USDA Loan Mortgage Payment Calculator

by Brian Mayer on July 24, 2012

USDA Mortgage Payment Calculator

I get asked quite a bit how to calculate the payment for a USDA loan. Because there are only 30 year loans and fixed MI its pretty easy. With this calculator you can not add the up front MI so you must add 2% to the loan amount manually.

Add 2% to loan amount for up-front MI as an example for a $100,000 loan make the amount $102,000 / $250,000 = $255,000 / $350,000 = $357,000

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USDA Mortgage Payment Calculator

One great thing about a USDA loan is that your credit score only has a minimal impact on your interest rate. There is a small penalty for scores under 640 and a bonus for scores over 700. Your interest rate should never vary more than .25% based on your credit score.

USDA Mortgage Payment Calculator

If you are considering a USDA loan and have questions or are in need of a second opinion I am here 443-624-9398

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