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VA Mortgage Calculator

Use our VA home loan calculator to estimate your mortgage payment, with taxes and insurance. Simply enter the price of the home, your down payment, and details about the home loan to calculate your mortgage payment breakdown, schedule, and more.
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    Amortization Calculator

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    VA Loan Calculator Help

    Our VA loan payments calculator can help you quickly estimate the monthly mortgage payments for your new home. Here’s the info you’ll need to enter into the VA loan calculator:

    Home Price

    Enter the purchase price of the home you want to buy. The VA limits the amount you can borrow while still putting $0 down.

    Down Payment

    In most cases, VA loans do not require a down payment unless the home purchase price is greater than the VA loan limits for your area.

    ZIP Code

    Enter your ZIP code and the calculator will take your county’s VA loan limits into consideration to let you know if a down payment is required.

    Loan Program

    Your loan program can affect your interest rate and monthly payments. Choose from 30-year fixed, 15-year fixed, and 5/1 ARM in the calculator.

    Interest Rate

    This is pre-filled with the current average mortgage rate. Your actual rate will vary based on factors like credit score and down payment.

    Property Tax

    The mortgage payment calculator includes estimated property taxes based on the home’s value. You can edit this in the advanced options.

    Home Insurance

    Home insurance or homeowners insurance is typically required by lenders. You can edit this number in the VA loan calculator advanced options.

    HOA Dues

    In the VA loan calculator advanced options, you can also add any HOA dues you expect to pay each month.

    More Information About VA Loans

    Who is Eligible for a VA Loan?

    A VA loan is a mortgage that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The list of those who may be eligible for this home-buying benefit includes:

    1. Veterans
    2. Active-duty personnel
    3. Reserve members
    4. National Guard members
    5. Surviving spouses

    To qualify for a VA loan, you must also have suitable credit, sufficient income, and a valid Certificate of Eligibility (COE), and you must use the home as your primary residence.

    VA Loan Benefits

    VA loans carry significant benefits for those who qualify, such as:

    1. No down payment is required, unless your purchase price exceeds the VA loan limits for your area.
    2. No monthly mortgage insurance premium (MIP) or private mortgage insurance (PMI) is required.
    3. VA loans typically have lower average interest rates than other loan types.
    4. The VA limits the amount you can be charged for closing costs, and sellers are allowed to pay all of your loan-related closing costs as well as up to 4 percent in concessions.
    5. VA loans do not have prepayment penalties.
    6. VA loans are assumable, as long as the person assuming the loan qualifies.
    7. The VA may be able to provide assistance if you have issues making payments

    VA Loan Funding Fee

    A VA funding fee is required for VA loans, but veterans with a service-related disability may be exempt. This fee is paid to the VA to help fund the VA home loan program. It can be paid up front at closing or financed into your loan. The amount you’ll pay depends on your type of service, loan amount, down payment and subsequent VA loan usage. Here’s a look at the loan limits for each scenario:

    REGULAR MILITARY

    DOWN PAYMENT
    FUNDING FEE AMOUNT
    (FOR FIRST TIME USE)
    FUNDING FEE AMOUNT
    (FOR SUBSEQUENT USE)
    0% 2.15% 3.3%
    5-10% 1.5% 1.5%
    10%+ 1.25% 1.25%

    RESERVES AND THE NATIONAL GUARD

    DOWN PAYMENT
    FUNDING FEE AMOUNT
    (FOR FIRST TIME USE)
    FUNDING FEE AMOUNT
    (FOR SUBSEQUENT USE)
    0% 2.4% 3.3%
    5-10% 1.75% 1.75%
    10%+ 1.5% 1.5%

    More Resources from Rooted and Company

    Let’s talk about your goals in the home buying or investing process and discuss the best path forward. Please give us a call at 801.449.0602 or send an email to connect@rootedandcompany.com to get in touch.

    Providing the Most Accurate Estimate With Competitive Market Analysis Process.

    We provide the most accurate value of a home for sale. This is over 2x likely to be within 3% of the home’s selling price as other top online home-value estimators. This is not a formal appraisal or substitute for the in-person expertise of a real estate agent or professional appraiser.

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