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VA Loan Calculator

Home Price
Down Payment
Term
Years
Interest Rate
%
VA Funding Fee
%
Property Tax
Home Insurance
/year
Extra Cost
/year
Calculated Results
Monthly Loan Pay 1,044.63
Monthly Tax250.00
Monthly Home Insurance41.67
Monthly Total1,336.30
Home Price200,000.00
VA Funding Fee4,095.75
Down Payment9,500.00
Loan Principal194,595.75
Total Interest181,471.79
Related
Mortgage Calculator FHA Loan Calculator Auto Loan Calculator

Payment schedule

Year Beginning Balance Interest Payment Principal Payment Ending Balance
1194,595.759,664.592,871.00191,724.75
Month1194,595.75810.82233.82194,361.93
Month2194,361.93809.84234.79194,127.14
Month3194,127.14808.86235.77193,891.37
Month4193,891.37807.88236.75193,654.62
Month5193,654.62806.89237.74193,416.88
Month6193,416.88805.90238.73193,178.16
Month7193,178.16804.91239.72192,938.43
Month8192,938.43803.91240.72192,697.71
Month9192,697.71802.91241.72192,455.99
Month10192,455.99801.90242.73192,213.25
Month11192,213.25800.89243.74191,969.51
Month12191,969.51799.87244.76191,724.75
2191,724.759,517.703,017.88188,706.87
Month13191,724.75798.85245.78191,478.97
Month14191,478.97797.83246.80191,232.17
Month15191,232.17796.80247.83190,984.34
Month16190,984.34795.77248.86190,735.47
Month17190,735.47794.73249.90190,485.57
Month18190,485.57793.69250.94190,234.63
Month19190,234.63792.64251.99189,982.64
Month20189,982.64791.59253.04189,729.61
Month21189,729.61790.54254.09189,475.51
Month22189,475.51789.48255.15189,220.36
Month23189,220.36788.42256.21188,964.15
Month24188,964.15787.35257.28188,706.87
3188,706.879,363.303,172.28185,534.58
Month25188,706.87786.28258.35188,448.51
Month26188,448.51785.20259.43188,189.08
Month27188,189.08784.12260.51187,928.57
Month28187,928.57783.04261.60187,666.98
Month29187,666.98781.95262.69187,404.29
Month30187,404.29780.85263.78187,140.51
Month31187,140.51779.75264.88186,875.63
Month32186,875.63778.65265.98186,609.65
Month33186,609.65777.54267.09186,342.55
Month34186,342.55776.43268.20186,074.35
Month35186,074.35775.31269.32185,805.03
Month36185,805.03774.19270.44185,534.58
4185,534.589,201.003,334.58182,200.00
Month37185,534.58773.06271.57185,263.01
Month38185,263.01771.93272.70184,990.31
Month39184,990.31770.79273.84184,716.47
Month40184,716.47769.65274.98184,441.49
Month41184,441.49768.51276.13184,165.36
Month42184,165.36767.36277.28183,888.09
Month43183,888.09766.20278.43183,609.66
Month44183,609.66765.04279.59183,330.06
Month45183,330.06763.88280.76183,049.31
Month46183,049.31762.71281.93182,767.38
Month47182,767.38761.53283.10182,484.28
Month48182,484.28760.35284.28182,200.00
5182,200.009,030.403,505.19178,694.81
Month49182,200.00759.17285.47181,914.53
Month50181,914.53757.98286.65181,627.88
Month51181,627.88756.78287.85181,340.03
Month52181,340.03755.58289.05181,050.98
Month53181,050.98754.38290.25180,760.73
Month54180,760.73753.17291.46180,469.26
Month55180,469.26751.96292.68180,176.59
Month56180,176.59750.74293.90179,882.69
Month57179,882.69749.51295.12179,587.57
Month58179,587.57748.28296.35179,291.22
Month59179,291.22747.05297.59178,993.64
Month60178,993.64745.81298.83178,694.81
6178,694.818,851.063,684.52175,010.29
Month61178,694.81744.56300.07178,394.74
Month62178,394.74743.31301.32178,093.42
