How this calculator works
- Down payment: none is required for borrowers with full entitlement. A down payment of 5% or more lowers the funding fee.
- Funding fee: a one-time fee from the VA's chart, usually added to the loan. For a purchase it is 2.15% with less than 5% down on first use (3.3% after first use), 1.5% with 5% or more down, and 1.25% with 10% or more down.
- The fee is the same for every branch of service. Regular military, National Guard and Reserve members pay the same rates, so the calculator only asks whether this is your first VA loan and whether you're exempt.
- No monthly mortgage insurance. Your payment is principal and interest, property tax, homeowners insurance and any HOA dues.
Who pays no funding fee
Veterans who receive VA compensation for a service-connected disability (or qualify for it but take retirement or active-duty pay instead), surviving spouses who receive Dependency and Indemnity Compensation, service members with a pre-discharge disability rating issued before closing, and active-duty members who show proof of a Purple Heart before closing. Check the box above if that's you.