VA Purchase Calculator

Estimate Your Mortgage Payment for New VA Home Loan

Use the calculator below to get a good idea of what your monthly mortgage payments will look like if you purchase a new home using a VA loan.

Disclaimer: These calculations are an estimate only and not a guarantee. For a more accurate calculation, you must speak with a licensed VA loan officer.

Contact a Licensed VA Loan Officer

To discuss the details of a new VA home loan, you can connect with one of our expert loan officers by:

  • Filling out our online request form,
  • Calling (844) 325-4778,
  • Or chatting with an agent by clicking the green bar at the very bottom of your screen

Loan Calculator Key

Purchase Price – The asking price of the home you want to buy. If you don't have a specific home in mind, you can select a dollar amount within the average range of home prices for the neighborhood(s) you're looking in.

Down Payment – The is the amount of money you will be able put down towards the cost of the home. Unless you want to see how a down payment will affect those cost of your monthly payment, you can choose to leave this field at $0 since VA loans do not require a down payment.

Rate – The percentage of interest you will be charged monthly. These rates change daily, so make sure you have a decent idea of the day's rates each time you use the calculator. At Low VA Rates, if we don't offer you the lowest rate, we'll pay you $250, guaranteed!

Property Taxes – An additional cost typically determined by the county where a home is located. Many online home searching sites or a real estate agent can give you a good idea of what real estate taxes will be in your area. If you are a disabled veteran, you may be exempt from paying property taxes, so check with your county.

Homeowners Insurance – An additional expense that may be required by your lender. A homeowners insurance policy will help cover the cost of repairing or rebuilding your home in case of fire or other potential hazards. To get a quote on a home insurance policy, you can contact our sister company, Low VA Rates Insurance Agency, or you can simply use the defaulted 0.35% rate.

Term – The total time you will have to pay back your loan. A 30 year loan term is the most popular, but a 15 year loan term typically has lower rates, though the payment will be higher because the term is shorter.

Prior VA loans affect the VA funding fee. The funding fee is charged by the Department of Veterans Affairs for all non-disabled veterans each time they do a VA loan.

If you receive 10% or more disability from the VA, the VA will waive the funding fee.