2017 RANKING & REVIEWS
TOP RANKING BEST VA MORTGAGE LOAN CALCULATORS
2017 Guide: Using a VA Loan Mortgage Calculator to Find the Perfect New Home
Did you know that a VA mortgage loan can help get into the home that you’ve been dreaming of? Imagine waking up in a gorgeous colonial home in a good neighborhood, where your family can finally lay down some roots. Does that paint a nice picture for you?
With a VA mortgage loan, you can make this a reality! However, most of the hard work comes before you even step foot in a home, or meet with a realtor. It comes when you start looking into your budget and analyzing what you can afford on a monthly basis.
Knowing how to calculate monthly mortgage payments is no easy task. That is why there are VA mortgage calculators to help you out.
Award Emblem: Best VA Mortgage Calculators
A VA loan mortgage calculator can help you determine what your monthly payment would be, based on loan amount, terms, and interest rates. They range in complexity and ease-of-use, and there are many VA mortgage loan calculators available on the internet.
When looking into VA mortgage calculators, chances are that you have many questions, including:
- What is a VA mortgage loan?
- What will a VA loan mortgage calculator tell me?
- What information do I need to know to use VA mortgage calculators?
- What should I look for in VA mortgage loan calculators?
- Do I need a VA mortgage calculator with taxes and insurance?
- What are the best VA mortgage loan calculators out there?
Throughout this 2017 guide, we will answer the questions you have surrounding VA mortgage loans. We will explain how they work and what to look for in a mortgage calculator for a VA loan. Finally, we will provide a detailed review of the six best VA mortgage calculators to help make the process run as smoothly as possible for you!
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Advisory HQ’s List of Top 6 Best VA Mortgage Calculators
List is sorted alphabetically (click any of the VA mortgage loan calculators below to go directly to the detailed review section for that VA loan mortgage calculator):
Top 6 Best VA Mortgage Loan Calculators | Brief Comparison & Ranking
VA Mortgage | Ease of Use | Number | Outputs |
| Anytime Estimate | 3.5 | 9 | Monthly Loan Payment & VA Mortgage Amount |
| Bankrate | 4 | 4 | Monthly Payment |
| USAA | 4 | 4 | Monthly Payment |
| VA Loan Calculator | 3.5 | 7 | Estimated Monthly Payment |
| Veterans United | 3.5 | 11 | Estimated Monthly Payment |
| What’s My Payment?® | 3 | 7 | Monthly Loan Payment |
Table: Top 6 Best Mortgage Calculator for a VA Loan / Above list is sorted alphabetically
Detailed Overview: What Is a VA Mortgage Loan?
Before we analyze your options for a VA mortgage loan calculator, it’s a good idea to take a moment and ensure that you understand what a VA mortgage loan is.
A VA loan is a mortgage that is backed by the Department of Veterans Affairs, otherwise known as the VA. These mortgages are for those who are presently serving or have served in the United States military.
These loans are not provided by the VA; rather, the department backs the loan that is made by private lenders, such as mortgage companies, banks, and other financial institutions.
Source: First National Realty
One major benefit about a VA loan is that there is no down payment needed to buy a home. This feature alone makes owning a home a real possibility for active and past service members.
Those who qualify for a VA mortgage loan include veterans, active-duty service members, reserve members, National Guard members, and some surviving spouses.
Though you are not guaranteed a loan approval, VA loans are a great way to help you take a step toward home ownership.
Detailed Overview: Features to Consider in a Mortgage Calculator for VA Loans
Many banks, financial institutions, and finance-based websites offer their own version of a VA loan amount calculator. It is important to choose a VA mortgage calculator that meets your needs.
There are many variables to consider, such as the type of information generated and how easy it is to use the VA mortgage loan calculator. Like anything in life, people have different preferences when it comes to selecting a VA mortgage payment calculator. The VA mortgage rate calculator that works for you might not be the best VA mortgage calculator for someone else.
When looking for a mortgage calculator for a VA loan, consider the following:
- User interface
- Complexity of calculator
- Number & type of inputs
- Type of information generated
As you can see, there are many things to consider when looking at which VA mortgage calculator you should use. You obviously want to choose a VA mortgage rate calculator that is simple to use, but you need to choose a VA loan amount calculator that has the right inputs.
A VA mortgage calculator with taxes and insurance might be a bit more complex, but it gives you a much more accurate budgetary figure than a VA mortgage payment calculator that does not figure in taxes or insurance. If you want the most accurate number, a VA loan mortgage calculator with taxes and insurance is something you should consider seriously.
Aside from a VA mortgage calculator with taxes and insurance options, be sure to select one with clearly defined inputs. You don’t want to waste time trying to decide what numbers you should be putting into a VA loan mortgage calculator with taxes and insurance.
Also, be sure that the VA mortgage loan calculator that you select generates the information you need. Using a mortgage calculator for VA loan will make your calculations go much faster.
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Detailed Review – Top Ranking Best Mortgage Calculator for a VA Loan
Below, please find the detailed review of each VA mortgage rate calculator on our list of VA mortgage loan calculators. We have highlighted some of the factors that allowed these VA mortgage payment calculators to score so highly in our selection ranking.
Anytime Estimate Review
The Anytime Estimate is a great VA loan mortgage calculator if you are looking for a detailed output.
