A VA loan on a $1,275,000 house with $0 down costs about $10,074.85 per month at 6.85%, including property tax and insurance but no mortgage insurance — VA charges none at any loan-to-value. A one-time funding fee of $27,413 (2.15%) is rolled into the loan.
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About $10,074.85 per month with no money down at 6.85% — $8,534.18 principal and interest plus estimated tax and insurance. There is no monthly mortgage insurance.
Yes. VA permits 100% financing on a primary residence for a qualifying veteran with full entitlement, and the funding fee can be financed too. You still owe closing costs, though a seller may contribute toward them.
$27,413 at the 2.15% first-use, no-down-payment rate. Putting 5% down drops the rate to 1.5% and 10% down to 1.25%. Veterans with a service-connected disability pay nothing.
About $1,328.13 per month compared with a conventional loan at this loan-to-value — roughly $127,500 before conventional PMI could even be cancelled.
Your loan drops to $1,275,000 instead of $1,302,413, saving $27,413 outright and lowering the payment to about $9,895.22. Exemption applies to disability-compensated veterans and eligible surviving spouses.
Sources: Freddie Mac Primary Mortgage Market Survey; Tax Foundation — Property Taxes by State; Consumer Financial Protection Bureau.
Estimates for educational purposes only — not a loan offer, financial advice, or a commitment to lend. Actual rates, payments, and terms vary by lender and creditworthiness.