USDA Loan Calculator for Texas

This calculator estimates a monthly payment on a USDA Guaranteed loan from the numbers you enter: principal and interest, USDA's upfront guarantee fee financed into the loan, USDA's annual fee, and your taxes, insurance and HOA dues. It doesn't fill in an interest rate or fee figures for you, and the result isn't a loan offer. All loans subject to credit and property approval.

How is a USDA loan payment calculated?

A USDA payment has the same parts as most mortgages, plus USDA's annual fee. This calculator adds them up in this order:

1. Base loan amount. The home price minus any down payment you enter. USDA doesn't require a down payment for eligible buyers, so the base loan can equal the price.
2. Total loan amount. The base loan plus USDA's upfront guarantee fee, which this calculator treats as financed into the loan.
3. Principal and interest. The fixed monthly payment that pays off the total loan amount over the term at the interest rate you enter, using the standard amortization formula.
4. USDA annual fee. The first year's fee, divided into twelve monthly amounts, figured the way USDA describes below.
5. Taxes, insurance and HOA. Your yearly taxes and insurance divided by twelve, plus any monthly HOA dues.

Most lenders collect taxes, insurance and the annual fee through an escrow account, so all of these usually come out of one monthly payment.

What is the USDA upfront guarantee fee?

It's a one-time fee USDA charges the lender for guaranteeing the loan, figured as a percentage of the loan amount. The lender may pass it to you, and it can be financed into the loan instead of paid at closing. Federal rules cap it (7 CFR 3555.107(g)), and USDA announces the current figure before each fiscal year in a Conditional Commitment notice. The fee that applies to your loan is the one in effect when USDA issues its Conditional Commitment, not on the day you apply or close.

What is the USDA annual fee?

The annual fee is an ongoing USDA fee, paid for the life of the loan, that lenders usually collect monthly with your payment. USDA bases it on the average scheduled unpaid balance for each loan year, taken from the original amortization schedule (7 CFR 3555.107(h); HB-1-3555, Chapter 16). This calculator follows that method: it averages the scheduled balance at the start of each of the first twelve payments, applies the fee percentage you enter and divides by twelve. Because the balance goes down every year, the fee does too; the year-by-year table shows how.

It isn't private mortgage insurance and doesn't drop off at a set amount of equity. It ends when the loan is paid off or refinanced.

Why doesn't the calculator fill in an interest rate?

Because no single figure would be accurate for you. A USDA Guaranteed loan's interest rate is set between you and the lender and depends on your credit, the property and the market on the day you lock. A number we filled in could look like an offer, so the calculator only uses the interest rate you enter. For your actual figures, Danny Nassar, NMLS 220172, will give you a Loan Estimate after you apply.

What the estimate leaves out

• Closing costs, prepaid interest and the escrow deposit you make at closing.
• Changes in your taxes or insurance after you buy.
• Annual fee changes in later years, other than the slow decline the table shows.
• Whether you qualify. The calculator doesn't check income, credit or the property.

Will I qualify for the payment I see?

The calculator shows a payment, not whether you qualify for it. USDA looks at your household income against the income limit for your Texas county, whether the home sits in an eligible area on USDA's map, and how the full payment compares with your income and other debts. Our guide to USDA loan requirements in Texas walks through each check, and the USDA loan process page explains what happens after you apply.

Frequently asked questions

Does this calculator include the USDA fees?

Yes. It adds the upfront guarantee fee to the loan amount and includes the first year of the annual fee in the monthly payment, using the percentages you enter from USDA's current fee notice.

Do I need a down payment for a USDA loan?

The program does not require a down payment for eligible buyers. You can leave the down payment field blank, or enter an amount to see how it changes the loan and payment. You'll still have closing costs to plan for.

Why might my lender's figure be different?

Your Loan Estimate uses your actual interest rate, the fees in effect for your loan, your exact taxes and insurance, and the escrow rules your lender follows. The calculator only uses what you type in, so treat it as a starting point.

Does the calculator store or send my numbers?

No. It runs in your browser and nothing you enter is stored or sent. Refreshing the page clears it.

Can I use it for a USDA refinance?

It's built for a home purchase. Refinances have their own rules for what the new loan can include; see our USDA refinance guide or ask Danny Nassar, NMLS 220172.

Talk with Danny about your Texas USDA loan

Tell Danny the county you're buying in and who lives in your household. He'll walk you through the USDA rules that apply to you and the next steps.

Call 512-743-5512Send an inquiry

All loans subject to credit and property approval.