VA Loan Calculator 2026
VA Loan Calculator 2026
No PMILoan Details
VA allows $0 down. 0.0% down = $0
2026 avg VA 30yr: ~6.3–6.8%
VA Eligibility
Property Costs
Your VA Loan Summary
✓ VA saves $67.17/mo vs. FHA = $24,181 over 30 years.
Based on your results — what to do next:
How much home can you afford?
Your $2,697.30/mo PITI maps to a specific income requirement. Check the 28/36 rule before applying.
What are your closing costs?
VA loans have reduced closing costs (no origination fee cap of 1%), but you still owe title, appraisal, and prepaid items on a $350,000 purchase.
Compare vs. a conventional mortgage
Your VA rate of 6.5% gives a $2,259.80/mo P&I. See if a conventional loan at a higher rate with no funding fee is cheaper long-term.
This VA loan calculator computes your exact monthly PITI payment for a 2026 VA-backed mortgage — including the VA funding fee (0% for disabled veterans, 1.25–3.30% otherwise), principal & interest, property taxes, and homeowners insurance. Unlike FHA or conventional loans, VA loans require no PMI and allow $0 down payment. The calculator also shows how your VA payment compares to FHA and conventional loan alternatives.
How VA Loan Payments Are Calculated
A VA loan payment consists of four components: the VA funding fee (rolled into the loan), principal and interest (P&I), property taxes (T), and homeowners insurance (I). The formula for the monthly P&I payment uses the standard amortization formula.
M = Loan × [r(1+r)ⁿ] / [(1+r)ⁿ − 1]
PITI = M + (Price × Tax Rate / 12) + (Insurance / 12)
| Variable | Description | 2026 Notes |
|---|---|---|
| VA Funding Fee | 1.25–3.30% (or 0%) | Based on down payment, use count, and disability status |
| r (monthly rate) | Annual rate ÷ 12 | 2026 avg VA 30yr: ~6.3–6.8% |
| n (months) | Term × 12 | 360 for 30yr, 180 for 15yr |
| PMI | $0 | VA loans never require PMI — saves $100–$400/mo vs. conventional |
Worked example: $350,000 home, $0 down, first-time VA use (2.15% fee), 6.5% rate, 30 years. Loan = $350,000 × 1.0215 = $357,525. Monthly P&I = $357,525 × [0.005417 × (1.005417)³⁶⁰] / [(1.005417)³⁶⁰ − 1] = $2,262/mo. Add ~$321/mo taxes (1.1%) + $117/mo insurance = $2,700/mo PITI total.
💡 Pro-Tip for Veterans
Disability Rating = Free Money at Closing: If you have any service-connected disability rating — even 10% — you are exempt from the VA funding fee. On a $350,000 loan, that exemption saves $7,525 (2.15%) or up to $11,550 (3.30% for subsequent use). Many veterans don't apply for their disability rating until after they buy — check VA.gov before your closing date. Additionally, if you have a disability rating, many states offer full or partial property tax exemptions that can save thousands per year. In Texas, 100% disabled veterans pay $0 in property taxes on their primary residence.
VA Loan FAQ
Can I use a VA loan more than once?
Yes, VA loans can be used multiple times. If you've paid off a previous VA loan (or sold the home), your full entitlement is restored and you can use a VA loan again — though the funding fee increases to 3.30% for subsequent use with less than 5% down. You can also have two VA loans simultaneously if you have remaining entitlement and meet income requirements.
What credit score is needed for a VA loan?
The VA itself has no minimum credit score requirement, but most lenders set their own minimum of 620 FICO. Some lenders specialize in VA loans and may approve borrowers as low as 580. Your credit score primarily affects your interest rate — a 740+ score typically qualifies for rates 0.5–1.0% lower than a 620 score, saving $150–$300/month on a $350,000 loan.
Is the VA funding fee tax deductible?
The VA funding fee was deductible as mortgage insurance premiums through tax year 2021, but Congress did not extend this provision for 2022+. As of 2026, the VA funding fee is NOT deductible as a standalone expense. However, if you itemize deductions, your mortgage interest is still deductible, and the funding fee increases your loan basis which affects depreciation calculations if the property becomes a rental.
What are the VA loan limits in 2026?
Since the Blue Water Navy Vietnam Veterans Act of 2020, eligible veterans with full entitlement have NO VA loan limit — you can borrow as much as a lender will approve. VA loan limits only apply to borrowers with remaining entitlement (e.g., two VA loans at once). The 2026 conforming loan limit is $806,500 in most areas ($1,209,750 in high-cost areas), above which VA "jumbo" loans may require a small down payment.
How long does VA loan approval take?
VA loan closing typically takes 30–45 days, similar to conventional loans. The extra step is the VA appraisal (called a VA fee appraisal), which must be done by a VA-approved appraiser and typically takes 7–10 business days. VA appraisers enforce Minimum Property Requirements (MPRs) — the home must be safe, structurally sound, and sanitary — so fixer-uppers may not qualify without repairs.