Home buyers will want to ensure they use the USDA loan payment calculator located on the right side of our website www.Usdamortgagehub.com This is a great tool that helps buyers accurately figure out monthly mortgage expenses. The USDA mortgage payment calculator includes all principal, interest, home insurance, taxes in addition to the 2016 USDA annual fee of .50%. This is the monthly mortgage insurance – PMI costs all buyers are required to pay.
Tip: home buyers can adjust the home taxes and insurance fields as they choose. In addition, please add 1% to your loan amount to account for the USDA Guaranteed fee of 1%. Example: if you are purchasing a home for $160,000 (100% financing) be sure to input $161,600 for your purchase price or loan amount.
$160,000 + 1,600 (1.0%) = $161,600
Home buyers that have questions about USDA Rural Housing loans can reach out to us by calling tel: 800-691-8826 or just submit the Quick Contact form on your screen for fast service.