VA vs Conventional Refinance Comparison

Compare the true costs of refinancing to a conventional loan vs keeping your VA loan

VA Loan

Loan Amount$0
Interest Rate6.500%
P&I Payment$0
PMI/MIP$0
Total Monthly$0
No down payment required
No PMI ever
Lower interest rates

Conventional Loan

Loan Amount$0
Interest Rate6.875%
P&I Payment$0
PMI (if < 20% down)$0
Total Monthly$0
Down payment required ($100,000)
PMI required if < 20% down
Higher interest rates

Cost Comparison Summary

Monthly Difference
$0
Conv. saves per month
Annual Difference
$0
Conv. saves per year
5-Year Difference
$0
Conv. saves over 5 years
Don't Forget These Costs:
VA Funding Fee (2.3% first use):$11,500
Conv. Down Payment (20%):$100,000

Note: This calculator compares principal, interest, and PMI only. Actual payments include taxes, insurance, and HOA fees. VA rates typically average 0.25-0.47% below conventional rates. PMI estimates based on credit score and LTV ratio. Consult with a loan officer for personalized rates and exact costs.