Exploring your VA home loan benefits? Use this veterans united va mortgage calculator to estimate your monthly payments, including the VA Funding Fee, property taxes, and homeowners insurance.
Veterans United VA Mortgage Calculator
Veterans United VA Mortgage Calculator Formula
This calculator determines your monthly payment by combining the VA Funding Fee into the loan principal, amortizing it over the loan term, and adding monthly escrow costs:
The Financed Loan Amount (used for P&I) is calculated as: (Home Price – Down Payment) × (1 + Funding Fee %).
Variables
- Base Loan: The purchase price minus any down payment.
- Funding Fee: A percentage added to the loan to support the VA program (varies by service type and down payment).
- P&I: Monthly Principal & Interest based on the total financed amount.
- Escrow: Monthly portion of property taxes and homeowners insurance.
Related Calculators
- VA Funding Fee Calculator
- VA Affordability Calculator
- BAH Rate Calculator
- IRRRL Refinance Calculator
What is Veterans United VA Mortgage Calculator?
A veterans united va mortgage calculator is a specialized financial tool for military homebuyers. Veterans United Home Loans is one of the largest VA lenders in the US, and their loan products are tailored to maximize VA benefits, such as 0% down payments and no Private Mortgage Insurance (PMI).
This calculator accounts for the nuances of VA lending, specifically the VA Funding Fee, which most borrowers choose to roll into their loan balance rather than paying upfront. This ensures the monthly payment estimate reflects the true loan amount.
How to Calculate Veterans United VA Mortgage (Example)
Scenario: Buying a home for $400,000 with 0% down and a 2.15% Funding Fee (First Use).
- Base Loan: $400,000.
- Funding Fee: $400,000 × 2.15% = $8,600.
- Total Financed Loan: $408,600.
- P&I (6.0%, 30yr): Based on $408,600 ≈ $2,449.
- Taxes/Ins: Assume $400/mo Tax + $100/mo Ins.
- Total Payment: $2,449 + $400 + $100 = $2,949.
Frequently Asked Questions (FAQ)
Yes. Veterans receiving service-connected disability compensation are typically exempt from the VA Funding Fee. If you are exempt, simply enter “0” in the Funding Fee field.
No. VA loans are backed by the government, which eliminates the need for Private Mortgage Insurance (PMI), even if you put 0% down.
The fee percentage depends on your down payment and whether you’ve used your VA loan benefit before. It generally ranges from 1.25% to 3.3%. Putting 5% or 10% down reduces the fee.
This calculator estimates your monthly payment. Closing costs (like title fees, appraisal, origination) are paid upfront. While the seller can pay some closing costs, they are separate from the monthly P&I calculation.