# What will my VA loan payment be?

Computes the monthly payment on a VA home loan with the VA funding fee, property tax, home insurance, and HOA dues, with the full amortization schedule.

- Page: https://www.acalculator.org/finance/va-loan-calculator
- JSON spec: https://www.acalculator.org/finance/va-loan-calculator.json
- Version: 20d2af01e549

## Default answer

Example with the default inputs (Home price $350,000.00, Down payment $0.00, Interest rate 6%, Loan term (years) 30, VA loan benefit First use, Funding fee Add to the loan, Property tax (per year) 1.1%, Home insurance $1,500.00, HOA dues $0.00, Loan start date September 30, 2026) on the example date Wednesday, September 30, 2026: A VA loan of $357,525.00 at 6% over 30 years costs $2,589.38 a month; the funding fee is $7,525.00.

## Inputs

| Key | Label | Description |
| --- | --- | --- |
| price | Home price | The price of the home. |
| down | Down payment | The cash you pay toward the price. VA loans can need none. |
| rate | Interest rate | The fixed yearly rate. The monthly rate is this ÷ 12. |
| years | Loan term (years) | The length of the mortgage: VA loans run up to 30 years. |
| use | VA loan benefit | First or later use of the VA home loan benefit, or exempt from the funding fee. |
| finance | Funding fee | Add the funding fee to the loan, or pay it in cash at closing. |
| tax | Property tax (per year) | The yearly property tax as a percent of the home price. |
| insurance | Home insurance | The homeowners insurance premium. |
| hoa | HOA dues | Homeowners association or condo dues. |
| start | Loan start date | The day the loan starts. The first payment is one month later. |

## Outputs

| Key | Label | Description |
| --- | --- | --- |
| monthly | Monthly payment | The monthly total: principal, interest, tax, insurance, and HOA dues. |
| pi | Principal and interest | The level monthly payment on the loan. |
| taxes | Property tax | The property tax for one month. |
| insurance | Home insurance | The home insurance for one month. |
| hoa | HOA dues | The HOA dues for one month. |
| fee | VA funding fee | The one-time funding fee: a percent of the base loan from the VA’s table. |
| feeRate | Funding fee rate | The funding fee as a percent of the base loan, by use and down payment. |
| loan | Loan amount | The price minus the down payment, plus the funding fee when it is added to the loan. |
| downPct | Down payment | The down payment as a percent of the price. |
| interest | Total interest | All the interest over the loan. |
| total | Total cost | The down payment, the funding fee if paid in cash, and everything paid over the loan. |

## Method

funding fee = VA rate × the base loan; principal and interest = L × r ÷ (1 − (1 + r)^−n), with L the loan (plus the fee if added), r the rate ÷ 12, and n the months; tax, insurance, and HOA dues are added.

## Assumptions

- Funding fees follow the VA’s table for purchase loans closed from April 7, 2023 (38 U.S.C. 3729), checked September 2026.
- VA loans have no monthly mortgage insurance.
- The rate is fixed, interest is charged monthly at the rate ÷ 12, and the first payment is one month after the start.
- Tax, insurance, and HOA dues stay the same; closing costs are not included; nothing is rounded between months.

## Worked examples

1. price = $350,000.00, down = $0.00, rate = 6%, years = 30, use = first, finance = loan gives fee = $7,525.00, feeRate = 2.15%, loan = $357,525.00, pi = $2,143.54, monthly = $2,143.54.
2. price = $300,000.00, down = $15,000.00, rate = 6.5%, years = 30, use = subsequent, finance = cash, tax = 1%, insurance = $1,800.00 gives feeRate = 1.5%, fee = $4,275.00, loan = $285,000.00, pi = $1,801.39, monthly = $2,201.39.
3. price = $300,000.00, down = $0.00, rate = 6%, years = 30, use = subsequent, finance = loan gives feeRate = 3.3%, fee = $9,900.00, loan = $309,900.00, pi = $1,858.01. Source: 38 U.S.C. 3729 and the VA funding fee table: 3.3% for a later use with less than 5% down.
4. price = $300,000.00, down = $0.00, rate = 6%, years = 30, use = exempt, finance = loan gives feeRate = 0%, fee = $0.00, loan = $300,000.00, pi = $1,798.65.
5. price = $300,000.00, down = $30,000.00, rate = 0%, years = 30, use = first, finance = loan gives feeRate = 1.25%, fee = $3,375.00, loan = $273,375.00, pi = $759.38, interest = $0.00.

## FAQ

### What is the VA funding fee?

A one-time fee most VA borrowers pay, as a percent of the loan. For a first use it is 2.15% with less than 5% down, 1.5% with 5% or more, and 1.25% with 10% or more. After a first use it is 3.3% with less than 5% down. These are the VA's rates for purchase loans closed from April 7, 2023.

### Who is exempt from the VA funding fee?

Veterans who receive VA compensation for a service-connected disability, surviving spouses who receive Dependency and Indemnity Compensation, and service members with a Purple Heart, among others. Your certificate of eligibility shows whether you are exempt.

### Do VA loans need a down payment?

Often no. The VA guarantees part of the loan, so many lenders lend the full price. A down payment of 5% or 10% lowers the funding fee and the loan.

### Do VA loans have mortgage insurance?

No. VA loans have no monthly mortgage insurance, even with no down payment. The funding fee takes its place and is paid once.

### Should I add the funding fee to the loan?

Adding it means no extra cash at closing, but you pay interest on it for the whole loan. On a $350,000 home with no down payment, the $7,525 fee adds about $45 a month at 6% over 30 years.

### What else do I pay at closing on a VA loan?

Closing costs such as the appraisal, title, and recording fees, which this page does not include. The VA limits some fees lenders may charge; your Loan Estimate lists them.

## Sources

- U.S. Department of Veterans Affairs, VA funding fee and loan closing costs (rates for loans closed on or after April 7, 2023; exemptions). https://www.va.gov/housing-assistance/home-loans/funding-fee-and-closing-costs/
- 38 U.S.C. 3729, Loan fee (the fee table and exemptions). https://www.law.cornell.edu/uscode/text/38/3729
- Amortized loan payment (annuity) formula: S. A. Broverman, Mathematics of Investment and Credit, chapter 3.