VA mortgage payment with the 2026 funding fee and no PMI
Updated 2026-10-02
A VA loan payment is principal and interest on the loan plus the VA funding fee (if you finance it), plus property tax, homeowners insurance and HOA dues. There is no monthly mortgage insurance. Enter the price, down payment and rate: the calculator applies the funding fee from VA.gov's rate chart for first or later use and shows the full monthly payment. Compare an FHA loan · check your mortgage DTI.
Your VA loan
Your VA payment
Monthly payment
$3,065.82
P&I $2,515.82 + tax, insurance & HOA $550.00
VA funding fee
$8,600
2.15% of $400,000
Loan amount
$408,600
cash at closing (down + fee) $0
Total interest
$497,095
over the full term
Estimates for planning, not a loan offer or financial advice. Every rate and cost here is a number you enter or an example you can change; confirm figures with your lender.
VA funding fee rates (VA.gov, in effect 2026)
The fee is a percentage of the loan amount, not the price. These are the rate charts on VA.gov (rate charts effective April 7, 2023; page updated September 22, 2026) for veterans, active-duty service members and National Guard and Reserve members:
VA funding fee for purchase and construction loans
Down payment
First use
After first use
Less than 5%
2.15%
3.3%
5% or more
1.5%
1.5%
10% or more
1.25%
1.25%
Other VA loans on the same page: cash-out refinance 2.15% (first use) or 3.3% (after first use), Interest Rate Reduction Refinance Loan 0.5%, loan assumption 0.5%. VA's own example: a first-time user buying a $200,000 home with $10,000 down pays 1.5% of the $190,000 loan, or $2,850.
How the payment is calculated
Base loan = price − down · Fee = base loan × fee % · Loan = base loan + fee (if financed) · P&I = Loan × r ÷ (1 − (1 + r)−n)
r is the annual rate divided by 12 and n the number of monthly payments. Property tax and insurance are divided by 12 and added with HOA dues. Because there is no monthly mortgage insurance, nothing else is added.
Worked example
A $400,000 home with nothing down on first use: the fee is 2.15% of $400,000, $8,600, so the loan is $408,600. At 6.25% for 30 years principal and interest is $2,515.82; with $4,800 a year in tax and $1,800 in insurance the payment is $3,065.82. Over the full term interest totals $497,095.
How this calculator works, in plain language
The VA doesn't lend the money; it guarantees part of the loan, so a lender can accept little or no down payment and charge no monthly mortgage insurance. In exchange most borrowers pay a one-time funding fee. The calculator takes your price and down payment, looks up the fee in VA's chart from your down payment and whether you have used the benefit before, adds the fee to the loan if you finance it, and works out the monthly payment the same way as any fixed-rate mortgage. Tax, insurance and HOA dues are added on top so you see the full amount the lender will qualify you on.
VA payments by scenario
Six common VA purchases at an example 6.25% for 30 years, funding fee financed, fee rates from VA.gov (checked October 2, 2026). Tax, insurance and HOA dues are left out so the loan costs compare directly.
VA loan amount, funding fee and payment by scenario
Scenario
Base loan
Fee rate
Funding fee
Loan with fee
P&I
Total interest
$300,000 home, 0% down, first use
$300,000
2.15%
$6,450
$306,450
$1,886.87
$372,822
$400,000 home, 0% down, first use
$400,000
2.15%
$8,600
$408,600
$2,515.82
$497,095
$400,000 home, 0% down, second use
$400,000
3.3%
$13,200
$413,200
$2,544.14
$502,692
$400,000 home, 5% down
$380,000
1.5%
$5,700
$385,700
$2,374.82
$469,236
$400,000 home, 10% down
$360,000
1.25%
$4,500
$364,500
$2,244.29
$443,444
$400,000 home, disability exempt
$400,000
0%
$0
$400,000
$2,462.87
$486,633
Second use with nothing down costs $4,600 more in fee than first use on the same home. The exempt row shows what the fee adds to the payment: $52.95 a month on a $400,000 loan. On a $300,000 home the first-use fee is $6,450.
Common VA loan calculator mistakes
Charging the fee on the price. VA charges it on the loan amount, so a down payment lowers it twice: a smaller rate tier and a smaller base.
Using the first-use rate on a second loan. After first use the no-down-payment fee rises to 3.3%. Pick "after first use" above if you've had a VA loan before.
Adding PMI. VA loans have no monthly mortgage insurance. A calculator that adds it overstates the payment.
Forgetting tax and insurance. They often add hundreds a month and lenders count them. Enter them above, then check your mortgage DTI.
Paying the fee when exempt. If you receive disability compensation, make sure your Certificate of Eligibility shows the exemption before closing.
VA rules to check with your lender
Loan limits: with full entitlement there is no VA loan limit (VA.gov); the lender still decides how much you qualify for.
Rate and closing costs: VA doesn't set your rate, points or most closing costs; compare several lenders.
Prices and savings as of Oct 15, 2026, 5:05 AM UTC. Product prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on Amazon.com at the time of purchase will apply to the purchase of this product.
For a VA-backed purchase or construction loan it is 2.15% of the loan amount on first use with less than 5% down, 1.5% with 5% or more down and 1.25% with 10% or more down. After first use it is 3.3% with less than 5% down; the 5% and 10% tiers stay at 1.5% and 1.25%. These are VA's rate charts effective April 7, 2023, still on VA.gov in 2026.
Who doesn't have to pay the VA funding fee?
VA.gov lists veterans receiving (or eligible for) VA compensation for a service-connected disability, surviving spouses receiving Dependency and Indemnity Compensation, service members with a proposed or memorandum disability rating before closing, and Purple Heart recipients on active duty. Tick the exemption box above to remove the fee.
Does a VA loan have PMI?
No. VA.gov says the program doesn't require a down payment or monthly mortgage insurance; the one-time funding fee takes its place. That is why the payment above is principal, interest, tax, insurance and HOA dues only.
How much is the payment on a $400,000 VA loan?
A $400,000 home with 0% down and the 2.15% first-use fee financed is a $408,600 loan. At 6.25% for 30 years principal and interest is $2,515.82 a month, before property tax, insurance and HOA dues. Rates here are examples; use your own quote.
Is there a VA loan limit in 2026?
Not with full entitlement. VA.gov says a borrower with full entitlement doesn't have a loan limit, as long as the lender approves the amount and the appraisal supports the price. With reduced entitlement (another VA loan still open), a limit based on the county conforming limit can mean a down payment above a certain price.
Can I roll the VA funding fee into the loan?
Yes. VA.gov says you can include the funding fee in your loan and pay it over time, or pay it in full at closing. Financing it raises the loan amount and the monthly payment; untick the box above to compare.
Does a down payment lower the VA funding fee?
Yes. On a $400,000 home, 5% down cuts the fee to 1.5% ($5,700) and 10% down to 1.25% ($4,500), against $8,600 with nothing down. The down payment also shrinks the loan, so the payment falls to $2,244.29 with 10% down.
What does a VA cash-out refinance cost in funding fee?
VA.gov lists 2.15% of the loan for first use and 3.3% after first use, whatever your equity. An Interest Rate Reduction Refinance Loan (IRRRL) is 0.5%. To size a cash-out loan against your home's value, use the cash-out refinance calculator on this site.
