{{GOOGLE_VERIFICATION}} VA Loan Calculator for Rhode Island (RI) — Free Calculator | MortgageCalcTools

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VA Loan Calculator for Rhode Island

Free va loan calculator tailored for Rhode Island (RI). Calculate instantly with state-specific rates and rules.

Home Price ($)

Down Payment (%)

Interest Rate (%)

Loan Term

Usage & Service Type

Disability Exempt (0% funding fee)

Down Payment

Base Loan Amount

VA Funding Fee

Total Loan (with fee)

Monthly Payment

PMI Savings vs Conventional

Total Interest Over Life

Total Cost

VA Loans in Rhode Island

VA loans allow eligible veterans and active-duty service members to buy a home in Rhode Island with no down payment. On the median Rhode Island home of $400,000, that's the full $400,000 financed — no down payment required.

VA Loan Limits in Rhode Island

Veterans with full entitlement have no VA loan limit. The conforming limit of $726,200 in Rhode Island is relevant only for veterans with reduced entitlement. All Rhode Island counties are at the standard conforming limit.

VA Funding Fee

Most VA borrowers pay a one-time VA funding fee: 2.15% for first use with no down payment (1.5% with 5%+ down). On a $400,000 loan, the funding fee is approximately $8,600. Veterans with service-connected disabilities are exempt.

Property Taxes in Rhode Island

VA loans don't change your property tax obligation. Rhode Island's effective rate is 1.40%, adding ~$467/month to your VA PITI payment.

Data: Tax Foundation (2024), US Census Bureau ACS 2023, Zillow, ATTOM Data Solutions. Updated 2024–2025. Figures reflect state averages — consult a licensed professional for personalized advice.

VA Loan Calculator for Other States

Frequently Asked Questions

Can I use a VA loan in Rhode Island?

Yes. VA loans are available in all states including Rhode Island. Eligible veterans and service members can buy the median Rhode Island home ($400,000) with no down payment.

What is the VA loan limit in Rhode Island?

Veterans with full entitlement have no loan limit. For those with reduced entitlement, the baseline conforming limit of $726,200 applies. All Rhode Island counties are at the standard conforming limit.

How much is the VA funding fee in Rhode Island?

For a first-use VA loan with no down payment, the funding fee is 2.15% of the loan amount. On Rhode Island's median home of $400,000, that's approximately $8,600. Veterans with service-connected disabilities pay no funding fee.

What are closing costs on a VA loan in Rhode Island?

VA loans have lender-paid and buyer-paid closing costs. Buyers typically pay $3,800 in Rhode Island. Rhode Island's Real Estate Conveyance Tax is $2.30/$500 of sale price (approximately 0.46%), which is modest. Overall closing costs are near New England averages. Sellers can also contribute to closing costs.

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+v.toLocaleString('en-US',{minimumFractionDigits:2,maximumFractionDigits:2});};window.calcVA=function(){var price=parseFloat(document.getElementById('va-price').value)||0;var downPct=parseFloat(document.getElementById('va-down').value)||0;var rate=parseFloat(document.getElementById('va-rate').value)||0;var term=parseInt(document.getElementById('va-term').value)||30;var feePct=parseFloat(document.getElementById('va-usage').value)||2.15;var exempt=document.getElementById('va-exempt').checked;if(exempt)feePct=0;if(downPct>=5&&downPct<10)feePct=Math.max(feePct-0.5,0);if(downPct>=10)feePct=Math.max(feePct-0.9,0);var downAmt=price*(downPct/100);var baseLoan=price-downAmt;var feeAmt=baseLoan*(feePct/100);var totalLoan=baseLoan+feeAmt;var r=rate/100/12;var n=term*12;var monthly=0;if(r===0){monthly=totalLoan/n;}else{monthly=totalLoan*(r*Math.pow(1+r,n))/(Math.pow(1+r,n)-1);}var convPMIrate=0.007;var monthlyPMIsave=downPct<20?(baseLoan*convPMIrate/12):0;var totalInterest=(monthly*n)-totalLoan;var totalCost=(monthly*n)+downAmt;document.getElementById('va-down-amt').textContent=fmt(downAmt);document.getElementById('va-base-loan').textContent=fmt(baseLoan);document.getElementById('va-fee-amt').textContent=fmt(feeAmt)+' ('+feePct.toFixed(2)+'%)';document.getElementById('va-total-loan').textContent=fmt(totalLoan);document.getElementById('va-monthly').textContent=fmt(monthly);document.getElementById('va-pmi-save').textContent=fmt(monthlyPMIsave)+'/mo';document.getElementById('va-total-interest').textContent=fmt(totalInterest);document.getElementById('va-total-cost').textContent=fmt(totalCost);document.getElementById('va-result').classList.add('show');};})();