The USDA Mortgage is meant to spur homeownership in pre-designated rural and underdeveloped areas. Take advantage of a 0% down-payment with this program!
USDA Home Loans
Luxury-level mortgage guidance built on strategy, trust, and long-term financial empowerment.
Benefits of a USDA loan
- 100% financing: That’s right! This program offers 100% financing for qualifying members.
- First time buyer friendly:Â USDA Rural Loans can be used by first-time buyers and repeat home buyers alike.
- No homeowner counseling required: Unlike some other mortgage programs, the USDA program doesn’t require a homeowner counseling course to qualify.
USDA loan eligibility requirements
- Ability to prove creditworthiness, typically with a credit score of at least 640
- Stable and dependable income
- A willingness to repay the mortgage – generally 12 months of no late payments or collections
- Adjusted household income is equal to or less than 115% of the area median income
- Property serves as the primary residence
- Property is located in a qualified rural area
Check out what your monthly payment could be by using our USDA Mortgage Calculator...
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!
Principal & Interest (P&I)
$
Annual Guarantee Fee
$
Taxes & HOA
$
Homeowners Insurance
$
Purchase Price
Home Value
$
- Down Payment
$
Current Mortgage Balance
$
+ Cash Out
$
+ Upfront Guarantee Fee
$
Total Loan Amount
New Loan Amount
$
Home Equity After Cash Out
$
Upfront Guarantee Fee
$
Estimated Taxes & Insurance
Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.
Annual Guarantee Fee
The USDA Annual Fee is 0.35% of the loan amount and is paid to the USDA to compensate mortgage lenders should a mortgage go into default. This fee is paid at closing and borrowers typically choose to finance it into the loan. The USDA Annual Fee is lumped into your monthly payment and is paid for the life of the loan.
USDA Funding Fee / Upfront Guarantee Fee
The USDA Funding Fee or Upfront Guarantee Fee is paid to the USDA to help fund the program. The USDA Funding fee is paid at closing and typically financed into the loan. The USDA Funding Fee is 1.0% of the total loan amount.
Amount Financed
Purchase Price (-) Down Payment (+) Upfront Guarantee Fee
Estimated Payment
$ /mo
Loan amount
$
Down payment
$
Cash Out
$
Home Equity After Cashout
$
Interest rate
Loan term
Taxes & insurance included?
Property tax
Homeowner's insurance
$
Upfront guarantee fee
$
Annual guarantee fee rate
$
Annual guarantee fee
$ /mo
HOA dues
$
Payment Breakdown
Amortization
Principal vs. Interest
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan.
Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
- Principal payments: $$240,000 (the amount borrowed)
- Interest payments: $$297,554 (the cost of borrowing)
Get started by using one of our FREE tools!
Check Out Our Mortgage Calculators
Access our top-rated mortgage calculators to expertly assess your financing options, compare various loan types, and make informed decisions for your home buying journey.
General Mortgage Payment
Calculator
See what your monthly payment could be with our general repayment mortgage calculator.
Affordability
Calculator
Assess how much home you can afford based on your income, expenses, and desired down payment.
Early Payoff
Calculator
See how making extra payments can help you pay off your mortgage faster and save on interest.
Rent Vs Buy
Calculator
Compare the costs of renting versus buying a home to determine the best financial decision for your situation.
Seller Net Profit
Calculator
See how much you could make from your home sale with our Seller Net Profit Calculator.
Rate BuydownCalculator
Check out how much you can save with a seller-paid rate buydown.
HELOC
Calculator
Estimate your credit limit and monthly payments with our HELOC Calculator!
Mortgage Comparison
Calculator
Compare different mortgage options side by side to find the best fit for your financial needs.
Refinance ComparisonCalculator
Evaluate the potential savings and costs associated with refinancing your existing mortgage.
DSCR Investor
Calculator
See what your investor ratio is with our DSCR calculator.
Adjustable Rate Mortgage
Calculator
Determine your potential monthly payments and interest costs for an adjustable-rate mortgage over time.
VACalculator
Estimate your monthly payments and total costs for a loan backed by the Department of Veterans Affairs.
Jumbo
Calculator
Calculate your monthly payments and total costs for a jumbo mortgage that exceeds conforming loan limits.
FHA
Calculator
Determine your potential monthly payments and total costs for a Federal Housing Administration loan.
ConventionalCalculator
See the monthly payment and total cost for a conventional mortgage loan.
USDA
Calculator
Calculate the costs and monthly payments associated with a USDA Rural Development loan.
203k Renovation
Calculator
Analyze your debt service coverage ratio to evaluate the profitability of an investment property.
