loan calculator

VA Loan Calculator

VA Loan Calculator with amortization schedule is used to calculate your monthly mortgage payment for your VA home loan. The VA mortgage calculator has everything you need to learn about your monthly mortgage and payments.

VA Mortgage Calculator

Home Value
$
Down Payment
Base Mortgage Amount
$
Loan Terms
Interest Rate
VA Funding Fee
%
Final Mortgage Amount
$
Property Tax (Yearly)
Home Insurance (Yearly)
HOA Fees (Monthly)
Payment Frequency
First Payment Date

Amortization schedule
Extra Payments
One Time
$ On Date
Monthly or Biweekly
$ Starting Date
Quarterly
$ Starting Date
Yearly
$ Starting Date


VA Mortgage Calculator Results

Home Value: $230,000.00
Mortgage Amount: $235,520.00
Monthly Principal & Interest: $1,090.73
Monthly Extra Payment: $0.00
Monthly Property Tax: $195.83
Monthly Home Insurance: $79.17
Monthly HOA Fees: $0.00
Total Monthly Payment:
$1,365.73
Total # Of Payments: 360
Start Date: Sep, 2023
Payoff Date: Aug, 2053
Down Payment: $0.00
Principal (includes funding fee): $235,520.00
Total Extra Payment: $0.00
Total Interest Paid: $157,142.74
Total Tax, Insurance and Fees: $99,000.00
Total of all Payments:
$491,662.74