This mortgage calculator for a VA loan takes a few more inputs than other VA loan calculators. You will need to enter sales price, down payment percentage, eligibility, funding fee, interest rate, and term. What’s nice about this mortgage calculator for a VA loan is that you can enter real estate taxes and insurance costs into the calculator as well.
After entering this information, like some other VA mortgage calculators, this one will show the base mortgage, VA funding fee amount, and full mortgage amount. This is a great tool to help with budgeting, and it is quite simple to use.
Bottom Line
If you want detailed VA mortgage loan calculators, the Anytime Estimate Veteran Home Loan Calculator is a good option. With the option to include taxes and homeowners insurance, you can get a quite detailed look at what the overall cost of the loan is. However, there is no monthly breakdown generated.
Bankrate Review
The mortgage calculator for a VA loan from Bankrate is similar to other Bankrate calculators. It is simple to use with inputs that are clearly defined.
You will need just four inputs to generate a result. After entering the loan amount, loan term in months or years, annual interest rate, and loan start date, this VA loan mortgage calculator will calculate your monthly payment amount.
One of the best part of this VA loan mortgage calculator is that you can also add in extra payments to see how they affect the overall cost of the loan. You can add in additional monthly, yearly, and even one-time payments to see how the cost differs over time. This is a good feature that other VA mortgage loan calculators do not offer.
Bottom Line
Bankrate offers one of the better VA mortgage calculators out there. Though you cannot factor taxes or insurance into the calculation, this mortgage calculator for a VA loan from Bankrate is a simple option.
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USAA Review
When we say that the USAA VA loan mortgage calculator is easy to use, we mean it. There are only four variables to input.
You will need to choose whether you want the VA loan mortgage calculator to calculate the total loan amount or monthly payment amount. Then, you enter the loan amount, loan term, and interest rate.
One drawback here is that you can only enter a 15- or 30-year loan term with the mortgage calculator for a VA loan from USAA.
Bottom Line
When it comes to VA mortgage loan calculators, there are few simpler than the one offered by USAA. Though you are limited by mortgage loan terms, with only four inputs, this calculator is quick and easy to use.
VA Loan Calculator Review
Right off the bat, the mortgage calculator for a VA loan from VA Loan Calculator seems a bit complex. The user interface can be a bit off-putting at first, but after taking a moment to get acquainted, it is quite easy to use.
You will need to enter the loan type, military experience, home price, down payment, interest rate, loan term, and a few other inputs into this VA loan mortgage calculator.
The result it generates is a range of estimated monthly payments. It’s nice that this mortgage calculator for a VA loan offers a range, as well as what your estimated taxes and insurance will be per month.
Bottom Line
This mortgage calculator for a VA loan from VA Loan Calculator is a good tool to use, if you aren’t sure what your taxes and insurance will be. By estimating it for you, you will be able to see a more detailed look at what your monthly payments will be.
Veterans United Review
The Veterans United VA loan mortgage calculator easily makes the list of best VA mortgage calculators. It can take a moment to understand how to use it, but after scrolling through the calculator, it is easy to catch on.
First, you will need to enter the loan type and your type of military service. Then, you will enter the purchase price of the home, estimated down payment, loan term, and estimated annual rate. The VA loan mortgage calculator also looks at your credit score, whether you are VA disabled, whether you’ve used a VA loan before, as well as the estimated property taxes and homeowner’s insurance.
There isn’t much to the results of the VA loan mortgage calculator. It will show a range of the estimated monthly payment so that you can work it into your budget.
Bottom Line
Overall, the VA loan mortgage calculator from Veterans United is a great tool. Though there is a lot of customization that can be done with this calculator, the one drawback is that you can only use traditional 15- and 30-year mortgage terms.
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What’s My Payment?® Review
If you are looking for a VA loan mortgage calculator, What’s My Payment?® offers a good one. There are only six inputs, all of which are numerical. This means that you can enter varying loan terms and mortgage rates.
By entering the purchase price, loan term, interest rate, down payment, annual taxes, and insurance, this mortgage calculator for a VA loan will display the monthly VA payment based off the information that you enter.
Bottom Line
This mortgage calculator for a VA loan is easy to use, though the interface can appear a bit gimmicky. Thankfully, the variables are easy to change, so you can quickly change inputs to see how your monthly mortgage payment changes.
Conclusion – Top 6 Best VA Mortgage Calculators
With a VA mortgage loan, you can finally get into the home that you have been longing for. Instead of living on military bases and shifting from apartment to apartment, you can secure some stability for your precious family.
However, running through the numbers and determining what you can afford and how much you will expect to pay monthly can be a difficult task. That is why a mortgage calculator for VA loans can be an invaluable tool in your arsenal.
The hard part is choosing the best VA loan mortgage calculator for you when there are so many options out there. Do you need a regular VA loan mortgage calculator, a VA mortgage calculator with taxes, or even a VA mortgage calculator with taxes and insurance? These are questions to ask yourself.
Source: Anchorage Real Estate
With so many options available when looking into VA mortgage calculators, consider the following:
- User interface
- Complexity of calculator
- Number & type of inputs
- Type of information generated
Be sure that you use a VA loan amount calculator that takes into account the level of detail that you would like. A VA mortgage calculator with taxes gives you more accuracy than a simpler calculator, but a VA loan mortgage calculator with taxes and insurance can give you an even more accurate monthly payment.
Take the time to consider a few VA mortgage loan calculators before making your final decision. Then, sit back, relax, and enjoy your new, well-deserved home!
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