Sigma Calculator — 80+ Free Tools
Buying a home with your VA home loan benefit? Our free VA Mortgage Calculator gives veterans, active-duty service members, and eligible surviving spouses an instant, accurate estimate of their monthly VA loan payment — including the VA funding fee that most generic mortgage calculators leave out. In under a minute, you’ll see your financed funding fee, your total loan amount, and your monthly principal-and-interest payment, so you can set a realistic budget before you ever speak with a lender.
Here’s how to use the calculator:
Reading your results is straightforward. VA Funding Fee shows the dollar cost of the fee and the percentage applied to your base loan amount. Total Loan Amount is your base loan (price minus down payment) plus the fee, since most borrowers finance it rather than paying cash at closing. Monthly P&I Payment is your principal-and-interest payment — the core of your mortgage bill. A note beneath the table reminds you that VA loans carry no PMI, and that veterans with service-connected disabilities may be exempt from the funding fee entirely.
A few pro tips: run the numbers with both 30-year and 15-year terms to see the trade-off between payment size and total interest; re-run the calculation whenever your quoted rate changes, because even a quarter point moves the payment noticeably; and remember the calculator shows principal and interest only — property taxes, homeowners insurance, and HOA dues will be added to your true monthly housing cost.
A VA loan is a home mortgage guaranteed by the U.S. Department of Veterans Affairs. The VA doesn’t lend you the money directly — instead, it guarantees a portion of the loan made by a private lender. That guarantee lets lenders offer eligible borrowers some of the most generous terms in the mortgage market: zero down payment, no PMI, competitive interest rates, no prepayment penalties, and caps on the closing costs you can be charged.
Eligibility extends to veterans who meet minimum active-duty service requirements, current active-duty service members (generally after 90 continuous days), National Guard and Reserve members (typically six years of service, or 90 days of active duty), and certain surviving spouses of veterans. Your certificate of eligibility — the COE — is the VA’s official document proving you meet the service requirements. You can request it online through VA.gov, ask your lender to pull it for you in minutes, or apply by mail with VA Form 26-1880. Most lenders can retrieve it electronically, so getting your COE is rarely a bottleneck if you start early.
The VA funding fee is a one-time charge, calculated as a percentage of your loan amount, that keeps the VA loan program self-funding. For a first-time buyer putting 0% down, the fee is 2.15% of the base loan; it drops to 1.5% with a down payment of 5% or more and 1.25% with 10% or more down, while subsequent use of the benefit carries higher percentages. You may pay the fee in cash at closing, but most borrowers roll it into the loan — which is exactly what this calculator does. Importantly, several groups are exempt from the fee altogether: veterans receiving VA compensation for a service-connected disability (or entitled to it but for retirement pay), Purple Heart recipients serving on active duty, and surviving spouses of veterans who died in service or from a service-connected disability.
The headline advantage most buyers notice is no PMI. Conventional borrowers putting less than 20% down typically pay private mortgage insurance of 0.5% to 1% of the loan per year, and FHA borrowers pay mortgage insurance premiums too. VA borrowers pay neither, which can save hundreds of dollars every month compared with a low-down-payment conventional or FHA loan. Add in the VA’s limits on origination fees and closing costs, assumable loans, and flexible credit guidelines, and it’s clear why the VA program is often called the best home loan deal in America for those who’ve served.
On loan size: borrowers with full entitlement face no county loan limit on 0%-down purchases, so in most markets you can finance the full price of the home. If you’ve used part of your entitlement on a prior VA loan that you still hold, remaining entitlement and county conforming limits come into play — your lender and your COE will spell out exactly where you stand.
The calculator uses the standard amortizing-loan payment formula, with one VA-specific step: the funding fee is added to the amount borrowed before the monthly payment is computed. The formula is: M = P × r(1+r)n ÷ ((1+r)n − 1), where M is the monthly principal-and-interest payment, P is the total loan amount (home price minus down payment, plus the VA funding fee), r is the monthly interest rate (annual rate ÷ 12), and n is the total number of monthly payments (years × 12).
Take the calculator’s defaults: a $400,000 home, $0 down, 6.5% interest, a 30-year term, and a 2.15% funding fee. First, the base loan is $400,000 − $0 = $400,000. The funding fee is $400,000 × 2.15% = $8,600.00. Add them for a total loan amount of $408,600.00. The monthly rate is 6.5% ÷ 12 = 0.00541667 and the term is 360 payments. Plugging those into the formula gives M = $2,582.63 per month. Press Calculate with the defaults and you’ll see exactly these three figures.
