VA Loan Calculator

min 3.5%
years fixed
15 30

Monthly cost breakdown

Total cost breakdown

Monthly payment:

How is my monthly payment calculated?

Principal and Interest
Property Tax
Homeowners Insurance
Total payment:

How is my total payment calculated?

Funding fee 
Principal and Interest
Property Tax
Homeowners Insurance
Estimated Payoff
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VA Loan Calculator

A VA loan can offer the opportunity to purchase a home with a low down payment or even no down payment at all. If you are eligible and qualify, this could be the right loan for you.

VA Loan Eligibility

VA loans are available to veterans and other specific classes of military members*, including:

* Minimum term of service required
A Certificate of Eligibility (COE) is required for a VA loan to be approved. Your lender can easily obtain this for you online through the VA’s automated system, or you may be able to simply provide your DD-214 form.

Qualifying for a VA Loan

The VA has established no minimum credit score, but lenders may require a score of 620 or higher. VA loan applicants must have paid obligations on time for at least the most recent 12 months. Debt-to-income (DTI) ratios are preferred to be less than 41%, but residual income may allow for recalculation of your DTI.

Mortgage Calculator Terms

Our mortgage payments calculator can help you quickly estimate the monthly mortgage payments for your new home, including taxes, insurance and PMI. Here’s the info you’ll need to enter into the mortgage calculator:
Home Price

Enter the purchase price of the home you want to buy. You can also enter the amount that you think you will offer.

Down Payment

With a VA loan, depending on your credit, you may have a very low down payment or no down payment at all.

Interest Rate

Enter a realistic interest rate. Base interest rates will vary by lender, your credit score, and your loan term.

Loan Term

VA loans are typically set for 30 years, although some military members prefer a shorter term of 15 to 20 years.

Property Tax

Enter your estimated property tax, if you know it. This is the assessed value of the home times the local tax rate.

Home Insurance

Enter your estimated home insurance cost, if you know it. This is typically based on home value and location.

Monthly Private Mortgage Insurance

Unlike other types of loans, VA loans don’t require PMI payments even if the down payment is zero.

HOA Dues

If you buy a home in a neighborhood with a homeowners association (HOA), you'll have to pay monthly or annual dues.

Additional Principal Payment

If you plan on paying extra on your mortgage each month, enter the amount to apply towards your loan principal.

Additional Free Tools

Use our free mortgage calculator tools to estimate your monthly mortgage payments based on your unique loan scenario. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

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