There 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.
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.
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.
.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)
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.