VA Loan Calculator
Calculate your VA loan payment with $0 down. No PMI required. Estimate your VA funding fee and monthly payments for veteran home loans.
Understanding VA Loans
What is a VA Loan?
A VA loan is a mortgage backed by the U.S. Department of Veterans Affairs, available to veterans, active-duty service members, and eligible surviving spouses. Key benefits include zero down payment, no PMI, competitive interest rates, and limited closing costs.
VA Funding Fee
Most VA loans require a one-time funding fee (which can be rolled into the loan). For first-time use with no down payment, the fee is 2.15% for regular military and 2.4% for reserves. Veterans with service-connected disabilities are exempt from the funding fee.
VA vs Conventional Loans
VA loans offer zero down payment and no monthly PMI, potentially saving thousands per year. VA rates are typically 0.25-0.5% lower than conventional rates. The main cost is the one-time funding fee, which is still usually cheaper than years of PMI payments.