HomeBuyingCalc.com · VA Residual Income Report ·

VA Loan Calculator

Your VA payment, funding fee and residual income.

Home Loan Details

Home Purchase Price iThe purchase price of the home you are buying, before any down payment.

Down Payment iWhat you are putting down, as a percent of the price or a dollar amount. VA loans allow 0% down, so this can stay at 0.

Putting more down lowers your VA funding fee. On a first use purchase loan:
Less than 5% down: 2.15%
5% to less than 10% down: 1.5%
10% or more down: 1.25%

Subsequent use is higher only under 5% down, where it jumps to 3.3%. At 5% or more down it matches the same 1.5% and 1.25%.

Interest Rate iEnter an interest rate to test your scenario. Prefilled values are examples, not available rates or a quote. This is the note rate, not APR; APR includes certain loan costs and is not calculated here.

Compare market rates

Loan Term iThe repayment term in years. This model assumes a fixed interest rate and fully amortizing monthly payments. A shorter term generally increases principal-and-interest payments and reduces total interest.

Home Square Footage iThe finished living area in square feet. It estimates monthly maintenance and utilities at $0.14 per square foot, currently $280.00/mo, used in the residual calculation.

Property Type iSelect the property type. VA eligibility depends on occupancy, property standards, appraisal, project approval where applicable and lender requirements. SFH

Is It in an HOA? iChoose Yes if the property has homeowners association dues. Plenty of single-family homes and most townhouses sit in an HOA, so check the listing if you are not sure. Choosing Yes opens the dues field under Monthly Housing Costs.

Property eligibility and condition are subject to lender and VA review.

Usage iSelect the applicable use of your VA benefit. Funding fees depend on use, down payment and exemption status. This purchase-loan model finances the fee. Confirm your Certificate of Eligibility and fee status with your lender.

Exempt from the VA funding fee? iChoose Yes only if VA funding-fee exemption applies to you. Qualifying cases include certain disability-compensation recipients, surviving spouses and active-duty service members. A disability percentage alone is not the full eligibility test. Confirm with your lender and VA.

Funding Fee

$8,600

Loan Amount

$408,600

Principal & Interest

$2,449.76/mo

Monthly Housing Costs

Property Taxes iUse a property-specific estimate from the taxing authority. Taxes, assessments and exemptions can change after purchase; a listing or prior tax bill may not reflect your future bill.

= $500/mo

Use a local tax estimate

State

County

Choose a county to fill the annual rate. You can still edit the tax amount.

Homeowner's Insurance iUse an insurance quote for this property. The default is an example. Include flood, windstorm or other required coverage under Other if not included here.

= $167/mo

Other (flood insurance, etc.) iAny other monthly housing cost, such as flood insurance or a special assessment. Leave it at 0 if none apply.

Household

State iThe state where the home is located. It sets your VA region for the residual income tables and is used to estimate your state income tax. TX

Family Size iThe number of people living in the home, or who will live there once you move in. Include yourself, your spouse, and all dependents.

Childcare iThe monthly amount you pay to care for children 12 and under while you work or are away, such as daycare, after school care, or a sitter. Enter your monthly total, or 0 if none.

Texas counts as the South region for VA residual income tables.

Income iEnter income you want considered. The model makes simplified tax, rental-income and tax-free-income adjustments; these are not a lender’s determination of qualifying income. Social Security may be partly taxable. Alimony, child support and separate maintenance income need not be disclosed unless you want it considered.

Total Monthly Income

$7,000

Est. Income Taxes iA simplified federal, payroll and state tax estimate using built-in assumptions. Filing status, deductions, credits, local taxes and benefit taxation may differ. This is not your actual take-home pay or tax advice.

$1,340/mo (19.1%)

Effective Tax Rate

19.1%

Monthly Liabilities iEnter recurring monthly debts, including applicable student loan payments and support obligations. Required qualifying payments may differ from a credit report or the amount you currently pay. Do not enter the proposed home payment twice. Household living expenses still need a separate budget.

Are you obligated to pay alimony, child support, or separate maintenance? iThe same question every loan application asks. Court-ordered payments count as monthly debts even when they do not show on your credit report.

Total Monthly Debts

$500/mo

I am active duty or a retiree, I live near a military base, and I regularly use its facilities like the Commissary, Exchange, or Base Medical. Reduces the required residual income by 5%. Your lender verifies it, so only check it if it clearly applies to you.

Estimated monthly payment

$3,317.17

P&I $2,450 Taxes $500 Ins $167

Debt to Income (DTI) Ratio iDTI compares housing costs and monthly debts with modeled income. This calculator adds a 20% residual-income cushion above 41% DTI. Actual VA analysis includes exceptions and lender review; meeting a displayed threshold does not establish eligibility.

51.67%

51.7% of income toward debts41% cushion line

Over 41%: the required residual income gets a 20% cushion

Your Residual Income

$1,563.16

Estimated residual income requirement

$1,066.80

Covers the minimum $1,067 Your cushion $697

Family of 3 · South · loan $80k+$889.00

DTI over 41% (+20%)+$177.80

Estimated requirement$1,066.80

Estimated residual requirement met

Above the modeled residual target by $696.77/mo; not a loan approval

Your lender also reviews:

Credit history
Automated underwriting findings
Lender overlays
Savings left after closing
Job history

See my cash to close →

Have a VA disability rating? See your Texas property tax break →

Where Your Income Goes iAn illustration of income after the costs included in this model. It is not a full household budget, an actual tax calculation or an underwriting determination.

$1,764

left over/mo

Housing payment$3,117

Income taxes (est.)$1,340

Monthly debts$500

Maintenance & utilities$280

Residual (left over)$1,764

The math: gross income minus taxes, the full house payment, upkeep, monthly debts, and childcare. What is left is modeled residual income, not a complete household budget.

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Save your loan, payment and income snapshot.

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Compare current market rates

National averages from Optimal Blue, not a personalized quote. Actual pricing depends on your credit, down payment, loan details and discount points. Check the date shown below. These averages do not change the rate entered in your calculator.

Source: Optimal Blue Mortgage Market Indices (OBMMI). Open market rates in a new tab.

Your results explained

Understand your numbers

What is residual income?

Residual income is the amount remaining after modeled taxes, housing costs, maintenance, utilities, debts and childcare. It is part of VA underwriting, but does not replace a complete personal budget or lender review.

Why does the model use 41% DTI?

VA treats 41% as a reference point requiring additional analysis, not a universal approval cutoff. This tool applies a 20% residual cushion above it. Exceptions, qualifying-income treatment and lender requirements may affect the actual review.

Who is exempt from the funding fee?

Exemptions can apply to eligible recipients of service-connected disability compensation, certain surviving spouses and certain active-duty service members, among other qualifying cases. Ask your lender to verify your status with VA before selecting an exemption.

What else does a VA loan require?

A lender reviews your Certificate of Eligibility, available entitlement, occupancy, credit, income, assets and the property. No down payment may be available to eligible borrowers, but closing costs or a down payment can still apply. This tool models the funding fee as financed.

It models the VA residual income and DTI guidelines, but a lender verifies your full file: income, assets, liabilities, credit, and payment history, and may apply its own overlays. Taxes, insurance, and maintenance figures are estimates that vary by property and location. Confirm your numbers with a licensed loan officer before making decisions.