VA Loan Mortgage Calculator
Department of Veterans Affairs Loan
VA loans are available to eligible veterans, active-duty service members, and surviving spouses. They offer some of the best terms available with no down payment and no PMI.
= $0
Monthly Payment
$2,463
Loan Amount
$400,000
Total Interest
$486,633
Total Cost
$886,633
Payment Breakdown
Down Payment$0 (0.0%)
Principal$400,000 (45.1%)
Total Interest$486,633 (54.9%)
Min Down Payment
0%
$0 on $400,000
Typical Rate
6.25%
30-year fixed
Monthly Payment
$2,463
0% down on $400,000
Loan Limit
No limit
varies by lender
VA Loan Requirements
- •Must be veteran, active duty, or eligible surviving spouse
- •Certificate of Eligibility (COE) required
- •Property must be primary residence
- •Must meet VA appraisal standards
- •VA funding fee applies (can be financed)
Pros
- +No down payment required
- +No private mortgage insurance (PMI)
- +Competitive interest rates (typically lower)
- +No prepayment penalty
- +Assumable by qualified buyers
Cons
- −VA funding fee of 1.25-3.3%
- −Primary residence only
- −Must be eligible veteran or service member
- −Property must meet VA minimum property requirements
- −Can take longer to close than conventional
VA Loan Payments by Home Price
| Home Price | Down (0%) | Loan Amount | Monthly P&I | Total Interest |
|---|---|---|---|---|
| $150,000 | $0 | $150,000 | $924 | $182,487 |
| $200,000 | $0 | $200,000 | $1,231 | $243,316 |
| $250,000 | $0 | $250,000 | $1,539 | $304,145 |
| $300,000 | $0 | $300,000 | $1,847 | $364,975 |
| $350,000 | $0 | $350,000 | $2,155 | $425,804 |
| $400,000 | $0 | $400,000 | $2,463 | $486,633 |
| $450,000 | $0 | $450,000 | $2,771 | $547,462 |
| $500,000 | $0 | $500,000 | $3,079 | $608,291 |
| $600,000 | $0 | $600,000 | $3,694 | $729,949 |
| $700,000 | $0 | $700,000 | $4,310 | $851,607 |
| $750,000 | $0 | $750,000 | $4,618 | $912,436 |
| $800,000 | $0 | $800,000 | $4,926 | $973,266 |
| $900,000 | $0 | $900,000 | $5,541 | $1,094,924 |
| $1,000,000 | $0 | $1,000,000 | $6,157 | $1,216,582 |
$400,000 VA Loan by Rate
| Rate | 15-Year | 30-Year | Total Interest (30yr) |
|---|---|---|---|
| 5.5% | $3,268 | $2,271 | $417,616 |
| 6% | $3,375 | $2,398 | $463,353 |
| 6.5% | $3,484 | $2,528 | $510,178 |
| 6.75% | $3,540 | $2,594 | $533,981 |
| 7% | $3,595 | $2,661 | $558,036 |
| 7.25% | $3,651 | $2,729 | $582,334 |
| 7.5% | $3,708 | $2,797 | $606,869 |
| 8% | $3,823 | $2,935 | $656,621 |