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Comparison tool

VA vs FHA Loan Calculator

Side-by-side. Same price, same rate, real fee structures for 2026 — VA funding fee vs FHA upfront + monthly MIP. If you're a veteran torn between the two, this is the fastest way to see which loan actually costs less over 30 years.

Scenario
Same purchase price / same rate for both.
$
VA Loan ($0 down)
Funding fee financed; no monthly MI.
Down payment$0
Upfront funding fee (2.15%)$8,600
Loan amount (financed)$408,600
Monthly P&I$2,583
Monthly MI$0
30-year total cost$929,747
FHA Loan (3.5% down)
Upfront MIP financed; monthly MI for life of loan.
Down payment$14,000
Upfront MIP (1.75%)$6,755
Loan amount (financed)$392,755
Monthly P&I$2,482
Monthly MIP (0.55%/yr)$177
30-year total cost$971,382
VA saves $41,636 over 30 years
Almost entirely from avoiding FHA's monthly MIP, which continues for the life of the loan at < 10% down.
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Keep digging

The full VA entitlement calculator handles bonus-entitlement math if you already have an active VA loan. If FHA is your fallback, run it through the affordability calculator with loan type set to FHA. Every program hinges on DTI — check it before you commit. Considering a refi later? Refinance calculator. Plan your monthly payment in the mortgage payment calculator and your cash to close in the closing costs calculator.

Frequently asked questions

Should a veteran ever choose FHA over VA?

Almost never on cost — VA usually wins on lifetime cost because there's no monthly mortgage insurance. FHA can make sense in narrow cases: seller/agent unfamiliarity with VA in ultra-competitive markets, condos that aren't VA-approved but are FHA-approved, or if the veteran has zero remaining entitlement and doesn't want to restore it.

How does the VA funding fee compare to FHA MIP?

VA charges a one-time funding fee (2.15% first use / 3.3% subsequent use, financed) and no monthly MI. FHA charges 1.75% upfront MIP plus 0.55% annual MIP that never comes off for loans with < 10% down. Over 30 years the FHA monthly MIP typically costs $30K–$70K more than the VA funding fee.

Which loan has stricter credit and DTI requirements?

FHA is more lenient on credit floors (580 for 3.5% down, 500 for 10% down). VA has no VA-mandated minimum, but lenders overlay 580–620. On DTI, FHA allows up to 56.9% with compensating factors; VA uses residual-income testing that often approves higher ratios if residual passes.

Can I use VA and FHA at the same time?

Not for the same property. You can have an FHA loan on one home and a VA loan on another (or vice versa) if the second loan is a primary residence you're moving into. Second-home and investment-property purchases are not allowed under either program.