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Get pre-qualified by a local lender to see an even more accurate estimate of your monthly mortgage payment.
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How much house can you afford? Use our affordability calculator to estimate what you can comfortably spend on your new home.

Interested in refinancing your existing mortgage? Use our refinance calculator to see if refinancing makes sense for you.

Your debt-to-income ratio helps determine if you would qualify for a mortgage. Use our DTI calculator to see if you’re in the right range.

Estimate how much will be paid each month for principal and interest over the life of the loan with our amortization calculator.
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
Down Payment
ZIP Code
Loan Program
Interest Rate
Property Tax
Home Insurance
HOA Dues
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:
- Veterans
- Active-duty personnel
- Reserve members
- National Guard members
- 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:
- No down payment is required, unless your purchase price exceeds the VA loan limits for your area.
- No monthly mortgage insurance premium (MIP) or private mortgage insurance (PMI) is required.
- VA loans typically have lower average interest rates than other loan types.
- 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.
- VA loans do not have prepayment penalties.
- VA loans are assumable, as long as the person assuming the loan qualifies.
- 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.
Recognized Salt Lake Board of Realtors Top 500 in 2019
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