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USDA Loan Calculator

USDA home loan logoThis USDA mortgage and closing cost calculator will estimate the loan amount for eligible home buyers, including the USDA funding fee, and the monthly loan payment; including real estate taxes, home insurance, and monthly mortgage insurance (also called PMI). Simply enter the sales price, choose the down payment, and interest rate on the USDA loan and click calculate. Click outside the box after entering a value or using one of the drop down boxes.
 USDA Frequently Asked Questions


  USDA Loan Calculator
   
  Sales Price
  Appraised Value
  Down Payment  
  Acquisition Amount
   
  Base Loan Amount  
  USDA Guarantee Fee    
  Total Loan Amount  
   
  Down Payment
  Closing Costs
  Escrow & Prepaid Costs
  Total purchase cost
   
  LESS:
  Earnest Money Deposit  
  Seller Assistance  
  Cash required at settlement
 
  USDA Monthly Payment Calculator
 
  Interest rate  
  Annual Hm Insurance  
  Annual Real Estate Taxes  
  MIP | PMI
  Condo | Association Fee
  PAY MONTHLY

Rotating question markFrequently Asked Questions About USDA Loans

Q. What are USDA home loans?
A. The USDA home loan program is a zero down payment mortgage that is backed by the United States Department of Agriculture.

The USDA loan was created to help low to moderate-income home buyers purchase homes in designated rural areas across the United States. The USDA home loans do not require a down payment, and the home seller is permitted to pay a large percentage of the buyer's closing costs. The subject home must be located in a approved area. USDA loan applicants must meet the typical income, credit, employment, and cash savings requirements.

Q. What are the benefits of a USDA loan?
A. The benefits of a USDA home loan include:

  •  no down payment requirement;
  • allowable seller paid closing costs up to 6% of the sales price;
  • reasonable interest rates and;
  • affordable mortgage insurance

Q. Are USDA loans good?
A. USDA loans are very good because the overall costs are less than most other mortgages.

Q. How much can I borrow?
A. Believe it or not, the USDA loan program does not have a lending limit, however, the applicant must meet the debt to income limits, which in turn limits the amount of money that can be borrowed.