Mortgage Calculator Veteran

Expert Financial Reviewer: David Chen, CFA

This VA Mortgage Calculator is regularly reviewed for accuracy and compliance with current financial guidelines. Last updated: December 2025.

Calculate your estimated monthly payment for a VA loan, including PITI (Principal, Interest, Taxes, Insurance) and the VA Funding Fee. This tool provides an essential forecast for U.S. Veterans.

Mortgage Calculator Veteran

Estimated Monthly Payment (PITI + Fee)

$0.00

Monthly Principal & Interest (P&I):

Total Estimated Interest Paid:

Detailed Calculation Steps

The steps will appear here after calculation.

Mortgage Calculator Veteran Formula

1. Monthly Interest Rate (i): R / 1200

2. Number of Payments (n): N_years * 12

3. VA Funding Fee (F): P * R_funding / 100

4. Adjusted Principal (P’): P + F

5. Monthly Principal & Interest (M_PI): P’ [ i(1 + i)ⁿ / ((1 + i)ⁿ – 1) ]

6. Total Monthly Payment (M_Total): M_PI + (Annual Tax / 12) + (Annual Insurance / 12)

Formula Sources: VA Official Financial Info, Investopedia Mortgage Guide

Variables Explained

• Loan Principal: The initial amount borrowed before adding the VA Funding Fee.
• Annual Interest Rate: The nominal interest rate applied to the loan, expressed as a percentage.
• Loan Term (Years): The length of time over which the loan is scheduled to be repaid (e.g., 15 or 30 years).
• VA Funding Fee Percentage: A mandatory fee for VA loans, calculated as a percentage of the loan amount, which is often financed into the loan.
• Annual Property Tax: The estimated annual tax bill for the property. This is typically included in your escrow account.
• Annual Home Insurance: The cost of the homeowner’s insurance premium, also typically included in escrow.

Related Calculators

Explore other financial tools for effective planning:

• Refinance Break-Even Calculator
• Debt-to-Income Ratio Estimator
• VA Funding Fee Only Calculator
• Loan Amortization Schedule

What is a VA Mortgage Calculator?

A VA Mortgage Calculator is a specialized financial tool designed specifically for U.S. service members, Veterans, and eligible surviving spouses who qualify for a home loan guaranteed by the Department of Veterans Affairs (VA). Unlike conventional mortgage calculators, the VA calculator incorporates unique components like the mandatory VA Funding Fee and helps forecast the complete monthly payment, often referred to as PITI (Principal, Interest, Taxes, and Insurance).

The primary benefit of a VA loan is the zero down payment requirement and the elimination of mandatory private mortgage insurance (PMI). However, the inclusion of the VA Funding Fee—which varies based on service type, down payment amount, and prior use of the VA loan benefit—makes this specialized calculator necessary for accurate financial planning. Understanding the total monthly payment is crucial for a smooth home-buying process.

How to Calculate Your VA Mortgage Payment (Example)

1. Determine the Initial Variables: Let’s assume a Loan Principal ($250,000), Annual Rate (6.0%), Term (30 Years), VA Funding Fee (2.15%), Annual Tax ($3,600), and Annual Insurance ($1,200).
2. Calculate the Financed Principal: Multiply the principal by the funding fee percentage (2.15% of $250,000 = $5,375). Add this fee to the principal: $250,000 + $5,375 = $255,375 (Adjusted Principal).
3. Find the Monthly P&I: Use the monthly compounding formula with the Adjusted Principal ($255,375), Monthly Rate (6.0% / 12 = 0.5%), and total payments (30 * 12 = 360). This yields the P&I payment.
4. Determine Monthly Taxes and Insurance: Divide the annual amounts by 12. ($3,600 / 12 = $300 for Tax; $1,200 / 12 = $100 for Insurance).
5. Calculate Total Monthly Payment: Sum the P&I payment, the monthly Tax, and the monthly Insurance to get your final PITI+Fee monthly obligation.

Frequently Asked Questions (FAQ)

Is the VA Funding Fee required on every VA loan?

No. The VA Funding Fee is waived for Veterans receiving VA compensation for a service-connected disability, as well as for some surviving spouses.

Do I have to pay PMI (Private Mortgage Insurance) with a VA loan?

No. One of the greatest benefits of the VA loan program is that it does not require private mortgage insurance, even with no down payment.

Can I calculate a 15-year VA loan?

Yes. Simply change the “Loan Term (Years)” input to 15 years in the calculator to instantly see the impact on your monthly payment.

What is PITI?

PITI stands for Principal, Interest, Taxes, and Insurance. These four components make up the majority of a monthly mortgage payment, especially when taxes and insurance are escrowed.