VA Mortgage payments are calculated a little differently than a regular mortgage payment. The main difference is the VA funding fee has to be taken in to consideration as it is usually included in the loan amount.
Your VA funding fee will be based on several factors including:
- Whether or not it is your first VA Mortgage;
- Down payment amount, if any;
- Whether you we’re in the Reserves/National Guard;
- If it is a VA mortgage re-finance loan.
- Whether or not your are rated for Military disability.
In order to accurately calculate your mortgage payment, you need to apply the correct funding fee. Most online mortgage calculators do not have a function that includes the VA funding fee. If you are trying to get an estimate of what the payment would be on a VA Loan, please feel free to contact us and we’ll help you estimate a payment for your specific scenario.
To get started with a Texas Vet or VA Loan today, call us or fill out the short form on this page and we’ll help you get pre-qualified for a Texas Vet or VA Home Loan.
Texas Vet & VA Loan Specialist Shirley Mueller
Since 2003 Shirley has originated well over 3000 Texas Veteran and VA Loans. She has helped Veterans in almost every possible circumstance including active duty personnel deployed overseas, returning home, with PCS orders, as well as separated and retiring Veterans. – Read More