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VA Loan

Monthly Payment ^$0
Minimum Down Payment ^$0 (0%)

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Your Monthly Estimated Payment:

Principal & Interest
Taxes
Insurance

Purchase Price:
VA Funding Fee:
Amount Financed:

Estimated Taxes & Insurance: Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your Loan Officer can help you determine property tax and insurance rates in your area.

VA Funding Fee: The VA Funding Fee is paid to the VA to help fund the program and varies depending on type of service, loan amount, down payment and subsequent VA Loan usage. This fee can be paid in cash at closing, but most borrowers choose to roll this cost into their monthly payments. The VA Funding Fee is waived for Veterans entitled to VA compensation for a service-connected disability and surviving spouses of Veterans who died in service or as a result of a service-connected disability.

Amount Financed: Purchase Price (-) Down Payment (+) VA Funding Fee

30-yr Fixed: Estimated Market Rate

What's a VA loan?

$0 down home loan for U.S. veterans, active duty service members, and widowed military spouses

VA Loans are reserved for qualified U.S. Military and spouses.
Most lenders look for a minimum credit score of 660.
Take a closer look at VA Loan eligibility requirements →

USDA Loan

Monthly Payment ^$0
Down Payment ^$0 (0%)

+ See full payment breakdown

Your Monthly Estimated Payment:

Principal & Interest
Taxes
Insurance
Annual Fee

Purchase Price:
USDA Funding Fee:
Amount Financed:

Estimated Taxes & Insurance: Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.

Annual Fee: The USDA Annual Fee is 0.35% of the loan amount and is paid to the USDA to compensate mortgage lenders should a mortgage go into default. This fee is paid at closing and borrowers typically choose to finance it into the loan. The USDA Annual Fee is lumped into your monthly payment and is paid for the life of the loan.

USDA Funding Fee: The USDA Funding Fee is paid to the USDA to help fund the program. The USDA Funding fee is paid at closing and typically financed into the loan.

Amount Financed: Purchase Price (-) Down Payment (+) USDA Funding Fee

30-yr Fixed: Estimated Market Rate

What's a USDA loan?

$0 down home loan for rural property owners

A credit score minimum of 660 is a common benchmark for most USDA lenders.
This option for rural and suburban buyers also has income, property, and location requirements.
Take a closer look at USDA eligibility requirements →

FHA Loan

Monthly Payment ^$0
Down Payment ^$0 (0%)

+ See full payment breakdown

Your Monthly Estimated Payment:

Principal & Interest
Taxes
Insurance
Annual MIP

Purchase Price:
Upfront MIP:
Amount Financed:

Estimated Taxes & Insurance: Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.

Annual MIP: The Annual MIP ranges from 0.45% to 1.05% depending on loan term, loan amount and down payment. However, for most FHA borrowers, the Annual MIP is 0.85% of the loan amount. The Annual MIP can last for the life of the loan, or be removed after 11 years if the original down payment is 10% or more.

Upfront MIP: The Upfront MIP, sometimes referred to as the FHA funding fee, is 1.75% of the loan amount. This fee is due at closing and is typically financed into the entire loan amount to reduce out of pocket costs.

Amount Financed: Purchase Price (-) Down Payment (+) Upfront MIP

30-yr Fixed: Estimated Market Rate

What's an FHA loan?

Low down payment and low credit home loan ideal for first time home buyers

To buy with 3.5% down payment, you'll need a credit score of at least 580.
Lenders typically require a down payment of at least 10% for credit scores under 580.
Take a closer look at FHA eligibility requirements →

Conventional Loan

Monthly Payment ^$0
Down Payment ^$0 (0%)

+ See full payment breakdown

Your Monthly Estimated Payment:

Principal & Interest
Taxes
Insurance
PMI

Purchase Price:
Amount Financed:

Estimated Taxes & Insurance: Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.

PMI: The PMI (Private Mortgage Insurance) is a mortgage lenders' protection in the event of a default. PMI is paid monthly as part of your mortgage payment to the lender. Once a borrower has paid the equivalent of the 20% down payment, PMI can be removed from the monthly mortgage payment.

30-yr Fixed: Estimated Market Rate

What's a conventional loan?

Home loan for borrowers that have a down payment of at least 5%

Conventional loans generally require a down payment of at least 5%.
Lenders generally require a minimum credit score of 580 for a conventional loan.

*Down payment below 20% will require PMI(private mortgage insurance)

Note: ComparisonCalculator© provides a broad look at your monthly payment across various home loan products. To get a personalized quote from a trusted home loan specialist select a loan product and get matched with a home lender today.

Loan Product Breakdown

VA USDA FHA Conv

VA Loan Basics

A VA loan is backed by the Department of Veterans Affairs and is designed to help U.S. veterans, active duty service members, and widowed military spouses buy a home. This type of loan is an attractive option because it's pretty easy to qualify for and doesn't require a down payment.

VA Eligibility Guidelines (Must meet at least one of these guidelines)

Served 90 consecutive days of active service during wartime, or
Served 181 days of active service during peacetime, or
More than 6 years of service in the National Guard or Reserves, or
Spouse of a service member who has died in the line of duty or as a result of a service-related disability

Minimum Down Payment

0% ($0)

Typical Minimum Credit Score

660

VA Lenders

USDA Loan Basics

A USDA home loan is a zero down payment mortgage for eligible rural and suburban homebuyers. USDA loans are issued through the USDA loan program, also known as the USDA Rural Development Guaranteed Housing Loan Program, by the United States Department of Agriculture.

USDA Eligibility Guidelines

U.S. citizenship or permanent residency
Ability to prove creditworthiness, typically with a credit score of at least 660
Stable and dependable income
Adjusted household income is equal to or less than 115% of the area median income

Minimum Down Payment

0% ($0)

Typical Minimum Credit Score

660

USDA Lenders

FHA Loan Basics

An FHA loan is a mortgage that's insured by the Federal Housing Administration (FHA). They are popular especially among first time home buyers because they allow down payments of 3.5% for credit scores of 580+.

FHA Eligibility Guidelines

Have a valid Social Security number
Be a lawful U.S. resident
Stable and dependable income
Make a down payment of at least 3.5%

Minimum Down Payment

3.5%

Typical Minimum Credit Score

580

FHA Lenders

Conventional Mortgage Basics

A conventional loan is a type of mortgage loan that is not insured or guaranteed by the government. Instead, the loan is backed by private lenders, and its insurance is usually paid by the borrower.

Eligibility Guidelines

Steady income that proves you can make your monthly mortgage payments on time
Make a down payment of at least 5%^*

Minimum Down Payment

5%^*

Typical Minimum Credit Score

620

^* Some conventional lenders offer as low as 3% down payment although credit scores determine eligibility.

Conventional Lenders

DISCLAIMER: The figures above are based upon debt-to-income (DTI) ratio which is a ratio of total monthly debt payments (housing expense, installment debts, and so on) to gross monthly income. Mortgage lenders have determined their acceptable ratio which is used as a guide. Most lenders will review all other credit factors including DTI. Calculations by this tool are believed to be accurate, yet are not guaranteed. Further review by lenders is necessary to obtain an exact qualification.

Compare Top 4 Home Loans

Conventional, FHA, USDA, and VA

My Loan Information

My Home Loan Options

VA Loan

USDA Loan

FHA Loan

Conventional Loan