Month63178,093.42742.06302.58177,790.84
Month64177,790.84740.80303.84177,487.01
Month65177,487.01739.53305.10177,181.90
Month66177,181.90738.26306.37176,875.53
Month67176,875.53736.98307.65176,567.88
Month68176,567.88735.70308.93176,258.95
Month69176,258.95734.41310.22175,948.73
Month70175,948.73733.12311.51175,637.21
Month71175,637.21731.82312.81175,324.40
Month72175,324.40730.52314.11175,010.29
7175,010.298,662.563,873.03171,137.26
Month73175,010.29729.21315.42174,694.87
Month74174,694.87727.90316.74174,378.13
Month75174,378.13726.58318.06174,060.07
Month76174,060.07725.25319.38173,740.69
Month77173,740.69723.92320.71173,419.98
Month78173,419.98722.58322.05173,097.93
Month79173,097.93721.24323.39172,774.54
Month80172,774.54719.89324.74172,449.80
Month81172,449.80718.54326.09172,123.71
Month82172,123.71717.18327.45171,796.26
Month83171,796.26715.82328.81171,467.45
Month84171,467.45714.45330.18171,137.26
8171,137.268,464.414,071.18167,066.08
Month85171,137.26713.07331.56170,805.70
Month86170,805.70711.69332.94170,472.76
Month87170,472.76710.30334.33170,138.43
Month88170,138.43708.91335.72169,802.71
Month89169,802.71707.51337.12169,465.59
Month90169,465.59706.11338.53169,127.06
Month91169,127.06704.70339.94168,787.13
Month92168,787.13703.28341.35168,445.77
Month93168,445.77701.86342.77168,103.00
Month94168,103.00700.43344.20167,758.80
Month95167,758.80698.99345.64167,413.16
Month96167,413.16697.55347.08167,066.08
9167,066.088,256.124,279.47162,786.61
Month97167,066.08696.11348.52166,717.56
Month98166,717.56694.66349.98166,367.58
Month99166,367.58693.20351.43166,016.15
Month100166,016.15691.73352.90165,663.25
Month101165,663.25690.26354.37165,308.88
Month102165,308.88688.79355.85164,953.04
Month103164,953.04687.30357.33164,595.71
Month104164,595.71685.82358.82164,236.89
Month105164,236.89684.32360.31163,876.58
Month106163,876.58682.82361.81163,514.77
Month107163,514.77681.31363.32163,151.45
Month108163,151.45679.80364.83162,786.61
10162,786.618,037.174,498.41158,288.20
Month109162,786.61678.28366.35162,420.26
Month110162,420.26676.75367.88162,052.38
Month111162,052.38675.22369.41161,682.97
Month112161,682.97673.68370.95161,312.01
Month113161,312.01672.13372.50160,939.51
Month114160,939.51670.58374.05160,565.46
Month115160,565.46669.02375.61160,189.85
Month116160,189.85667.46377.17159,812.68
Month117159,812.68665.89378.75159,433.93
Month118159,433.93664.31380.32159,053.61
Month119159,053.61662.72381.91158,671.70
Month120158,671.70661.13383.50158,288.20
11158,288.207,807.024,728.56153,559.64
Month121158,288.20659.53385.10157,903.10
Month122157,903.10657.93386.70157,516.40
Month123157,516.40656.32388.31157,128.09
Month124157,128.09654.70389.93156,738.15
Month125156,738.15653.08391.56156,346.60
Month126156,346.60651.44393.19155,953.41
Month127155,953.41649.81394.83155,558.58
Month128155,558.58648.16396.47155,162.11
Month129155,162.11646.51398.12154,763.99
Month130154,763.99644.85399.78154,364.21
Month131154,364.21643.18401.45153,962.76
Month132153,962.76641.51403.12153,559.64
12153,559.647,565.104,970.48148,589.16
Month133153,559.64639.83404.80153,154.84
Month134153,154.84638.15406.49152,748.35
Month135152,748.35636.45408.18152,340.17
Month136152,340.17634.75409.88151,930.29
Month137151,930.29633.04411.59151,518.70
