VA Mortgage Calculator: What Can You Afford with a VA Loan?

A VA loan is one of the most powerful financial benefits available to eligible veterans, active-duty service members, and surviving spouses — and one of the most underused. No down payment required. No private mortgage insurance. Competitive interest rates that typically run 0.25–0.5% below conventional loans. These aren't small advantages: on a $350,000 home, avoiding a down payment saves $70,000 upfront, and eliminating PMI saves $150–300/month for years. The trade-off is the VA funding fee — a one-time charge (0.5%–3.3% of the loan amount, depending on down payment and whether it's your first use) that replaces the PMI and down payment that conventional lenders require. This fee can be rolled into the loan, so you don't pay it out of pocket. Understanding exactly what this fee costs and how it compares to the alternatives is what this calculator is designed to show you. This tool calculates your VA loan monthly payment, total funding fee cost, lifetime interest, and — critically — the dollar comparison vs. a conventional loan for the same purchase price. Most veterans who run this comparison discover their VA benefit is worth $30,000–80,000+ in lifetime savings depending on loan size, even after accounting for the funding fee. Use this before any home purchase decision to understand the full value of your benefit.