Calculator Inputs
Formula Used
Base Loan = Purchase Price - Down Payment.
Funding Fee = Base Loan × Funding Fee Rate.
Total Loan With Fee = Base Loan + Financed Funding Fee.
Lender Charges = Origination Fee + Discount Points + Flat Lender Fees.
Third Party Costs = Appraisal + Credit Report + Title + Settlement + Recording + Transfer + Survey + Pest Fees.
Prepaids And Escrows = Prepaid Interest + Insurance + HOA + Tax Escrow + Insurance Escrow + Reserve Buffer.
Cash To Close = Down Payment + Cash Closing Costs - Credits And Deposits.
How To Use This Calculator
- Enter the purchase price, appraisal value, and down payment.
- Select first use or subsequent use for the VA benefit.
- Choose whether the funding fee is waived or financed.
- Add lender, title, prepaid, escrow, and government charges.
- Enter seller credits, lender credits, gifts, and deposits.
- Press the calculate button to view the result above the form.
- Download the CSV or PDF for your records.
Example Data Table
| Scenario | Price | Down Payment | Use Type | Credits | Estimated Cash Need |
|---|---|---|---|---|---|
| Zero Down First Use | $400,000 | $0 | First | $7,500 | $7,445 |
| Five Percent Down | $400,000 | $20,000 | First | $7,500 | $27,445 |
| Subsequent Use | $400,000 | $0 | Subsequent | $7,500 | $7,445 |
VA Closing Cost Planning
A VA loan can reduce upfront pressure, but it still has settlement costs. This calculator helps buyers organize those costs before they review a Loan Estimate. It separates lender charges, third party services, prepaid items, escrow deposits, credits, and the VA funding fee.
Why This Calculator Helps
Many buyers focus only on the down payment. VA financing may allow zero down, yet closing still matters. Appraisal fees, title charges, recording fees, taxes, insurance, discount points, and daily interest can change the cash needed at settlement. A clear estimate helps you compare lender offers and negotiate seller credits.
Understanding The Funding Fee
The VA funding fee is often the largest VA specific charge. It may be paid at closing, financed into the loan, or waived for eligible borrowers. The calculator selects a purchase fee rate from the use type and down payment level. You can also override the rate when your lender gives a different figure.
Cash To Close
Cash to close is not the same as total closing costs. It includes the down payment and costs paid in cash. It subtracts credits, deposits, and any funding fee that is financed. The result gives a practical number for savings planning.
Advanced Cost Controls
The form includes common buyer items. You can enter origination, discount points, appraisal, credit report, title work, settlement, surveys, pest checks, recording, transfer taxes, prepaid interest, homeowners insurance, tax escrow, insurance escrow, and reserves. It also handles earnest money, lender credits, seller credits, gift funds, and other offsets. This makes the estimate more useful than a simple percentage shortcut.
Using The Results
Review each line before making decisions. High points may reduce the rate, but they increase cash due. Large credits may lower upfront cash, but contracts and program rules can limit them. Compare scenarios with different down payments and credits. Save the result as CSV for spreadsheets. Use the PDF button for a simple client worksheet.
Better Review Before Signing
Use the result as a planning estimate. Then compare it with your official Loan Estimate and Closing Disclosure. Small changes in taxes, insurance dates, title fees, and rate lock choices can affect the final amount. Always ask your lender to explain unfamiliar items.
FAQs
What are VA loan closing costs?
They are settlement expenses paid when a VA-backed home loan closes. They may include lender fees, title charges, appraisal costs, recording fees, prepaid interest, insurance, escrow deposits, and the VA funding fee.
Does a VA loan always need a down payment?
Many eligible borrowers can use VA financing with no down payment. A lender may still require money down because of credit, appraisal, entitlement, or loan approval limits.
What is the VA funding fee?
It is a program fee charged on many VA loans. The amount depends on loan type, use history, down payment level, and exemption status. Some borrowers may qualify for a waiver.
Can the VA funding fee be financed?
Yes. Many borrowers add it to the loan balance. Financing reduces cash due at closing, but it increases the total amount borrowed and may increase interest paid over time.
Are seller credits included?
Yes. Enter seller credits in the credit field. The calculator subtracts them from estimated cash to close, along with lender credits, gift funds, earnest money, and other credits.
Is this calculator a final closing disclosure?
No. It is an estimate for planning. Your final amount should come from your lender, title company, Loan Estimate, and Closing Disclosure.
Why does prepaid interest matter?
Prepaid interest covers interest from closing day until the first regular payment cycle begins. More prepaid days usually increase cash due at settlement.
Can I change the funding fee rate?
Yes. Leave the custom rate blank for automatic purchase-loan tiers. Enter a custom percentage when your lender provides a different rate or special transaction type.