VA Loan Calculator
VA mortgage with no down payment
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VA Loan Calculator turns the numbers behind VA mortgage with no down payment into a result, step by step. You supply Home Price ($), Interest Rate (%) and Loan Term (yrs) to VA Loan; the answer follows at once. Every VA Loan answer can be reproduced by hand. That makes VA Loan handy for quick estimates anywhere. VA Loan is privacy-first: Finance inputs stay offline. VA Loan sits in the Finance section next to free online va loan calculator and va loan calculator veteran mortgage. Run VA Loan twice to find the driving input. Open VA Loan and enter your numbers.
What the payment comes to
On a $350,000 purchase at 6.25% over 30 years, with the 2.15% VA funding fee rolled into the loan, the principal and interest payment is $2,201.34 a month.
The financed amount is $357,525, not $350,000 — the funding fee is 2.15% of $350,000, or $7,525, added to the balance. What the payment does not include is mortgage insurance, because VA loans do not charge it.
How the loan amount is built
VA does not require a down payment, so the base loan equals the price: $350,000. The funding fee is then 2.15% for a first use with no down payment — $7,525 — and most borrowers finance it rather than paying cash. Total financed: $357,525.
The monthly payment is standard amortisation: M = P × r(1+r)n / ((1+r)n − 1) with r = 0.0625/12 = 0.005208 and n = 360. That gives $2,201.34.
Worked example
Base $350,000. Fee 2.15% = $7,525. Financed $357,525 at 6.25% for 30 years = $2,201.34/month. Over the full term the interest paid is about $435,000.
Put 10% down instead and the fee falls to 1.4%: $31,500 down, $4,452 fee, $322,952 financed, payment about $1,988. The down payment does two things at once — it shrinks the balance and lowers the fee percentage.
What the fee depends on
- First or subsequent use. 2.15% first time, 3.3% for a later VA loan with less than 5% down.
- Down payment. 10% or more drops the first-use fee to 1.4%; 5% gives 1.5%.
- Exempt borrowers. Veterans receiving VA disability compensation, and surviving spouses, pay no fee at all — often the single largest saving available.
- Cash vs financed. Paying the fee in cash lowers the balance and every future interest payment on it.
What this payment leaves out
Property tax, homeowners insurance and any HOA dues are not in the figure, and they are usually escrowed, so the amount actually drafted each month is higher. VA also does not charge monthly PMI — on a comparable conventional loan with 0% down, that alone would be several hundred dollars a month.
Frequently Asked Questions
Why is the loan $357,525 rather than $350,000?
Because the 2.15% funding fee ($7,525) is financed into the balance instead of paid at closing. If you pay it in cash, the loan stays at $350,000 and the payment drops to about $2,155.
Does a VA loan really have no PMI?
Correct — there is no monthly mortgage insurance premium on a VA loan, at any down payment. That is why the payment is often lower than a conventional 0%-down loan even at a similar rate.
When is the funding fee waived?
For veterans receiving VA compensation for a service-connected disability, for surviving spouses eligible for Dependency and Indemnity Compensation, and for some other limited categories. The exemption is worth checking before you finance the fee.
What is the fee if I put 10% down?
1.4% for a first use, down from 2.15%. On a $350,000 purchase that is $4,452 rather than $7,525, on top of the lower balance the down payment creates.
Does this include taxes and insurance?
No. The $2,201.34 is principal and interest only. Add property tax, homeowners insurance and HOA dues — typically escrowed — to reach the total monthly housing cost.
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