How this VA funding fee calculator works
The fee applies to the base loan amount, not the purchase price. For VA-backed purchase loans, the current VA table lists 2.15% for first use or 3.3% after first use with less than 5% down; 1.5% with at least 5% down; and 1.25% with at least 10% down. A confirmed exemption sets the fee to zero.
base loan = purchase price − down paymentfunding fee = base loan × applicable VA fee ratefinanced loan = base loan + funding fee (when financed)Understanding your results
The monthly figure is principal and interest only. It excludes property tax, homeowners insurance, HOA charges, other closing costs, prepaid items, and any lender-specific fees. VA states that the program does not require monthly mortgage insurance.
Frequently asked questions about the VA funding fee
Who is exempt from the VA funding fee?
VA lists several exemptions, including certain borrowers receiving or eligible to receive compensation for a service-connected disability, certain surviving spouses, and qualifying active-duty Purple Heart recipients. Eligibility details matter; verify the exemption on your Certificate of Eligibility and with VA or your lender.
Can the VA funding fee be financed?
VA allows the funding fee to be included in the loan or paid in full at closing. Financing reduces upfront cash but increases principal and interest over time. VA says other purchase-loan closing costs generally cannot be financed into the VA loan.
Do VA loans require PMI?
No monthly private mortgage insurance is required by the VA home-loan program. A one-time funding fee may apply unless the borrower is exempt. Property insurance, taxes, and other housing costs remain separate.