Month138151,518.70631.33413.30151,105.40
Month139151,105.40629.61415.03150,690.37
Month140150,690.37627.88416.76150,273.61
Month141150,273.61626.14418.49149,855.12
Month142149,855.12624.40420.24149,434.89
Month143149,434.89622.65421.99149,012.90
Month144149,012.90620.89423.74148,589.16
13148,589.167,310.805,224.78143,364.37
Month145148,589.16619.12425.51148,163.64
Month146148,163.64617.35427.28147,736.36
Month147147,736.36615.57429.06147,307.30
Month148147,307.30613.78430.85146,876.45
Month149146,876.45611.99432.65146,443.80
Month150146,443.80610.18434.45146,009.35
Month151146,009.35608.37436.26145,573.09
Month152145,573.09606.55438.08145,135.01
Month153145,135.01604.73439.90144,695.11
Month154144,695.11602.90441.74144,253.37
Month155144,253.37601.06443.58143,809.80
Month156143,809.80599.21445.42143,364.37
14143,364.377,043.495,492.09137,872.28
Month157143,364.37597.35447.28142,917.09
Month158142,917.09595.49449.14142,467.95
Month159142,467.95593.62451.02142,016.93
Month160142,016.93591.74452.89141,564.04
Month161141,564.04589.85454.78141,109.26
Month162141,109.26587.96456.68140,652.58
Month163140,652.58586.05458.58140,194.00
Month164140,194.00584.14460.49139,733.51
Month165139,733.51582.22462.41139,271.10
Month166139,271.10580.30464.34138,806.76
Month167138,806.76578.36466.27138,340.49
Month168138,340.49576.42468.21137,872.28
15137,872.286,762.515,773.08132,099.20
Month169137,872.28574.47470.16137,402.12
Month170137,402.12572.51472.12136,929.99
Month171136,929.99570.54474.09136,455.90
Month172136,455.90568.57476.07135,979.84
Month173135,979.84566.58478.05135,501.79
Month174135,501.79564.59480.04135,021.75
Month175135,021.75562.59482.04134,539.70
Month176134,539.70560.58484.05134,055.65
Month177134,055.65558.57486.07133,569.59
Month178133,569.59556.54488.09133,081.49
Month179133,081.49554.51490.13132,591.37
Month180132,591.37552.46492.17132,099.20
16132,099.206,467.146,068.44126,030.76
Month181132,099.20550.41494.22131,604.98
Month182131,604.98548.35496.28131,108.70
Month183131,108.70546.29498.35130,610.36
Month184130,610.36544.21500.42130,109.94
Month185130,109.94542.12502.51129,607.43
Month186129,607.43540.03504.60129,102.83
Month187129,102.83537.93506.70128,596.12
Month188128,596.12535.82508.81128,087.31
Month189128,087.31533.70510.93127,576.37
Month190127,576.37531.57513.06127,063.31
Month191127,063.31529.43515.20126,548.11
Month192126,548.11527.28517.35126,030.76
17126,030.766,156.676,378.91119,651.85
Month193126,030.76525.13519.50125,511.26
Month194125,511.26522.96521.67124,989.59
Month195124,989.59520.79523.84124,465.75
Month196124,465.75518.61526.02123,939.72
Month197123,939.72516.42528.22123,411.50
Month198123,411.50514.21530.42122,881.09
Month199122,881.09512.00532.63122,348.46
Month200122,348.46509.79534.85121,813.61
Month201121,813.61507.56537.08121,276.54
Month202121,276.54505.32539.31120,737.22
Month203120,737.22503.07541.56120,195.66
Month204120,195.66500.82543.82119,651.85
18119,651.855,830.316,705.27112,946.58
Month205119,651.85498.55546.08119,105.76
Month206119,105.76496.27548.36118,557.41
Month207118,557.41493.99550.64118,006.76
Month208118,006.76491.69552.94117,453.83
Month209117,453.83489.39555.24116,898.59
Month210116,898.59487.08557.55116,341.03
Month211116,341.03484.75559.88115,781.15
Month212115,781.15482.42562.21115,218.94
