{
  "id": "usda-loan",
  "version": "4d566b50e165",
  "status": "published",
  "name": "USDA Loan Calculator",
  "question": "What will my USDA loan payment be?",
  "summary": "Computes the monthly payment on a 30-year USDA guaranteed home loan with the 1% upfront guarantee fee and the 0.35% annual fee, plus property tax and insurance, with the full schedule.",
  "category": "finance",
  "subcategory": "loans",
  "url": "https://www.acalculator.org/finance/usda-loan-calculator",
  "markdown": "https://www.acalculator.org/finance/usda-loan-calculator.md",
  "kind": "schedule",
  "method": "Total loan = (price − down) ÷ 0.99 when the 1% fee is financed; payment = L × r ÷ (1 − (1 + r)^−360); annual fee each loan year = 0.35% × the average of its 12 scheduled balances, paid in 12 parts; tax and insurance are added.",
  "assumptions": [
    "USDA fees for fiscal year 2026: 1% upfront, 0.35% a year (unchanged since fiscal year 2017).",
    "A 30-year fixed-rate guaranteed loan; interest is charged monthly at the rate ÷ 12.",
    "County income limits and property eligibility are not checked: see the USDA eligibility site.",
    "Tax and insurance stay the same; closing costs are not included; nothing is rounded between months."
  ],
  "inputs": {
    "$schema": "https://json-schema.org/draft/2020-12/schema",
    "type": "object",
    "properties": {
      "price": {
        "title": "Home price",
        "description": "The price of the home (USDA lends up to the appraised value, plus the financed fee).",
        "type": "number",
        "x-unit": "USD",
        "minimum": 1000,
        "maximum": 10000000
      },
      "down": {
        "title": "Down payment",
        "description": "Cash you pay toward the price. USDA loans need no down payment.",
        "type": "number",
        "x-unit": "USD",
        "minimum": 0,
        "maximum": 10000000
      },
      "rate": {
        "title": "Interest rate",
        "description": "The fixed yearly rate; the monthly rate is this ÷ 12.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 20
      },
      "finance": {
        "title": "Upfront guarantee fee",
        "description": "Add the 1% guarantee fee to the loan, or pay it in cash at closing.",
        "type": "string",
        "enum": [
          "loan",
          "cash"
        ]
      },
      "tax": {
        "title": "Property tax (per year)",
        "description": "The yearly property tax as a percent of the home price.",
        "type": "number",
        "x-unit": "percent",
        "minimum": 0,
        "maximum": 10
      },
      "insurance": {
        "title": "Home insurance",
        "description": "The homeowners insurance premium.",
        "type": "number",
        "x-unit": "USD",
        "x-period": "year",
        "minimum": 0,
        "maximum": 1000000
      }
    }
  },
  "outputs": {
    "monthly": {
      "label": "Monthly payment",
      "description": "The first month’s total: principal and interest, the annual fee, property tax and insurance.",
      "format": "money"
    },
    "pi": {
      "label": "Principal and interest",
      "description": "The level monthly payment on the loan.",
      "format": "money"
    },
    "fee": {
      "label": "Annual fee a month",
      "description": "The first year’s USDA annual fee divided by 12.",
      "format": "money"
    },
    "taxes": {
      "label": "Property tax",
      "description": "Property tax for one month.",
      "format": "money"
    },
    "insurance": {
      "label": "Home insurance",
      "description": "Home insurance for one month.",
      "format": "money"
    },
    "upfront": {
      "label": "Upfront guarantee fee",
      "description": "1% of the total loan; when added to the loan, the total loan is the base loan ÷ 0.99.",
      "format": "money"
    },
    "loan": {
      "label": "Total loan amount",
      "description": "The price minus the down payment, plus the upfront fee when it is added to the loan.",
      "format": "money"
    },
    "feeTotal": {
      "label": "Total annual fees",
      "description": "All the annual fee over 30 years.",
      "format": "money"
    },
    "interest": {
      "label": "Total interest",
      "description": "All the interest over 30 years.",
      "format": "money"
    }
  },
  "defaultAnswer": {
    "inputs": {
      "price": 250000,
      "down": 0,
      "rate": 6.25,
      "finance": "loan",
      "tax": 1.1,
      "insurance": 1500
    },
    "outputs": {
      "monthly": 1982.270144837245,
      "pi": 1554.8413996697466,
      "fee": 73.26207850083175,
      "taxes": 229.16666666666669,
      "insurance": 125,
      "upfront": 2525.25,
      "loan": 252525.25,
      "feeTotal": 17204.188617342108,
      "interest": 307217.65388110926
    },
    "text": "A USDA loan of $252,525.25 at 6.25% costs $1,982.27 a month, with $73.26 of annual fee."
  },
  "examples": [
    {
      "given": {
        "price": 100000,
        "down": 0,
        "rate": 6,
        "finance": "loan"
      },
      "expect": {
        "loan": 101010.1,
        "upfront": 1010.1
      },
      "source": "USDA Handbook HB-1-3555 chapter 16 example (https://www.rd.usda.gov/sites/default/files/3555-1chapter16.pdf): $100,000 ÷ 0.99 = $101,010.10 total loan; × 1% = $1,010.10 upfront fee"
    },
    {
      "given": {
        "price": 100000,
        "down": 0,
        "rate": 6,
        "finance": "cash"
      },
      "expect": {
        "loan": 100000,
        "upfront": 1000
      },
      "source": "USDA Handbook HB-1-3555 chapter 16 example: $100,000 × 1% = $1,000.00 upfront fee paid at closing"
    },
    {
      "given": {
        "price": 250000,
        "down": 0,
        "rate": 0,
        "finance": "cash",
        "tax": 0,
        "insurance": 0
      },
      "expect": {
        "upfront": 2500,
        "pi": 694.4444444444445,
        "fee": 71.80266203703702,
        "monthly": 766.2471064814815
      },
      "source": "USDA FY 2026 fees (https://content.govdelivery.com/accounts/USDARD/bulletins/3f192a6): at 0% the balance falls $694.44 a month; the first year averages $246,180.56; × 0.35% ÷ 12 = $71.80 (hand calculation in content.mdx)"
    },
    {
      "given": {
        "price": 300000,
        "down": 10000,
        "rate": 6.5,
        "finance": "loan",
        "tax": 0,
        "insurance": 0
      },
      "expect": {
        "loan": 292929.29,
        "upfront": 2929.29,
        "pi": 1851.5123735349764,
        "fee": 85.00514257328335
      },
      "source": "USDA Handbook HB-1-3555 chapter 16 (financed fee: base ÷ 0.99) and FY 2026 fees; payment and first-year fee by the formulas in content.mdx"
    }
  ],
  "sources": [
    "USDA Rural Development, Fiscal Year 2026 Conditional Commitment Notice (1.00% upfront, 0.35% annual): https://content.govdelivery.com/accounts/USDARD/bulletins/3f192a6",
    "USDA Rural Development, HB-1-3555 Chapter 16 (upfront fee examples): https://www.rd.usda.gov/sites/default/files/3555-1chapter16.pdf",
    "Code of Federal Regulations, 7 CFR 3555.107(g) and (h) (guarantee fee and annual fee): https://www.ecfr.gov/current/title-7/section-3555.107"
  ],
  "related": [
    "fha-loan",
    "va-loan",
    "mortgage",
    "home-affordability"
  ],
  "changelog": []
}