VA Mortgage Calculator Estimate VA loan payments, compare funding fees, and refinance smarter — with 2025 VA loan rules a...
VA Mortgage Calculator
Estimate VA loan payments, compare funding fees, and refinance smarter — with 2025 VA loan rules and savings insights.
Payment Formula**:
$$PMT = P \frac{r(1+r)^n}{(1+r)^n - 1} + \text{Tax/Insurance}$$
Funding Fee** = Loan Amount × Fee Rate (see table below)
Example** ($350K loan, 6.45%, 30 yrs, 5% down, first-use vet): • P&I = **$2,201** • +$450 tax/insurance = **$2,651/mo** • Funding fee = $350K × 1.5% = **$5,250** • **No PMI** → Saves $182/mo vs. conventional
✅ Pro Tip**: VA loans allow **higher DTI ratios** (up to 60% with residual income analysis) — great for new military families.
⚠️ Avoid these scams & mistakes:
- “Funding fee financing” scams** — Rolling $5K fee + $3K closing → $8K added to loan = $50/mo extra for 30 yrs
- Unlicensed “VA loan specialists”** — Not VA-approved lenders = no VA guarantees
- Ignoring residual income** — VA requires $1,200+/mo leftover after housing/debt (varies by location/family size)
- Overlooking exemptions** — Purple Heart recipients pay **$0 funding fee** (but must apply)
✅ Pro Tips**:
- Get pre-approved through a VA-approved lender
- Use VA IRRRL to refinance with no appraisal/income docs
- Always ask: “Is this rate with or without the funding fee rolled in?”
| Type | Funding Fee | $350K Fee | PMI Savings |
|---|---|---|---|
| First Use, <5% down | 2.15% | $7,525 | $182/mo |
| First Use, ≥5% down | 1.50% | $5,250 | $182/mo |
| Subsequent Use | 3.30% | $11,550 | $182/mo |
| Exempt (PH/Disabled) | 0% | $0 | $182/mo |
📉 VA vs. Conventional (30-yr, $350K)**:
- VA @ 6.45%: **$2,201 P&I**, **$442K interest**, **$5,250 fee**
- Conventional @ 6.8% + $182 PMI: **$2,442 P&I+PMI**, **$456K interest**
- → **VA saves $241/mo, $14K interest, $5K upfront (if exempt)**
📉 IRRRL Refi Savings**:
- $350K @ 7.25% → 5.75%: **$327/mo savings**
- Breakeven: $3,200 / $327 = **9.8 months**
➡️ Standard VA Loan
“$350K loan, 6.45%, 30 yrs, veteran first-use — payment & fee?” → **$2,651/mo, $5,250 fee**
➡️ IRRRL Refinance
“Roll $3,200 fees into loan — breakeven in 10 mos, save $327/mo”
➡️ VA vs. Conventional
Compare total cost: VA wins on rate, no PMI, flexible underwriting
➡️ Funding Fee Planner
“5% down, first use → 1.5% fee = $5,250 on $350K”
Note: Uses VA Circular 26-24-17 (2025 funding fees). Assumes fixed rate, no prepayment penalties, on-time payments.