VA Loan Calculator
Estimate your monthly VA home loan payment, the VA funding fee (with the disability exemption), and your remaining entitlement for a second VA loan.
Enter your interest rate to see an estimate.
VA funding fee rates
From VA.gov, rate charts effective April 7, 2023. The fee is a percentage of the loan amount, not the home price.
| Down payment | First use | After first use |
|---|---|---|
| Less than 5% | 2.15% | 3.3% |
| 5% or more | 1.5% | 1.5% |
| 10% or more | 1.25% | 1.25% |
| Loan type | Funding fee |
|---|---|
| Cash-out refinance, first use | 2.15% |
| Cash-out refinance, after first use | 3.3% |
| IRRRL | 0.5% |
How entitlement works
With full entitlement, VA sets no loan limit. Your lender decides how much you can borrow. If you have entitlement tied up in a VA loan you're keeping, VA.gov describes this calculation: take 25% of the county one-unit loan limit, subtract the entitlement already charged, and you have your remaining entitlement. Most lenders will lend up to four times that with no down payment. Above that, they usually want your entitlement plus your down payment to cover 25% of the loan.
Who doesn't pay the funding fee
Per VA.gov, you're exempt if any of these apply:
- You receive VA compensation for a service-connected disability.
- You're eligible for that compensation but receive retirement or active-duty pay instead.
- You receive Dependency and Indemnity Compensation (DIC) as a surviving spouse.
- You're a service member with a proposed or memorandum rating, before closing, saying you're eligible for compensation from a pre-discharge claim.
- You're on active duty and, on or before closing, show evidence you received a Purple Heart.
The calculator leaves out other closing costs, mortgage insurance (VA loans don't require it), and lender fees. Check your Loan Estimate for those.
Official sources
Estimates for education only. Confirm numbers with your lender, finance office, or the official source before you decide anything.