Mortgage Amortization Schedule

Payment Date Payment # Interest Principal Tax, Insurance & Fees Total Payment Balance
Sep, 2023 1 $736.00 $354.73 $275.00 $1,365.73 $235,165.27
Oct, 2023 2 $734.89 $355.84 $275.00 $1,365.73 $234,809.43
Nov, 2023 3 $733.78 $356.95 $275.00 $1,365.73 $234,452.48
Dec, 2023 4 $732.66 $358.07 $275.00 $1,365.73 $234,094.42
Jan, 2024 5 $731.55 $359.18 $275.00 $1,365.73 $233,735.23
Feb, 2024 6 $730.42 $360.31 $275.00 $1,365.73 $233,374.92
Mar, 2024 7 $729.30 $361.43 $275.00 $1,365.73 $233,013.49
Apr, 2024 8 $728.17 $362.56 $275.00 $1,365.73 $232,650.93
May, 2024 9 $727.03 $363.70 $275.00 $1,365.73 $232,287.23
Jun, 2024 10 $725.90 $364.83 $275.00 $1,365.73 $231,922.40
Jul, 2024 11 $724.76 $365.97 $275.00 $1,365.73 $231,556.43
Aug, 2024 12 $723.61 $367.12 $275.00 $1,365.73 $231,189.31
Sep, 2024 13 $722.47 $368.26 $275.00 $1,365.73 $230,821.05
Oct, 2024 14 $721.32 $369.41 $275.00 $1,365.73 $230,451.63
Nov, 2024 15 $720.16 $370.57 $275.00 $1,365.73 $230,081.07
Dec, 2024 16 $719.00 $371.73 $275.00 $1,365.73 $229,709.34
Jan, 2025 17 $717.84 $372.89 $275.00 $1,365.73 $229,336.45
Feb, 2025 18 $716.68 $374.05 $275.00 $1,365.73 $228,962.40
Mar, 2025 19 $715.51 $375.22 $275.00 $1,365.73 $228,587.18
Apr, 2025 20 $714.33 $376.39 $275.00 $1,365.73 $228,210.78
May, 2025 21 $713.16 $377.57 $275.00 $1,365.73 $227,833.21
Jun, 2025 22 $711.98 $378.75 $275.00 $1,365.73 $227,454.46
Jul, 2025 23 $710.80 $379.93 $275.00 $1,365.73 $227,074.52
Aug, 2025 24 $709.61 $381.12 $275.00 $1,365.73 $226,693.40
Sep, 2025 25 $708.42 $382.31 $275.00 $1,365.73 $226,311.09
Oct, 2025 26 $707.22 $383.51 $275.00 $1,365.73 $225,927.58
Nov, 2025 27 $706.02 $384.71 $275.00 $1,365.73 $225,542.87
Dec, 2025 28 $704.82 $385.91 $275.00 $1,365.73 $225,156.97
Jan, 2026 29 $703.62 $387.11 $275.00 $1,365.73 $224,769.85
Feb, 2026 30 $702.41 $388.32 $275.00 $1,365.73 $224,381.53
Mar, 2026 31 $701.19 $389.54 $275.00 $1,365.73 $223,991.99
Apr, 2026 32 $699.97 $390.75 $275.00 $1,365.73 $223,601.24
May, 2026 33 $698.75 $391.98 $275.00 $1,365.73 $223,209.26
Jun, 2026 34 $697.53 $393.20 $275.00 $1,365.73 $222,816.06
Jul, 2026 35 $696.30 $394.43 $275.00 $1,365.73 $222,421.63
Aug, 2026 36 $695.07 $395.66 $275.00 $1,365.73 $222,025.97
Sep, 2026 37 $693.83 $396.90 $275.00 $1,365.73 $221,629.07
Oct, 2026 38 $692.59 $398.14 $275.00 $1,365.73 $221,230.93
Nov, 2026 39 $691.35 $399.38 $275.00 $1,365.73 $220,831.55
Dec, 2026 40 $690.10 $400.63 $275.00 $1,365.73 $220,430.91
Jan, 2027 41 $688.85 $401.88 $275.00 $1,365.73 $220,029.03
Feb, 2027 42 $687.59 $403.14 $275.00 $1,365.73 $219,625.89
Mar, 2027 43 $686.33 $404.40 $275.00 $1,365.73 $219,221.49
Apr, 2027 44 $685.07 $405.66 $275.00 $1,365.73 $218,815.83
May, 2027 45 $683.80 $406.93 $275.00 $1,365.73 $218,408.90
Jun, 2027 46 $682.53 $408.20 $275.00 $1,365.73 $218,000.70
Jul, 2027 47 $681.25 $409.48 $275.00 $1,365.73 $217,591.22
Aug, 2027 48 $679.97 $410.76 $275.00 $1,365.73 $217,180.46
Sep, 2027 49 $678.69 $412.04 $275.00 $1,365.73 $216,768.42
Oct, 2027 50 $677.40 $413.33 $275.00 $1,365.73 $216,355.09
Nov, 2027 51 $676.11 $414.62 $275.00 $1,365.73 $215,940.47
Dec, 2027 52 $674.81 $415.92 $275.00 $1,365.73 $215,524.56
Jan, 2028 53 $673.51 $417.22 $275.00 $1,365.73 $215,107.34
Feb, 2028 54 $672.21 $418.52 $275.00 $1,365.73 $214,688.82
Mar, 2028 55 $670.90 $419.83 $275.00 $1,365.73 $214,269.00
Apr, 2028 56 $669.59 $421.14 $275.00 $1,365.73 $213,847.86
May, 2028 57 $668.27 $422.46 $275.00 $1,365.73 $213,425.40
Jun, 2028 58 $666.95 $423.78 $275.00 $1,365.73 $213,001.63
Jul, 2028 59 $665.63 $425.10 $275.00 $1,365.73 $212,576.53
