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Potential Zero Down Payment
Eligible VA borrowers may qualify to purchase a home without a down payment, subject to sufficient entitlement, appraisal, lender requirements, and underwriting. Closing costs may still apply.
iLOAN VA MORTGAGE CALCULATOR
Calculate Your VA Mortgage Payment
Estimate VA mortgage payments, down payments, funding fees, and home purchase costs.
VA Home Purchase Details
Enter your purchase price and illustrative financing assumptions to explore a potential VA mortgage scenario.
$
VA Down Payment
$
Eligible VA borrowers may qualify for zero-down financing. Entitlement, property appraisal, credit, income, and lender underwriting requirements apply.
VA Loan Use & Funding Fee
VA funding fee rates may vary by down payment and whether this is your first or subsequent VA loan use. Certain qualifying borrowers are exempt. Exemption status must be verified.
Mortgage Loan Term
Monthly Housing Expenses
VA purchase loans generally do not require monthly mortgage insurance. Property taxes, homeowners insurance, and HOA dues may still apply.
Closing Costs & Credits
Closing costs are estimates and should exclude the VA funding fee calculated separately. Seller-paid costs and concessions are subject to VA rules. Earnest money is assumed credited toward closing.
Your Estimated VA Mortgage Payment
Review your estimated monthly payment, VA funding fee, purchase financing, and cash needed at closing.
Estimated Total Monthly VA Payment
Calculating…
Includes estimated principal, interest,
property taxes, homeowners insurance,
and HOA dues. VA loans generally
do not require monthly mortgage insurance.
Monthly Payment Breakdown
Principal & Interest
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Property Taxes
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Homeowners Insurance
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Monthly VA Mortgage Insurance
$0
HOA Dues
—
VA Purchase Financing
Home Purchase Price
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Down Payment
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Base VA Loan Amount
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VA Funding Fee Rate
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VA Funding Fee Amount
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Total Financed VA Loan
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Original Loan-to-Value Ratio
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Funding Fee Status
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Estimated Closing Funds
Estimated Closing Costs
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Earnest Money Credit
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Seller Credits Applied
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Funding Fee Paid at Closing
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Estimated Remaining Cash Needed at Closing
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Includes down payment, estimated closing
costs, and any funding fee not financed,
less applicable seller credits and
earnest money already deposited.
Understanding VA Funding Fee Exemptions
Some eligible VA borrowers are exempt from the funding fee, including certain veterans receiving qualifying VA disability compensation and other borrowers meeting VA exemption rules. Funding fee exemptions must be verified through the applicable VA documentation. Selecting an exemption in this calculator does not establish eligibility. VA loans generally do not require monthly mortgage insurance.
Results will appear once the calculation engine is activated.
IMPORTANT VA CALCULATOR DISCLOSURE: This calculator provides hypothetical educational estimates only. Interest rates shown or entered do not represent current iLoan rates, advertised loan terms, or an offer of credit. VA funding fee rates depend on the applicable VA rules, down payment, first or subsequent use, loan type, and verified exemption status. Actual funding fees may differ. Zero-down financing is available only to eligible borrowers and is subject to entitlement, appraisal, credit, income, residual-income requirements, lender guidelines, and underwriting. The calculator assumes the entered closing costs include applicable prepaid expenses and initial escrow deposits but exclude the separately calculated VA funding fee. Seller-paid closing costs and concessions are subject to applicable VA rules. The amount of allowable contributions depends on the nature of the expense, transaction, and financing requirements. Earnest money is assumed credited at closing. Actual interest rates, APR, monthly payments, property taxes, insurance, closing costs, funding fees, and required funds may vary. Results do not establish VA eligibility, entitlement, loan approval, or a commitment to lend. They are not a Loan Estimate or an offer of credit.
UNDERSTANDING VA MORTGAGE FINANCING
What Makes VA Home Loans Different?
VA home loans offer valuable financing benefits for eligible veterans, active-duty service members, and certain surviving spouses. Understanding the funding fee, down payment options, and ongoing housing costs can help you plan.
