USDA Loan Calculator

USDA Loan Payment CalculatorThere are dozens of loan payment calculators online but few focus on USDA Loans. For those of you interested in the Rural Housing Program (USDA), we’ve taken the time to give you some specific insights on how to accurately estimate your USDA payment with our calculator. Most online mortgage loan calculators don't provide accurate payments, but if you follow the steps below you'll be able to estimate your loan payment accurately.

Other USDA Resources: 

    Other Helpful Resources:

    DID YOU KNOW?  A USDA Loan payment is typically comprised of 4 components: the loan payment (P&I or principal and interest), Property Taxes, Homeowner’s Insurance (HOI) and Mortgage Insurance (Guarantee Fee)). Our USDA loan calculator will help you estimate all four aspects.

    USDA Loan Calculator Tips:

    1. Loan amount – Assuming you're taking advantage of the USDA NO MONEY down option, this will be your purchase price PLUS 1% for the USDA Guarantee Fee. So if you’re buying a $200,000 home, your loan amount would be $202,000. The USDA does not have a max loan amount so you can borrow as much as you can qualify for.
    2. Property value – purchase price of the home
    3. Interest rate – rates can be dependent on credit score. Give one of our licensed loan advisors a call and we can provide you some quotes and personal options. As of today, rates range anywhere from 4.375%-5.000% on a 30-year fixed in most instances, but will vary based on credit, term and discount points charged.
    4. Loan term – the most common term is 30 years, but there are options for 25, 20, 15 and 10. The term itself is the most important factor in determining your payment.
    5. Property tax – your county or parish assesses property taxes and they will vary with each home.

    For Property Tax estimates in your state, see below the calculator to find your states average tax rate. It’s based off a percentage of the purchase price.

    1. Property Insurance (Homeowner’s Insurance) – if you have good credit and buying a newer home use .45% of your loan amount for a decent estimate. Use .55% if you’re buying a older home or have fair/poor credit (low-to-mid 600’s).
    2. PMI (Private Mortgage Insurance) – use .35%. USDA Mortgage insurance has two charges: (1) an upfront guarantee fee that gets rolled into the loan, and (2) an annual guarantee fee (or PMI) that gets added to your monthly payment.


    While using a calculator to estimate your mortgage payment is a great first step, once you’re ready to look at the home loans that best fit your goals, apply online or give one of our trusted experts a call to help guide you through the process.



    Average Property Tax rates for USDA Mortgage Loan Calculator

    .6% per year – Alabama, Arizona, Arkansas, California, Colorado, DC, Delaware, Hawaii, Idaho, Kentucky, Louisiana, Mississippi, Montana, New Mexico, South Carolina, Tennessee, Utah, Virginia, West Virginia, Wyoming 

    1.15% per year – Alaska, Florida, Georgia, Indiana, Maryland, Massachusetts, Minnesota, Missouri, North Carolina, North Dakota, Oklahoma, Oregon, Washington

    1.45% per year – Iowa, Kansas, Maine, Ohio, Pennsylvania, South Dakota

    1.75% per year – Michigan, Nebraska, New York, Rhode Island, Texas, Vermont

    2% per year – Connecticut, New Hampshire, Wisconsin

    2.4% per year – Illinois & New Jersey (some Texas cities are here as well)

    Calculate Your Estimated USDA Loan Payment

    Find out if you qualify for a USDA loan today


    Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.