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: Mar, 2023
Payoff Date: Feb, 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
Mar, 2023 1 $736.00 $354.73 $275.00 $1,365.73 $235,165.27
Apr, 2023 2 $734.89 $355.84 $275.00 $1,365.73 $234,809.43
May, 2023 3 $733.78 $356.95 $275.00 $1,365.73 $234,452.48
Jun, 2023 4 $732.66 $358.07 $275.00 $1,365.73 $234,094.42
Jul, 2023 5 $731.55 $359.18 $275.00 $1,365.73 $233,735.23
Aug, 2023 6 $730.42 $360.31 $275.00 $1,365.73 $233,374.92
Sep, 2023 7 $729.30 $361.43 $275.00 $1,365.73 $233,013.49
Oct, 2023 8 $728.17 $362.56 $275.00 $1,365.73 $232,650.93
Nov, 2023 9 $727.03 $363.70 $275.00 $1,365.73 $232,287.23
Dec, 2023 10 $725.90 $364.83 $275.00 $1,365.73 $231,922.40
Jan, 2024 11 $724.76 $365.97 $275.00 $1,365.73 $231,556.43
Feb, 2024 12 $723.61 $367.12 $275.00 $1,365.73 $231,189.31
Mar, 2024 13 $722.47 $368.26 $275.00 $1,365.73 $230,821.05
Apr, 2024 14 $721.32 $369.41 $275.00 $1,365.73 $230,451.63
May, 2024 15 $720.16 $370.57 $275.00 $1,365.73 $230,081.07
Jun, 2024 16 $719.00 $371.73 $275.00 $1,365.73 $229,709.34
Jul, 2024 17 $717.84 $372.89 $275.00 $1,365.73 $229,336.45
Aug, 2024 18 $716.68 $374.05 $275.00 $1,365.73 $228,962.40
Sep, 2024 19 $715.51 $375.22 $275.00 $1,365.73 $228,587.18
Oct, 2024 20 $714.33 $376.39 $275.00 $1,365.73 $228,210.78
Nov, 2024 21 $713.16 $377.57 $275.00 $1,365.73 $227,833.21
Dec, 2024 22 $711.98 $378.75 $275.00 $1,365.73 $227,454.46
Jan, 2025 23 $710.80 $379.93 $275.00 $1,365.73 $227,074.52
Feb, 2025 24 $709.61 $381.12 $275.00 $1,365.73 $226,693.40
Mar, 2025 25 $708.42 $382.31 $275.00 $1,365.73 $226,311.09
Apr, 2025 26 $707.22 $383.51 $275.00 $1,365.73 $225,927.58
May, 2025 27 $706.02 $384.71 $275.00 $1,365.73 $225,542.87
Jun, 2025 28 $704.82 $385.91 $275.00 $1,365.73 $225,156.97
Jul, 2025 29 $703.62 $387.11 $275.00 $1,365.73 $224,769.85
Aug, 2025 30 $702.41 $388.32 $275.00 $1,365.73 $224,381.53
Sep, 2025 31 $701.19 $389.54 $275.00 $1,365.73 $223,991.99
Oct, 2025 32 $699.97 $390.75 $275.00 $1,365.73 $223,601.24
Nov, 2025 33 $698.75 $391.98 $275.00 $1,365.73 $223,209.26
Dec, 2025 34 $697.53 $393.20 $275.00 $1,365.73 $222,816.06
Jan, 2026 35 $696.30 $394.43 $275.00 $1,365.73 $222,421.63
Feb, 2026 36 $695.07 $395.66 $275.00 $1,365.73 $222,025.97
Mar, 2026 37 $693.83 $396.90 $275.00 $1,365.73 $221,629.07
Apr, 2026 38 $692.59 $398.14 $275.00 $1,365.73 $221,230.93
May, 2026 39 $691.35 $399.38 $275.00 $1,365.73 $220,831.55
Jun, 2026 40 $690.10 $400.63 $275.00 $1,365.73 $220,430.91
Jul, 2026 41 $688.85 $401.88 $275.00 $1,365.73 $220,029.03
Aug, 2026 42 $687.59 $403.14 $275.00 $1,365.73 $219,625.89
Sep, 2026 43 $686.33 $404.40 $275.00 $1,365.73 $219,221.49
Oct, 2026 44 $685.07 $405.66 $275.00 $1,365.73 $218,815.83