Month213115,218.94480.08564.55114,654.39
Month214114,654.39477.73566.91114,087.48
Month215114,087.48475.36569.27113,518.22
Month216113,518.22472.99571.64112,946.58
19112,946.585,487.267,048.32105,898.25
Month217112,946.58470.61574.02112,372.56
Month218112,372.56468.22576.41111,796.14
Month219111,796.14465.82578.81111,217.33
Month220111,217.33463.41581.23110,636.10
Month221110,636.10460.98583.65110,052.45
Month222110,052.45458.55586.08109,466.37
Month223109,466.37456.11588.52108,877.85
Month224108,877.85453.66590.97108,286.88
Month225108,286.88451.20593.44107,693.44
Month226107,693.44448.72595.91107,097.53
Month227107,097.53446.24598.39106,499.14
Month228106,499.14443.75600.89105,898.25
20105,898.255,126.657,408.9398,489.32
Month229105,898.25441.24603.39105,294.86
Month230105,294.86438.73605.90104,688.96
Month231104,688.96436.20608.43104,080.53
Month232104,080.53433.67610.96103,469.57
Month233103,469.57431.12613.51102,856.06
Month234102,856.06428.57616.07102,239.99
Month235102,239.99426.00618.63101,621.36
Month236101,621.36423.42621.21101,000.15
Month237101,000.15420.83623.80100,376.35
Month238100,376.35418.23626.4099,749.96
Month23999,749.96415.62629.0199,120.95
Month24099,120.95413.00631.6398,489.32
2198,489.324,747.607,787.9990,701.34
Month24198,489.32410.37634.2697,855.06
Month24297,855.06407.73636.9097,218.16
Month24397,218.16405.08639.5696,578.60
Month24496,578.60402.41642.2295,936.38
Month24595,936.38399.73644.9095,291.48
Month24695,291.48397.05647.5894,643.90
Month24794,643.90394.35650.2893,993.62
Month24893,993.62391.64652.9993,340.63
Month24993,340.63388.92655.7192,684.91
Month25092,684.91386.19658.4492,026.47
Month25192,026.47383.44661.1991,365.28
Month25291,365.28380.69663.9490,701.34
2290,701.344,349.158,186.4382,514.90
Month25390,701.34377.92666.7190,034.63
Month25490,034.63375.14669.4989,365.14
Month25589,365.14372.35672.2888,692.86
Month25688,692.86369.55675.0888,017.78
Month25788,017.78366.74677.8987,339.89
Month25887,339.89363.92680.7286,659.18
Month25986,659.18361.08683.5585,975.62
Month26085,975.62358.23686.4085,289.22
Month26185,289.22355.37689.2684,599.96
Month26284,599.96352.50692.1383,907.83
Month26383,907.83349.62695.0283,212.81
Month26483,212.81346.72697.9182,514.90
2382,514.903,930.328,605.2773,909.64
Month26582,514.90343.81700.8281,814.08
Month26681,814.08340.89703.7481,110.34
Month26781,110.34337.96706.6780,403.67
Month26880,403.67335.02709.6279,694.05
Month26979,694.05332.06712.5778,981.48
Month27078,981.48329.09715.5478,265.94
Month27178,265.94326.11718.5277,547.41
Month27277,547.41323.11721.5276,825.90
Month27376,825.90320.11724.5276,101.37
Month27476,101.37317.09727.5475,373.83
Month27575,373.83314.06730.5774,643.25
Month27674,643.25311.01733.6273,909.64
2473,909.643,490.069,045.5364,864.11
Month27773,909.64307.96736.6873,172.96
Month27873,172.96304.89739.7472,433.22
Month27972,433.22301.81742.8371,690.39
Month28071,690.39298.71745.9270,944.47
Month28170,944.47295.60749.0370,195.44
Month28270,195.44292.48752.1569,443.28
Month28369,443.28289.35755.2968,688.00
Month28468,688.00286.20758.4367,929.57
Month28567,929.57283.04761.5967,167.98
Month28667,167.98279.87764.7766,403.21
Month28766,403.21276.68767.9565,635.26
Month28865,635.26273.48771.1564,864.11
2564,864.113,027.279,508.3255,355.79
