Looking for a user-friendly tool? Use this zillow mortgage calculator va inspired utility to estimate your monthly VA loan payments, including the VA Funding Fee, property taxes, and home insurance.
VA Mortgage Calculator
Zillow Mortgage Calculator VA Formula
This calculator simulates the functionality of top real estate portals by combining the VA Funding Fee into the loan principal and adding monthly escrow estimates:
The Financed Loan Amount is the core of the P&I calculation: (Home Price – Down Payment) × (1 + Funding Fee %).
Variables
- Base Loan: The price of the home minus any down payment.
- Funding Fee: A government fee (1.25% – 3.3%) rolled into the loan.
- P&I: Monthly Principal & Interest based on the total financed amount.
- Escrow: Monthly property tax and homeowner’s insurance payments.
Related Calculators
What is Zillow Mortgage Calculator VA?
Users searching for zillow mortgage calculator va are looking for a high-quality, easy-to-use estimation tool similar to Zillow’s interface but specifically tailored for Veterans Affairs (VA) loans. VA loans are unique because they offer 0% down payment options and require no Private Mortgage Insurance (PMI).
However, they usually include a VA Funding Fee, which most borrowers choose to finance. This calculator automatically handles that math, showing you the real monthly impact of rolling that fee into your mortgage.
How to Calculate VA Mortgage (Example)
Scenario: $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: $306,450.
- P&I (6.5%, 30yr): Based on $306,450 ≈ $1,937.
- Taxes/Ins: $350 (Tax) + $100 (Ins) = $450/mo.
- Total Payment: $1,937 + $450 = $2,387.
Frequently Asked Questions (FAQ)
Most comprehensive calculators, including Zillow’s and this one, allow you to include the VA Funding Fee. It is a critical component because financing it increases your loan balance and monthly interest costs.
VA loans are government-backed, which protects the lender against default. This guarantee replaces the need for Private Mortgage Insurance (PMI), a major cost saving advantage over FHA or Conventional loans.
VA loans typically have more flexible credit requirements than conventional loans. While there is no official minimum credit score, most lenders look for a score of at least 620.
Generally, no. The funding fee is paid to the VA to help keep the loan program running. However, veterans with a service-connected disability are often exempt from paying the fee entirely.