Nov, 2026 45 $683.80 $406.93 $275.00 $1,365.73 $218,408.90
Dec, 2026 46 $682.53 $408.20 $275.00 $1,365.73 $218,000.70
Jan, 2027 47 $681.25 $409.48 $275.00 $1,365.73 $217,591.22
Feb, 2027 48 $679.97 $410.76 $275.00 $1,365.73 $217,180.46
Mar, 2027 49 $678.69 $412.04 $275.00 $1,365.73 $216,768.42
Apr, 2027 50 $677.40 $413.33 $275.00 $1,365.73 $216,355.09
May, 2027 51 $676.11 $414.62 $275.00 $1,365.73 $215,940.47
Jun, 2027 52 $674.81 $415.92 $275.00 $1,365.73 $215,524.56
Jul, 2027 53 $673.51 $417.22 $275.00 $1,365.73 $215,107.34
Aug, 2027 54 $672.21 $418.52 $275.00 $1,365.73 $214,688.82
Sep, 2027 55 $670.90 $419.83 $275.00 $1,365.73 $214,269.00
Oct, 2027 56 $669.59 $421.14 $275.00 $1,365.73 $213,847.86
Nov, 2027 57 $668.27 $422.46 $275.00 $1,365.73 $213,425.40
Dec, 2027 58 $666.95 $423.78 $275.00 $1,365.73 $213,001.63
Jan, 2028 59 $665.63 $425.10 $275.00 $1,365.73 $212,576.53
Feb, 2028 60 $664.30 $426.43 $275.00 $1,365.73 $212,150.10
Mar, 2028 61 $662.97 $427.76 $275.00 $1,365.73 $211,722.34
Apr, 2028 62 $661.63 $429.10 $275.00 $1,365.73 $211,293.24
May, 2028 63 $660.29 $430.44 $275.00 $1,365.73 $210,862.80
Jun, 2028 64 $658.95 $431.78 $275.00 $1,365.73 $210,431.02
Jul, 2028 65 $657.60 $433.13 $275.00 $1,365.73 $209,997.88
Aug, 2028 66 $656.24 $434.49 $275.00 $1,365.73 $209,563.40
Sep, 2028 67 $654.89 $435.84 $275.00 $1,365.73 $209,127.55
Oct, 2028 68 $653.52 $437.21 $275.00 $1,365.73 $208,690.35
Nov, 2028 69 $652.16 $438.57 $275.00 $1,365.73 $208,251.77
Dec, 2028 70 $650.79 $439.94 $275.00 $1,365.73 $207,811.83
Jan, 2029 71 $649.41 $441.32 $275.00 $1,365.73 $207,370.51
Feb, 2029 72 $648.03 $442.70 $275.00 $1,365.73 $206,927.82
Mar, 2029 73 $646.65 $444.08 $275.00 $1,365.73 $206,483.74
Apr, 2029 74 $645.26 $445.47 $275.00 $1,365.73 $206,038.27
May, 2029 75 $643.87 $446.86 $275.00 $1,365.73 $205,591.41
Jun, 2029 76 $642.47 $448.26 $275.00 $1,365.73 $205,143.15
Jul, 2029 77 $641.07 $449.66 $275.00 $1,365.73 $204,693.49
Aug, 2029 78 $639.67 $451.06 $275.00 $1,365.73 $204,242.43
Sep, 2029 79 $638.26 $452.47 $275.00 $1,365.73 $203,789.96
Oct, 2029 80 $636.84 $453.89 $275.00 $1,365.73 $203,336.07
Nov, 2029 81 $635.43 $455.30 $275.00 $1,365.73 $202,880.77
Dec, 2029 82 $634.00 $456.73 $275.00 $1,365.73 $202,424.04
Jan, 2030 83 $632.58 $458.15 $275.00 $1,365.73 $201,965.89
Feb, 2030 84 $631.14 $459.59 $275.00 $1,365.73 $201,506.30
Mar, 2030 85 $629.71 $461.02 $275.00 $1,365.73 $201,045.28
Apr, 2030 86 $628.27 $462.46 $275.00 $1,365.73 $200,582.81
May, 2030 87 $626.82 $463.91 $275.00 $1,365.73 $200,118.90
Jun, 2030 88 $625.37 $465.36 $275.00 $1,365.73 $199,653.55
Jul, 2030 89 $623.92 $466.81 $275.00 $1,365.73 $199,186.73
Aug, 2030 90 $622.46 $468.27 $275.00 $1,365.73 $198,718.46
