VA Loan Calculator
VA Loan Payment
Calculate monthly VA loan payment including funding fee
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Formula
Funding Fee = Base Loan × Fee Rate (2.15% first use, 0% down). Total Loan = Base Loan + Funding Fee. Monthly Payment = L[r(1+r)^n]/[(1+r)^n-1].
Frequently Asked Questions
What is the VA funding fee?
The VA funding fee is a one-time fee charged on VA loans to help offset the cost to taxpayers. For first-time use with 0% down, it is 2.15% of the loan amount. It decreases with larger down payments. Veterans with service-connected disabilities are exempt.
Do VA loans require a down payment?
No. VA loans are one of the few loan types that allow 100% financing (0% down payment). However, making a down payment reduces the VA funding fee and lowers your monthly payment.
Why don't VA loans have PMI?
VA loans are guaranteed by the Department of Veterans Affairs, which replaces the need for private mortgage insurance (PMI). The VA funding fee serves a similar purpose but is a one-time charge rather than an ongoing monthly cost.
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