Calculate How Much You Can Afford
Mortgage Payment Calculator Help
This mortgage payment calculator will help you determine the cost of homeownership at today’s mortgage rates, accounting for principal, interest, taxes, homeowners insurance, and, where applicable, condominium association fees. The default values of the mortgage calculator, including mortgage rate and length of loan, can be easily adjusted to reflect your current situation.
You can use the mortgage payment calculator in three ways. (1) You can use it to find the monthly mortgage payment of a home, given current mortgage rates and a specific home purchase price; (2) You can use it to find your maximum home purchase price given your annual household income; and (3) You can use it to determine your maximum home purchase price given a specific monthly budget for housing.
Tip: Many Veterans assume they are not eligible for their home buying benefit. But the minimum service requirement is between 90 days and 2 years for most Veterans. Check your eligibility >>
But data from the past five years reveals that 94% of Veterans have bypassed this benefit, only one of them has used a benefit that makes home buying unbelievably easier.
VA mortgage rates are at historical lows. Now is the time to lock in your rate. Even a modest jump in interest rates can have big consequences when applied to loans as large as a home mortgage. For example, consider the cost of waiting too long and having VA interest rates rise by a mere one percent. The difference between a 30-year, fixed-rate mortgage of $250,000 at 4% APR and one at 5% APR is nearly $150 per month and more than $53,000 over the life of the loan!
Here’s How to Find Out if you Qualify
Veterans eager to get the process started should send their request to a VA lender.
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