VA Loan Calculator

VA loans are available to active-duty service members, veterans, and certain National Guard and Reserve members who meet service-length requirements (typically 90 continuous days during wartime or 181 days in peacetime). Surviving spouses of service members who died in the line of duty or from a service-connected disability also qualify. Eligibility is confirmed via a Certificate of Eligibility (COE) from the VA.

The funding fee replaces private mortgage insurance. For first-use loans with no down payment, it's 2.15% of the loan; subsequent uses are 3.30%. Putting 5% down reduces it to 1.50%, and 10% down reduces it to 1.25%. Veterans with service-connected disabilities and surviving spouses are exempt entirely. The fee is typically financed into the loan.

A standard VA loan finances 100% of the home - no down payment required for properties up to the county loan limit (matched to the conforming limit, $806,500 in 2026 baseline). On a $400,000 home, that's $80,000 in cash not needed at closing. Combined with no PMI and competitive rates, VA loans are typically the best mortgage available to those who qualify.

For borrowers with full entitlement (first use, or prior loan paid off and home sold), there is no loan limit - you can borrow whatever an underwriter approves based on income. For partial entitlement (still have an active VA loan), county loan limits apply: $806,500 baseline in 2026, up to $1,209,750 in high-cost areas.