VA Mortgage Calculator

Use our VA (Veteran Affairs) mortgage calculator to estimate your monthly mortgage payment and better understand the potential costs of a VA home loan.


Consult your financial advisors and appropriate government agencies for any effect on taxes or government benefits. Calculator disclaimer: The information provided by these calculators is intended for illustrative purposes only and is not intended to purport actual user-defined parameters. The default figures shown are hypothetical and may not be applicable to your individual situation. Be sure to consult a financial professional prior to relying on the results. Subject to credit approval. Terms and conditions may apply. Subject to VA eligibility requirements. Property insurance is required on all loans secured by property.

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How This Calculator Fits Into the VA Loan Process

This page combines a lending calculator with VA loan program information to help you plan ahead. Once you’re ready to take next steps, a loan professional can guide you through the VA loan process.

    You can use this online mortgage calculator to:

  • Estimate potential monthly payments
  • Review a possible amortization schedule
  • Explore how different inputs may affect loan costs

Think of it as a starting point to better understand your options before moving forward.

Please be aware the mortgage calculator is meant to be used as an educational tool. The final amount shown is not guaranteed.

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VA Loan Overview

A VA loan is a mortgage option guaranteed by the U.S. Department of Veterans Affairs and designed to help eligible service members, veterans, and surviving spouses achieve homeownership.

These loans are offered by private lenders, like The Federal Savings Bank, and include features that may make buying or refinancing a home more accessible for those who qualify.

Key Features of VA Home Loans

VA loans differ from other mortgage options in several important ways. While individual eligibility and loan details vary, VA loans may offer benefits such as:

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No private mortgage insurance (PMI):

Unlike many conventional loans, VA loans do not require PMI, which can affect your monthly payment estimate.

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Zero down payment:

Many eligible borrowers can purchase a home with little or no down payment using a VA loan, depending on entitlement and lender guidelines.

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Competitive interest rates:

VA loans often feature lower interest rates compared to conventional mortgages.

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Limits on certain closing costs:

The VA places restrictions on some fees, which can influence overall loan costs.

Who May Be Eligible for a VA Loan?

VA loan eligibility for veterans and service members is based on military service history and discharge status. Eligibility requirements are determined by the Department of Veterans Affairs, and lenders may have additional qualification criteria for the actual loan.

If you’re unsure whether you qualify, speaking with a knowledgeable loan officer can help you understand next steps without obligation.

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Loan Types At A Glance

VA loans can support different homeownership goals. Here’s a quick overview of the most common VA loan types:

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VA Purchase Loan:

Used to buy a primary residence. Eligible borrowers may benefit from zero down payment options and no private mortgage insurance (PMI), depending on entitlement and lender guidelines.


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VA Construction Loan:

Designed for building a new home rather than purchasing an existing one. These loans typically involve additional requirements and a more complex process than standard purchase loans.


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VA Cashout Refi:

Allows eligible homeowners to refinance an existing mortgage and access a portion of their home’s equity as cash.


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Understanding the VA Funding Fee

Most VA loans include a VA funding fee, which helps sustain the VA loan program for future borrowers. This fee may vary based on factors such as:


  • Whether it’s your first or subsequent VA loan
  • The type of loan (purchase, refinance, etc.)
  • The amount of any down payment

Some borrowers may be exempt from paying the VA funding fee. Your VA calculator results include how this fee might affect your estimated loan amount or payment.

Important Things To Keep In Mind

While this VA mortgage calculator is a helpful planning tool, it’s important to remember:

  • Estimates are not a loan offer or approval
  • Actual payments depend on finalized loan terms, eligibility, and underwriting
  • VA loan requirements and costs may change
  • Individual circumstances vary

Think of it as a starting point to better understand your options before moving forward.

Please be aware the mortgage calculator is meant to be used as an educational tool. The final amount shown is not guaranteed.

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VA Mortgage Calculator FAQ

This tool is optimized for VA purchase mortgages, i.e., estimating the monthly payment when you use your VA loan to buy a home. If you’re looking for refinance or construction scenarios, contact a VA loan specialist.

Yes. You can choose from first-time use, subsequent use, or indicate eligibility for a possible exemption (for example, due to service-connected disability). The calculator factors that into the overall estimated payment.

No, using the calculator will not affect your credit score. This is a soft estimate only and does not involve any credit checks or hard pulls.

It provides a close estimate based on your inputs. The actual payment you might qualify for depends on factors like your credit profile, property location, final interest rate offered, and other underwriting criteria.

Yes. You can input estimates for property taxes, homeowners’ insurance, and (if applicable) HOA dues to get a clearer picture of potential monthly costs.

Absolutely. You can switch between common term lengths (e.g. 15 or 30 years) and experiment with different interest rates to see how your potential monthly payment changes.

Yes. Adding a down payment lowers the loan amount and can reduce the VA funding fee, which in turn lowers the estimated monthly payment given by the calculator.

Yes. If you qualify for a VA funding fee exemption (for example, due to a service-connected disability), mark that option in the calculator, and it will adjust accordingly.

After you get your estimate, you can reach out to a VA loan expert at The Federal Savings Bank to get a more precise quote, begin the application, or verify your eligibility and Certificate of Eligibility (COE).

This calculator was designed with the VA program s rules in mind. For example, it includes VA specific features like the funding fees and exemptions. This can potentially give you more relevant results than a standard mortgage tool.

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This information is intended for educational purposes only. Products and interest rates subject to change without notice. Loan products are subject to credit approval and include terms and conditions, fees and other costs. Terms and conditions may apply. Property insurance is required on all loans secured by property. VA loan products are subject to VA eligibility requirements. Adjustable Rate Mortgage (ARM) interest rates and monthly payment are subject to adjustment. Upon submission of a full application, a mortgage banker will review and provide you with the terms, conditions, disclosures, and additional details on the interest rates that apply to your individual situation.