VA Mortgage Calculator

How this result is built

Estimate a VA loan payment with an editable funding fee and a waiver switch.

VA loans can be made with no down payment. The funding fee is the piece people forget, and it is often financed, which raises the balance. Some borrowers are exempt. The waiver switch sets the fee to zero instead of asking you to remember a special case.

What the opening example is for

The fee percent is an input on purpose. It changes with down payment, first use, and service details. Use the percent on your certificate or quote.

The walkthrough below uses the numbers already sitting in VA Mortgage Calculator. Press Calculate and the headline should match this page. Then put your own figures in. The math does not run until you press the button, and Clear hides the result.

What each field is doing

The “Home price” line on VA Mortgage Calculator starts at $420,000.00. Leave that figure only when it matches the statement, the quote, or the plan you are testing. Press Calculate after the edit so the chart and the schedule move with it.

VA Mortgage Calculator treats “Down payment” as its own entry, and the form opens with $0.00. A round example is useful for learning the page. It is a poor substitute for the number on your own paperwork, so replace it and run the form again.

Before you replace it, “Interest rate” reads 6.30% on VA Mortgage Calculator. The other fields stay put while you change this one. That is the clean way to see what this line is doing inside the result.

Look at “Term” first if you are checking VA Mortgage Calculator: the filled value is 30. If the label is a rate, type the annual figure the contract uses. If it is money, type the amount that will actually move, not a rounded hope.

The remaining fields

The “Funding fee” line on VA Mortgage Calculator starts at 2.15%. Leave that figure only when it matches the statement, the quote, or the plan you are testing. Press Calculate after the edit so the chart and the schedule move with it.

VA Mortgage Calculator treats “Funding fee waived” as its own entry, and the form opens with No. A round example is useful for learning the page. It is a poor substitute for the number on your own paperwork, so replace it and run the form again.

Before you replace it, “Property tax per year” reads $4,200.00 on VA Mortgage Calculator. The other fields stay put while you change this one. That is the clean way to see what this line is doing inside the result.

Look at “Home insurance per year” first if you are checking VA Mortgage Calculator: the filled value is $1,600.00. If the label is a rate, type the annual figure the contract uses. If it is money, type the amount that will actually move, not a rounded hope.

The opening result, line by line

Press Calculate on the opening form and Monthly housing payment is $3,138.91. That is the number the rest of this section is talking about.

Principal and interest is $2,655.58 when you run the opening figures on VA Mortgage Calculator. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

On this opening pass, property tax is $350.00. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

VA Mortgage Calculator reports that home insurance is $133.33. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

Funding fee financed is $9,030.00 when you run the opening figures on VA Mortgage Calculator. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

On this opening pass, other costs is $0.00. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

How those lines were produced

VA Mortgage Calculator reports that pMI and HOA is $0.00. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

Payoff is Jan 2056 when you run the opening figures on VA Mortgage Calculator. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

On this opening pass, amount financed is $429,030.00. That line is part of the same calculation as the headline. It is not a second balance you can spend on top of the result. Change one input and press Calculate if you want to see whether this line moves.

The funding-fee percent is an input because it depends on service, down payment, and whether a fee is waived.

The formula line on the page is M = P · r(1+r)^n / ((1+r)^n − 1). It is there so you can see the relationship the buttons are using. A schedule, when the page draws one, is that same series written row by row.

A second pass changes only “Home price”, from $420,000.00 to $462,000.00. Monthly housing payment moves from $3,138.91 to $3,404.47. Nothing else on the form was edited, so the gap between those two results is the effect of that one field on VA Mortgage Calculator. If the gap is tiny, this page is not very sensitive to that entry. If the gap is large, get that entry from a document before you plan around the result.

What this page will not claim

VA Mortgage Calculator does not know your credit score, the county’s tax bill, or what an appraiser will say. Type the price, the loan, and the escrow you were quoted. Compare the payment with the loan estimate, and treat a small rounding difference as normal.

VA Mortgage Calculator stops at its own formula. When the next question is different, open Mortgage Calculator (Principal, interest, tax, insurance, PMI, and HOA in one payment.); FHA Loan Calculator (Down payment, upfront MIP, and the annual premium.); Loan-to-Value Calculator (Loan, value, and the equity in between.). Do not add those results to this one as if they were the same kind of dollar.

Check the result before you use it

Start on VA Mortgage Calculator by reading the labels, not the headline. The opening labels are Home price ($420,000.00), Down payment ($0.00), Interest rate (6.30%), Term (30), Funding fee (2.15%), Funding fee waived (No), Property tax per year ($4,200.00), Home insurance per year ($1,600.00). If a label is not the fact you have, the result cannot turn into that fact later. The illustration on the form lands on $3,138.91. When you press Calculate and see that same figure, the button and this explanation are using one formula.

Change one field at a time. Write down the headline, edit a single line, and press Calculate again. A large jump means that line carries the result. A line that does not move is a line the formula ignores, which is a reason to confirm you opened the right page. VA Mortgage Calculator is built for one job: A zero-down payment with the funding fee shown. The description on the page says the same thing in a sentence: Estimate a VA loan payment with an editable funding fee and a waiver switch.

When the paperwork disagrees

Then hold the headline next to a source outside the site. That source might be a loan estimate, an account statement, a pay stub, or the public limit named in the methodology. A few cents of difference on a long schedule is ordinary rounding. A different rate, a fee you never typed, or a tax the form does not ask for is not rounding. Correct the input. Do not average the page with the paperwork.

When the outside source still disagrees, VA Mortgage Calculator has reached the edge of what it will claim. It will not phone a lender, pull a county record, or apply a credit you left blank. Send the calculator name, every input, and the result you expected through the contact page if you think the formula itself is wrong. Until that is settled, read $3,138.91 as the output of the fields above and nothing else.

FAQs