Aug, 2028 60 $664.30 $426.43 $275.00 $1,365.73 $212,150.10
Sep, 2028 61 $662.97 $427.76 $275.00 $1,365.73 $211,722.34
Oct, 2028 62 $661.63 $429.10 $275.00 $1,365.73 $211,293.24
Nov, 2028 63 $660.29 $430.44 $275.00 $1,365.73 $210,862.80
Dec, 2028 64 $658.95 $431.78 $275.00 $1,365.73 $210,431.02
Jan, 2029 65 $657.60 $433.13 $275.00 $1,365.73 $209,997.88
Feb, 2029 66 $656.24 $434.49 $275.00 $1,365.73 $209,563.40
Mar, 2029 67 $654.89 $435.84 $275.00 $1,365.73 $209,127.55
Apr, 2029 68 $653.52 $437.21 $275.00 $1,365.73 $208,690.35
May, 2029 69 $652.16 $438.57 $275.00 $1,365.73 $208,251.77
Jun, 2029 70 $650.79 $439.94 $275.00 $1,365.73 $207,811.83
Jul, 2029 71 $649.41 $441.32 $275.00 $1,365.73 $207,370.51
Aug, 2029 72 $648.03 $442.70 $275.00 $1,365.73 $206,927.82
Sep, 2029 73 $646.65 $444.08 $275.00 $1,365.73 $206,483.74
Oct, 2029 74 $645.26 $445.47 $275.00 $1,365.73 $206,038.27
Nov, 2029 75 $643.87 $446.86 $275.00 $1,365.73 $205,591.41
Dec, 2029 76 $642.47 $448.26 $275.00 $1,365.73 $205,143.15
Jan, 2030 77 $641.07 $449.66 $275.00 $1,365.73 $204,693.49
Feb, 2030 78 $639.67 $451.06 $275.00 $1,365.73 $204,242.43
Mar, 2030 79 $638.26 $452.47 $275.00 $1,365.73 $203,789.96
Apr, 2030 80 $636.84 $453.89 $275.00 $1,365.73 $203,336.07
May, 2030 81 $635.43 $455.30 $275.00 $1,365.73 $202,880.77
Jun, 2030 82 $634.00 $456.73 $275.00 $1,365.73 $202,424.04
Jul, 2030 83 $632.58 $458.15 $275.00 $1,365.73 $201,965.89
Aug, 2030 84 $631.14 $459.59 $275.00 $1,365.73 $201,506.30
Sep, 2030 85 $629.71 $461.02 $275.00 $1,365.73 $201,045.28
Oct, 2030 86 $628.27 $462.46 $275.00 $1,365.73 $200,582.81
Nov, 2030 87 $626.82 $463.91 $275.00 $1,365.73 $200,118.90
Dec, 2030 88 $625.37 $465.36 $275.00 $1,365.73 $199,653.55
Jan, 2031 89 $623.92 $466.81 $275.00 $1,365.73 $199,186.73
Feb, 2031 90 $622.46 $468.27 $275.00 $1,365.73 $198,718.46
Mar, 2031 91 $621.00 $469.73 $275.00 $1,365.73 $198,248.73
Apr, 2031 92 $619.53 $471.20 $275.00 $1,365.73 $197,777.53
May, 2031 93 $618.05 $472.68 $275.00 $1,365.73 $197,304.85
Jun, 2031 94 $616.58 $474.15 $275.00 $1,365.73 $196,830.70
Jul, 2031 95 $615.10 $475.63 $275.00 $1,365.73 $196,355.06
Aug, 2031 96 $613.61 $477.12 $275.00 $1,365.73 $195,877.94
Sep, 2031 97 $612.12 $478.61 $275.00 $1,365.73 $195,399.33
Oct, 2031 98 $610.62 $480.11 $275.00 $1,365.73 $194,919.23
Nov, 2031 99 $609.12 $481.61 $275.00 $1,365.73 $194,437.62
Dec, 2031 100 $607.62 $483.11 $275.00 $1,365.73 $193,954.51
Jan, 2032 101 $606.11 $484.62 $275.00 $1,365.73 $193,469.88
Feb, 2032 102 $604.59 $486.14 $275.00 $1,365.73 $192,983.75
Mar, 2032 103 $603.07 $487.66 $275.00 $1,365.73 $192,496.09
Apr, 2032 104 $601.55 $489.18 $275.00 $1,365.73 $192,006.91
May, 2032 105 $600.02 $490.71 $275.00 $1,365.73 $191,516.20
Jun, 2032 106 $598.49 $492.24 $275.00 $1,365.73 $191,023.96
Jul, 2032 107 $596.95 $493.78 $275.00 $1,365.73 $190,530.18
Aug, 2032 108 $595.41 $495.32 $275.00 $1,365.73 $190,034.86
Sep, 2032 109 $593.86 $496.87 $275.00 $1,365.73 $189,537.99
Oct, 2032 110 $592.31 $498.42 $275.00 $1,365.73 $189,039.57
Nov, 2032 111 $590.75 $499.98 $275.00 $1,365.73 $188,539.58
Dec, 2032 112 $589.19 $501.54 $275.00 $1,365.73 $188,038.04
Jan, 2033 113 $587.62 $503.11 $275.00 $1,365.73 $187,534.93
Feb, 2033 114 $586.05 $504.68 $275.00 $1,365.73 $187,030.25
Mar, 2033 115 $584.47 $506.26 $275.00 $1,365.73 $186,523.99
Apr, 2033 116 $582.89 $507.84 $275.00 $1,365.73 $186,016.14
May, 2033 117 $581.30 $509.43 $275.00 $1,365.73 $185,506.71
Jun, 2033 118 $579.71 $511.02 $275.00 $1,365.73 $184,995.69
Jul, 2033 119 $578.11 $512.62 $275.00 $1,365.73 $184,483.07
