VA Mortgage Calculator
Estimate the monthly PITI, one-time VA funding fee and total interest & fees of a U.S. VA mortgage.
Input Data
Results
Outstanding balance
At a glance:A VA loan is a U.S. Veterans Affairs–guaranteed mortgage for eligible veterans and families, usually with zero down and no monthly mortgage insurance (PMI/MIP), but a one-time funding fee applies. This calculator estimates the monthly PITI and total costs.
Formula
r = annual ÷ 100 ÷ 12; n = years × 12.
Down = price × down%; base loan = price − down.
Funding fee = base loan × fee%; financed = base loan + fee.
Monthly P&I = financed × r × (1+r)^n ÷ ((1+r)^n − 1).
Monthly PITI = P&I + tax/12 + insurance/12.
How to Use
- Enter home price, down payment % (often 0%), annual rate and term.
- Set the funding fee rate: ~2.3% first use, ~3.6% subsequent, 0 if waived.
- Add yearly property tax and insurance to see the full monthly PITI and total interest & fee.
FAQ
Is a VA loan really no down payment and no mortgage insurance?
For most eligible borrowers a VA loan can be zero down and does not require private mortgage insurance (PMI). But it is not free — a one-time funding fee is charged to keep the VA guarantee program running; it is usually waived for service-connected disabled veterans.
Can the funding fee be financed?
Yes, and it commonly is — rolled into the loan to reduce cash at closing, which is the default here so the financed amount is slightly higher than the base loan. You may also pay it in cash.
Does this apply in Hong Kong?
No. VA loans are a U.S. veterans-only product, amounts in USD for educational illustration. Hong Kong mortgages are entirely different — use the Hong Kong mortgage calculators on this site.
Related Tools
References
Content review: Calculatorism Finance Team. VA funding-fee rates follow public VA guidance for educational reference only; actual terms per the VA and your lender.