Sep, 2030 91 $621.00 $469.73 $275.00 $1,365.73 $198,248.73
Oct, 2030 92 $619.53 $471.20 $275.00 $1,365.73 $197,777.53
Nov, 2030 93 $618.05 $472.68 $275.00 $1,365.73 $197,304.85
Dec, 2030 94 $616.58 $474.15 $275.00 $1,365.73 $196,830.70
Jan, 2031 95 $615.10 $475.63 $275.00 $1,365.73 $196,355.06
Feb, 2031 96 $613.61 $477.12 $275.00 $1,365.73 $195,877.94
Mar, 2031 97 $612.12 $478.61 $275.00 $1,365.73 $195,399.33
Apr, 2031 98 $610.62 $480.11 $275.00 $1,365.73 $194,919.23
May, 2031 99 $609.12 $481.61 $275.00 $1,365.73 $194,437.62
Jun, 2031 100 $607.62 $483.11 $275.00 $1,365.73 $193,954.51
Jul, 2031 101 $606.11 $484.62 $275.00 $1,365.73 $193,469.88
Aug, 2031 102 $604.59 $486.14 $275.00 $1,365.73 $192,983.75
Sep, 2031 103 $603.07 $487.66 $275.00 $1,365.73 $192,496.09
Oct, 2031 104 $601.55 $489.18 $275.00 $1,365.73 $192,006.91
Nov, 2031 105 $600.02 $490.71 $275.00 $1,365.73 $191,516.20
Dec, 2031 106 $598.49 $492.24 $275.00 $1,365.73 $191,023.96
Jan, 2032 107 $596.95 $493.78 $275.00 $1,365.73 $190,530.18
Feb, 2032 108 $595.41 $495.32 $275.00 $1,365.73 $190,034.86
Mar, 2032 109 $593.86 $496.87 $275.00 $1,365.73 $189,537.99
Apr, 2032 110 $592.31 $498.42 $275.00 $1,365.73 $189,039.57
May, 2032 111 $590.75 $499.98 $275.00 $1,365.73 $188,539.58
Jun, 2032 112 $589.19 $501.54 $275.00 $1,365.73 $188,038.04
Jul, 2032 113 $587.62 $503.11 $275.00 $1,365.73 $187,534.93
Aug, 2032 114 $586.05 $504.68 $275.00 $1,365.73 $187,030.25
Sep, 2032 115 $584.47 $506.26 $275.00 $1,365.73 $186,523.99
Oct, 2032 116 $582.89 $507.84 $275.00 $1,365.73 $186,016.14
Nov, 2032 117 $581.30 $509.43 $275.00 $1,365.73 $185,506.71
Dec, 2032 118 $579.71 $511.02 $275.00 $1,365.73 $184,995.69
Jan, 2033 119 $578.11 $512.62 $275.00 $1,365.73 $184,483.07
Feb, 2033 120 $576.51 $514.22 $275.00 $1,365.73 $183,968.85
Mar, 2033 121 $574.90 $515.83 $275.00 $1,365.73 $183,453.03
Apr, 2033 122 $573.29 $517.44 $275.00 $1,365.73 $182,935.59
May, 2033 123 $571.67 $519.06 $275.00 $1,365.73 $182,416.53
Jun, 2033 124 $570.05 $520.68 $275.00 $1,365.73 $181,895.85
Jul, 2033 125 $568.42 $522.31 $275.00 $1,365.73 $181,373.55
Aug, 2033 126 $566.79 $523.94 $275.00 $1,365.73 $180,849.61
Sep, 2033 127 $565.16 $525.57 $275.00 $1,365.73 $180,324.04
Oct, 2033 128 $563.51 $527.22 $275.00 $1,365.73 $179,796.82
Nov, 2033 129 $561.87 $528.86 $275.00 $1,365.73 $179,267.95
Dec, 2033 130 $560.21 $530.52 $275.00 $1,365.73 $178,737.44
Jan, 2034 131 $558.55 $532.18 $275.00 $1,365.73 $178,205.26
Feb, 2034 132 $556.89 $533.84 $275.00 $1,365.73 $177,671.42
Mar, 2034 133 $555.22 $535.51 $275.00 $1,365.73 $177,135.92
Apr, 2034 134 $553.55 $537.18 $275.00 $1,365.73 $176,598.74
May, 2034 135 $551.87 $538.86 $275.00 $1,365.73 $176,059.88
