Va Loan Calculator
Use our free Va loan Calculator to plan your loans & mortgages strategy. Get detailed breakdowns, charts, and actionable insights.
Reviewed for accuracy by Sahil, Senior Finance & Tax Editor
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Formula: M = P[r(1+r)^n]/[(1+r)^n-1] | VA Funding Fee: 2.15% (first use, 0% down) or 3.3% (subsequent)
Worked example — $2,143.85/mo + taxes & insurance
M = P[r(1+r)^n]/[(1+r)^n-1] | VA Funding Fee: 2.15% (first use, 0% down) or 3.3% (subsequent)
VA loans require no PMI and no down payment. Instead, a VA funding fee is added to the loan (2.15% first use with 0% down, 3.3% subsequent use). Disabled veterans may be exempt from funding fee.
Problem:$350,000 home, 0% down, 6%, 30yr, first use
Solution:Funding fee: $7,525 (2.15%). Loan: $357,525. P&I: $2,143.85/mo
Result:$2,143.85/mo + taxes & insurance
Yes, VA loans allow 100% financing (no down payment required). This is one of the biggest benefits of VA loans.
VA loans are available to active duty service members (90+ days), veterans with honorable discharge, National Guard and Reserve members (6+ years of service or 90+ days active duty), and surviving spouses of service members who died in the line of duty or from service-connected disability. Eligibility is determined by a Certificate of Eligibility (COE), which your lender can usually obtain directly from the VA system online.
Since 2020, VA loans have no official loan limit for eligible borrowers with full entitlement (no existing VA loans or prior foreclosures). Lenders still set maximum loan amounts based on income, credit score, and debt-to-income ratios, typically following conforming loan limits as a guideline. Borrowers with reduced entitlement (e.g., an existing VA loan) may face limits and may need a down payment to cover the gap above their available entitlement.
Reviewed for accuracy by Sahil, Senior Finance & Tax Editor · Editorial policy
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