VA Mortgage Calculator

The VA funding fee is a one-time charge paid to the VA to offset the cost of its loan guarantee program. It ranges from 0% (for disabled veterans and Purple Heart recipients) to 3.3% (for subsequent purchases) and is financed into your principal.

Veterans, active-duty service members, National Guard and Reserve members, and surviving spouses of eligible veterans may qualify for a VA-guaranteed loan with a Certificate of Eligibility (COE) from the VA.

Yes. Veterans with a 0% service-connected disability rating, Purple Heart recipients, and some surviving spouses are exempt. State and local governments may offer additional exemptions.

VA loans typically offer lower interest rates, no down payment requirement, no private mortgage insurance (PMI), more flexible credit requirements, and a one-time VA funding fee instead of monthly insurance. The VA guarantees a portion of the loan, reducing lender risk.

Apply through VA.gov, by mail, or through your lender using your military service records and identification. Processing typically takes a few days to a few weeks.

VA loan rates vary based on market conditions, loan term, credit score, and personal factors. Check with multiple VA-approved lenders for current rates and terms.

Yes. The VA Interest Rate Reduction Refinance Loan (IRRRL, or "streamline") lets you refinance an existing VA loan with minimal paperwork and a reduced funding fee (0.5% for most borrowers).

The VA does not impose a federally mandated maximum loan amount, but individual lenders may set limits. Some states offer additional VA loan benefits and programs.