Aug, 2033 120 $576.51 $514.22 $275.00 $1,365.73 $183,968.85
Sep, 2033 121 $574.90 $515.83 $275.00 $1,365.73 $183,453.03
Oct, 2033 122 $573.29 $517.44 $275.00 $1,365.73 $182,935.59
Nov, 2033 123 $571.67 $519.06 $275.00 $1,365.73 $182,416.53
Dec, 2033 124 $570.05 $520.68 $275.00 $1,365.73 $181,895.85
Jan, 2034 125 $568.42 $522.31 $275.00 $1,365.73 $181,373.55
Feb, 2034 126 $566.79 $523.94 $275.00 $1,365.73 $180,849.61
Mar, 2034 127 $565.16 $525.57 $275.00 $1,365.73 $180,324.04
Apr, 2034 128 $563.51 $527.22 $275.00 $1,365.73 $179,796.82
May, 2034 129 $561.87 $528.86 $275.00 $1,365.73 $179,267.95
Jun, 2034 130 $560.21 $530.52 $275.00 $1,365.73 $178,737.44
Jul, 2034 131 $558.55 $532.18 $275.00 $1,365.73 $178,205.26
Aug, 2034 132 $556.89 $533.84 $275.00 $1,365.73 $177,671.42
Sep, 2034 133 $555.22 $535.51 $275.00 $1,365.73 $177,135.92
Oct, 2034 134 $553.55 $537.18 $275.00 $1,365.73 $176,598.74
Nov, 2034 135 $551.87 $538.86 $275.00 $1,365.73 $176,059.88
Dec, 2034 136 $550.19 $540.54 $275.00 $1,365.73 $175,519.33
Jan, 2035 137 $548.50 $542.23 $275.00 $1,365.73 $174,977.10
Feb, 2035 138 $546.80 $543.93 $275.00 $1,365.73 $174,433.18
Mar, 2035 139 $545.10 $545.63 $275.00 $1,365.73 $173,887.55
Apr, 2035 140 $543.40 $547.33 $275.00 $1,365.73 $173,340.22
May, 2035 141 $541.69 $549.04 $275.00 $1,365.73 $172,791.18
Jun, 2035 142 $539.97 $550.76 $275.00 $1,365.73 $172,240.42
Jul, 2035 143 $538.25 $552.48 $275.00 $1,365.73 $171,687.94
Aug, 2035 144 $536.52 $554.21 $275.00 $1,365.73 $171,133.74
Sep, 2035 145 $534.79 $555.94 $275.00 $1,365.73 $170,577.80
Oct, 2035 146 $533.06 $557.67 $275.00 $1,365.73 $170,020.13
Nov, 2035 147 $531.31 $559.42 $275.00 $1,365.73 $169,460.71
Dec, 2035 148 $529.56 $561.17 $275.00 $1,365.73 $168,899.54
Jan, 2036 149 $527.81 $562.92 $275.00 $1,365.73 $168,336.62
Feb, 2036 150 $526.05 $564.68 $275.00 $1,365.73 $167,771.95
Mar, 2036 151 $524.29 $566.44 $275.00 $1,365.73 $167,205.50
Apr, 2036 152 $522.52 $568.21 $275.00 $1,365.73 $166,637.29
May, 2036 153 $520.74 $569.99 $275.00 $1,365.73 $166,067.30
Jun, 2036 154 $518.96 $571.77 $275.00 $1,365.73 $165,495.53
Jul, 2036 155 $517.17 $573.56 $275.00 $1,365.73 $164,921.98
Aug, 2036 156 $515.38 $575.35 $275.00 $1,365.73 $164,346.63
Sep, 2036 157 $513.58 $577.15 $275.00 $1,365.73 $163,769.48
Oct, 2036 158 $511.78 $578.95 $275.00 $1,365.73 $163,190.53
Nov, 2036 159 $509.97 $580.76 $275.00 $1,365.73 $162,609.77
Dec, 2036 160 $508.16 $582.57 $275.00 $1,365.73 $162,027.20
Jan, 2037 161 $506.33 $584.39 $275.00 $1,365.73 $161,442.80
Feb, 2037 162 $504.51 $586.22 $275.00 $1,365.73 $160,856.58
Mar, 2037 163 $502.68 $588.05 $275.00 $1,365.73 $160,268.53
Apr, 2037 164 $500.84 $589.89 $275.00 $1,365.73 $159,678.64
May, 2037 165 $499.00 $591.73 $275.00 $1,365.73 $159,086.90
Jun, 2037 166 $497.15 $593.58 $275.00 $1,365.73 $158,493.32
Jul, 2037 167 $495.29 $595.44 $275.00 $1,365.73 $157,897.88
Aug, 2037 168 $493.43 $597.30 $275.00 $1,365.73 $157,300.58
Sep, 2037 169 $491.56 $599.17 $275.00 $1,365.73 $156,701.42
Oct, 2037 170 $489.69 $601.04 $275.00 $1,365.73 $156,100.38
Nov, 2037 171 $487.81 $602.92 $275.00 $1,365.73 $155,497.46
Dec, 2037 172 $485.93 $604.80 $275.00 $1,365.73 $154,892.66
Jan, 2038 173 $484.04 $606.69 $275.00 $1,365.73 $154,285.97
Feb, 2038 174 $482.14 $608.59 $275.00 $1,365.73 $153,677.39
Mar, 2038 175 $480.24 $610.49 $275.00 $1,365.73 $153,066.90
Apr, 2038 176 $478.33 $612.40 $275.00 $1,365.73 $152,454.50
May, 2038 177 $476.42 $614.31 $275.00 $1,365.73 $151,840.19
Jun, 2038 178 $474.50 $616.23 $275.00 $1,365.73 $151,223.97
Jul, 2038 179 $472.57 $618.15 $275.00 $1,365.73 $150,605.81
