Mortgage Rates
Refinance Rates
FHA Rates
VA Rates
Jumbo Rates
Adjustable Rate Mortgage Rates
Interest Only Mortgage Rates
Non-Owner Occupied Rates
Home Equity Loan Rates
X
$Get Personalized Mortgage Quotes

  • Compare Multiple Offers
  • Lowest Rates
  • Free
  • No Obligation
  • Real-Time Rates
  • Local Lenders
  • Easy-to-use
  • Free
No thanks, I just want to keep using this cool mortgage calculator
FREEandCLEAR Calculator

VA Loan Calculator

Our VA Loan Calculator enables you to calculate your monthly mortgage payment, the VA loan limit in your county and the VA funding fee based on your loan amount. Our VA Loan Calculator also determines your estimated total housing expense including your principal and interest payment, property tax and hazard insurance so that understand the total monthly cost for a VA loan. You can input different mortgage rates, loan lengths and mortgage amounts to compare numerous financing options. VA loan rates are usually lower than conventional mortgage rates plus you are not required to pay an ongoing mortgage insurance fee so your monthly loan payment remains low. Use our VA Loan Calculator to select the loan amount, length and monthly payment that fit your financial budget and personal goals. When you submit your inputs we match you with up to four leading VA lenders so that you can confirm your mortgage terms and compare multiple proposals to find the loan that is right for you. We also offer a version of this calculator that does not require personal information.

Inputs
x
When you provide valid personal info we may connect you with lenders which enables you to compare mortgage proposals and find the mortgage that is right for you. Click here for a version of this calculator that does not require personal info
 
Outputs
 
Estimated property purchase price based on your VA loan amount and your down payment
 
The size of your mortgage relative to the value of your property. If your mortgage size is $80,000 and the property purchase price is $100,000, the LTV ratio is 80%
 
The VA loan limit in your county. You may be able to exceed the loan limit if you make a down payment
 
The VA Program requires the borrower to pay an up-front VA Funding Fee. The VA Funding Fee varies depending on type of military service, down payment amount and if this is this is your first time using the VA program
 
This figure represents an estimate only. Property tax and insurance rates vary by state, county and property
 
Total monthly housing expense including your mortgage payment (principal and interest), property taxes and hazard insurance
 
The VA mortgage program enables military personnel and veterans to purchase a property with no down payment. VA mortgage program qualification guidelines are typically more conservative than qualification quidelines for conventional mortgages. Additionally, the VA mortgage program also requires that the borrower have a minimum level of residual income, the amount of net income that is leftover after deducting monthly housing expense plus expenses related to all other monthly debt.
Rate Details*
Loan Program:  
Monthly Payment:  
APR:  
Rate:  
Points  More Info:
Points: Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
 