Jun, 2034 136 $550.19 $540.54 $275.00 $1,365.73 $175,519.33
Jul, 2034 137 $548.50 $542.23 $275.00 $1,365.73 $174,977.10
Aug, 2034 138 $546.80 $543.93 $275.00 $1,365.73 $174,433.18
Sep, 2034 139 $545.10 $545.63 $275.00 $1,365.73 $173,887.55
Oct, 2034 140 $543.40 $547.33 $275.00 $1,365.73 $173,340.22
Nov, 2034 141 $541.69 $549.04 $275.00 $1,365.73 $172,791.18
Dec, 2034 142 $539.97 $550.76 $275.00 $1,365.73 $172,240.42
Jan, 2035 143 $538.25 $552.48 $275.00 $1,365.73 $171,687.94
Feb, 2035 144 $536.52 $554.21 $275.00 $1,365.73 $171,133.74
Mar, 2035 145 $534.79 $555.94 $275.00 $1,365.73 $170,577.80
Apr, 2035 146 $533.06 $557.67 $275.00 $1,365.73 $170,020.13
May, 2035 147 $531.31 $559.42 $275.00 $1,365.73 $169,460.71
Jun, 2035 148 $529.56 $561.17 $275.00 $1,365.73 $168,899.54
Jul, 2035 149 $527.81 $562.92 $275.00 $1,365.73 $168,336.62
Aug, 2035 150 $526.05 $564.68 $275.00 $1,365.73 $167,771.95
Sep, 2035 151 $524.29 $566.44 $275.00 $1,365.73 $167,205.50
Oct, 2035 152 $522.52 $568.21 $275.00 $1,365.73 $166,637.29
Nov, 2035 153 $520.74 $569.99 $275.00 $1,365.73 $166,067.30
Dec, 2035 154 $518.96 $571.77 $275.00 $1,365.73 $165,495.53
Jan, 2036 155 $517.17 $573.56 $275.00 $1,365.73 $164,921.98
Feb, 2036 156 $515.38 $575.35 $275.00 $1,365.73 $164,346.63
Mar, 2036 157 $513.58 $577.15 $275.00 $1,365.73 $163,769.48
Apr, 2036 158 $511.78 $578.95 $275.00 $1,365.73 $163,190.53
May, 2036 159 $509.97 $580.76 $275.00 $1,365.73 $162,609.77
Jun, 2036 160 $508.16 $582.57 $275.00 $1,365.73 $162,027.20
Jul, 2036 161 $506.33 $584.39 $275.00 $1,365.73 $161,442.80
Aug, 2036 162 $504.51 $586.22 $275.00 $1,365.73 $160,856.58
Sep, 2036 163 $502.68 $588.05 $275.00 $1,365.73 $160,268.53
Oct, 2036 164 $500.84 $589.89 $275.00 $1,365.73 $159,678.64
Nov, 2036 165 $499.00 $591.73 $275.00 $1,365.73 $159,086.90
Dec, 2036 166 $497.15 $593.58 $275.00 $1,365.73 $158,493.32
Jan, 2037 167 $495.29 $595.44 $275.00 $1,365.73 $157,897.88
Feb, 2037 168 $493.43 $597.30 $275.00 $1,365.73 $157,300.58
Mar, 2037 169 $491.56 $599.17 $275.00 $1,365.73 $156,701.42
Apr, 2037 170 $489.69 $601.04 $275.00 $1,365.73 $156,100.38
May, 2037 171 $487.81 $602.92 $275.00 $1,365.73 $155,497.46
Jun, 2037 172 $485.93 $604.80 $275.00 $1,365.73 $154,892.66
Jul, 2037 173 $484.04 $606.69 $275.00 $1,365.73 $154,285.97
Aug, 2037 174 $482.14 $608.59 $275.00 $1,365.73 $153,677.39
Sep, 2037 175 $480.24 $610.49 $275.00 $1,365.73 $153,066.90
Oct, 2037 176 $478.33 $612.40 $275.00 $1,365.73 $152,454.50
Nov, 2037 177 $476.42 $614.31 $275.00 $1,365.73 $151,840.19
Dec, 2037 178 $474.50 $616.23 $275.00 $1,365.73 $151,223.97
Jan, 2038 179 $472.57 $618.15 $275.00 $1,365.73 $150,605.81
Feb, 2038 180 $470.64 $620.09 $275.00 $1,365.73 $149,985.72
Mar, 2038 181 $468.71 $622.02 $275.00 $1,365.73 $149,363.70