Aug, 2038 180 $470.64 $620.09 $275.00 $1,365.73 $149,985.72
Sep, 2038 181 $468.71 $622.02 $275.00 $1,365.73 $149,363.70
Oct, 2038 182 $466.76 $623.97 $275.00 $1,365.73 $148,739.73
Nov, 2038 183 $464.81 $625.92 $275.00 $1,365.73 $148,113.81
Dec, 2038 184 $462.86 $627.87 $275.00 $1,365.73 $147,485.94
Jan, 2039 185 $460.89 $629.84 $275.00 $1,365.73 $146,856.10
Feb, 2039 186 $458.93 $631.80 $275.00 $1,365.73 $146,224.30
Mar, 2039 187 $456.95 $633.78 $275.00 $1,365.73 $145,590.52
Apr, 2039 188 $454.97 $635.76 $275.00 $1,365.73 $144,954.76
May, 2039 189 $452.98 $637.75 $275.00 $1,365.73 $144,317.01
Jun, 2039 190 $450.99 $639.74 $275.00 $1,365.73 $143,677.27
Jul, 2039 191 $448.99 $641.74 $275.00 $1,365.73 $143,035.54
Aug, 2039 192 $446.99 $643.74 $275.00 $1,365.73 $142,391.79
Sep, 2039 193 $444.97 $645.76 $275.00 $1,365.73 $141,746.04
Oct, 2039 194 $442.96 $647.77 $275.00 $1,365.73 $141,098.26
Nov, 2039 195 $440.93 $649.80 $275.00 $1,365.73 $140,448.46
Dec, 2039 196 $438.90 $651.83 $275.00 $1,365.73 $139,796.64
Jan, 2040 197 $436.86 $653.87 $275.00 $1,365.73 $139,142.77
Feb, 2040 198 $434.82 $655.91 $275.00 $1,365.73 $138,486.86
Mar, 2040 199 $432.77 $657.96 $275.00 $1,365.73 $137,828.90
Apr, 2040 200 $430.72 $660.01 $275.00 $1,365.73 $137,168.89
May, 2040 201 $428.65 $662.08 $275.00 $1,365.73 $136,506.81
Jun, 2040 202 $426.58 $664.15 $275.00 $1,365.73 $135,842.67
Jul, 2040 203 $424.51 $666.22 $275.00 $1,365.73 $135,176.44
Aug, 2040 204 $422.43 $668.30 $275.00 $1,365.73 $134,508.14
Sep, 2040 205 $420.34 $670.39 $275.00 $1,365.73 $133,837.75
Oct, 2040 206 $418.24 $672.49 $275.00 $1,365.73 $133,165.26
Nov, 2040 207 $416.14 $674.59 $275.00 $1,365.73 $132,490.67
Dec, 2040 208 $414.03 $676.70 $275.00 $1,365.73 $131,813.98
Jan, 2041 209 $411.92 $678.81 $275.00 $1,365.73 $131,135.17
Feb, 2041 210 $409.80 $680.93 $275.00 $1,365.73 $130,454.23
Mar, 2041 211 $407.67 $683.06 $275.00 $1,365.73 $129,771.17
Apr, 2041 212 $405.53 $685.19 $275.00 $1,365.73 $129,085.98
May, 2041 213 $403.39 $687.34 $275.00 $1,365.73 $128,398.64
Jun, 2041 214 $401.25 $689.48 $275.00 $1,365.73 $127,709.16
Jul, 2041 215 $399.09 $691.64 $275.00 $1,365.73 $127,017.52
Aug, 2041 216 $396.93 $693.80 $275.00 $1,365.73 $126,323.72
Sep, 2041 217 $394.76 $695.97 $275.00 $1,365.73 $125,627.75
Oct, 2041 218 $392.59 $698.14 $275.00 $1,365.73 $124,929.61
Nov, 2041 219 $390.41 $700.32 $275.00 $1,365.73 $124,229.28
Dec, 2041 220 $388.22 $702.51 $275.00 $1,365.73 $123,526.77
Jan, 2042 221 $386.02 $704.71 $275.00 $1,365.73 $122,822.06
Feb, 2042 222 $383.82 $706.91 $275.00 $1,365.73 $122,115.15
Mar, 2042 223 $381.61 $709.12 $275.00 $1,365.73 $121,406.03
Apr, 2042 224 $379.39 $711.34 $275.00 $1,365.73 $120,694.69
May, 2042 225 $377.17 $713.56 $275.00 $1,365.73 $119,981.14
Jun, 2042 226 $374.94 $715.79 $275.00 $1,365.73 $119,265.35
Jul, 2042 227 $372.70 $718.03 $275.00 $1,365.73 $118,547.32
Aug, 2042 228 $370.46 $720.27 $275.00 $1,365.73 $117,827.05
Sep, 2042 229 $368.21 $722.52 $275.00 $1,365.73 $117,104.53
Oct, 2042 230 $365.95 $724.78 $275.00 $1,365.73 $116,379.75
Nov, 2042 231 $363.69 $727.04 $275.00 $1,365.73 $115,652.71
Dec, 2042 232 $361.41 $729.32 $275.00 $1,365.73 $114,923.40
Jan, 2043 233 $359.14 $731.59 $275.00 $1,365.73 $114,191.80
Feb, 2043 234 $356.85 $733.88 $275.00 $1,365.73 $113,457.92
Mar, 2043 235 $354.56 $736.17 $275.00 $1,365.73 $112,721.75
Apr, 2043 236 $352.26 $738.47 $275.00 $1,365.73 $111,983.27
May, 2043 237 $349.95 $740.78 $275.00 $1,365.73 $111,242.49
Jun, 2043 238 $347.63 $743.10 $275.00 $1,365.73 $110,499.39
Jul, 2043 239 $345.31 $745.42 $275.00 $1,365.73 $109,753.97
