Active duty or Veteran? Use this va mortgage calculator with taxes and insurance to see your true monthly payment, including the VA Funding Fee and 0% down payment options.
VA Mortgage Calculator
VA Mortgage Calculator with Taxes and Insurance Formula
The total monthly payment for a VA loan includes the loan repayment (based on the funded loan amount) plus monthly portions of taxes and insurance:
Where P&I_Funded uses the standard amortization formula on the Total Loan Amount (Base Loan + VA Funding Fee).
Variables
- Base Loan: Home Price minus Down Payment.
- Total Loan: Base Loan + (Base Loan × Funding Fee %).
- P&I: Principal and Interest on Total Loan.
- T&I: Monthly Taxes and Insurance.
Related Calculators
- VA Funding Fee Calculator
- VA Disability Exemption Calculator
- Military BAH Calculator
- Refinance IRRRL Calculator
What is VA Mortgage Calculator with Taxes and Insurance?
A va mortgage calculator with taxes and insurance is specifically designed for eligible Veterans, Service Members, and survivors. VA loans are unique because they allow 0% down payments and do not require Private Mortgage Insurance (PMI), regardless of equity.
However, they do include a VA Funding Fee, which is a one-time cost (usually between 1.25% and 3.3% of the loan) that most borrowers choose to finance (roll into the loan). This calculator accounts for that fee, ensuring your monthly payment estimate is accurate.
How to Calculate VA Mortgage (Example)
Example: $300,000 home, 0% down, 2.15% Funding Fee (First use).
- Base Loan: $300,000.
- Funding Fee: $300,000 × 2.15% = $6,450.
- Total Loan Amount: $306,450.
- P&I (6%, 30yr): Based on $306,450 ≈ $1,837.
- Taxes/Ins: Assume $350 Tax + $100 Ins = $450/mo.
- Total Payment: $1,837 + $450 = $2,287.
Frequently Asked Questions (FAQ)
The VA loan program is backed by the federal government, which protects lenders against loss. This government guarantee replaces the need for Private Mortgage Insurance (PMI), saving borrowers significant money.
Most borrowers do, but there are exceptions. Veterans receiving VA compensation for a service-connected disability and surviving spouses of veterans who died in service are typically exempt from the Funding Fee.
Usually no. VA guidelines generally require lenders to set up an escrow account to pay property taxes and hazard insurance on your behalf.
Yes. The fee percentage depends on your down payment size and whether you have used the VA home loan benefit before. Larger down payments result in lower funding fees.