Loan Calculators

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Home Value $
Monthly
Total
Downpayment (%)
20%
Loan Term (yrs)
30
Interest Rate (%)
1.5%

For Buyers and Borrowers using VA Home Loans

Veterans, Service Members, and Qualified Surviving Spouse of Veterans that use a VA or Jumbo VA home loan to purchase or refinance a home are able to finance up to 100% of the purchase price or value. Another advantage of a VA loan is that while lending up to 100% of the value, there is no monthly PMI charged which keeps the mortgage payment lower than comparable loans. VA loans do have a VA funding fee which is financed on top of the base loan amount. This fee pays for the loan guarantee of Veteran Affairs. The amount of the VA funding fee varies based on 1) the type of service member, 2) whether it is the first time or subsequent use, and 3) if it is a purchase, regular refinance, or VA Interest Rate Reduction Refinancing Loan (IRRRL).

Use the charts below to calculate your VA funding fee and total loan amount. Learn more about VA Home Loans here

Type Of VeteranDown Payment% for 1st Time Use% for Following Use
Regular MilitaryNone
5% or more
10% or more
2.15%
1.50%
1.25%
3.3% *
1.50%
1.25%
Reserves / National GuardNone
5% or more
10% or more
2.4%
1.75%
1.5%
3.3% *
1.75%
1.5%

VA Cash-Out Refinancing Home Loans

Note: There are no reduced VA funding fees for regular VA refinances based on equity. Reduced fees only apply to purchase loans where a down payment of at least 5 percent is made. If a Veteran is 10% or more disabled by the VA, then the funding fee is waived. Learn more about VA Home Loans here

Type Of Veteran% for 1st Time Use% for Following Use
Regular Military2.15%
3.3% *
Reserves / National Guard2.4%
3.3% *

*The higher subsequent use fee does not apply to these types of loans if the Veteran’s only prior use of entitlement was for a manufactured home loan. Check out helpful VA loan articles here

Type Of LoanPercentage for Either Type of Veteran Whether First Time or Subsequent Use
IRRLs.50%
Manufactured Home Loans (NOT permanently
affixed)
1.00%
Loan Assumptions.50%