VA Home Loan Affordability Calculator

Estimate your loan pre-approval amount based on your income and expenses

home price $252,351 monthly payment $1,571 Left Over $1,007

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Advanced Settings

Enter a specific DTI

DTI (Debt to Income ratio) is the ratio of your total monthly debt payments to your gross monthly income.

VA-approved lenders use 41 percent as a top benchmark, but you need to find a balance that feels right for your needs and goals.

What factors affect affordability?

How we determine affordability

We'll use the information you provide about your income and expenses to assess your debt-to-income ratio (DTI). The debt-to-income ratio represents the percentage of your monthly gross income that you pay toward debt obligations and a proposed monthly mortgage payment.

Total debt-to-income (DTI) ratio

You don't have to be debt-free to buy a home — most homebuyers have debts that they pay each month. But your DTI will play a major role in how much you're able to borrow for a mortgage. Budgeting, building reserves, and practicing your mortgage payment can help you assess your homeownership readiness and reduce debt.

Closing costs and VA loans

Regardless of loan type, interest rate or down payment amount, every mortgage comes with some up-front costs. Some homebuyers pay these costs out of pocket, while others negotiate for the sellers to help cover them.

Closing costs can be roughly grouped into two categories. Loan-related costs typically include lender fees, Title Company or attorney fees, discount points, appraisal and inspection costs. Tax & insurance premiums, HOA fees, and real estate agent commissions are examples of non-loan closing costs.

VA vs. conventional loan

Eligible VA buyers can benefit from $0 down financing options and no monthly PMI — features that you can't find with conventional mortgage products. But there's no one-size-fits-all mortgage solution. The best loan for you depends on your financial profile and your priorities.

Compare the loan types side-by-side »

VA Loan
Basics

The VA loan program has helped millions of service members, veterans and military families secure home financing since its creation in 1944.

VA Loan Basics →

Where to Start: Lender or Real Estate Agent?

While you can start the homebuying journey with a real estate agent, talking first with a trusted VA lender offers a few key advantages.

Where to Start →

VA Loan
Prequalification

Loan prequalification and preapproval are incredibly important steps that give homebuyers a clear sense of their purchasing power and what they can realistically afford.

VA Loan Prequalification →

Note: This home affordability calculator provides a broad estimate of mortgage affordability. To get a personalized quote from a trusted loan specialist, call (931) 920-2252 or Get Started Online.