VA Funding Fee Rates Overview
Instead of monthly PMI, VA loans require a one-time VA Funding Fee, which can be financed directly into your total loan amount:
| Usage Type | Down Payment | Funding Fee Rate |
|---|---|---|
| First-Time Use | 0% Down | 2.15% |
| First-Time Use | 5% – 9.9% Down | 1.50% |
| First-Time Use | 10%+ Down | 1.25% |
| Subsequent Use | 0% Down | 3.30% |
| Subsequent Use | 5%+ Down | 1.50% / 1.25% |
VA Loan Calculation Formulas
\(\text{Down Payment} = \text{Home Price} \times \frac{\text{Down Payment \%}}{100}\) \(\text{Base Loan} = \text{Home Price} - \text{Down Payment}\) \(\text{VA Funding Fee} = \text{Base Loan} \times \frac{\text{Funding Fee \%}}{100}\) \(\text{Total Financed Loan} = \text{Base Loan} + \text{VA Funding Fee}\)
Frequently Asked Questions
Do VA loans require private mortgage insurance (PMI)?
No! Unlike conventional or FHA loans, VA loans never charge monthly PMI, creating substantial monthly savings for military buyers.
What credit score is required for a VA loan?
While the VA does not set a rigid minimum credit score, most VA-approved lenders require a minimum credit score of 580 to 620.
Is my personal data stored anywhere?
No. All calculations execute locally inside your web browser. History and saved presets remain strictly in your local browser storage.