Apr, 2038 182 $466.76 $623.97 $275.00 $1,365.73 $148,739.73
May, 2038 183 $464.81 $625.92 $275.00 $1,365.73 $148,113.81
Jun, 2038 184 $462.86 $627.87 $275.00 $1,365.73 $147,485.94
Jul, 2038 185 $460.89 $629.84 $275.00 $1,365.73 $146,856.10
Aug, 2038 186 $458.93 $631.80 $275.00 $1,365.73 $146,224.30
Sep, 2038 187 $456.95 $633.78 $275.00 $1,365.73 $145,590.52
Oct, 2038 188 $454.97 $635.76 $275.00 $1,365.73 $144,954.76
Nov, 2038 189 $452.98 $637.75 $275.00 $1,365.73 $144,317.01
Dec, 2038 190 $450.99 $639.74 $275.00 $1,365.73 $143,677.27
Jan, 2039 191 $448.99 $641.74 $275.00 $1,365.73 $143,035.54
Feb, 2039 192 $446.99 $643.74 $275.00 $1,365.73 $142,391.79
Mar, 2039 193 $444.97 $645.76 $275.00 $1,365.73 $141,746.04
Apr, 2039 194 $442.96 $647.77 $275.00 $1,365.73 $141,098.26
May, 2039 195 $440.93 $649.80 $275.00 $1,365.73 $140,448.46
Jun, 2039 196 $438.90 $651.83 $275.00 $1,365.73 $139,796.64
Jul, 2039 197 $436.86 $653.87 $275.00 $1,365.73 $139,142.77
Aug, 2039 198 $434.82 $655.91 $275.00 $1,365.73 $138,486.86
Sep, 2039 199 $432.77 $657.96 $275.00 $1,365.73 $137,828.90
Oct, 2039 200 $430.72 $660.01 $275.00 $1,365.73 $137,168.89
Nov, 2039 201 $428.65 $662.08 $275.00 $1,365.73 $136,506.81
Dec, 2039 202 $426.58 $664.15 $275.00 $1,365.73 $135,842.67
Jan, 2040 203 $424.51 $666.22 $275.00 $1,365.73 $135,176.44
Feb, 2040 204 $422.43 $668.30 $275.00 $1,365.73 $134,508.14
Mar, 2040 205 $420.34 $670.39 $275.00 $1,365.73 $133,837.75
Apr, 2040 206 $418.24 $672.49 $275.00 $1,365.73 $133,165.26
May, 2040 207 $416.14 $674.59 $275.00 $1,365.73 $132,490.67
Jun, 2040 208 $414.03 $676.70 $275.00 $1,365.73 $131,813.98
Jul, 2040 209 $411.92 $678.81 $275.00 $1,365.73 $131,135.17
Aug, 2040 210 $409.80 $680.93 $275.00 $1,365.73 $130,454.23
Sep, 2040 211 $407.67 $683.06 $275.00 $1,365.73 $129,771.17
Oct, 2040 212 $405.53 $685.19 $275.00 $1,365.73 $129,085.98
Nov, 2040 213 $403.39 $687.34 $275.00 $1,365.73 $128,398.64
Dec, 2040 214 $401.25 $689.48 $275.00 $1,365.73 $127,709.16
Jan, 2041 215 $399.09 $691.64 $275.00 $1,365.73 $127,017.52
Feb, 2041 216 $396.93 $693.80 $275.00 $1,365.73 $126,323.72
Mar, 2041 217 $394.76 $695.97 $275.00 $1,365.73 $125,627.75
Apr, 2041 218 $392.59 $698.14 $275.00 $1,365.73 $124,929.61
May, 2041 219 $390.41 $700.32 $275.00 $1,365.73 $124,229.28
Jun, 2041 220 $388.22 $702.51 $275.00 $1,365.73 $123,526.77
Jul, 2041 221 $386.02 $704.71 $275.00 $1,365.73 $122,822.06
Aug, 2041 222 $383.82 $706.91 $275.00 $1,365.73 $122,115.15
Sep, 2041 223 $381.61 $709.12 $275.00 $1,365.73 $121,406.03
Oct, 2041 224 $379.39 $711.34 $275.00 $1,365.73 $120,694.69
Nov, 2041 225 $377.17 $713.56 $275.00 $1,365.73 $119,981.14
Dec, 2041 226 $374.94 $715.79 $275.00 $1,365.73 $119,265.35
