VA Loan Calculator

The VA loan calculator below provides your estimated monthly mortgage payments with a VA loan.

Calculate your VA loan payment:

    1. 7.57% APR Estimated rate, yours may differ.
      Chat with a LO for an Accurate Rate Quote ›
    2. VA Purchase Loan
    3. Regular Military
    4. Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Your Loan Officer can help you determine property tax rates in your area.
    5. Annual homeowners insurance is typically 0.35% of the home's value but can vary based on insurer.
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Your Estimated
Monthly Payment:

82,808686

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See what you qualify for →
  • Principal & Interest
    81,878084
  • Taxes
    828580
  • Insurance
    8783
  • VA Funding Fee
    8389

Loan Totals:

  • Purchase Price $250,000
  • Down Payment $0
  • VA Funding Fee
    85,878580
  • Total Loan Amount
    828585,878580

How payments change over time

The amounts that go toward your principal and interest will change over the life of the loan. As the loan progresses, your principal payments will increase while the interest portion decreases. Get a more personalized quote

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Last Payment
July 2052

As of August 2022

  • Principal Paid
  • Interest Paid
  • Remaining Loan Balance

VA loan amortization breakdown

This chart breaks down each payment and shows how much is going toward the principal and interest. Get a more personalized quote

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Last Payment
July 2052
Date Principal Interest Remaining Balance
Date Principal Interest Remaining Balance

Ready to see a more personalized quote?

See what you qualify for →
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See Payment Breakdown
VA Loan calculator

Learn More About How to Use the VA Loan Calculator

There are times in life when taking on large home loans makes sense. Whether buying a new home or renovating an old primary residence, the home value you generate from your home is worth every penny.

Thanks to your service in the U.S. Armed Forces, you may qualify for additional assistance when applying for home loan programs. VA loans exist to help eligible veterans and service members get home financing in areas with no private financing and purchase property with no down payment.

Why Should I Use the VA Loan Calculator?

Applying for a VA home loan is a complex and lengthy process. If you aren’t sure what size of loan you can qualify for and monthly mortgage payment, using a VA loan calculator can give you realistic expectations going into the process.

Our VA Loan Calculator gives you your typical monthly payments through the duration of the loan. It also shows how much interest you can expect to pay and full monthly and yearly amortization schedules. Hence you get to estimate your monthly payment on a loan amount and the interest rate before applying for such a loan. The attached graph gives you a visual representation of your loan’s expected progress.

Why Should I Use The VA Loan Calculator?
How Does A Loan Calculator Work?

How Does a Loan Calculator Work?

Our VA loan calculator takes your data and applies mathematical equations commonly used by financial institutions all over the United States. While this will give you a fair estimate of how much you’ll pay and the rate you’ll gain equity, other factors may change the results.

Factors such as VA eligibility, VA funding fee, loan type, property tax rates in your community, mortgage insurance, the loan term, and interest rates can all affect the final results. To get a specific quote, it’s helpful to speak with a VA-approved lender who can provide you with more detailed information about your state and county.

VA One-Time Construction Loan

The VA one-time close construction loan is a home loan program that allows fully eligible veterans and active duty service members to carry out the construction financing and mortgage of a home with a single loan.

How Is the VA OTC Loan Calculated?

For lenders to understand how the VA construction loan is calculated, we will give an assumed analysis using the information below.
Rate of 7.125%,

  • Cost to Construct at $570,000
  • 5% contingency ($28,500)
  • $30,000 in seller concession
  • No Lot of purchase/payoff
  • The lot Value is $60,000
  • 12 Months needed to complete the project
  • 5 Draws required during construction (the 5th draw being the final one when the home is completed)

Our admin fee on the VA and USDA loans has been reviewed to no longer include warehouse interest or hedge costs. Instead, we include principal and interest payments during the construction period. We will apply this monthly payment to the mortgage, meaning the veteran in this example will have only 29 years left on their mortgage and a lower payoff due when construction is completed in 12 months.

A $60,000 administration fee paid comprises:

  • $55,663 for 12 months of P*I payments (@$4638.55 per month)
  • $1,500 for warehouse draw fees (5 draws at $300 per)
  • $750 for inspections (5 inspections at $150 per)
  • $2,575 for AFR operation costs (this is calculated at $200 per month plus any warehouse interest on initial disbursements (land purchase/payoffs, seller concessions) we are charged)

Total is $60,488. AFR lowers the amount to the nearest $500, so in this case, our ADMIN fee is $60,000

Based on these assumptions, the total contract price is $688,500. Calculated by adding:

  • $570,000 construction cost
  • $28,500 Contingency
  • $30,000 in seller concessions
  • $60,000 admin fee 
  • Purchase price on the app is $748,500 ($688,500 + $60,000 lot value)

The base loan amount requested is $688,500 (obviously, this can go up or down depending on the veteran’s wishes).

Meaning of Terms You'll Come Across
Using the VA Calculator

Home Value

Home value is the home's estimated purchase or refinance price, excluding a down payment.

Down Payment

The down payment is a percentage of the principal paid upfront. However, down payments are not required for VA loans, and most veterans go for a $0 down payment. But if you choose to make a down payment, it will reduce the funding fee and your total monthly payment amount.

Interest Rate

The interest rate is the amount charged for borrowing. The interest rates embedded in the loan calculator include APR. Thus, it estimates the closing cost, fees, and actual cost of borrowing. The interest rate in the calculator may differ as it is only for educational purposes.

Loan Duration

The loan duration is the years you estimate to repay the loan - usually 15 or 30 years fully.

Credit Score

Your credit score determines how much eligibility you have, and it's among the factor that influences the interest rate you receive.

Loan Type

You can get both purchase and refinance options with VA loans. Depending on the VA loan type you select, the calculations differ due to the VA funding fee.

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va loan calculator
va loan calculator