VA Mortgage Calculator
Modify the values and click Calculate. The calculator adds the VA funding fee to the loan amount (unless you set a down payment) and displays a full amortization schedule.
VA Mortgage Calculator Online: Calculate Your VA Home Loan Easily
Introduction
A VA Mortgage Calculator online is a helpful tool designed specifically for veterans, active-duty service members, and eligible military families to estimate their VA home loan payments. VA loans offer unique benefits, including no down payment and competitive interest rates, but calculating monthly payments, interest, and total cost can still be confusing.
This calculator is perfect for anyone eligible for a VA loan who wants to plan their home purchase, understand affordability, and compare loan options. Using a VA Mortgage Calculator online ensures you can make informed decisions quickly without complicated math.
Formula / Working
VA mortgage payments are calculated using a standard mortgage amortization formula: M=P×r×(1+r)n(1+r)n−1M = \frac{P \times r \times (1+r)^n}{(1+r)^n – 1}M=(1+r)n−1P×r×(1+r)n
Where:
- MMM = Monthly mortgage payment
- PPP = Loan principal (amount financed)
- rrr = Monthly interest rate (annual rate ÷ 12 ÷ 100)
- nnn = Total number of monthly payments (loan term in months)
The calculator can also include VA funding fees (unless exempt) to show the total loan cost.
Step-by-Step Usage
Using a VA Mortgage Calculator online is simple:
- Enter the loan amount – Total VA home loan you plan to take.
- Input the interest rate – VA loans typically have lower rates than conventional mortgages.
- Enter the loan term – Commonly 15, 20, or 30 years.
- Include VA funding fee – If applicable, enter the percentage based on your military status.
- Click Calculate – The tool shows your estimated monthly payment, total interest, and total loan cost.
This allows you to plan your budget and compare different scenarios easily.
Examples
Example 1 – Standard VA Loan
- Loan Amount: $300,000
- Interest Rate: 6% APR
- Loan Term: 30 years
- VA Funding Fee: 2.3%
Loan Amount with Fee=300,000+(300,000×0.023)=306,900Loan\ Amount\ with\ Fee = 300,000 + (300,000 \times 0.023) = 306,900Loan Amount with Fee=300,000+(300,000×0.023)=306,900 M=306,900×0.005×(1+0.005)360(1+0.005)360−1≈$1,841.45M = \frac{306,900 \times 0.005 \times (1+0.005)^{360}}{(1+0.005)^{360} – 1} \approx \$1,841.45M=(1+0.005)360−1306,900×0.005×(1+0.005)360≈$1,841.45
Total Interest Paid: $363,000
Total Loan Cost: $669,900
Example 2 – 15-Year VA Loan
- Loan Amount: $250,000
- Interest Rate: 5.5% APR
- Loan Term: 15 years
- VA Funding Fee: 0% (Exempt veteran)
M=250,000×0.004583×(1+0.004583)180(1+0.004583)180−1≈$2,043.58M = \frac{250,000 \times 0.004583 \times (1+0.004583)^{180}}{(1+0.004583)^{180} – 1} \approx \$2,043.58M=(1+0.004583)180−1250,000×0.004583×(1+0.004583)180≈$2,043.58
Total Interest Paid: $117,000
Total Loan Cost: $367,000
Example 3 – Long-Term Loan with Funding Fee
- Loan Amount: $400,000
- Interest Rate: 6.25% APR
- Loan Term: 30 years
- VA Funding Fee: 2.15%
Loan Amount with Fee=400,000+(400,000×0.0215)=408,600Loan\ Amount\ with\ Fee = 400,000 + (400,000 \times 0.0215) = 408,600Loan Amount with Fee=400,000+(400,000×0.0215)=408,600 M=408,600×0.005208×(1+0.005208)360(1+0.005208)360−1≈$2,507.90M = \frac{408,600 \times 0.005208 \times (1+0.005208)^{360}}{(1+0.005208)^{360} – 1} \approx \$2,507.90M=(1+0.005208)360−1408,600×0.005208×(1+0.005208)360≈$2,507.90
Total Interest Paid: $451,000
Total Loan Cost: $859,600
FAQs
1. Who can use a VA mortgage calculator?
Eligible veterans, active-duty service members, National Guard members, and surviving spouses can use it to estimate VA loan payments.
2. Does it include VA funding fees?
Yes, you can add VA funding fees to calculate the total loan cost.
3. Can I compare 15-year and 30-year VA loans?
Absolutely, the calculator allows you to adjust the loan term to see different payment scenarios.
4. Is this calculator accurate for all VA loans?
Yes, it provides a close estimate, though your lender may include additional fees.
5. Can I use it before pre-approval?
Yes, it helps you understand affordability before applying for a VA loan.