What is the VA funding fee?

A one-time percentage of the loan (roughly 1.25%–3.6%) that keeps the VA program running. It varies by eligibility category, first vs subsequent use, down payment — and is waived entirely with a 10%+ service-connected disability.

Do VA loans require mortgage insurance?

No. Instead of monthly PMI there is the one-time funding fee, which for many borrowers makes VA loans cheaper overall than conventional low-down-payment loans.

Can I use my VA benefit more than once?

Yes — entitlement is reusable. A subsequent-use fee applies if the loan is paid off but entitlement is not fully restored (higher fee on <5% down loans).

VA Mortgage Calculator | TheCalculators

Presets

Home Price

Down Payment

VA loans allow 0% down — larger down payments reduce the funding fee.

Loan Term

years

Interest Rate

VA Eligibility

Active / VeteranReservist / National GuardSurviving Spouse

Used a VA Loan Before?

No (first use)Yes (subsequent)

Service-Connected Disability 10%+?

NoYes — fee exempt

VA Funding Fee

Financed into loanPaid at closing

Property Taxes

% / year

Home Insurance

$/year

First Payment Date

Live mode: results update as you type.

Monthly Pay

$3,326.99

2.15% funding fee of $10,750 financed into the loan

House Price: $500,000
Down Payment: $0
Base Loan Amount: $500,000
VA Funding Fee (2.15%): $10,750
Total Loan Amount: $510,750
Monthly Pay (P&I): $3,326.99
Monthly Tax + Insurance: $708.33
Total of Payments: $1,197,715
Total Interest: $686,965
Payoff Date: November 8, 2056

Loan breakdown

Principal$500,000
Funding Fee (financed)$10,750
Interest$686,965

Amortization schedule (annual)

Year	Beginning Balance	Total Paid	Principal	Interest	Ending Balance
Year 1	$510,750.00	$39,923.84	$5,399.74	$34,524.10	$505,350.26
Year 2	$505,350.26	$39,923.84	$5,778.12	$34,145.72	$499,572.14
Year 3	$499,572.14	$39,923.84	$6,183.02	$33,740.82	$493,389.12
Year 4	$493,389.12	$39,923.84	$6,616.30	$33,307.54	$486,772.82
Year 5	$486,772.82	$39,923.84	$7,079.93	$32,843.91	$479,692.89
Year 6	$479,692.89	$39,923.84	$7,576.06	$32,347.78	$472,116.83
Year 7	$472,116.83	$39,923.84	$8,106.95	$31,816.89	$464,009.88
Year 8	$464,009.88	$39,923.84	$8,675.04	$31,248.80	$455,334.84
Year 9	$455,334.84	$39,923.84	$9,282.94	$30,640.90	$446,051.90
Year 10	$446,051.90	$39,923.84	$9,933.44	$29,990.40	$436,118.46
Year 11	$436,118.46	$39,923.84	$10,629.52	$29,294.31	$425,488.93
Year 12	$425,488.93	$39,923.84	$11,374.39	$28,549.45	$414,114.55
Year 13	$414,114.55	$39,923.84	$12,171.44	$27,752.40	$401,943.10
Year 14	$401,943.10	$39,923.84	$13,024.35	$26,899.49	$388,918.75
Year 15	$388,918.75	$39,923.84	$13,937.03	$25,986.81	$374,981.72
Year 16	$374,981.72	$39,923.84	$14,913.67	$25,010.17	$360,068.05
Year 17	$360,068.05	$39,923.84	$15,958.74	$23,965.10	$344,109.31
Year 18	$344,109.31	$39,923.84	$17,077.04	$22,846.80	$327,032.27
Year 19	$327,032.27	$39,923.84	$18,273.71	$21,650.13	$308,758.56
Year 20	$308,758.56	$39,923.84	$19,554.24	$20,369.60	$289,204.32
Year 21	$289,204.32	$39,923.84	$20,924.50	$18,999.34	$268,279.82
Year 22	$268,279.82	$39,923.84	$22,390.78	$17,533.06	$245,889.04
Year 23	$245,889.04	$39,923.84	$23,959.80	$15,964.04	$221,929.24
Year 24	$221,929.24	$39,923.84	$25,638.78	$14,285.06	$196,290.46
Year 25	$196,290.46	$39,923.84	$27,435.41	$12,488.43	$168,855.05
Year 26	$168,855.05	$39,923.84	$29,357.94	$10,565.90	$139,497.11
Year 27	$139,497.11	$39,923.84	$31,415.19	$8,508.65	$108,081.91
Year 28	$108,081.91	$39,923.84	$33,616.60	$6,307.23	$74,465.31
Year 29	$74,465.31	$39,923.84	$35,972.28	$3,951.56	$38,493.03
Year 30	$38,493.03	$39,923.84	$38,493.03	$1,430.81	$0.00

VA loans require no monthly mortgage insurance and allow 0% down. The one-time funding fee is waived for borrowers with 10%+ service-connected disability (and surviving spouses). IRRRL streamline refinances carry a reduced 0.50% fee.

