Using the VA Mortgage Calculator
Use the fee that applies to your circumstances rather than relying on the illustrative default. If the borrower is exempt from the fee, use zero. The calculator does not determine exemption status.
Worked example
Use the example inputs below to reproduce this result. These are the form's starting values, not recommended targets. Changing your inputs updates your result above; this worked example stays fixed for comparison. Results are rounded for display.
Example inputs
- Amount borrowed
- 20000
- Annual interest rate (%)
- 6
- Term (months)
- 60
- Financed upfront fee (%)
- 2.15
- Monthly mortgage insurance
- 0
Example result
- Monthly payment
- 394.97
- Total payments
- 23,698.15
- Total interest
- 3,268.15
- Financed balance
- 20,430
- Monthly payment including insurance
- 394.97
Method and assumptions
Illustrative fees only; verify your actual lender/program fees, exemptions and insurance duration. Excludes property taxes, homeowners insurance and eligibility assessment.
Build a complete housing comparison
A housing calculation usually answers one part of a larger decision. Keep the purchase price, financing, recurring ownership expenses and eventual sale assumptions in separate lines of your budget. This makes it easier to spot costs omitted by a particular model. When comparing alternatives, use the same time horizon and currency for both.
Common question
What if I pay the upfront fee in cash?
Set the financed fee to zero and account for the cash fee separately in your closing budget. This avoids charging interest on money that was not borrowed.
Guide updated .