Free VA Loan Calculator — Funding Fee & Payment
Published: 13 November 2026 · Updated: 13 November 2026
Enter the home price and see instantly what a VA loan really costs — your monthly payment, the one-time VA funding fee for your use tier and down payment, and the total interest over the life of the loan. $0 down, no PMI, and most veterans roll the fee into the loan.
On a $450,000 home with $0 down, a first-time VA borrower pays about $2,905 a month at 6.5% over 30 years — and no PMI, ever. The funding fee is 2.15% ($9,675) for first use, usually rolled into the loan; veterans receiving VA disability compensation pay $0. With full entitlement there is no VA loan limit, and a 5% down payment cuts the fee to 1.5%.
Researched by MixKhazana Team · Last updated 13 November 2026 · Data: U.S. Department of Veterans Affairs — funding fee and closing costs (rates effective 7 April 2023, VA Circular 26-23-06, still in force 2026); 2026 conforming loan limit $806,500 (FHFA)
How to use
- Enter the home price and your down payment — $0 is normal for a VA loan, but 5% or 10% cuts the funding fee.
- Choose your VA loan use (first or subsequent) and tick the exemption box if you receive VA disability compensation or qualify another way.
- Enter your interest rate and loan term — 30 years is standard, 15 years saves the most interest.
- Click Calculate My VA Loan to see your funding fee, monthly payment and total cost over the life of the loan.
How it works
A VA loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs for eligible veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses. The guarantee — up to 25% of the loan — is what lets lenders offer the terms no other loan matches: $0 down payment, no private mortgage insurance (PMI), and no VA loan limit with full entitlement. Eligibility is confirmed with a Certificate of Eligibility (COE), which a lender can usually pull in minutes, and the home must be your primary residence. The standard mortgage payment calculator shows the same maths without the VA fee structure, for comparison.
The one cost unique to VA loans is the funding fee: a one-time charge, set by federal law, that funds the program instead of monthly mortgage insurance. For purchase loans the 2026 schedule (VA Circular 26-23-06, effective 7 April 2023 and still in force) is 2.15% for first use and 3.3% for subsequent use with less than 5% down; 1.5% for both at 5% to 9.99% down; and 1.25% for both at 10% or more down. The fee is a percentage of the loan amount, not the price, and most buyers roll it into the loan — financing a $9,675 fee on a $450,000 home adds about $61 a month to the payment, versus paying it in cash at closing. Veterans receiving VA disability compensation (even a 10% rating), active-duty Purple Heart recipients and surviving spouses receiving DIC pay $0.
The monthly payment is the standard amortization formula: the loan amount times the monthly rate times the compounding factor, divided by the factor minus one. What the payment does not include matters as much as what it does: property tax, homeowners insurance, HOA dues and flood insurance are extra, and a lender's quote will show them as escrow. Two more VA advantages: the loan is assumable — a qualified buyer can take over your rate, a real selling point if rates rise — and if rates fall, the IRRRL streamline refinance lets you refinance with almost no paperwork and a 0.5% fee. The VA sets no minimum credit score by law; most lenders look for 620–640, and the VA's residual-income test (money left after the mortgage and living costs) carries as much weight as the score.
Worked example
A first-time VA buyer purchases a $450,000 home with $0 down at 6.5% over 30 years:
- Base loan: $450,000 − $0 down = $450,000
- Funding fee: $450,000 × 2.15% = $9,675 (first use, under 5% down)
- Total loan (fee financed): $450,000 + $9,675 = $459,675
- Monthly principal + interest: $2,905.46
- Total paid over 30 years: $1,045,965.13
- Total interest: $1,045,965.13 − $459,675 = $586,290.13
- Same home, subsequent use: fee 3.3% = $14,850, payment $2,938.17
- Same home, 10% down ($45,000): fee 1.25% = $5,062.50, payment $2,591.87
Compare that with a conventional loan at the same price with 3% down: PMI alone typically adds $100–$300 a month until the loan-to-value ratio drops below 80%. Try your own price, down payment and rate in the widget above.
