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VA Loan Calculator for Illinois - 2021

Illinois state flagIllinois veterans can easily estimate the monthly mortgage payment for a VA home loan, including the property taxes and homeowner’s insurance. The VA calculator will also estimate the VA funding fee for Illinois active duty vets and reservists. The funding fee may be paid in cash at settlement or included in the mortgage. Reservists are no longer required to pay a slightly higher fee than active duty veterans thanks to the passage of the Blue Water Navy Vietnam Veterans Act of 2019. The VA does not require a down payment with VA loans. Learn about Veteran Loans. Last updated 1/2021

  VA Entitlement Worksheet
  Sales Price (or Appraisal whichever is less)  
  Down Payment  
  VA Eligibility  
  Funding Fee    
  Used entitlement (not restored, if applicable)  
  Interest Rate  
  Monthly Payment  
  Principal & Interest  
  Annual Real Estate Taxes /12 =  
  Annual homeowner's insurance /12 =  
  Mortgage Amount
  Base Mortgage  
  VA Funding Fee  
  Full Mortgage  
  Required Down Payment  
  Guaranty Percentage