02
No Monthly Mortgage Insurance
VA purchase loans generally do not require monthly private mortgage insurance, even when the borrower makes little or no down payment. Property taxes, homeowners insurance, and HOA dues may still apply.
03
VA Funding Fee
Most nonexempt VA purchase borrowers pay a funding fee. The amount depends on the down payment and first or subsequent use. The fee may generally be financed into the mortgage or paid at closing.
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Funding Fee Exemptions
Certain borrowers qualify for VA funding fee exemptions, including veterans receiving qualifying disability compensation and other eligible categories. Exemption status must be officially verified.
Example: Understanding the VA Funding Fee
Consider a hypothetical $350,000 home purchase with zero down using a VA purchase loan for the first time.
Using the standard illustrative first-use funding fee rate of 2.15%, the funding fee would be $7,525.
If financed, the fee increases the loan amount rather than requiring that amount upfront. Financing the fee also increases principal-and-interest costs.
Home Purchase Price
$350,000
Down Payment
$0
Base VA Loan
$350,000
Funding Fee (2.15%)
$7,525
Total Loan With Financed Funding Fee
$357,525
Explore Your VA Home Financing Options
VA financing can provide meaningful benefits for eligible military borrowers. iLoan can help you explore available loan options, funding fee considerations, and the next steps toward mortgage pre-approval.
Important VA Financing Disclosure: All examples are hypothetical and provided for educational purposes only. VA eligibility, entitlement, funding fee exemption status, appraisal requirements, residual income, credit, and underwriting must be verified. Actual rates, APR, funding fees, closing costs, and payments may differ. Zero-down financing is not guaranteed. This information is not a Loan Estimate, loan approval, offer of credit, or commitment to lend.
VA HOME LOAN QUESTIONS ANSWERED
VA Mortgage Calculator FAQs
Understand VA eligibility, zero-down financing, funding fees, entitlement, and mortgage qualification requirements.
Who may qualify for a VA home loan?
Eligible veterans, active-duty service members, certain National Guard and Reserve members, and some surviving spouses may qualify for VA home loan benefits.
Eligibility depends on applicable service requirements and VA rules. A Certificate of Eligibility (COE) helps establish VA home loan eligibility. Lender underwriting is also required.
Can I buy a home with zero down using a VA loan?
Eligible VA borrowers with sufficient entitlement may qualify for a purchase loan without a down payment, provided the property meets applicable appraisal and lender requirements.
Closing costs and the VA funding fee, when applicable, may still need to be addressed. Zero-down financing is not guaranteed.
Does the VA require a minimum credit score?
VA does not establish one universal minimum credit score for all VA purchase loans. However, individual lenders may impose their own credit requirements.
Credit history, income, debts, residual income, and other underwriting factors influence qualification.
What is the VA funding fee?
The VA funding fee is a one-time charge that generally applies to nonexempt VA borrowers.
For standard VA purchase loans, the percentage depends on the down payment and whether the borrower is using the benefit for the first or a subsequent time. The fee may generally be financed or paid at closing.
Who is exempt from the VA funding fee?
Certain borrowers may qualify for an exemption, including veterans receiving qualifying VA disability compensation, some borrowers entitled to compensation but receiving retirement or active-duty pay, and other eligible categories.
Funding fee exemption status must be verified through applicable VA documentation. Selecting an exemption in this calculator does not establish eligibility.
Can I use my VA home loan benefit more than once?
Yes. Eligible borrowers may be able to reuse their VA home loan benefit, depending on available entitlement and restoration requirements.
Having an existing VA loan does not automatically prevent another VA-financed purchase, but entitlement and underwriting must be evaluated.
Can a seller help pay VA loan closing costs?
Sellers may pay certain eligible closing costs and offer permitted concessions in VA transactions.
VA distinguishes ordinary seller-paid closing costs from seller concessions, which are subject to specific restrictions. Actual allowable amounts depend on the nature of the expenses and transaction.
Can I refinance an existing VA mortgage?
Eligible VA borrowers may have refinancing options, including the VA Interest Rate Reduction Refinance Loan (IRRRL) and VA cash-out refinancing.
Program eligibility, net tangible benefit requirements, costs, and underwriting vary. Explore our VA IRRRL refinance information .
