A VA loan on a $300,000 home in Johnson City at 7% for 30 years runs about $1,996/month in principal and interest — no PMI ever. Add East Tennessee's relatively low property taxes (roughly $158/mo) and homeowners insurance (~$100/mo) and your all-in estimate is around $2,254/month. Use the calculator below for your exact numbers. Sam, a Marine Corps veteran and VA loan specialist in Johnson City, TN, reviews your real figures at no cost.
VA Loan Payment Calculator
Estimates only. Property taxes use a 0.63% annual effective rate — close for Washington and Sullivan counties. Insurance is a rough estimate of $100–130/mo. Actual rate, taxes, and insurance vary. Not a commitment to lend.
How the VA funding fee works in 2026
The VA funding fee is a one-time charge the VA collects to keep the loan program self-sustaining. It is not a fee that goes to your lender — it goes to the VA. The amount depends on how many times you've used your VA benefit and how much you put down. Most buyers roll it into the loan so there is nothing extra due at closing.
| Down Payment | First Use | Subsequent Use |
|---|---|---|
| Less than 5% | 2.15% | 3.30% |
| 5% – 9.99% | 1.50% | 1.50% |
| 10% or more | 1.25% | 1.25% |
| IRRRL (refinance) | 0.50% | 0.50% |
| Service-connected disability (any) | Exempt $0 | |
One thing I watch for: veterans sometimes miss their exemption. If your disability rating was established or increased after closing, the VA allows a refund. I check this for every veteran I work with before we lock. It is one of the things I catch that a lender who has never served might not think to ask about.
VA loans vs. FHA and conventional in the Tri-Cities
The numbers favor VA loans heavily for eligible veterans. On a $300,000 home, an FHA borrower pays about $176/month in mortgage insurance premium (MIP) — every month for the life of the loan if they put less than 10% down. A conventional borrower with 5% down pays around $150/month in PMI until they reach 20% equity. A VA borrower pays neither. That is $1,800–$2,100 per year back in your pocket.
East Tennessee property taxes — what to expect
One of the genuine financial advantages of buying in the Tri-Cities is Tennessee's low property tax burden. Washington County (Johnson City/Jonesborough) runs around $0.60–0.65 per $100 of assessed value annually. Sullivan County (Kingsport/Bristol) is in the same range. On a $300,000 home, that works out to roughly $150–165 per month — well below the national average. Carter County (Elizabethton) is even lower. These numbers shift by municipality, so I give buyers a county-specific estimate once we identify a target price range.