How much is the VA funding fee?

For a purchase with no down payment it is 2.15% of the loan amount on a first use and 3.3% on a subsequent use. Putting 5% or more down drops it to 1.5%, and 10% or more drops it to 1.25% — those reduced rates apply whether or not it is your first use.

Who is exempt from the VA funding fee?

Veterans receiving VA compensation for a service-connected disability, those entitled to receive it but drawing retirement or active-duty pay instead, Purple Heart recipients serving on active duty, and eligible surviving spouses. Tick the exemption box to remove the fee from the estimate.

Do VA loans have mortgage insurance?

No. There is no monthly mortgage insurance on a VA loan at any loan-to-value, which is the main reason a zero-down VA payment often beats a zero-down alternative. The one-off funding fee is what replaces it.

Is there a VA loan limit?

Since 2020 there is no VA loan limit for a borrower with full entitlement — the lender's own limits and your income apply instead. County loan limits still matter if you have reduced entitlement because of an active VA loan or a prior default.

Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.

VA loan calculator

A VA loan carries no monthly mortgage insurance at any loan-to-value, so the zero-down payment is usually lower than any other zero-down option. What it does carry is a one-off funding fee, tiered by down payment and whether this is your first use of the benefit. This calculator applies the right tier and finances the fee into the balance.

Total monthly payment

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No monthly mortgage insurance

VA funding fee

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Exempt

Principal & interest

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Loan breakdown

Down payment: —
Base loan amount: —
Total financed (base + fee): —
Escrow (tax + insurance): —
Total interest over 30 years: —
Monthly mortgage insurance: None

VA funding fee tiers

VA purchase-loan funding fee by down payment and use
Down payment	First use	Subsequent use
Less than 5%	2.15%	3.3%
5% to less than 10%	1.5%	1.5%
10% or more	1.25%	1.25%

Rates are for purchase and construction loans. Confirm your own entitlement and fee status with the VA funding fee guidance.

VA versus FHA and conventional

The decisive difference is ongoing insurance. FHA charges annual MIP that often runs for the life of the loan; conventional charges PMI until you reach 78% LTV; VA charges nothing monthly. Price the alternatives on the FHA calculator and the PMI calculator, then compare the total monthly figures side by side.

Common questions

How much is the VA funding fee?: For a purchase with no down payment it is 2.15% of the loan amount on a first use and 3.3% on a subsequent use. Putting 5% or more down drops it to 1.5%, and 10% or more drops it to 1.25% — those reduced rates apply whether or not it is your first use.
Who is exempt from the VA funding fee?: Veterans receiving VA compensation for a service-connected disability, those entitled to receive it but drawing retirement or active-duty pay instead, Purple Heart recipients serving on active duty, and eligible surviving spouses. Tick the exemption box to remove the fee from the estimate.
Do VA loans have mortgage insurance?: No. There is no monthly mortgage insurance on a VA loan at any loan-to-value, which is the main reason a zero-down VA payment often beats a zero-down alternative. The one-off funding fee is what replaces it.
Is there a VA loan limit?: Since 2020 there is no VA loan limit for a borrower with full entitlement — the lender's own limits and your income apply instead. County loan limits still matter if you have reduced entitlement because of an active VA loan or a prior default.

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