USDA Home Loan Mortgage Calculator

Our USDA mortgage calculator helps you estimate the costs of your USDA home loan, including your mortgage insurance premium.

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USDA loans help first-time home buyers — and we’re not just talking about farmers and ranchers. The agency’s Rural Development Program covers a lot of ground, from rural acres that are fit to farm to suburban lots perfect for porches.

While no-down-payment loans are the main draw, low interest rates and even grants for qualified home buyers sweeten the deal.

Our USDA mortgage calculator can help you run the numbers to see if the home you’ve got your eye on fits your monthly budget.

No mortgage calculator will get down to the dime on what your monthly payment will truly be — too many variables are subject to change. Your homeowners insurance premium might end up being more than you expect, or maybe you’ll get a slightly different interest rate than the one you’re inputting.

But the NerdWallet USDA loan payment tool is a true PITI mortgage calculator, which means we include principal and interest. We take the process a step further and consider taxes and insurance, too.

The amounts factored in for taxes and insurance are estimated, but it’s a lot more accurate than not considering them at all.

Even more importantly, we add the mortgage insurance premium — the USDA calls it a guarantee fee — into the payment calculation. The USDA requires a monthly insurance premium of 0.35% of the cost of your total loan, to help the government defray the cost of loans that default.

First off, a big pat on the back for all the research you’re doing. Using our USDA mortgage calculator helps you confidently decide just .

Step-by-step, here’s how the NerdWallet USDA home loan calculator works:

The results will show your total monthly cost and the total cost of the loan over the term you selected.

You can also choose to break down the monthly or total costs in detail. Now that you have a good idea of what your loan will cost, you’ll be ready to shop for the for your particular situation.

There are a few other considerations:

Many mortgage calculators consider only principal and interest. Here is what’s behind the curtain with the NerdWallet USDA mortgage payment calculator:

The best use of the USDA mortgage calculator is the reality check it provides. If it’s showing a monthly mortgage payment outside of your comfort zone, you can:

If you’re loving the results you see from the USDA mortgage calculator, you’ll also want to know what could push your monthly payment higher.

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