Calculate PITI payment, funding fee, extra-payment savings, equity milestones, and compare VA vs conventional vs FHA — built for veterans & active-duty military.
Loan Details
$0 down — VA allows 0% down payment
Affects VA funding fee rate
🏡 Closing Cost EstimatorEst. $—
Origination Fee (≤1% VA limit)—
VA Appraisal Fee$600
Title Insurance & Search$900
Recording & Gov't Fees$200
Prepaid Escrow (3 mo.)—
Est. Total Closing Costs—
Results
🎖️ VA Loan
Monthly PITI Payment
$—
P&I + Tax + Insurance
vs Conventional
$—
saved per month
🛡️
$— estimated lifetime PMI savings vs a conventional loan — VA loans never require mortgage insurance.
🛡️ No PMI🏠 0% Down OK⭐ Competitive Rates💰 No Prepayment Penalty🎖️ Fee Exempt
P&I Payment
—
Property Tax/mo
—
Insurance/mo
—
Total Loan
—
Funding Fee
—
LTV Ratio
—
Mo. vs Conv
—
Total Interest
—
PITI = P&I + Tax + Ins + HOAFee = Loan × Rate%Loan = Price − Down + FeeSavings = Conv − VALTV = Loan ÷ Price × 100
VA Funding Fee Rates
Down Payment
First Use
Subsequent Use
0% ★ YOUR TIER
2.15%
3.30%
5% – 9.99% ★ YOUR TIER
1.50%
1.50%
10%+ ★ YOUR TIER
1.25%
1.25%
✓ Disabled veterans & Purple Heart recipients are exempt from the funding fee.
📉 Tip: 1 discount point (~1% of loan) reduces your rate by ~0.25% — check the buydown analysis in the Scenario tab.
📋 First time using VA benefits? Request your Certificate of Eligibility (COE) at VA.gov before applying.
Rate Scenarios
Bear (+1%)
—
—
Monthly P&I
Base (Current)
—
—
Monthly P&I
Bull (−1%)
—
—
Monthly P&I
Home Price vs Interest Rate → Monthly P&I
📊 30-Year Lifetime Total Cost Comparison
💎 Rate Buydown Analysis
Point Cost
$0
New Rate
—
New P&I
—
Break-even
—
VA vs Conventional vs FHA — Full Comparison
Item
🎖️ VA Loan
Conventional
FHA
Calculate to see comparison
⚡ Accelerated Payoff Calculator
Extra payments reduce principal faster — saving interest and shortening your loan term.
💰
Pay off — early · Save — in interest · New payoff: —
🎯
20% Equity
—
—
🏠
50% Paid Off
—
—
⭐
75% Paid Off
—
—
🏆
Full Payoff
—
—
Total Interest Paid
—
Total Paid (P+I)
—
Interest-to-Principal
—
Period
Payment
Principal
Interest
Balance
Calculate to see schedule
How to Use This Calculator
1
Enter Loan Details
Input the home price, any down payment, interest rate, and loan term. Use the closing cost expander to estimate cash to close.
2
Review VA Benefits
See your monthly savings vs conventional, lifetime PMI savings, and funding fee based on your usage and down payment tier.
3
Accelerate Your Payoff
In the Amortization tab, add extra monthly or lump-sum payments to see how much interest you can save and how early you can pay off.
Formula & Methodology
VA Funding Fee
Funding Fee = Loan Amount × Fee Rate%
The fee rate varies by service type (first use vs. subsequent) and down payment tier (0%, 5–9.99%, 10%+). Disabled veterans and Purple Heart recipients are fully exempt.
Monthly Savings vs. Conventional
Monthly Savings = (Conv P&I + PMI) − VA P&I
VA loans eliminate PMI (private mortgage insurance), creating significant monthly savings especially when putting less than 20% down on a conventional loan.
A mortgage guaranteed by the Department of Veterans Affairs, available to eligible service members, veterans, and surviving spouses. Requires no PMI and allows 0% down payment.
VA Funding Fee
A one-time fee (1.25–3.3% of loan) that funds the VA loan program. It can be financed into the loan. Disabled veterans and Purple Heart recipients are fully exempt.
Certificate of Eligibility (COE)
The document proving your VA loan eligibility, obtained through VA.gov or your lender. Required before closing on a VA loan.
VA Entitlement
The amount the VA guarantees on your loan. Full entitlement (restored or never used) means no down payment required regardless of loan size.
IRRRL
Interest Rate Reduction Refinance Loan — a VA streamline refinance that lets you lower your rate with minimal paperwork and no appraisal required.
Real-World Examples
Example 1
First-Time VA Purchase, Zero Down
Home: $400,000 · Down: $0 · Rate: 6.5% · 30 years · First use
$350,000 home · 6.75% · 30 years · $300/mo extra payment
Payoff in ~24.5 years vs 30 years · Interest savings ≈ $71,000 · Equity reaches 50% about 4 years sooner.
Maximizing Your VA Loan Benefit
Zero Down Is the Headline Benefit
VA loans are the only major loan type that allows 0% down with no monthly mortgage insurance. For a $400,000 home, this saves $80,000 in down payment and $200+/month in PMI compared to conventional financing with less than 20% down.
Understanding the Funding Fee
The VA funding fee (1.25–3.3%) replaces PMI as a one-time cost. Disabled veterans and Purple Heart recipients are exempt entirely. For others, a 5–10% down payment significantly reduces the fee percentage. The fee is typically financed into the loan.
Accelerate Your Payoff
Even small extra monthly payments have a powerful compounding effect. Adding $200/month to a 30-year $350,000 VA loan at 6.75% saves over $60,000 in interest and pays off the loan 5 years early.
VA Loan Reuse and IRRRL
VA loan benefits can be used multiple times. The Interest Rate Reduction Refinance Loan (IRRRL) lets you refinance with minimal paperwork and no appraisal to take advantage of lower rates without paying full closing costs.