Estimate the monthly payment on a USDA loan — a zero-down mortgage for eligible buyers in rural and many suburban areas, backed by USDA Rural Development. Set the down payment to zero to model a true USDA-style payment.
No — the USDA Rural Development guaranteed loan program allows eligible borrowers in qualifying rural and suburban areas to buy with 0% down. Set the down payment field to zero to model it.
The home must be in a USDA-eligible area and your household income must fall under the local limit. Check property and income eligibility on the official USDA Rural Development site before you apply.
USDA loans carry a one-time upfront guarantee fee plus a small annual fee (similar to mortgage insurance). Approximate the annual fee with the PMI rate field to see your total payment.