USDA Loan Payment Calculator
Monthly Payment: 0
USDA Loan Payment Calculator
The USDA Loan Payment Calculator is an essential tool designed to help homebuyers estimate their monthly mortgage payments when using a USDA Rural Development Loan. With features like zero down payment and reduced insurance costs, this calculator gives a clear breakdown of what you can expect to pay each month—making it easier to plan your homeownership journey.
What is a USDA Loan?
A USDA loan is a government-backed mortgage program offered by the U.S. Department of Agriculture to assist low-to-moderate-income borrowers in eligible rural and suburban areas. With benefits such as no down payment, low interest rates, and affordable mortgage insurance, USDA loans make homeownership more accessible.
Why Use the USDA Loan Payment Calculator?
This calculator allows you to see a complete picture of your monthly mortgage obligations under the USDA loan program. It helps you:
- Calculate monthly payments including principal, interest, property taxes, homeowners insurance, and USDA-specific fees.
- Factor in the USDA upfront guarantee fee and annual fee to get an accurate total payment.
- Compare different loan terms and interest rates to determine what best suits your budget.
- Make well-informed decisions before applying for financing.
Key Inputs
To receive a precise estimate, enter:
- Loan Amount or Home Price: Total cost of the home you're buying.
- Interest Rate: Your expected annual percentage rate (APR).
- Loan Term: Typically 30 years for USDA loans.
- Upfront Guarantee Fee: Usually 1% of the loan amount (can be rolled into the loan).
- Annual Fee: Generally 0.35% of the remaining loan balance.
- Estimated Taxes and Insurance: Monthly cost of property taxes and homeowner’s insurance.
Who Should Use This Calculator?
- Homebuyers seeking USDA loan eligibility.
- Buyers purchasing in USDA-approved rural or suburban areas.
- Real estate professionals and lenders working with first-time buyers.
- Anyone needing a reliable estimate of USDA mortgage payments.
Benefits of Using This Calculator
- Delivers a complete monthly payment estimate, including all USDA-specific costs.
- Helps identify homes within your budget.
- Supports smarter planning with clearer financial expectations.
- Enables confident decision-making before applying for a USDA mortgage.