VA Purchase Loan Payment Calculator
- By Jim Blackburn
- on
- Tags: Calculators, New Construction, Spec Homes
Estimate Your Monthly Payment & Upfront Costs on a New VA Home Purchase
The VA loan is one of the most powerful tools available to veterans and active-duty military members. With no down payment, competitive rates, and flexible credit guidelines, it’s designed to make homeownership more accessible. Use the example scenario below to estimate your costs and take your first step toward buying a home.
Loan Scenario Example
| Input | Amount |
|---|---|
| Purchase Price | $300,000 |
| Down Payment | 0% |
| Loan Term | 30 Years |
| Interest Rate | 7.00% |
| Annual Insurance | $2,400 |
| Annual Property Taxes | $3,600 |
| Monthly HOA | $0 |
| First-Time Use of VA Loan | Yes |
| Veteran Disabled? | Yes |
Financing & Monthly Expenses
| Description | Value |
|---|---|
| Base Loan Amount | $300,000 |
| VA Funding Fee (waived if disabled) | $6,450 |
| Funding Fee Discount (if disabled) | -$6,450 |
| Final Loan Amount | $300,000 |
| Principal & Interest | $1,996/month |
| Homeowners Insurance | $200/month |
| Property Taxes | $300/month |
| Property Tax Exemption (if disabled) | -$300/month |
| HOA Fees | $0 |
| Total Monthly Housing Cost | $2,196/month |
Estimated Cash Needed at Closing
| Scenario | Out-of-Pocket Cost |
|---|---|
| Without Seller Credit | $18,000 |
| With Seller Credit (6%) | $0 |
These estimates include standard closing costs and prepaids. Some fees can be covered by the seller depending on the terms of your offer. Veterans are restricted from paying certain closing costs, so it’s critical to coordinate with your Realtor and VA lender before submitting an offer.
Minimum Income Needed to Qualify
| Qualification Metric | Estimate |
|---|---|
| Target Monthly Income | $4,392 |
VA loans offer flexible debt-to-income (DTI) allowances—often exceeding 50% when compensating factors like high residual income, strong credit, or savings are present. Let your lender guide you on the qualifying amount based on your full profile.
Can You Reuse Your VA Loan?
Yes. After you’ve purchased this home, you can use your VA loan again to buy another property, if:
- You sell or refinance the first one into a non-VA loan
- You pay off the original VA loan and apply for a one-time entitlement restoration
- You use remaining entitlement if your new loan is within limits
Each situation is unique—talk with a VA loan expert to navigate your best option.
Start Your VA Homeownership Journey Today
You’ve run the numbers. You understand the opportunity. Now let’s turn your benefits into bricks and mortar. Our VA loan specialists are ready to help you create a personalized mortgage plan and connect you with a trusted Realtor in your area.
Ready to Take Your First Step?
Skip the guesswork. Take our quick Discovery Quiz to uncover your top financial priorities, so we can guide you toward the wealth-building strategies that fit your life.
- 💡 Takes just 5 minutes
- 📊 Tailored results based on your answers
- 🔒 No credit check required
Need a Pre-Approval Letter—Fast?
Buying a home soon? Complete our short form and we’ll connect you with the best loan options for your target property and financial situation—fast.
- 💡 Only 2 minutes to complete
- 📊 Quick turnaround on pre-approval
- 🔒 No credit score impact
Got a Few Questions First?
Let’s talk it through. Book a call and one of our friendly advisors will be in touch to guide you personally.
Schedule a CallImportant Disclaimer
This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.