The 2026 VA funding fee table at a glance
| Down payment | First use | Subsequent use |
| Less than 5% | 2.15% | 3.30% |
| 5% to 9.99% | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
| Cash-out refinance | 2.15% | 3.30% |
| IRRRL streamline refinance | 0.50% | 0.50% |
| Exempt (disability / Purple Heart / DIC spouse) | $0 | $0 |
Sources: U.S. Department of Veterans Affairs — VA funding fee and closing costs (rates effective 7 April 2023, VA Circular 26-23-06; published charts run through 14 November 2031); Federal Housing Finance Agency — 2026 conforming loan limit $806,500.
Frequently asked questions
Who is eligible for a VA home loan?
VA loans are for eligible veterans, active-duty service members, National Guard and Reserve members, and certain surviving spouses. The usual service bar is 90 consecutive days of active duty during wartime, 181 days during peacetime, or 6 years in the Selected Reserve or National Guard. Eligibility is confirmed with a Certificate of Eligibility (COE) from the VA, which your lender can usually pull in minutes. The home must be your primary residence.
What is the VA funding fee in 2026?
The VA funding fee is a one-time charge that keeps the loan program running without monthly mortgage insurance. For purchase loans in 2026 it is 2.15% of the loan amount for first-time use with less than 5% down, and 3.3% for subsequent use. A 5% down payment cuts both to 1.5%, and 10% down cuts both to 1.25%. The fee is usually rolled into the loan balance, and the rates are set by federal law (VA Circular 26-23-06, effective 7 April 2023, still in force).
Who is exempt from the VA funding fee?
You pay no funding fee if you receive VA compensation for a service-connected disability (even a 10% rating qualifies), if you are entitled to receive it but take retirement pay instead, if you are an active-duty Purple Heart recipient, or if you are a surviving spouse receiving Dependency and Indemnity Compensation (DIC). If your disability award is granted after closing with an effective date before the closing date, the fee can be refunded.
Do VA loans have PMI?
No. VA loans never carry private mortgage insurance or a monthly mortgage insurance premium, even with $0 down — the one-time funding fee replaces it. That is the VA loan's biggest monthly advantage over a conventional loan with less than 20% down, where PMI typically adds $100–$300 a month until the loan-to-value ratio drops below 80%.
Is there a VA loan limit in 2026?
With full entitlement there is no VA loan limit — you can borrow as much as the lender will approve, with $0 down. A county loan limit applies only when you have partial entitlement (for example, you still have an active VA loan on another home). The 2026 conforming loan limit of $806,500 is the usual reference point for partial-entitlement cases. The VA guarantees up to 25% of the loan, which is what lets lenders offer $0 down.
Can I use my VA loan benefit more than once?
Yes — the benefit is reusable. You can use it again after paying off a previous VA loan and selling the home, or keep one VA loan and use remaining entitlement for a second home in some cases. Each reuse after the first carries the higher subsequent-use funding fee (3.3% with less than 5% down), unless you put 5% or 10% down, which cuts it to 1.5% or 1.25%. If your only previous VA use was for a manufactured home, you still qualify for the first-time fee.
What is a VA IRRRL (streamline refinance)?
The Interest Rate Reduction Refinance Loan (IRRRL) is the VA's streamline refinance: it lets you refinance an existing VA loan to a lower rate with almost no paperwork — no appraisal, no income verification and no out-of-pocket costs in most cases. The funding fee is just 0.5% of the loan amount. It must lower your rate or your payment (or move you from an adjustable to a fixed rate), and you must already have a VA loan to use it.
What credit score do I need for a VA loan?
The VA sets no minimum credit score by law — eligibility is about service, not credit. In practice most VA-approved lenders require a score of 620 to 640, though some accept lower scores with compensating factors such as a strong residual income or a down payment. The VA's residual-income test — money left over after the mortgage and living costs — matters as much as the score, and it is why some borrowers with modest credit still get approved.