5.0 · 624 reviews · Jim Blackburn · NMLS #1072866
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VA · Renovation Refinance

VA Renovation Refinance Loan Payment Calculator

Refinance and renovate with your VA benefit. Estimate total project costs, maximum VA loan, funding fee, full monthly payment, cash to close, and the income needed to qualify.

Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer

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Your existing P&I, excluding taxes and insurance.

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Summary

Project Costs

Total Property Costs$630,000Payoff + renovation + 10% contingency.
Total Financeable Allowable Costs$655,200Includes ~4% estimated closing costs. Not a Loan Estimate.

Loan

Maximum VA Loan Allowed$300,000
VA Funding Fee (3.3%)$21,622
Funding Fee Discount (if disabled)-$21,622
Final Loan Amount$300,000Max VA loan plus funding fee (less disabled-veteran waiver).

Payment Breakdown

Principal & Interest Payment$1,996
Monthly Insurance$200
Monthly Taxes$300
Tax Discount (if disabled)-$300
HOA (paid separately)$0
Total Monthly Housing Expense$2,196

Cash to Close

Cash Out of Pocket (no lender credit)$355,200
Monthly Income Target to Qualify$4,392VA allows DTI up to or exceeding 50% with strong residual income.
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Estimates only — not a commitment to lend.

Jim Blackburn

By Jim Blackburn

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Important Disclaimer

This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.

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