How this calculator works
The funding fee depends on your down payment and whether you have used a VA loan before: 2.15% for first use with under 5% down, 1.5% with 5% or more, and 1.25% with 10% or more. Later uses with under 5% down cost 3.3%.
The fee is usually financed into the loan, so it adds to the balance rather than to cash at closing.
There is no monthly mortgage insurance on VA loans, which often makes the payment lower than an FHA loan of the same size.
Veterans receiving VA disability compensation, eligible surviving spouses and certain Purple Heart recipients are exempt from the fee.
Worked example
$400,000 home, no money down, first use, 6% for 30 years
- Funding fee: 2.15% × $400,000 = $8,600, financed.
- Total loan: $408,600.
- With tax and insurance, the payment is about $2,958 a month, with no mortgage insurance.
Questions people ask
Who qualifies for a VA loan?
Veterans, active-duty service members and some National Guard and Reserve members who meet service requirements, plus some surviving spouses. You need a Certificate of Eligibility.
Is there a VA loan limit?
Borrowers with full entitlement have no VA loan limit, though lenders still check income and credit.
Can I get the funding fee refunded?
If you are later awarded disability compensation effective before your closing date, you may be eligible for a refund. Contact VA.
Can I use a VA loan more than once?
Yes. Later uses usually have a higher funding fee unless you put 5% or more down.
Sources
Last reviewed October 2, 2026