Jan, 2042 227 $372.70 $718.03 $275.00 $1,365.73 $118,547.32
Feb, 2042 228 $370.46 $720.27 $275.00 $1,365.73 $117,827.05
Mar, 2042 229 $368.21 $722.52 $275.00 $1,365.73 $117,104.53
Apr, 2042 230 $365.95 $724.78 $275.00 $1,365.73 $116,379.75
May, 2042 231 $363.69 $727.04 $275.00 $1,365.73 $115,652.71
Jun, 2042 232 $361.41 $729.32 $275.00 $1,365.73 $114,923.40
Jul, 2042 233 $359.14 $731.59 $275.00 $1,365.73 $114,191.80
Aug, 2042 234 $356.85 $733.88 $275.00 $1,365.73 $113,457.92
Sep, 2042 235 $354.56 $736.17 $275.00 $1,365.73 $112,721.75
Oct, 2042 236 $352.26 $738.47 $275.00 $1,365.73 $111,983.27
Nov, 2042 237 $349.95 $740.78 $275.00 $1,365.73 $111,242.49
Dec, 2042 238 $347.63 $743.10 $275.00 $1,365.73 $110,499.39
Jan, 2043 239 $345.31 $745.42 $275.00 $1,365.73 $109,753.97
Feb, 2043 240 $342.98 $747.75 $275.00 $1,365.73 $109,006.23
Mar, 2043 241 $340.64 $750.09 $275.00 $1,365.73 $108,256.14
Apr, 2043 242 $338.30 $752.43 $275.00 $1,365.73 $107,503.71
May, 2043 243 $335.95 $754.78 $275.00 $1,365.73 $106,748.93
Jun, 2043 244 $333.59 $757.14 $275.00 $1,365.73 $105,991.79
Jul, 2043 245 $331.22 $759.51 $275.00 $1,365.73 $105,232.28
Aug, 2043 246 $328.85 $761.88 $275.00 $1,365.73 $104,470.41
Sep, 2043 247 $326.47 $764.26 $275.00 $1,365.73 $103,706.15
Oct, 2043 248 $324.08 $766.65 $275.00 $1,365.73 $102,939.50
Nov, 2043 249 $321.69 $769.04 $275.00 $1,365.73 $102,170.45
Dec, 2043 250 $319.28 $771.45 $275.00 $1,365.73 $101,399.01
Jan, 2044 251 $316.87 $773.86 $275.00 $1,365.73 $100,625.15
Feb, 2044 252 $314.45 $776.28 $275.00 $1,365.73 $99,848.87
Mar, 2044 253 $312.03 $778.70 $275.00 $1,365.73 $99,070.17
Apr, 2044 254 $309.59 $781.14 $275.00 $1,365.73 $98,289.03
May, 2044 255 $307.15 $783.58 $275.00 $1,365.73 $97,505.46
Jun, 2044 256 $304.70 $786.03 $275.00 $1,365.73 $96,719.43
Jul, 2044 257 $302.25 $788.48 $275.00 $1,365.73 $95,930.95
Aug, 2044 258 $299.78 $790.95 $275.00 $1,365.73 $95,140.01
Sep, 2044 259 $297.31 $793.42 $275.00 $1,365.73 $94,346.59
Oct, 2044 260 $294.83 $795.90 $275.00 $1,365.73 $93,550.69
Nov, 2044 261 $292.35 $798.38 $275.00 $1,365.73 $92,752.31
Dec, 2044 262 $289.85 $800.88 $275.00 $1,365.73 $91,951.43
Jan, 2045 263 $287.35 $803.38 $275.00 $1,365.73 $91,148.05
Feb, 2045 264 $284.84 $805.89 $275.00 $1,365.73 $90,342.16
Mar, 2045 265 $282.32 $808.41 $275.00 $1,365.73 $89,533.74
Apr, 2045 266 $279.79 $810.94 $275.00 $1,365.73 $88,722.81
May, 2045 267 $277.26 $813.47 $275.00 $1,365.73 $87,909.34
Jun, 2045 268 $274.72 $816.01 $275.00 $1,365.73 $87,093.32
Jul, 2045 269 $272.17 $818.56 $275.00 $1,365.73 $86,274.76
Aug, 2045 270 $269.61 $821.12 $275.00 $1,365.73 $85,453.64
Sep, 2045 271 $267.04 $823.69 $275.00 $1,365.73 $84,629.95
Oct, 2045 272 $264.47 $826.26 $275.00 $1,365.73 $83,803.69