Now consider a $300,000 purchase with 10% down ($30,000), a 6.0% rate, a 30-year term, and a first-time funding fee of 1.25% — the fee drops when you put 10% or more down. The base loan is $300,000 − $30,000 = $270,000. The fee is $270,000 × 1.25% = $3,375.00, giving a total loan of $273,375.00. With r = 0.005 and n = 360, the monthly payment works out to about $1,639.03. Notice how the down payment shrinks both the fee and the payment at the same time.
Marcus, an Army veteran buying his first home, finds a $350,000 house. He puts 0% down, locks a 6.25% rate for 30 years, and — as a first-time VA user — owes the 2.15% funding fee, which he finances. His base loan is $350,000, the fee is $350,000 × 2.15% = $7,525.00, and his total loan is $357,525.00. His monthly principal and interest comes to about $2,201.63. Because he put nothing down, Marcus keeps his savings intact for moving costs and an emergency fund — the classic VA advantage at work.
Elena, a veteran with a 40% service-connected disability rating, is exempt from the VA funding fee. She buys a $425,000 home with 0% down at 6.0% for 30 years. Her fee is $0, so her loan amount stays $425,000.00 and her monthly P&I is about $2,548.22. Had she paid the 2.15% fee, it would have added $9,137.50 to her loan and roughly $57 a month to her payment — the exemption meaningfully stretches her buying power.
Planning the rest of your home-buying budget? These free tools pair well with the VA Mortgage Calculator:
Page summary: This page provides a free VA Mortgage Calculator for veterans, active-duty service members, and eligible surviving spouses. Users enter home price, down payment, interest rate, loan term, and VA funding fee percentage; the tool outputs the VA funding fee, the total loan amount, and the monthly principal-and-interest payment. Key facts: VA loans allow 0% down with no PMI; the standard first-time funding fee is 2.15% of the loan with 0% down; veterans with service-connected disabilities are exempt from the fee; eligibility is proven with a VA Certificate of Eligibility (COE).
A VA mortgage calculator estimates the monthly principal-and-interest payment on a VA home loan. Unlike generic calculators, it includes the VA funding fee — a one-time percentage of the loan that most borrowers finance — so the payment reflects the true loan amount. It also assumes no private mortgage insurance (PMI), which VA loans never require.
For first-time use with 0% down, the VA funding fee is 2.15% of the loan amount. It drops to 1.5% with a 5–10% down payment and 1.25% with 10% or more down. Subsequent use carries higher fees (3.3% with 0% down), while IRRRL refinances carry a 0.5% fee. You can pay the fee in cash at closing or roll it into the loan.
No. One of the biggest VA benefits is 0% down financing for borrowers with full entitlement — you can finance 100% of the home’s price. Making a down payment is optional, but it lowers your funding fee percentage and your monthly payment.
No. VA loans never charge private mortgage insurance, regardless of your down payment. This is a major savings versus conventional loans, which require PMI below 20% down, and FHA loans, which charge mortgage insurance premiums. The VA funding fee replaces PMI as the program’s cost.
Veterans meeting minimum service requirements, active-duty members (generally 90+ continuous days), National Guard and Reserve members (typically six years or 90 days of active duty), and certain surviving spouses qualify. You’ll prove eligibility with a Certificate of Eligibility (COE) from the VA, which most lenders can obtain for you electronically.
Yes. Most borrowers finance the funding fee rather than paying cash at closing — the fee is simply added to the loan balance before the monthly payment is calculated. This calculator rolls it in automatically and shows the fee and total loan amount as separate line items.
Yes. Veterans receiving VA compensation for a service-connected disability — or entitled to it but for retirement pay — are exempt from the funding fee, as are Purple Heart recipients on active duty and qualifying surviving spouses. Enter 0% in the funding fee field to see your exempt payment.
Yes. Your VA benefit is reusable — in some cases you can even hold more than one VA loan at a time, and after paying off or selling a home bought with a VA loan, your entitlement is generally restored for the next purchase. Funding fees are higher for subsequent use unless you make a down payment.
Cite this page as:
APA: SigmaCalculator.net. (2026). VA mortgage calculator. https://sigmacalculator.net/financial-calculators/va-mortgage-calculator/
MLA: “VA Mortgage Calculator.” SigmaCalculator.net, 2026, https://sigmacalculator.net/financial-calculators/va-mortgage-calculator/.
Chicago: SigmaCalculator.net. “VA Mortgage Calculator.” Accessed October 8, 2026. https://sigmacalculator.net/financial-calculators/va-mortgage-calculator/.
Last updated: October 8, 2026