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The VA funding fee, tiered

What does the VA guarantee cost on this loan?

The VA funding fee is one number set by three facts: whether you have used your entitlement before, how much you are putting down, and whether you are exempt. There is no monthly mortgage insurance behind it.

The loan

The fee steps down at 5% and again at 10%.

Your entitlement

Funding fee—A single charge, assumed financed into the loan
Fee rate—
Base loan—
Financed after the fee—

Monthly mortgage insurance: —

Against a conventional loan at the same down payment

Conventional PMI, per month—
Conventional PMI, in total—

—

The fee at each down-payment tier

This loan, monthly

Principal & interest—
Total monthly—

What this page assumes, and where it comes from

Every field starts from a placeholder you can change. The interest rate is a round starting number, not a quote, not an average, and not tied to a date — this site publishes no rates. The tax, insurance and mortgage-insurance rates are typical orders of magnitude, not your county’s or your insurer’s.
The VA funding fee follows the schedule in 38 U.S.C. 3729 as amended: 2.15% on a first use with less than 5% down, 1.50% at 5%, 1.25% at 10% or more, and 3.30% on a subsequent use under 5% down. Borrowers receiving VA compensation for a service-connected disability, Purple Heart recipients on active duty and eligible surviving spouses are exempt. VA loans carry no monthly mortgage insurance.
The schedule is a level-payment amortisation: interest is the balance times the monthly rate, and everything else reduces principal. Extra payments are applied to principal in the month you set.
Every figure this calculator produces is an illustration. It uses the published rules for amortisation and mortgage insurance, and states its assumptions on the page, but it cannot know your credit profile, your county’s tax assessment or an insurer’s pricing. Treat the shape of the answer as useful and the exact dollar as a placeholder.

Questions this raises

Do VA loans have mortgage insurance?

No. There is no monthly mortgage insurance on a VA loan at any loan-to-value, including zero down. The funding fee is a single charge, normally financed into the loan, and that is the whole of the guarantee cost.

Who is exempt from the funding fee?

Veterans receiving VA compensation for a service-connected disability, those who would be entitled to it but for retirement pay, Purple Heart recipients serving on active duty, and eligible surviving spouses. If you are exempt the fee is zero, not reduced.

Why does a down payment cut the fee?

The fee prices the VA’s guarantee, and the guarantee is smaller when you have equity in the deal. It steps down at 5% and again at 10%. On a subsequent use of the entitlement with nothing down it steps sharply up instead.

Ask a person about this

A real lender would want these five things before it could say anything useful.

This form is a demonstration. Submitting it validates your entries and shows you the confirmation state. Nothing is saved, nothing is sent, and nobody will call you. See the README for the single seam where real delivery would be wired in.

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