Use this calculator to help estimate closing costs on a VA home loan. Enter your closing date, the sale price, your military status & quickly see the estimated closing cost. This is an estimate of how much you will need on the day your home purchase is made. Please remember that this is an estimate, the actual fees and expenses may change depending on a variety of factors including the actual closing date, your military status & if you finance your funding fee. Below is a summary of the inputs and calculations used to create this estimate.
Take advantage of your military benefits today with a $0-down VA loan from Veterans United. Veterans United is the nation's #1 VA home purchase lender & has originated over $10.2 billion in home loans since 2017.
The fifth section of the calculator [Loan costs] contains multiple important variables for veterans. Namely it lists VA status, loan use & if the funding fee is financed in the loan. By default these are set to active duty/retired military, first time use & funding fee financed.
You can also edit any of the other variables in the calculator. For sections that are minimized by default, please click on the dropper in the upper right section to expand them. Once you are done with your calculations you can click on the [View Report] button to bring up a detailed report about your loan. Once you are in the active report view you can click the [Print] button to create a printer friendly version of your results.
For your convenience a tab at the top of the page shows current mortgage rates. You can use these rates to estimate the price of various mortgage loan products.
|Borrower||Down Payment||Funding Fee (1st use)||Subsequent Funding Fee|
|Disabiled 10%+ in Service||Any||0%||0%|
|Regular Military||None||2.15%||3.3% *|
|Regular Military||5 - 10%||1.5%||1.5%|
|Regular Military||10% &Up||1.25%||1.25%|
|Regular Military||Cash Out Refi||2.15%||3.3%|
|Reservist & National Guard||None||2.4%||3.3% *|
|Reservist & National Guard||5 - 10%||1.75%||1.75%|
|Reservist & National Guard||10% &Up||1.5%||1.5%|
|Reservist & National Guard||Cash Out Refi||2.4%||3.3%|
|Regular Military, Reservist & National Guard||IRRRLs||0.5%||0.5%|
|Regular Military, Reservist & National Guard||Manufactured Homes||1.0%||1.0%|
|Regular Military, Reservist & National Guard||Loan Assumptions||0.5%||0.5%|
* The higher subsequent use fee does not apply to these types of loans if the Veteran's only prior use of entitlement was for a manufactured home loan.
Source: Funding Fee Table [PDF] on benefits.va.gov, citing Public Law 112-56, signed November 21, 2011
On August 1, 2019 Ginnie Mae announced they were lowering the loan-to-value limit on cash out refinancing loans to 90% LTV. Previously the limit was 100%.