Calculate VA loan monthly payment with funding fee. No PMI required. See total cost for veterans, active duty, and surviving spouses.
0% minimum (VA benefit)
P&I: $2,583 | No PMI required
| Home Price | $400,000 |
| Down Payment | $0 (0%) |
| Base Loan Amount | $400,000 |
| VA Funding Fee (2.15%) | $8,600 |
| Total VA Loan | $408,600 |
| Monthly P&I | $2,583 |
| Monthly Property Tax | $400 |
| Monthly Insurance | $133 |
| Monthly PMI | $0 (VA benefit) |
| Total Monthly Payment | $3,116 |
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VA Funding Fee = Loan Amount × Fee Rate (2.15% first use, 0% down)
Total Loan = Loan Amount + Funding Fee (financed)
No PMI/MIP — significant monthly savings vs FHA/conventional
No. VA loans allow 0% down payment with no private mortgage insurance (PMI). This is the most powerful benefit for eligible veterans and active-duty military.
The VA funding fee replaces PMI. For first-time use with 0% down: 2.15% of loan amount. With 5%+ down: 1.5%. With 10%+ down: 1.25%. Second use: 3.3%. Exempt if receiving VA disability compensation.
VA loans are available to: Active duty military (90+ days), Veterans with honorable discharge, National Guard/Reserves (6+ years service), Surviving spouses of service members killed in action.
VA removed loan limits for borrowers with full entitlement (no existing VA loans). With remaining entitlement, county conforming loan limits apply ($766,550 standard for 2024).
Yes. The VA funding fee can be deducted as mortgage interest if you itemize deductions. This partially offsets the upfront cost of the fee.
Calculations are for educational purposes only. Consult a qualified financial advisor for personalized advice.