Month28964,864.11270.27774.3664,089.74
Month29064,089.74267.04777.5963,312.15
Month29163,312.15263.80780.8362,531.32
Month29262,531.32260.55784.0861,747.23
Month29361,747.23257.28787.3560,959.88
Month29460,959.88254.00790.6360,169.25
Month29560,169.25250.71793.9359,375.32
Month29659,375.32247.40797.2358,578.09
Month29758,578.09244.08800.5657,777.53
Month29857,777.53240.74803.8956,973.64
Month29956,973.64237.39807.2456,166.40
Month30056,166.40234.03810.6155,355.79
2655,355.792,540.819,994.7845,361.01
Month30155,355.79230.65813.9854,541.81
Month30254,541.81227.26817.3753,724.43
Month30353,724.43223.85820.7852,903.65
Month30452,903.65220.43824.2052,079.45
Month30552,079.45217.00827.6351,251.82
Month30651,251.82213.55831.0850,420.74
Month30750,420.74210.09834.5549,586.19
Month30849,586.19206.61838.0248,748.17
Month30948,748.17203.12841.5147,906.65
Month31047,906.65199.61845.0247,061.63
Month31147,061.63196.09848.5446,213.09
Month31246,213.09192.55852.0845,361.01
2745,361.012,029.4510,506.1334,854.88
Month31345,361.01189.00855.6344,505.38
Month31444,505.38185.44859.1943,646.19
Month31543,646.19181.86862.7742,783.42
Month31642,783.42178.26866.3741,917.05
Month31741,917.05174.65869.9841,047.07
Month31841,047.07171.03873.6040,173.47
Month31940,173.47167.39877.2439,296.23
Month32039,296.23163.73880.9038,415.33
Month32138,415.33160.06884.5737,530.76
Month32237,530.76156.38888.2536,642.51
Month32336,642.51152.68891.9535,750.55
Month32435,750.55148.96895.6734,854.88
2834,854.881,491.9411,043.6423,811.24
Month32534,854.88145.23899.4033,955.48
Month32633,955.48141.48903.1533,052.33
Month32733,052.33137.72906.9132,145.41
Month32832,145.41133.94910.6931,234.72
Month32931,234.72130.14914.4930,320.23
Month33030,320.23126.33918.3029,401.94
Month33129,401.94122.51922.1228,479.81
Month33228,479.81118.67925.9727,553.84
Month33327,553.84114.81929.8226,624.02
Month33426,624.02110.93933.7025,690.32
Month33525,690.32107.04937.5924,752.73
Month33624,752.73103.14941.5023,811.24
2923,811.24926.9311,608.6612,202.58
Month33723,811.2499.21945.4222,865.82
Month33822,865.8295.27949.3621,916.46
Month33921,916.4691.32953.3120,963.15
Month34020,963.1587.35957.2920,005.86
Month34120,005.8683.36961.2719,044.59
Month34219,044.5979.35965.2818,079.31
Month34318,079.3175.33969.3017,110.01
Month34417,110.0171.29973.3416,136.67
Month34516,136.6767.24977.4015,159.27
Month34615,159.2763.16981.4714,177.80
Month34714,177.8059.07985.5613,192.24
Month34813,192.2454.97989.6612,202.58
3012,202.58333.0112,202.580.00
Month34912,202.5850.84993.7911,208.79
Month35011,208.7946.70997.9310,210.86
Month35110,210.8642.551,002.099,208.78
Month3529,208.7838.371,006.268,202.51
Month3538,202.5134.181,010.457,192.06
Month3547,192.0629.971,014.676,177.39
Month3556,177.3925.741,018.895,158.50
Month3565,158.5021.491,023.144,135.36
Month3574,135.3617.231,027.403,107.96
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VA Loan

The VA Loan is a home-mortgage option available to United States servicemembers, veterans, and eligible surviving spouses. VA Loans are provided by qualified lenders, such as banks and mortgage companies, and partially guaranteed by the U.S. Department of Veterans Affairs (VA), enabling the lender to provide the eligible homebuyers with more favorable terms.