Aug, 2043 240 $342.98 $747.75 $275.00 $1,365.73 $109,006.23
Sep, 2043 241 $340.64 $750.09 $275.00 $1,365.73 $108,256.14
Oct, 2043 242 $338.30 $752.43 $275.00 $1,365.73 $107,503.71
Nov, 2043 243 $335.95 $754.78 $275.00 $1,365.73 $106,748.93
Dec, 2043 244 $333.59 $757.14 $275.00 $1,365.73 $105,991.79
Jan, 2044 245 $331.22 $759.51 $275.00 $1,365.73 $105,232.28
Feb, 2044 246 $328.85 $761.88 $275.00 $1,365.73 $104,470.41
Mar, 2044 247 $326.47 $764.26 $275.00 $1,365.73 $103,706.15
Apr, 2044 248 $324.08 $766.65 $275.00 $1,365.73 $102,939.50
May, 2044 249 $321.69 $769.04 $275.00 $1,365.73 $102,170.45
Jun, 2044 250 $319.28 $771.45 $275.00 $1,365.73 $101,399.01
Jul, 2044 251 $316.87 $773.86 $275.00 $1,365.73 $100,625.15
Aug, 2044 252 $314.45 $776.28 $275.00 $1,365.73 $99,848.87
Sep, 2044 253 $312.03 $778.70 $275.00 $1,365.73 $99,070.17
Oct, 2044 254 $309.59 $781.14 $275.00 $1,365.73 $98,289.03
Nov, 2044 255 $307.15 $783.58 $275.00 $1,365.73 $97,505.46
Dec, 2044 256 $304.70 $786.03 $275.00 $1,365.73 $96,719.43
Jan, 2045 257 $302.25 $788.48 $275.00 $1,365.73 $95,930.95
Feb, 2045 258 $299.78 $790.95 $275.00 $1,365.73 $95,140.01
Mar, 2045 259 $297.31 $793.42 $275.00 $1,365.73 $94,346.59
Apr, 2045 260 $294.83 $795.90 $275.00 $1,365.73 $93,550.69
May, 2045 261 $292.35 $798.38 $275.00 $1,365.73 $92,752.31
Jun, 2045 262 $289.85 $800.88 $275.00 $1,365.73 $91,951.43
Jul, 2045 263 $287.35 $803.38 $275.00 $1,365.73 $91,148.05
Aug, 2045 264 $284.84 $805.89 $275.00 $1,365.73 $90,342.16
Sep, 2045 265 $282.32 $808.41 $275.00 $1,365.73 $89,533.74
Oct, 2045 266 $279.79 $810.94 $275.00 $1,365.73 $88,722.81
Nov, 2045 267 $277.26 $813.47 $275.00 $1,365.73 $87,909.34
Dec, 2045 268 $274.72 $816.01 $275.00 $1,365.73 $87,093.32
Jan, 2046 269 $272.17 $818.56 $275.00 $1,365.73 $86,274.76
Feb, 2046 270 $269.61 $821.12 $275.00 $1,365.73 $85,453.64
Mar, 2046 271 $267.04 $823.69 $275.00 $1,365.73 $84,629.95
Apr, 2046 272 $264.47 $826.26 $275.00 $1,365.73 $83,803.69
May, 2046 273 $261.89 $828.84 $275.00 $1,365.73 $82,974.85
Jun, 2046 274 $259.30 $831.43 $275.00 $1,365.73 $82,143.41
Jul, 2046 275 $256.70 $834.03 $275.00 $1,365.73 $81,309.38
Aug, 2046 276 $254.09 $836.64 $275.00 $1,365.73 $80,472.74
Sep, 2046 277 $251.48 $839.25 $275.00 $1,365.73 $79,633.49
Oct, 2046 278 $248.85 $841.88 $275.00 $1,365.73 $78,791.62
Nov, 2046 279 $246.22 $844.51 $275.00 $1,365.73 $77,947.11
Dec, 2046 280 $243.58 $847.15 $275.00 $1,365.73 $77,099.97
Jan, 2047 281 $240.94 $849.79 $275.00 $1,365.73 $76,250.17
Feb, 2047 282 $238.28 $852.45 $275.00 $1,365.73 $75,397.72
Mar, 2047 283 $235.62 $855.11 $275.00 $1,365.73 $74,542.61
Apr, 2047 284 $232.95 $857.78 $275.00 $1,365.73 $73,684.83
May, 2047 285 $230.27 $860.46 $275.00 $1,365.73 $72,824.36
Jun, 2047 286 $227.58 $863.15 $275.00 $1,365.73 $71,961.21
Jul, 2047 287 $224.88 $865.85 $275.00 $1,365.73 $71,095.36
Aug, 2047 288 $222.17 $868.56 $275.00 $1,365.73 $70,226.80
Sep, 2047 289 $219.46 $871.27 $275.00 $1,365.73 $69,355.53
Oct, 2047 290 $216.74 $873.99 $275.00 $1,365.73 $68,481.54
Nov, 2047 291 $214.00 $876.73 $275.00 $1,365.73 $67,604.81
Dec, 2047 292 $211.27 $879.46 $275.00 $1,365.73 $66,725.35
Jan, 2048 293 $208.52 $882.21 $275.00 $1,365.73 $65,843.13
Feb, 2048 294 $205.76 $884.97 $275.00 $1,365.73 $64,958.16
Mar, 2048 295 $202.99 $887.74 $275.00 $1,365.73 $64,070.43
Apr, 2048 296 $200.22 $890.51 $275.00 $1,365.73 $63,179.92
May, 2048 297 $197.44 $893.29 $275.00 $1,365.73 $62,286.63
Jun, 2048 298 $194.65 $896.08 $275.00 $1,365.73 $61,390.54
Jul, 2048 299 $191.85 $898.88 $275.00 $1,365.73 $60,491.66