Nov, 2045 273 $261.89 $828.84 $275.00 $1,365.73 $82,974.85
Dec, 2045 274 $259.30 $831.43 $275.00 $1,365.73 $82,143.41
Jan, 2046 275 $256.70 $834.03 $275.00 $1,365.73 $81,309.38
Feb, 2046 276 $254.09 $836.64 $275.00 $1,365.73 $80,472.74
Mar, 2046 277 $251.48 $839.25 $275.00 $1,365.73 $79,633.49
Apr, 2046 278 $248.85 $841.88 $275.00 $1,365.73 $78,791.62
May, 2046 279 $246.22 $844.51 $275.00 $1,365.73 $77,947.11
Jun, 2046 280 $243.58 $847.15 $275.00 $1,365.73 $77,099.97
Jul, 2046 281 $240.94 $849.79 $275.00 $1,365.73 $76,250.17
Aug, 2046 282 $238.28 $852.45 $275.00 $1,365.73 $75,397.72
Sep, 2046 283 $235.62 $855.11 $275.00 $1,365.73 $74,542.61
Oct, 2046 284 $232.95 $857.78 $275.00 $1,365.73 $73,684.83
Nov, 2046 285 $230.27 $860.46 $275.00 $1,365.73 $72,824.36
Dec, 2046 286 $227.58 $863.15 $275.00 $1,365.73 $71,961.21
Jan, 2047 287 $224.88 $865.85 $275.00 $1,365.73 $71,095.36
Feb, 2047 288 $222.17 $868.56 $275.00 $1,365.73 $70,226.80
Mar, 2047 289 $219.46 $871.27 $275.00 $1,365.73 $69,355.53
Apr, 2047 290 $216.74 $873.99 $275.00 $1,365.73 $68,481.54
May, 2047 291 $214.00 $876.73 $275.00 $1,365.73 $67,604.81
Jun, 2047 292 $211.27 $879.46 $275.00 $1,365.73 $66,725.35
Jul, 2047 293 $208.52 $882.21 $275.00 $1,365.73 $65,843.13
Aug, 2047 294 $205.76 $884.97 $275.00 $1,365.73 $64,958.16
Sep, 2047 295 $202.99 $887.74 $275.00 $1,365.73 $64,070.43
Oct, 2047 296 $200.22 $890.51 $275.00 $1,365.73 $63,179.92
Nov, 2047 297 $197.44 $893.29 $275.00 $1,365.73 $62,286.63
Dec, 2047 298 $194.65 $896.08 $275.00 $1,365.73 $61,390.54
Jan, 2048 299 $191.85 $898.88 $275.00 $1,365.73 $60,491.66
Feb, 2048 300 $189.04 $901.69 $275.00 $1,365.73 $59,589.96
Mar, 2048 301 $186.22 $904.51 $275.00 $1,365.73 $58,685.45
Apr, 2048 302 $183.39 $907.34 $275.00 $1,365.73 $57,778.12
May, 2048 303 $180.56 $910.17 $275.00 $1,365.73 $56,867.94
Jun, 2048 304 $177.71 $913.02 $275.00 $1,365.73 $55,954.92
Jul, 2048 305 $174.86 $915.87 $275.00 $1,365.73 $55,039.05
Aug, 2048 306 $172.00 $918.73 $275.00 $1,365.73 $54,120.32
Sep, 2048 307 $169.13 $921.60 $275.00 $1,365.73 $53,198.72
Oct, 2048 308 $166.25 $924.48 $275.00 $1,365.73 $52,274.23
Nov, 2048 309 $163.36 $927.37 $275.00 $1,365.73 $51,346.86
Dec, 2048 310 $160.46 $930.27 $275.00 $1,365.73 $50,416.59
Jan, 2049 311 $157.55 $933.18 $275.00 $1,365.73 $49,483.41
Feb, 2049 312 $154.64 $936.09 $275.00 $1,365.73 $48,547.32
Mar, 2049 313 $151.71 $939.02 $275.00 $1,365.73 $47,608.30
Apr, 2049 314 $148.78 $941.95 $275.00 $1,365.73 $46,666.34
May, 2049 315 $145.83 $944.90 $275.00 $1,365.73 $45,721.45
Jun, 2049 316 $142.88 $947.85 $275.00 $1,365.73 $44,773.60
Jul, 2049 317 $139.92 $950.81 $275.00 $1,365.73 $43,822.78
Aug, 2049 318 $136.95 $953.78 $275.00 $1,365.73 $42,869.00
