VA Loan Calculator
Updated on 22 Oct 2026 · Checked by Aotob
A VA loan on a $400,000 home with $0 down costs about $2,966 a month.
There is no monthly mortgage insurance. The one-off funding fee of $8,600 (2.15%, first use) is usually added to the loan.
Monthly payment
$2,966/month
Putting 5% down ($20,000) would cut the funding fee from 2.15% to 1.5%.
Show the working
Base loan = 400,000 − 0 = 400,000
Funding fee = 400,000 × 2.15% = 8,600, so the loan is 408,600
P&I on 408,600 at 6% for 30 years = 2,449.76
Total = 2,449.76 + 516.67 = 2,966.43
VA funding fee for a purchase
| Down payment | First use | Later use | Your fee |
|---|---|---|---|
| Under 5% | 2.15% | 3.3% | 8,600 |
| 5% to under 10% | 1.5% | 1.5% | 6,000 |
| 10% or more | 1.25% | 1.25% | 5,000 |
Questions people ask
Do VA loans need a down payment?
No. With full entitlement you can borrow the whole price with nothing down, and there is no VA loan limit.
What is the VA funding fee?
A one-off fee that keeps the program running. For a purchase it is 2.15% of the loan on first use with under 5% down, 3.3% on later use, 1.5% with 5% or more down and 1.25% with 10% or more. Most borrowers add it to the loan.
Who does not pay the funding fee?
Veterans who get VA disability compensation, some surviving spouses, and service members awarded the Purple Heart, among others. Your Certificate of Eligibility shows whether you are exempt.
Do VA loans have mortgage insurance?
No. There is no monthly mortgage insurance at any down payment, which is the biggest saving against FHA and low-deposit conventional loans.
Updated 22 Oct 2026Source: VA: funding fee and closing costsChecked by AotobAn estimate, not financial adviceReport an issue