VA Mortgage Calculator with Funding Fee
Estimate your VA loan payment and funding fee for a purchase, cash-out refinance or IRRRL.
–
Per Month
- Base loan
- Funding fee rate
- Funding fee (financed)
- Total loan
- Principal and interest
- Taxes and insurance
- Total Interest
Compare
Items you add are saved in this browser.
| Scenario | Loan | Fee | Rate | Payment | Remove |
|---|
How the VA Funding Fee Works
VA loans need no down payment and no monthly mortgage insurance. Instead most borrowers pay a one-time funding fee, a percentage of the loan that's usually added to the loan amount. The rate depends on the loan type, your down payment and whether you've used the benefit before.
Funding fee = base loan × fee rate Total loan = base loan + funding fee (if financed)
Worked Example
VA Funding Fee Rates (Since April 7, 2023)
| Loan | Down Payment | First Use | After First Use |
|---|---|---|---|
| Purchase or construction | Less than 5% | 2.15% | 3.3% |
| Purchase or construction | 5% or more | 1.5% | 1.5% |
| Purchase or construction | 10% or more | 1.25% | 1.25% |
| Cash-out refinance | – | 2.15% | 3.3% |
| IRRRL | – | 0.5% | 0.5% |
From VA.gov. Exempt borrowers (such as veterans receiving VA compensation for a service-connected disability) pay no funding fee.