Most useful next

Formula

Fee % by down payment & use; Loan = Base + Fee (if financed); Payment = P·r(1+r)^n/((1+r)^n−1)

Pro tips

• Putting 5% down cuts the first-use fee from 2.15% to 1.5%; 10% down drops it to 1.25%.
• The fee can be financed on top of the loan — but you pay interest on it for the whole term.
• VA limits were removed in 2020: eligible borrowers with full entitlement can borrow with no down payment.

FAQ

Presets

Home Price

Down Payment

VA loans allow 0% down — larger down payments reduce the funding fee.

Loan Term

years

Interest Rate

VA Eligibility

Active / VeteranReservist / National GuardSurviving Spouse

Used a VA Loan Before?

No (first use)Yes (subsequent)

Service-Connected Disability 10%+?

NoYes — fee exempt

VA Funding Fee

Financed into loanPaid at closing

Property Taxes

% / year

Home Insurance

$/year

First Payment Date

Live mode: results update as you type.

Monthly Pay

$3,326.99

2.15% funding fee of $10,750 financed into the loan

House Price: $500,000
Down Payment: $0
Base Loan Amount: $500,000
VA Funding Fee (2.15%): $10,750
Total Loan Amount: $510,750
Monthly Pay (P&I): $3,326.99
Monthly Tax + Insurance: $708.33
Total of Payments: $1,197,715
Total Interest: $686,965
Payoff Date: November 8, 2056

Loan breakdown

Principal$500,000
Funding Fee (financed)$10,750
Interest$686,965

Amortization schedule (annual)

Year	Beginning Balance	Total Paid	Principal	Interest	Ending Balance
Year 1	$510,750.00	$39,923.84	$5,399.74	$34,524.10	$505,350.26
Year 2	$505,350.26	$39,923.84	$5,778.12	$34,145.72	$499,572.14
Year 3	$499,572.14	$39,923.84	$6,183.02	$33,740.82	$493,389.12
Year 4	$493,389.12	$39,923.84	$6,616.30	$33,307.54	$486,772.82
Year 5	$486,772.82	$39,923.84	$7,079.93	$32,843.91	$479,692.89
Year 6	$479,692.89	$39,923.84	$7,576.06	$32,347.78	$472,116.83
Year 7	$472,116.83	$39,923.84	$8,106.95	$31,816.89	$464,009.88
Year 8	$464,009.88	$39,923.84	$8,675.04	$31,248.80	$455,334.84
Year 9	$455,334.84	$39,923.84	$9,282.94	$30,640.90	$446,051.90
Year 10	$446,051.90	$39,923.84	$9,933.44	$29,990.40	$436,118.46
Year 11	$436,118.46	$39,923.84	$10,629.52	$29,294.31	$425,488.93
Year 12	$425,488.93	$39,923.84	$11,374.39	$28,549.45	$414,114.55
Year 13	$414,114.55	$39,923.84	$12,171.44	$27,752.40	$401,943.10
Year 14	$401,943.10	$39,923.84	$13,024.35	$26,899.49	$388,918.75
Year 15	$388,918.75	$39,923.84	$13,937.03	$25,986.81	$374,981.72
Year 16	$374,981.72	$39,923.84	$14,913.67	$25,010.17	$360,068.05
Year 17	$360,068.05	$39,923.84	$15,958.74	$23,965.10	$344,109.31
Year 18	$344,109.31	$39,923.84	$17,077.04	$22,846.80	$327,032.27
Year 19	$327,032.27	$39,923.84	$18,273.71	$21,650.13	$308,758.56
Year 20	$308,758.56	$39,923.84	$19,554.24	$20,369.60	$289,204.32
Year 21	$289,204.32	$39,923.84	$20,924.50	$18,999.34	$268,279.82
Year 22	$268,279.82	$39,923.84	$22,390.78	$17,533.06	$245,889.04
Year 23	$245,889.04	$39,923.84	$23,959.80	$15,964.04	$221,929.24
Year 24	$221,929.24	$39,923.84	$25,638.78	$14,285.06	$196,290.46
Year 25	$196,290.46	$39,923.84	$27,435.41	$12,488.43	$168,855.05
Year 26	$168,855.05	$39,923.84	$29,357.94	$10,565.90	$139,497.11
Year 27	$139,497.11	$39,923.84	$31,415.19	$8,508.65	$108,081.91
Year 28	$108,081.91	$39,923.84	$33,616.60	$6,307.23	$74,465.31
Year 29	$74,465.31	$39,923.84	$35,972.28	$3,951.56	$38,493.03
Year 30	$38,493.03	$39,923.84	$38,493.03	$1,430.81	$0.00

Most useful next

Formula

Fee % by down payment & use; Loan = Base + Fee (if financed); Payment = P·r(1+r)^n/((1+r)^n−1)

Pro tips

• Putting 5% down cuts the first-use fee from 2.15% to 1.5%; 10% down drops it to 1.25%.
• The fee can be financed on top of the loan — but you pay interest on it for the whole term.
• VA limits were removed in 2020: eligible borrowers with full entitlement can borrow with no down payment.

VA Mortgage Calculator

Loan breakdown

Amortization schedule (annual)

Formula

Pro tips

FAQ

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VA Mortgage Calculator

Loan breakdown

Amortization schedule (annual)

Formula

Pro tips

FAQ

Related Calculators

FHA Loan Calculator

Mortgage Calculator

Down Payment Calculator

House Affordability Calculator