Sep, 2049 319 $133.97 $956.76 $275.00 $1,365.73 $41,912.24
Oct, 2049 320 $130.98 $959.75 $275.00 $1,365.73 $40,952.48
Nov, 2049 321 $127.98 $962.75 $275.00 $1,365.73 $39,989.73
Dec, 2049 322 $124.97 $965.76 $275.00 $1,365.73 $39,023.97
Jan, 2050 323 $121.95 $968.78 $275.00 $1,365.73 $38,055.19
Feb, 2050 324 $118.92 $971.81 $275.00 $1,365.73 $37,083.38
Mar, 2050 325 $115.89 $974.84 $275.00 $1,365.73 $36,108.54
Apr, 2050 326 $112.84 $977.89 $275.00 $1,365.73 $35,130.64
May, 2050 327 $109.78 $980.95 $275.00 $1,365.73 $34,149.70
Jun, 2050 328 $106.72 $984.01 $275.00 $1,365.73 $33,165.69
Jul, 2050 329 $103.64 $987.09 $275.00 $1,365.73 $32,178.60
Aug, 2050 330 $100.56 $990.17 $275.00 $1,365.73 $31,188.43
Sep, 2050 331 $97.46 $993.27 $275.00 $1,365.73 $30,195.16
Oct, 2050 332 $94.36 $996.37 $275.00 $1,365.73 $29,198.79
Nov, 2050 333 $91.25 $999.48 $275.00 $1,365.73 $28,199.31
Dec, 2050 334 $88.12 $1,002.61 $275.00 $1,365.73 $27,196.70
Jan, 2051 335 $84.99 $1,005.74 $275.00 $1,365.73 $26,190.96
Feb, 2051 336 $81.85 $1,008.88 $275.00 $1,365.73 $25,182.08
Mar, 2051 337 $78.69 $1,012.04 $275.00 $1,365.73 $24,170.04
Apr, 2051 338 $75.53 $1,015.20 $275.00 $1,365.73 $23,154.84
May, 2051 339 $72.36 $1,018.37 $275.00 $1,365.73 $22,136.47
Jun, 2051 340 $69.18 $1,021.55 $275.00 $1,365.73 $21,114.92
Jul, 2051 341 $65.98 $1,024.75 $275.00 $1,365.73 $20,090.17
Aug, 2051 342 $62.78 $1,027.95 $275.00 $1,365.73 $19,062.22
Sep, 2051 343 $59.57 $1,031.16 $275.00 $1,365.73 $18,031.06
Oct, 2051 344 $56.35 $1,034.38 $275.00 $1,365.73 $16,996.68
Nov, 2051 345 $53.11 $1,037.62 $275.00 $1,365.73 $15,959.07
Dec, 2051 346 $49.87 $1,040.86 $275.00 $1,365.73 $14,918.21
Jan, 2052 347 $46.62 $1,044.11 $275.00 $1,365.73 $13,874.10
Feb, 2052 348 $43.36 $1,047.37 $275.00 $1,365.73 $12,826.72
Mar, 2052 349 $40.08 $1,050.65 $275.00 $1,365.73 $11,776.08
Apr, 2052 350 $36.80 $1,053.93 $275.00 $1,365.73 $10,722.15
May, 2052 351 $33.51 $1,057.22 $275.00 $1,365.73 $9,664.93
Jun, 2052 352 $30.20 $1,060.53 $275.00 $1,365.73 $8,604.40
Jul, 2052 353 $26.89 $1,063.84 $275.00 $1,365.73 $7,540.56
Aug, 2052 354 $23.56 $1,067.17 $275.00 $1,365.73 $6,473.39
Sep, 2052 355 $20.23 $1,070.50 $275.00 $1,365.73 $5,402.89
Oct, 2052 356 $16.88 $1,073.85 $275.00 $1,365.73 $4,329.05
Nov, 2052 357 $13.53 $1,077.20 $275.00 $1,365.73 $3,251.84
Dec, 2052 358 $10.16 $1,080.57 $275.00 $1,365.73 $2,171.28
Jan, 2053 359 $6.79 $1,083.94 $275.00 $1,365.73 $1,087.33
Feb, 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 $85,546.15
Total Payment $491,662.74 $454,542.87
Total Savings $0 $37,119.87
Payoff Date Feb, 2053 Feb, 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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