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What kind of home can you afford through your VA home loan benefit?
Home loan and mortgage offerings can vary dramatically, based on your lender, location, loan type and loan amount, to name some factors.
That's why it is best to shop multiple loan providers to get comfortable with the lingo, options and requirements. Use this calculator to estimate your payments for different scenarios and find providers that offer VA loans and/or conventional mortgages and work with both active military and veterans.
If you're looking to compare actual rate quotes now, our VA Loan finder will match you with up to five personalized quotes from different lenders, with no obligation or credit check required.
Your VA loan is one of your most valuable military benefits, and a VA loan calculator is a great place to get started. That’s because not only can you learn how VA loan use might impact your finances, but using a VA loan calculator also can get you one step closer to shopping for the right VA loan lender.
The loan calculator is a great place to start if you're unsure where to begin when estimating your VA home loan payments.
Adjust the required fields to fit your home buying situation, and the calculator will immediately update the estimated monthly loan payment.
The potential purchase price of the home. This does not include your down payment.
Your down payment is the amount you pay up front towards your loan principal. There is no down payment required for VA loans. However, putting money down can reduce the VA funding fee and your monthly payment.
Interest rates vary based on a number of factors, including credit score. Enter your estimated credit score for a more accurate VA loan payment.
The interest rate is a percentage of the amount borrowed charged to the borrower. Your ultimate interest rate may differ; rates in the calculator are for informational purposes only.
Loan term is the length of time you wish to borrow. This is typically 15 or 30 years.
Property tax is generally about 1.2% of the home's value. The property tax may vary by location.
Homeowners insurance is typically 0.35% of the home’s value. The rate can vary based on the insurer.
Once you’ve used the VA loan calculator to understand what you can afford and are ready to leverage the VA loan benefit you earned through your military service, it will be helpful to learn about the VA loan process.
The VA loan benefit gives qualifying veterans a path to home ownership, but it comes with some costs and fees. Some of those, such as the funding fee, can be waived for qualifying veterans.
Our VA loan finder can match you with up to five rate quotes from different lenders. Check it out now!