Aug, 2048 300 $189.04 $901.69 $275.00 $1,365.73 $59,589.96
Sep, 2048 301 $186.22 $904.51 $275.00 $1,365.73 $58,685.45
Oct, 2048 302 $183.39 $907.34 $275.00 $1,365.73 $57,778.12
Nov, 2048 303 $180.56 $910.17 $275.00 $1,365.73 $56,867.94
Dec, 2048 304 $177.71 $913.02 $275.00 $1,365.73 $55,954.92
Jan, 2049 305 $174.86 $915.87 $275.00 $1,365.73 $55,039.05
Feb, 2049 306 $172.00 $918.73 $275.00 $1,365.73 $54,120.32
Mar, 2049 307 $169.13 $921.60 $275.00 $1,365.73 $53,198.72
Apr, 2049 308 $166.25 $924.48 $275.00 $1,365.73 $52,274.23
May, 2049 309 $163.36 $927.37 $275.00 $1,365.73 $51,346.86
Jun, 2049 310 $160.46 $930.27 $275.00 $1,365.73 $50,416.59
Jul, 2049 311 $157.55 $933.18 $275.00 $1,365.73 $49,483.41
Aug, 2049 312 $154.64 $936.09 $275.00 $1,365.73 $48,547.32
Sep, 2049 313 $151.71 $939.02 $275.00 $1,365.73 $47,608.30
Oct, 2049 314 $148.78 $941.95 $275.00 $1,365.73 $46,666.34
Nov, 2049 315 $145.83 $944.90 $275.00 $1,365.73 $45,721.45
Dec, 2049 316 $142.88 $947.85 $275.00 $1,365.73 $44,773.60
Jan, 2050 317 $139.92 $950.81 $275.00 $1,365.73 $43,822.78
Feb, 2050 318 $136.95 $953.78 $275.00 $1,365.73 $42,869.00
Mar, 2050 319 $133.97 $956.76 $275.00 $1,365.73 $41,912.24
Apr, 2050 320 $130.98 $959.75 $275.00 $1,365.73 $40,952.48
May, 2050 321 $127.98 $962.75 $275.00 $1,365.73 $39,989.73
Jun, 2050 322 $124.97 $965.76 $275.00 $1,365.73 $39,023.97
Jul, 2050 323 $121.95 $968.78 $275.00 $1,365.73 $38,055.19
Aug, 2050 324 $118.92 $971.81 $275.00 $1,365.73 $37,083.38
Sep, 2050 325 $115.89 $974.84 $275.00 $1,365.73 $36,108.54
Oct, 2050 326 $112.84 $977.89 $275.00 $1,365.73 $35,130.64
Nov, 2050 327 $109.78 $980.95 $275.00 $1,365.73 $34,149.70
Dec, 2050 328 $106.72 $984.01 $275.00 $1,365.73 $33,165.69
Jan, 2051 329 $103.64 $987.09 $275.00 $1,365.73 $32,178.60
Feb, 2051 330 $100.56 $990.17 $275.00 $1,365.73 $31,188.43
Mar, 2051 331 $97.46 $993.27 $275.00 $1,365.73 $30,195.16
Apr, 2051 332 $94.36 $996.37 $275.00 $1,365.73 $29,198.79
May, 2051 333 $91.25 $999.48 $275.00 $1,365.73 $28,199.31
Jun, 2051 334 $88.12 $1,002.61 $275.00 $1,365.73 $27,196.70
Jul, 2051 335 $84.99 $1,005.74 $275.00 $1,365.73 $26,190.96
Aug, 2051 336 $81.85 $1,008.88 $275.00 $1,365.73 $25,182.08
Sep, 2051 337 $78.69 $1,012.04 $275.00 $1,365.73 $24,170.04
Oct, 2051 338 $75.53 $1,015.20 $275.00 $1,365.73 $23,154.84
Nov, 2051 339 $72.36 $1,018.37 $275.00 $1,365.73 $22,136.47
Dec, 2051 340 $69.18 $1,021.55 $275.00 $1,365.73 $21,114.92
Jan, 2052 341 $65.98 $1,024.75 $275.00 $1,365.73 $20,090.17
Feb, 2052 342 $62.78 $1,027.95 $275.00 $1,365.73 $19,062.22
Mar, 2052 343 $59.57 $1,031.16 $275.00 $1,365.73 $18,031.06
Apr, 2052 344 $56.35 $1,034.38 $275.00 $1,365.73 $16,996.68
May, 2052 345 $53.11 $1,037.62 $275.00 $1,365.73 $15,959.07
Jun, 2052 346 $49.87 $1,040.86 $275.00 $1,365.73 $14,918.21
Jul, 2052 347 $46.62 $1,044.11 $275.00 $1,365.73 $13,874.10
Aug, 2052 348 $43.36 $1,047.37 $275.00 $1,365.73 $12,826.72
Sep, 2052 349 $40.08 $1,050.65 $275.00 $1,365.73 $11,776.08
Oct, 2052 350 $36.80 $1,053.93 $275.00 $1,365.73 $10,722.15
Nov, 2052 351 $33.51 $1,057.22 $275.00 $1,365.73 $9,664.93
Dec, 2052 352 $30.20 $1,060.53 $275.00 $1,365.73 $8,604.40
Jan, 2053 353 $26.89 $1,063.84 $275.00 $1,365.73 $7,540.56
Feb, 2053 354 $23.56 $1,067.17 $275.00 $1,365.73 $6,473.39
Mar, 2053 355 $20.23 $1,070.50 $275.00 $1,365.73 $5,402.89
Apr, 2053 356 $16.88 $1,073.85 $275.00 $1,365.73 $4,329.05
May, 2053 357 $13.53 $1,077.20 $275.00 $1,365.73 $3,251.84
Jun, 2053 358 $10.16 $1,080.57 $275.00 $1,365.73 $2,171.28
Jul, 2053 359 $6.79 $1,083.94 $275.00 $1,365.73 $1,087.33
Aug, 2053 360 $3.40 $1,087.33 $275.00 $1,365.73 $0.00