A common misconception with the VA loan program is the amount of "red tape” involved. However, this is not true. Many lenders can acquire your Certificate of Eligibility(COE) online, and often eligible borrowers can also be processed without a manual underwrite or VA review. Additionally, if the lender is approved under VA’s Lender Appraisal Processing Program (LAPP), the lender may review the appraisal completed by a VA-assigned appraiser and close the loan with that review. The LAPP can get borrowers to loan closing much faster. The bottom line is average closing time for VA loans is basically similar to those for conventional loans.

VA Loan Benefits
  • Not required to have a down payment: in most cases, cited as the greatest VA loan benefit. Conventional loans generally require a 5 percent down payment, and FHA loans require 3.5 percent.
  • Limitation on buyer's closing costs: Sellers can pay all of a buyer’s loan-related closing costs and up to 4 percent in concessions. Lower average interest rates than other loan types. VA loans continue to have the lowest average interest rates of all loan types.
  • No monthly mortgage insurance premiums or PMI: FHA loans come with both an upfront and an annual mortgage insurance charge. Conventional loan buyers typically need to pay for private mortgage insurance(PMI) unless they’re making a huge down payment of 20 percent or more.
  • Two refinance options: Allows homeowners with existing VA loans the option to lower their monthly payment with a new interest rate. Eligible homeowners with a loan other than a VA loan can refinance into the VA loan program.
  • Second tier entitlement: Even though qualified military borrowers have already used their loan benefits, it may be possible for them to buy homes again with VA financing using remaining or restored loan entitlement.
  • An assumable mortgage: Subject to VA and/or lender approval. Qualified military borrowers may be able to have someone take over their mortgage payment, which can be a big benefit in an environment of rising interest rates.
  • No prepayment penalties: VA buyers can pay off a loan early without any financial penalties.
  • Foreclosure avoidanceadvocacy: The VA has staff members who advocate on behalf of homeowners to find alternatives to foreclosure.
Types of VA loans
  • VA Purchase Loan: Help qualified military borrowers purchase a home at a competitive interest rate often without requiring a downpayment or private mortgage insurance.
  • VA Streamline Refinance Loan: also called Interest Rate Reduction Refinance Loan (IRRRL). Can help qualified military borrowers obtain a lower interest rate by refinancing your existing VA loan.
  • Cash Out Refinance loan Allow qualified military borrowers to take cash out of your home equity to take care of concerns like paying off debt, funding school, or making home improvements.
  • Native American Direct Loan (NADL): Helps eligible native american military borrowers finance the purchase, construction, or improvement of homes on Federal Trust Land, or reduce the interest rate on a VA loan.
  • VA New Construction: Used to build a home on a piece of land. Qualified military borrowers can use VA entitlement toward a new construction mortgage.
  • VA Jumbo Loan: Veterans don’t need a “true” VA jumbo loan unless their expected loan amount is above the limit for the county, and a VA jumbo loan which requires a small down payment. The standard VA loan limit is $485,000 in most areas of the country. But VA allows higher loan amounts of up to $726,000 in higher-cost counties. However, VA loans can be even higher. There is no true limit for VA loans. Veterans can get VA loans upwards of $1 million or more.