Total Lender Fees:  
Loan type:  
Property Value:  
Loan to Value:  
Credit Rating:  
Date Submitted:  
Monthly Housing Payments
P & I More Info
Principal & Interest: A periodic payment, usually paid monthly, that includes the interest charges for the period plus an amount applied to the reduction of the principal balance.
Mortgage Insurance More Info
Mortgage Insurance: The monthly cost for a policy that protects the lender in case you’re unable to repay the full amount of the loan. It is typically required for loans that have a loan-to-value ratio between 80% to 100%.
(Estimated)
Property Tax More Info
Property Tax: (Also called "Real Estate Tax.") Property taxes are government assessments on real estate property. With mortgage financing, the local, county or state tax assessment on real estate property is considered part of the monthly housing obligation and typically collected and set aside by the lender ...
(Estimated)
Homeowner Insurance More Info
Homeowner Insurance: or also commonly called hazard insurance, is the type of property insurance that covers private homes. It is an insurance policy that combines various personal insurance protections, which can include losses occurring to one’s home, its contents, loss of its use, or loss of other personal possessions of the homeowner, as well as liability insurance for accidents that may happen at the home or at the hands of the homeowner within the policy territory.lender ...
(Estimated)
Homeowner Association Fee More Info
Homeowner Association fee: (HOA) fees are funds that are collected from homeowners in a condominium complex to obtain the income needed to pay (typically) for master insurance, exterior and interior (as appropriate) maintenance, landscaping, water, sewer, and garbage costs.
(If Any)
Total Monthly Housing Payments
Lender Fees
Points More Info
Points Fees you are willing to pay in order to get a lower interest rate. The number of points refers to the percentage of the loan amount that you would pay. For example, "2 points" means a charge of 2% of the loan amount.
Origination Fee More Info
Origination Charge: A loan origination charge is a fee charged by the lender for evaluating, processing, and closing the loan.
Credit Report Fee More Info
Credit Report Fee: Fee charged to obtain an applicant’s credit history prepared by one or all of the three major credit bureaus. Used by lender to determine the borrower’s creditworthiness.
Tax Service Fee More Info
Tax Service Fee: A fee charged by the lender to cover the cost of retaining a tax service agency. These agencies monitor the property tax payments on the property and report the results to the lender.
Processing Fee More Info
Processing Fee: A processing fee is a charge by the lender for clerical items associated with the loan. Examples of processing include loan set up, organization of loan conditions for underwriting, and preparing required disclosures for the borrower.
Underwriting Fee More Info
Underwriting Fee: A fee charged by the lender to verify information on the loan application, authenticate the property’s value, and perform a risk analysis on the overall loan package.
Wire Transfer Fee More Info
Wire Transfer Fee: In most cases lenders wire funds to escrow companies to fund a loan. Commercial banks that perform this function will charge the lender so the fee is generally passed on to the borrower.
(If Any)
FHA Upfront Premium More Info
FHA Upfront Premium: A fee paid in cash at the close of escrow or more commonly it is financed into the loan. These premiums are pooled together by the FHA and are used to insure the risk of borrower default on FHA loans. FHA upfront premiums are prorated over a five year period, meaning should the homeowner refinance or sell during the first five years of the loan, they are entitled to a partial refund of the FHA upfront premium paid at loan inception.
(If any)
VA funding Fee (If any)
Flood Fee
Other Fees More Info

Other fees could be either additional Administrative Fees that a lender charges or it could be a Flat Fee to cover all lender charges such as: (Origination Fees, Points, Underwriting and Processing Fees, Credit Reports and Tax Service Fees)

The flat fee does not include prepaid items and third party costs such as appraisal fees, recording fees, prepaid interest, property & transfer taxes, homeowners insurance, borrower’s attorney’s fees, private mortgage insurance premiums (if applicable), survey costs, title insurance and related services.

Total Lender Fees
*Actual rates and other information may vary. Sponsored results shown only include participating lenders. The information you enter on this page will only be shared with lenders you choose to contact, either by calling the phone number or requesting a quote.
Compare VA Mortgage Rates as of September 19, 2018
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. The actual payment obligation will be greater if taxes and insurance are included. Click here for more information on rates and product details.
While we pride ourselves on the quality and breadth of the FREEandCLEAR mortgage calculators please note that they should be used for informational purposes only. Our calculators rely on assumptions by us and inputs and assumptions provided by you, which may be inaccurate. The outputs from our calculators are estimates only and should not be used as the sole basis for making any financial decisions. Always consult multiple financial professionals when determining the mortgage size and program that is appropriate for you.

Reasons to Get a VA Loan (If You Are Eligible)

1

Attractive Mortgage Terms

If you are eligible for a VA loan then chances are you have earned it through your service and sacrifice to our country. The good news is that VA loans usually offer borrowers attractive terms including a lower mortgage rate than conventional loans and many other no or low down payment programs. A lower VA mortgage rate helps you keep your monthly payment low and reduces your total interest expense over the course of your loan, which saves you money in the short term and long run. Although most applicants are required to pay a one-time VA funding fee when their mortgage closes, the fee can be added to your loan amount plus other closing costs for a VA loan tend to be lower. Although VA loan terms are favorable for borrowers it is still important to shop multiple lenders to find the mortgage with the lowest interest rate and closing costs.  Our VA Loan Calculator enables you to compare the monthly payment for loans with different mortgage rates.

