VA Loan Calculator with Funding Fee
Calculate your exact VA loan monthly payment including the VA funding fee. See how much you save with no PMI, check if you qualify for a fee exemption, and compare VA vs conventional side by side.
VA Loan Details
Uses 2026 VA funding fee schedule. All math runs in your browser.
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What Makes VA Loans Unique
VA loans are among the most powerful mortgage benefits available to any American. Backed by the U.S. Department of Veterans Affairs and available to eligible active-duty service members, veterans, and surviving spouses, VA loans offer a combination of benefits that no other loan program matches: no down payment, no private mortgage insurance, competitive interest rates, and no loan limit for veterans with full entitlement.
The trade-off is the VA funding fee — a one-time charge paid at closing (or rolled into the loan) that funds the program and allows VA to offer these terms without requiring taxpayer appropriations for each default. Understanding the funding fee is essential to evaluating your true VA loan cost, because most comparisons between VA and conventional omit it entirely.
The VA Funding Fee: 2026 Rate Schedule
The funding fee rate depends on four factors: your service type (regular military vs Reserves/National Guard), your down payment percentage, whether this is your first or subsequent use of VA loan benefits, and whether you qualify for an exemption.
| Loan Use | Down Payment | Regular Military | Reserves / Nat. Guard |
|---|---|---|---|
| First Use | Less than 5% | 2.15% | 2.40% |
| 5% – 9.99% | 1.50% | 1.50% | |
| 10% or more | 1.25% | 1.25% | |
| Subsequent Use | Less than 5% | 3.30% | 3.30% |
| 5% – 9.99% | 1.50% | 1.50% | |
| 10% or more | 1.25% | 1.25% |
Who Is Exempt from the VA Funding Fee?
The funding fee exemption is one of the most overlooked VA benefits and can save borrowers thousands of dollars. You are exempt if any of the following apply:
Service-connected disability: If you receive VA disability compensation for a service-connected condition rated at 10% or higher, you pay no funding fee. This is by far the most common exemption. Even a 10% disability rating — the minimum — qualifies you. If you have a pending disability claim, you may still be required to pay the fee at closing, but you can claim a refund retroactively once the claim is approved.
Purple Heart recipient: Active-duty service members who have received the Purple Heart and are closing on a home while still on active duty are exempt from the funding fee.
Surviving spouse: Un-remarried surviving spouses of veterans who died in service or from a service-connected disability are exempt and receive VA home loan eligibility as a benefit.
VA Loan vs Conventional: The Real Numbers
The comparison that most people care about is whether the VA loan's no-PMI benefit outweighs the one-time funding fee. The answer is almost always yes, especially for borrowers putting down less than 20%.
The no-PMI advantage compounds every month
On a $350,000 home with 0% down and a conventional loan at 0.8% PMI, you would pay roughly $233 per month in PMI until your balance reaches 78% of the original price — a process that takes about 10 years on a standard 30-year amortization. That is approximately $28,000 in PMI payments. The VA funding fee on the same loan is roughly $7,525 — a one-time charge, after which you pay zero mortgage insurance forever.
Even on a subsequent use at the higher 3.3% fee ($11,550 on a $350,000 loan), the breakeven versus conventional PMI is reached in about 4 years, with growing savings from year 4 through year 30.
VA interest rates are typically lower
VA loans have historically carried interest rates 0.25% to 0.5% below comparable conventional rates. This is because the VA guarantee reduces lender risk, and because VA loans attract highly creditworthy borrowers. On a $350,000 loan, a 0.25% rate advantage reduces your monthly P&I by about $55 and saves roughly $20,000 over 30 years in interest alone.
No down payment preserves your cash
The 0% down option lets veterans purchase a home while keeping cash available for reserves, emergency funds, and home improvements. Since most financial advisors recommend maintaining 3 to 6 months of expenses in liquid savings, this benefit is particularly valuable for first-time buyers who have not had time to accumulate a large down payment.
VA Loan Eligibility Requirements
To use a VA home loan, you must have a Certificate of Eligibility (COE) from the VA. Eligibility is generally available to:
Active duty service members who have served 90 consecutive days during wartime or 181 days during peacetime. Veterans who meet the same service requirements and were discharged under other than dishonorable conditions. National Guard and Reserves members who have completed 6 years of service or 90 days of active duty deployment under Title 10 orders. Surviving spouses of veterans who died in service or from a service-connected disability, provided they have not remarried (with certain exceptions).
You can obtain your COE through eBenefits (VA.gov), through your lender's automated system, or by mail. Most VA-approved lenders can pull your COE electronically in minutes.
Frequently Asked Questions
What is the VA funding fee in 2026?
For first-time use with 0% down, the fee is 2.15% for regular military and 2.40% for Reserves/National Guard. With 5–9.99% down it drops to 1.5% for both groups. With 10%+ down it is 1.25%. For subsequent use with 0% down it is 3.3%. Veterans with a service-connected disability rating of 10% or more are completely exempt and pay $0.
Who is exempt from the VA funding fee?
Veterans receiving VA disability compensation for a service-connected disability rated at 10% or higher. Purple Heart recipients on active duty at closing. Surviving spouses of veterans who died in service or from a service-connected disability. If you have a pending disability claim, pay the fee at closing and file for a refund once your claim is approved — refunds are processed retroactively.
Can I get a VA loan with no down payment?
Yes. VA loans require no down payment for eligible veterans with full entitlement. There is no VA-imposed loan limit for veterans with full entitlement. You do pay a funding fee (unless exempt), which is rolled into the loan. No private mortgage insurance is required at any down payment level — one of the most significant financial benefits of the program.
Is a VA loan better than a conventional loan?
For eligible veterans, yes — in almost every scenario with less than 20% down. No PMI, lower interest rates, and no down payment requirement make VA loans substantially better for most veterans. The one-time funding fee is nearly always less than the cumulative PMI you would pay on a conventional loan. The comparison table in the calculator above shows your specific numbers side by side.
Does the VA funding fee get rolled into the loan?
Yes — the overwhelming majority of VA borrowers roll the funding fee into the loan balance rather than paying cash at closing. This slightly increases your loan amount and monthly payment but preserves your cash for reserves. The calculator above includes the rolled-in fee in all payment calculations.
What are the VA loan limits in 2026?
For veterans with full entitlement — meaning no active VA loans and no previously foreclosed VA loans — there is no loan limit. You can borrow as much as a lender will approve based on your income and creditworthiness. For veterans with remaining entitlement (an existing active VA loan), the standard conforming limit applies ($806,500 in most counties for 2026, higher in designated high-cost areas).
What credit score do I need for a VA loan?
The VA itself does not set a minimum credit score. However, most VA-approved lenders require a minimum score of 580 to 620, with 640+ preferred for the most favorable terms. Because VA loans carry a government guarantee, lenders are often more flexible on credit score than with conventional loans — particularly for borrowers with strong income and low debt-to-income ratios.
Can I use a VA loan more than once?
Yes. VA loan benefits are reusable as long as you have entitlement available. If you have sold your previous VA home and paid off the loan (or had another qualified veteran assume it), your entitlement is fully restored. You can also have two VA loans simultaneously if you have sufficient remaining entitlement. Subsequent use loans carry a higher funding fee (3.3% at 0% down) unless you qualify for an exemption.