Estimated Monthly Payment
Your USDA Loan Totals
USDA Guarantee Fee
Included in our USDA Loan calculator is the USDA's annual mortgage insurance. The annual fee is .35%, which is $ each month for your selections. The annual guarantee fee is reflected in the estimated payment above.
Property taxes are generally estimated at 1.2% of the home's value, but vary by borrower. Based on your selection of %, your estimated property taxes are $. Annual homeowners insurance is estimated at 0.35% of the home's value, but varies by borrower. Your estimated homeowners insurance is $ based on your selection of %.
About the USDA Loan Calculator
The USDA loan calculator includes estimated taxes and insurance; however, these vary by borrower. Base estimates for property taxes are usually 1.2% of the home's value, while annual homeowners insurance is roughly 0.35% of the home's value.
USDA Loan Calculator Definitions
Amount Financed: the amount financed equals the Purchase Price (+) USDA Funding Fee (-) any selected down payment.
USDA Upfront Guarantee Fee: the USDA upfront guarantee fee, sometimes referred to as the USDA funding fee, is a one-time fee paid to the USDA. This fee can be rolled into the entire loan amount, as shown in our USDA loan calculator.
USDA Mortgage Insurance: the USDA’s annual mortgage insurance is .35% of the loan amount.
Estimated Payment: the estimated payment for the USDA loan calculator takes into account the amount financed + taxes + insurance + USDA mortgage insurance.
Estimated Down Payment: USDA loans do not require a down payment, but borrowers can also make a down payment if they desire.
Loan Term: USDA loans have the option of a 15-year or 30-year fixed rate loan.
Estimated Rate: this estimated rate is for illustrative purposes only and is based on the information you supplied. Your USDA loan rate may differ based on multiple factors. Talk with a USDA loan specialist to get a more accurate estimate for your homebuying situation.
Credit Estimate: the USDA does not have a minimum credit score requirement, but most lenders do. To use the USDA loan’s guaranteed underwriting system, borrowers must have a middle credit score of 640 or higher; however, lower scores may still be eligible.
Notice: all figures are estimates and do not represent a final loan amount or approval.