Calculate your VA loan payment with funding fee. VA loans offer $0 down payment and no monthly mortgage insurance for eligible veterans and service members.
VA loans are backed by the Department of Veterans Affairs and offer significant benefits: $0 down payment, no monthly mortgage insurance (PMI), and competitive interest rates for eligible veterans, active-duty service members, and some surviving spouses.
The funding fee is a one-time charge that helps sustain the VA loan program. For regular military, it's 2.15% for first-time use and 3.3% for subsequent use (with $0 down). Reservists pay slightly more. Veterans with 10%+ service-connected disability are exempt.
A VA loan is backed by the Department of Veterans Affairs. It offers significant benefits to eligible veterans, active-duty service members, and some surviving spouses: $0 down payment, no monthly mortgage insurance, and competitive rates.
The funding fee is a one-time charge that sustains the VA loan program. For regular military it's 2.15% for first-time use and 3.3% for subsequent use with $0 down. Veterans with a 10%+ service-connected disability are exempt.
A: Yes. Your VA entitlement can be restored and reused, though the funding fee is higher for subsequent uses.
A: As of 2020, VA loans have no set limit for borrowers with full entitlement, though lenders set their own limits.
A: No. There's no PMI, though you do pay the one-time funding fee.