Mortgage MindscapeSmart Financial Calculators

VA Loan Calculator

Estimate your monthly payments for a VA home loan with 0% down and no PMI.

Loan Details
Enter your mortgage information to calculate monthly payments
$400,000
$80,000 (20.0%)
6.500%

Pay every 2 weeks to save interest

Private Mortgage Insurance (required if down payment < 20%)VA loans require a Funding Fee instead of PMI.

Monthly Payment
$2,600.93
Total Monthly Cost

Save $6,781.99 with Biweekly Payments

Switching to biweekly payments would pay off your loan 0.1 years earlier and save you thousands in interest.

Principal & Interest$2,050.93
Property Tax$400
Home Insurance$150
Debt-to-Income Estimate41.6% - fair

Based on median US household income. Target: under 28%

Loan Summary
Loan Amount$324,480
Total Interest$413,859.67
Total Cost of Loan$936,889.67
Payoff DateJan 2056
Total Payments361 months
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Top VA Lenders for 2025

Exclusive rates for Veterans and Active Duty Military

Sponsored
V
Veterans United
#1 VA Lender for homebuyers. Specialized service for veterans and military families.
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N
Navy Federal
Exclusive rates and low fees for members of the armed forces and their families.
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P
PenFed Credit Union
Great VA rates and member benefits. No origination fees on VA loans.

Benefits of VA Home Loans

VA loans are widely considered the best mortgage product on the market for eligible borrowers. Backed by the Department of Veterans Affairs, they offer significant advantages over conventional and FHA loans.

Why Choose a VA Loan?

  • 0% Down Payment: Buy a home with no money down.
  • No PMI: Never pay monthly private mortgage insurance.
  • Lower Interest Rates: VA rates are typically lower than conventional rates.
  • Flexible Credit Requirements: Easier to qualify with lower credit scores.

Who is Eligible?

You may be eligible for a VA loan if you meet one of these requirements:

  • Served 90 consecutive days of active service during wartime.
  • Served 181 days of active service during peacetime.
  • Served more than 6 years in the National Guard or Reserves.
  • Are the spouse of a service member who died in the line of duty or as a result of a service-related disability.

Frequently Asked Questions