VA Loan Calculator

Who qualifies for a VA loan?

• Active-duty service members (90 days continuous service in wartime, 181 in peacetime)
• National Guard or Reserves (6+ years, or 90 days called to active duty)
• Veterans with honorable or general discharge meeting service minimums
• Surviving spouses of service members who died in service or from a service-connected disability

You must obtain a Certificate of Eligibility (COE) from the VA before closing. Most lenders can pull this for you electronically.

Why VA loans are the best deal in US mortgage

• 0% down payment — no other major program offers this (FHA requires 3.5%, conventional 3-5%)
• No PMI ever — saves $100-300/mo vs FHA or low-down conventional. Over 30 years, that's often $40-100k in savings
• Lower interest rates — VA loans typically beat conventional rates by 0.25-0.50%
• Assumable — a future buyer can take over your VA loan at your locked-in rate. In a high-rate market, this is a huge selling point worth tens of thousands
• Reusable — your VA benefit isn't one-and-done. You can use it again after paying off the previous VA loan, or use any remaining entitlement on a second property

The VA funding fee

The funding fee is the VA's way of keeping the program self-sustaining (no monthly mortgage insurance, but a one-time fee instead). For 2025:

• First use, 0% down: 2.15% of loan amount
• Subsequent use, 0% down: 3.30% of loan amount
• 5%-9% down: 1.50% (first or subsequent)
• 10%+ down: 1.25% (first or subsequent)
• Service-connected disability: completely waived
• Surviving spouse receiving DIC: completely waived

The funding fee can be financed into the loan — you don't need to bring cash to the table for it.

Should you put any money down on a VA loan?

Most VA borrowers put 0% down — it's the entire point of the benefit. But putting 5%+ down drops the funding fee from 2.15% to 1.50%, which on a $400k loan saves $2,600. If you have the cash, the math is worth running.