Regular Military (Active/Vet)
Reserve / National Guard
Service-Connected Disability (Exempt)
First Time Use
Subsequent Use
Base Loan Amount:$0.00
VA Funding Fee (%):0.00%
VA Funding Fee Amount:$0.00
Total Financed Loan Amount:$0.00
Estimated Monthly Principal & Interest:$0.00
*Does not include property taxes, homeowners insurance, or HOA fees.
Understanding the VA 30-Year Fixed Rate Mortgage
The VA 30-year fixed rate loan is one of the most popular financing options for eligible veterans, active-duty service members, and surviving spouses. Unlike adjustable-rate mortgages (ARMs), a fixed-rate mortgage ensures that your principal and interest payments remain constant for the entire three-decade lifespan of the loan. This stability makes it an excellent choice for long-term homeowners who want predictable housing costs.
How the VA Funding Fee Affects Your Balance
One specific mechanic of VA loans is the VA Funding Fee. This is a one-time governmental fee applied to the loan to help offset the cost of the program to taxpayers, as VA loans do not require private mortgage insurance (PMI).
The fee varies based on your down payment and whether this is your first or subsequent use of the benefit. Crucially, this fee can be financed into the loan amount. This means if you buy a home for $300,000 with $0 down, your actual starting loan balance might be $306,900 (assuming a 2.3% fee). Our calculator above automatically determines this fee based on current VA charts and adds it to your amortization schedule.
Why Choose a 30-Year Term?
While 15-year loans offer lower interest rates, the 30-year fixed term provides the lowest possible monthly payment by spreading the repayment over a longer period. This maximizes your purchasing power, allowing you to qualify for a better home while keeping your monthly obligation manageable. For veterans with a service-connected disability rating of 10% or higher, the VA Funding Fee is waived entirely, making the 30-year fixed option even more affordable.
Calculation Logic Used
This calculator computes the monthly payment using the standard amortization formula: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]. However, unlike generic mortgage calculators, it first adjusts the Principal (P) to include the specific VA Funding Fee derived from your down payment percentage and service status.
function calculateVALoan() {
// 1. Get Input Values
var price = parseFloat(document.getElementById('homePrice').value);
var downPayment = parseFloat(document.getElementById('downPayment').value);
var rateInput = parseFloat(document.getElementById('interestRate').value);
var status = document.getElementById('militaryStatus').value;
var usage = document.getElementById('usageType').value;
// 2. Input Validation
if (isNaN(price) || price <= 0) {
alert("Please enter a valid Home Purchase Price.");
return;
}
if (isNaN(downPayment) || downPayment < 0) {
downPayment = 0;
}
if (isNaN(rateInput) || rateInput < 0) {
alert("Please enter a valid Interest Rate.");
return;
}
// 3. Determine Base Loan
var baseLoan = price – downPayment;
if (baseLoan <= 0) {
alert("Down payment cannot equal or exceed Home Price.");
return;
}
// 4. Calculate Down Payment Percentage
var downPaymentPercent = (downPayment / price) * 100;
// 5. Calculate VA Funding Fee Percentage
// Based on standard VA charts (Simplified for general use 2024 rates)
var feePercent = 0;
if (status === 'disabled') {
feePercent = 0.0;
} else {
// Logic for Regular/Reserve
if (downPaymentPercent = 5 && downPaymentPercent < 10) {
feePercent = 1.5;
} else { // 10% or more
feePercent = 1.25;
}
}
// 6. Calculate Monetary Values
var feeAmount = baseLoan * (feePercent / 100);
var totalLoan = baseLoan + feeAmount;
// 7. Amortization Calculation (30 Year Fixed)
var termYears = 30;
var n = termYears * 12; // Total months
var r = (rateInput / 100) / 12; // Monthly interest rate
var monthlyPayment = 0;
if (rateInput === 0) {
monthlyPayment = totalLoan / n;
} else {
// M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1 ]
monthlyPayment = totalLoan * (r * Math.pow(1 + r, n)) / (Math.pow(1 + r, n) – 1);
}
// 8. Update UI
document.getElementById('baseLoanDisplay').innerText = '$' + baseLoan.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('feePercentDisplay').innerText = feePercent.toFixed(2) + '%';
document.getElementById('feeAmountDisplay').innerText = '$' + feeAmount.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('totalLoanDisplay').innerText = '$' + totalLoan.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
document.getElementById('monthlyPaymentDisplay').innerText = '$' + monthlyPayment.toLocaleString(undefined, {minimumFractionDigits: 2, maximumFractionDigits: 2});
// Show results
document.getElementById('resultSection').style.display = 'block';
}