2

Buy a Home With Zero Down Payment

In addition low mortgage rates, another important benefit of the VA program is the ability to buy a home with no money down. This program feature makes homeownership significantly more attainable for applicants and you may also be able to afford more home because you are not required to make a down payment. For example, instead of using $10,000 you may have saved for a down payment, you could use those funds to buy a higher priced home with a VA loan. Alternatively, you could use those funds to pay for your closing costs including the VA funding fee if you do not want to include it in your loan amount. In short, buying a home with zero money down is a tremendous opportunity for eligible VA applicants.

3

No Monthly Mortgage Insurance

Unlike most other no or low down payment mortgage programs, the VA Mortgage Program does not require borrowers to pay an ongoing mortgage insurance fee along with their monthly loan payment. The FHA and USDA home loan programs require borrowers to pay an ongoing mortgage insurance premium and conventional low down payment programs usually require borrowers to pay private mortgage insurance (PMI) until they have over 20% equity in their homes. Not requiring monthly mortgage insurance can save VA borrowers hundreds of dollars a month and thousands of dollars over their loan so this is another major benefit of the VA Program.

4

Ability to Exceed VA Mortgage Limits

Similar to other mortgages, the VA Home Loan Program applies loan limits that vary by county and the number of units in the property, up to a maximum of four units. What makes VA mortgage limits different is that borrowers have the ability to exceed the limits if they contribute a down payment. In short, if borrowers are willing to make a down payment that represents 25% of the amount by which their mortgage is greater than the loan limit, then they may be able to qualify for the mortgage. For example, if the VA loan limit in your county is $400,000 but you need a $500,000 loan, then you could qualify for the mortgage if you make a down payment of $25,000 ($500,000 (loan amount) - $400,000 (VA loan limit) = $100,000 x 25% = $25,000 down payment). The ability to qualify for a mortgage amount that is greater than the loan limit is not available through other low down payment programs, which highlights the financing flexibility afforded by the VA Program. Although it is important to understand the VA mortgage limit in your county -- especially if you have limited funds for a down payment -- it is also helpful to know that your loan amount can exceed the limit if you have sufficient funds for a down payment. Use our VA Loan Calculator to determine how your loan amount compares to the mortgage limit for your county.

5

Fewer Borrower Restrictions

Some mortgage programs apply borrower income limits or restrict where a property is located to be eligible for the best loan terms. The VA Program, however, does cap a borrower’s income or apply different qualification guidelines depending on a property’s location. This makes it easier to qualify for a VA loan and expands the housing options available to applicants. You can buy any type of one-to-four unit property with a VA mortgage as long as you occupy the property as your primary residence. Additionally, not applying income limits is helpful for eligible veterans who may have experienced an increase in earnings after they left the military.

More FREEandCLEAR Mortgage Resources

Mortgage Guides

How a VA Home Loan Works

Review our in-depth explanation of the VA Mortgage Program including eligibility requirements, qualification guidelines and property restrictions. Learn if you are eligible for a VA home loan and understand the benefits of the program.

Resources

VA Loan Rates

Review updated VA mortgage rates and fees for leading lenders. Compare key loan terms including monthly payment, total upfront costs and APR to find the VA loan that is right for you.

Mortgage Calculators

VA Mortgage Qualification Calculator

Determine what size VA mortgage you can afford for based on your monthly gross income, debt payments and other factors including if this is your first time using the VA Program. Learn how much home you can buy with a VA mortgage.

Ask a Mortgage Expert

Ask a Mortgage Expert

Got mortgage questions? We love answering them -- especially the tough ones. Submit your mortgage questions and receive an informative response within 24 hours. This feature is free and completely confidential.

FREEandCLEAR is not affiliated with or endorsed by any government agency
X

Get Free Personalized Mortgage Quotes

First Name:
Last Name:
Phone Number:
Email:

My Mortgage Info

Mortgage Type
Credit Score
Loan Amount
Property Value
City
State
GET FREE Quotes
FREEandCLEAR.comThank you for submitting your information!
FREEandCLEAR.comYour mortgage quote request has been sent to our lending partners and you should receive emails from multiple lenders shortly
FREEandCLEAR.comComparing proposals from multiple lenders is the best way to save money on your mortgage!