Understanding VA Loans
VA loans are mortgage loans guaranteed by the U.S. Department of Veterans Affairs, available to eligible veterans, active-duty service members, and surviving spouses. They offer some of the best terms available: no down payment required, no private mortgage insurance, competitive interest rates, and limited closing costs.
VA Funding Fee Schedule
The VA funding fee is a one-time charge that helps offset the cost of the VA loan program to taxpayers. The fee varies based on your down payment amount, service type, and whether it is your first VA loan. Veterans with a service-connected disability are exempt from the funding fee entirely.
Frequently Asked Questions
Who is eligible for a VA loan?â–¾
VA loans are available to veterans, active-duty service members, National Guard and Reserve members with qualifying service, and eligible surviving spouses. Generally, you need at least 90 days of wartime service or 181 days of peacetime service. You will need a Certificate of Eligibility (COE) from the VA.
Can I use a VA loan more than once?â–¾
Yes. VA loan entitlement can be restored after you have paid off a previous VA loan. You can even have two VA loans simultaneously if you have remaining entitlement. Note that the funding fee is higher for subsequent use (3.3% with no down payment vs 2.15% for first-time use).
Is there a VA loan limit?â–¾
As of 2020, there are no loan limits for borrowers with full entitlement. If you have remaining entitlement from a previous VA loan, county-level limits may apply based on FHFA conforming loan limits. Most eligible veterans can borrow well above the conforming limit with no down payment.
Can I roll the funding fee into my loan?â–¾
Yes. Most borrowers choose to finance the VA funding fee into the loan rather than paying it upfront at closing. This increases your loan balance and monthly payment slightly, but means less cash needed at closing. This calculator assumes the funding fee is financed into the loan.
Calclypso Editorial Team
Reviewed by certified financial professionals. Last updated: April 2026. VA funding fee rates sourced from the U.S. Department of Veterans Affairs.