — 1.50% and 1.25% respectively. The only place first-use status actually changes the number is below 5% down, where a first-time borrower pays 2.15% and a repeat borrower pays a noticeably steeper 3.30%.

Veterans receiving VA disability compensation for a service-connected condition are exempt from the funding fee entirely — check the exemption box and the fee drops to zero, leaving just the base loan amount to finance.

This calculator prices VA purchase loans specifically. Refinances under the VA's Interest Rate Reduction Refinance Loan (IRRRL) program run on a different, generally lower funding fee schedule not modeled here.