Compare Monthly vs. Bi-weekly

Payment Frequency Monthly Bi-weekly
Payments / Year 12 26
Each Payment $1,365.73 $672.29
Total Extra Payments $0.00 $0.00
Total Interest $157,142.74 $133,476.72
Total Tax, Insurance & Fees $99,000.00 $85,673.08
Total Payment $491,662.74 $454,669.80
Total Savings $0 $36,992.95
Payoff Date Aug, 2053 Aug, 2049


What is a VA Loan?

A VA home loan is a mortgage guaranteed by the U.S. Department of Veterans Affairs (VA). A VA home loan is available to qualified buyers with a military background.


How does a VA loan work?

VA loans have lower requirements for credit score, down payment, and debt-to-income ratio because they are backed by a government agency. If a borrower defaults on his loan, the lender can recoup part of the losses from the government agency. Once approved, the borrower will repay the lender with installment payments like any other loan. A VA loan can have a fixed interest or adjust-interest rate.


How to qualify for a VA loan?

To qualify for a VA loan, you need to provide military service history to show you are eligible. Borrowers need to serve enough time to qualify for VA loans and there are minimum service requirements. For service members - you need to serve for at least 90 continuous days all at once, and meet the minimum active-duty service requirement. For veterans, national guard, and reserve members - you need to meet the minimum active-duty requirements. For surviving spouse - if you are the spouse of a veteran who's missing in action, died, being held in a prison of war.


Pros and Cons of VA Loans

As with any other type of loan, there are benefits and drawbacks to a VA loan. Following are the pros and cons of VA loans.


Pros of a VA Loan

1. No Minimum Credit Score

For a traditional mortgage, you need a minimum credit score of 620. There is no minimum requirement for credit scores for VA loans, but lenders can set their own requirements. Ideally, borrowers should have a credit score of 580 or higher, but some lenders may still approve VA loans for borrowers that have credit scores as low as 500.


2. Debt-to-Income Ratio

Debt-to-income or DTI is a ratio to measure how much debt you have relative to your income, and lenders want to know if you can handle the additional debt with a VA loan. VA loans have no maximum requirement for DTI However, lenders can set their own standards. Homebuyers should have a DTI lower than 41%.


3. $0 Down Payment

There is no down payment requirement for VA loans. Borrowers can put 0% down, whereas most traditional mortgages require a down payment of 3% or more.


4. No Private Mortgage Insurance

For a conventional mortgage, borrowers are required to pay private mortgage insurance or PMI if their down payment is less than 20%. The PMI will be removed when the homeowners have at least 20% equity in their homes. For VA loans, borrowers don't have to pay for PMI which is a huge plus for borrowers who don't have money for a down payment.


5. Lenient Income Proof

You will need to provide two years of income to show your lender that you can repay the VA loan. The income requirement varies from lender to lender. Some VA lenders will still approve your loan if you can't provide two years of income.


6. No Income Limit

There is no income limit for VA loans. Even if you have a high income, you can still qualify for VA loans and enjoy all the benefits they provide.


7. Lower Lender Fees

The lender fees are capped at 1% to cover the costs of loan origination, processing, and underwriting. The closing costs for traditional mortgages are more expensive.




Cons of a VA Loan

1. Military Service

Borrowers must have served in the military or is a surviving spouse of a veteran to qualify for VA loans.


2. VA Funding Fees

The major downside of a VA loan is it has a VA funding fee that ranges from 0.5% to 3.6% of the loan amount. Disabled veterans are exempt from the VA funding fee.


3. Primary Residence Only

The VA loan can only be used for a primary residence. Borrowers cannot use a VA loan to buy a second home or investment property.


How to apply for a VA loan?

Once you check and confirm your eligibility for VA loans, you can follow the steps below to get a VA loan.


1. Check Your Credit Score

Although there is no credit score requirement, you should still check your credit score, because credit score determines the interest rate you will be getting. The higher your credit score, the lower your interest rate, and the fewer interest payments you will make throughout the loan term.


2. Compare Lenders

Not all lenders offer VA loans, so you need to shop around to find the ones that offer VA loans with lower interest rates and overall costs.


3. Gather Documents

Your lender will ask for a bunch of documents that you need to get approved for the VA loan. Some of the documents include two years of tax returns and w-2 statements, bank statements, a certificate of eligibility (COE), and recent pay stubs.


4. Home Appraisal

Your lender will order a home appraisal for your home from a VA-approved inspector. You will need to pay the home appraisal as part of the closing costs.


5. Closing

After you are approved for a VA loan, a closing date is set that meets the schedule of the attorneys, bank, you, and the sellers. Bring checks to the closing to cover the closing costs and other fees that may arise.


VA Loan FAQs


Is it hard to get a VA loan?

For qualified buyers, VA loans are easier to get than conventional loans because it has lenient requirements. There is no requirement for a down payment, credit score, or DTI which makes the approval process shorter.



What is the down payment for VA loans?

There is no requirement for a down payment, you can have a $0 down VA loan.


What is the minimum credit score for VA loans?

The VA agency does not set a minimum credit score requirement, but most lenders look for a credit score of 580 or higher. Some lenders may even approve homebuyers who have a credit score of 500.


What is the maximum DTI for VA loans?

The U.S. Department of Veterans Affairs does not set a maximum DTI requirement, but most lenders prefer borrowers to have a DTI of 41% or lower.


What is the VA funding fee?

The VA funding fee is a one-time fee that borrowers pay for their VA loans which range from 0.5% to 3.6% of the loan amount. Disabled borrowers are exempt from paying the VA funding fee.


Can I roll the VA funding fee into my mortgage?

Yes, you can roll the VA funding fee to your mortgage to reduce the closing costs. However, rolling the VA funding fee to your mortgage will increase the size of your mortgage and hence your monthly payments.


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