VA Loan Calculator
Calculate VA loan payments including the VA funding fee based on your down payment and service type.
Calculate VA loan payments including the VA funding fee based on your down payment and service type.
VA loans allow 0% down
VA loans are guaranteed by the Department of Veterans Affairs and offer significant benefits: no down payment required, no private mortgage insurance (PMI), and competitive rates. The trade-off is a one-time VA Funding Fee (0–3.3% of the loan), which most borrowers roll into the loan. Veterans with a service-connected disability rating are fully exempt from the funding fee.
Funding Fee = Loan Amount × Rate | Rate depends on: down payment tier + first/subsequent use | Total Loan = Base + Funding FeeA $350,000 VA loan at 0% down with first-time use incurs a 2.15% funding fee ($7,525). No PMI vs. conventional saves ~$248/month on a similar loan. Despite the funding fee, the VA loan is almost always cheaper.
Putting 10% down drops the funding fee to 1.25%, saving $3,150 on a $350,000 loan compared to 0% down. With more equity up front, you also lower the monthly payment. Disability-exempt veterans should always use $0 down — the fee is irrelevant.
Funding fee rates per VA schedule (2024): 0% down first use = 2.15%, subsequent = 3.30%; 5–9.99% down = 1.50%; 10%+ down = 1.25%. Disability exemption = 0%. PMI savings comparison uses 0.85% annual conventional PMI.