VA Loan Calculator
Calculate your VA mortgage payment with $0 down, no PMI, and competitive rates.
VA Loan Details
Monthly Payment
| Principal & Interest | $2,516 |
| Property Tax | $400 |
| Home Insurance | $150 |
| Mortgage Insurance | $0 |
VA vs FHA vs Conventional
| Feature | VA | FHA | Conventional |
|---|---|---|---|
| Down payment | $0 (0%) | $14,000 (3.5%) | $20,000 (5%) |
| Upfront fee | $8,600 (2.15%) | $6,755 (1.75%) | $0 |
| Monthly insurance | $0 (no PMI/MIP) | $177/mo (MIP) | $253/mo (PMI) |
| Total monthly | $3,066 | $3,145 | $3,143 |
| Credit score min | No VA minimum (lenders: 580–620) | 580 (3.5% down) | 620–680 typical |
| Loan limit | No limit (with full entitlement) | $498K–$1.15M | $766,550 (conforming) |
VA saves $28,440 over FHA and $27,720 over conventional over the life of the loan.
VA Loan Tips
- 1.VA loans allow $0 down — the biggest advantage over FHA and conventional loans
- 2.VA loans have no private mortgage insurance (PMI) — saving hundreds per month compared to FHA/conventional
- 3.VA loans are reusable — you can use your benefit multiple times after paying off or selling
- 4.The funding fee can be financed into the loan or paid upfront at closing
Based on 2026 VA loan guidelines. Actual rates and funding fees vary. Contact a VA-approved lender for personalized quotes.
VA Loan Benefits for Veterans
VA loans are one of the most powerful home-buying benefits available. Backed by the Department of Veterans Affairs, they offer zero down payment, no private mortgage insurance, competitive interest rates (typically 0.25–0.50% lower than conventional), and no prepayment penalties. The only upfront cost is the VA funding fee, which ranges from 1.25% to 3.30% of the loan — and veterans with service-connected disabilities are exempt.
2026 VA Funding Fee Rates
| Down Payment | First Use (Active) | First Use (Reserves) | Subsequent Use |
|---|---|---|---|
| 0% down | 2.15% | 2.65% | 3.30% / 3.80% |
| 5–9.99% down | 1.50% | 1.75% | 1.50% / 1.75% |
| 10%+ down | 1.25% | 1.25% | 1.25% |
| Disability exempt | $0 (completely exempt) | ||
Who Qualifies for a VA Loan?
| Service Type | Minimum Service Requirement |
|---|---|
| Active duty | 90 consecutive days during wartime, or 181 days peacetime |
| Veteran | Same as active duty, honorable or general discharge |
| National Guard / Reserves | 6 years of service, or 90 days activated |
| Surviving spouse | Unmarried spouse of veteran who died in service or from service-connected disability |
VA Loan vs Other Loan Types
The average VA borrower saves $100–$300 per month compared to FHA due to the elimination of monthly mortgage insurance. Over a 30-year loan, that adds up to $36,000–$108,000 in savings. VA loans also have no loan limit for borrowers with full entitlement, while FHA and conventional loans cap at county-specific limits.
Frequently Asked Questions
Can I use a VA loan more than once?
Yes. VA loan entitlement is reusable. Once you sell the home and pay off the loan (or have a buyer assume it), your entitlement is restored. You can also have multiple VA loans simultaneously if you have remaining entitlement. Second-time users pay a higher funding fee (3.30% vs 2.15% with no down payment), but the no-PMI benefit still makes it highly competitive.
Do VA loans require a minimum credit score?
The VA itself has no minimum credit score. However, most VA-approved lenders set their own minimums, typically 580–620. Some lenders specialize in lower-credit VA loans. VA loans are generally more forgiving of credit issues than conventional loans, and manual underwriting is available for borderline cases.
See also: FHA Loan Calculator and Mortgage Calculator.