Use our VA loan calculator to easily calculate and compare VA loan payments, including the applicable VA funding fee. Refinancing? VA Cash-out IRRRL Enter a VA Purchase Price The loan amount you've calculated exceeds the VA loan limit of for 100% financing. That's okay, but you might have to make a down payment if you aren't buying in a high-cost area. The standard limit is . The high cost area limit is VA loan limits VA down payment calculator Common VA Down Payments 30 25 20 15 10 VA Funding Fee Do you receive VA disability? Have you had a VA loan before? Are you a reservist? Taxes & Insurance state percent Change state Alabama Alaska Arizona Arkansas California Colorado Connecticut Delaware District Of Columbia Florida Georgia Hawaii Idaho Illinois Indiana Iowa Kansas Kentucky Louisiana Maine Maryland Massachusetts Michigan Minnesota Mississippi Missouri Montana Nebraska Nevada New Hampshire New Jersey New Mexico New York North Carolina North Dakota Ohio Oklahoma Oregon Pennsylvania Rhode Island South Carolina South Dakota Tennessee Texas Utah Vermont Virginia Washington West Virginia Wisconsin Wyoming Property Tax rate: 0 Homeowner's Insurance rate: 0 Estimated tax rates for demonstration purposes only. Source: tax-rates.org Your Monthly VA Payment Open Today's Mortgage Rates Income Guide 31% Housing Ratio: 43% Debt/Income Ratio: *Annual income needed to achieve respective ratios based on the payment you've calculated. Be sure to include tax and insurance in your calculations for best results. VA Loan Calculator Results Principal & Interest Monthly Escrow Escrow is a portion of your monthly payment that goes into an account with your mortgage holder that is used to pay your property taxes and annual homeowner's insurance. VA loans do not require escrow to be included in your mortgage payment. However, most VA approved lenders WILL require it. (see Chapter 9 here) + VA Mortgage Payment = VA VA Loan Breakdown Purchase Price Minimum Down Payment 3.5% Your Down Payment Down Payment Percentage VA Base Loan Amount VA Funding Fee The standard VA funding fee is 2.15% the first time VA benefits are used. The VA calculator computes it for you based on your responses to the funding fee questions. For further reading we detail VA funding fees here. VA Loan Estimate 2018 VA Loan Calculator Our VA loan payment calculator calculates an accurate VA mortgage loan payment by accounting for the appropriate VA funding fee, down payment, property taxes, and homeowner's insurance. NOTE: Perhaps you've found this page looking for a no down payment mortgage but do not have VA benefits. If so, there may be another option available in certain areas. Learn more about USDA loans here. Additionally, FHA loans are a great low down payment alternative. When budgeting to buy a new home, your monthly payment calculations need to be precise. Thank you for choosing What’s My Payment? More VA Calculators VA IRRRL Payment Calculator VA Cash-out Refinance Calculator VA Entitlement Calculator What is a VA loan? VA loans are mortgages guaranteed by the Department of Veteran's Affairs. Eligible veterans and active duty military can purchase a new home with no money down and pay no monthly PMIPrivate Mortgage Insurance. VA loans can be eligible for Interest Rate Reduction Refinance Loans (IRRRL) when mortgage rates decrease. VA loans are available to eligible veterans, active duty, reservists, and surviving spouses. VA loans allow 100% financing (no down payment) without paying monthly PMI. VA funding fee percentage is impacted by making a 5% or more down payment. 5% down decreases the funding fee to 1.50% (1.75% for reservists). A down payment of 10% or more reduces the funding fee another 0.25%. 2017 VA Loan Limit Lookup Tools VA Loan Limits by State/County Calculate VA Entitlement by State While a VA loan will finance 100% of the purchase price in most cases, it is important to know the VA loan limit in your county when shopping for a new home. VA Entitlement Calculator Yes, you can have more than one VA loan, including having more than one at the same time. If you already have a VA loan or have had a VA foreclosure or short sale, our VA entitlement calculator demonstrates what a 2nd VA loan would look like... VA Entitlement Calculator How to use our VA loan calculator: Change any field to automatically calculate your VA loan payment. Be aware of VA county loan limits. Check VA eligibility guidelines Use the icons up top to toggle between inputs and results. Mortgage Calculators What's My Payment?'s best-in-class mortgage calculators, including FHA, VA, USDA, refinance, and conventional loans, are optimized for phones, tablets, and desktop. It's easier than ever to budget for your new home purchase. Click here to view all calculators. 2019 Loan Limits: FHA, VA, & Conforming The Federal Housing Finance Agency (FHFA) determines loan limits for conventional home loans. FHA mortgage limits are generally... Read More What Buyers Need to Know About VA Home Appraisals Essential VA appraisal information for the veteran homebuyer... Read More Get Cashback with a VA Refinance Eligible veterans and active duty military can access 100% of their VA appraised home value with a VA cashout refinance... Read More Ask the Seller to Pay Your Closing Costs Seller paid closing costs are a great way to minimize your out of pocket cash to close. 3% (the conventional max) to 6% (the FHA max) is common... Read More VA Funding Fee Chart The VA funding fee chart demonstrates the various ways in which the VA funding fee applies. VA collects a premium on most loans known as the VA funding fee... Read More Using Your VA Loan Eligibility VA loan eligibility grants veterans and active duty military the right to purchase a new home with no money down at excellent interest rates... Read More View all blog posts Peruse all our blog posts to learn more about FHA, VA, and USDA home loans. Read our blog.