FHA vs. VA vs. USDA Loan Calculator
Precision calculations for MIP, VA funding fees, and USDA guarantee fees updated for 2026.
Same-price loan comparison
| Scenario | FHA | VA | USDA | Conventional 5% down |
|---|---|---|---|---|
| Down payment | $12,250 | $0 | $0 | $17,500 |
| Starting monthly payment | $2,737 | $2,668 | $2,745 | $2,652 |
| Financed upfront fee | $5,911 | $7,525 | $3,500 | None modeled |
Insurance and guarantee fees are estimated using scheduled declining balances. FHA MIP generally lasts 11 years at original LTV of 90% or less, otherwise the mortgage term. Eligibility and exemptions require lender verification.
FHA Loan Parameters
Amount: $12,250 • Required: 3.5%
FHA, VA and USDA mortgage cost comparison
Quick answer: Government-backed mortgages differ in eligibility, down payment, upfront charges and recurring mortgage insurance or guarantee fees. Compare the complete monthly payment and cash needed—not only the advertised down payment.
FHA
Model the FHA upfront mortgage insurance premium and annual MIP using current program rules and the applicable county loan limit.
VA
Eligible borrowers may have no required down payment, but a VA funding fee can apply unless exempt. Taxes, insurance and closing costs still matter.
USDA
Eligibility depends on property location, household income and other rules. Upfront and annual guarantee fees may apply.
Scenarios to calculate
- Compare identical purchase prices across FHA, VA, USDA and conventional assumptions.
- Test financed versus cash-paid upfront fees.
- Include taxes, insurance and recurring program charges.
Next: use the dedicated FHA calculator, use the dedicated VA calculator, review low-down-payment options.
Government Loans — Frequently Asked Questions
What is the minimum down payment for an FHA loan?
In 2026, the minimum down payment for an FHA loan is 3.5%, provided you have a credit score of at least 580. If your credit score is between 500 and 579, you are required to put down 10%.
Do VA loans require mortgage insurance?
No. VA loans do not require any monthly mortgage insurance (PMI or MIP), which drastically lowers your monthly payment. However, they do require a one-time upfront VA Funding Fee, which is typically rolled into the loan balance. Veterans receiving VA disability are exempt from this fee.
Can anyone get a USDA loan?
No. USDA loans have two strict requirements: geographical and financial. The home must be located in an eligible rural or suburban area designated by the USDA. Additionally, your total household income cannot exceed 115% of the median income for that specific area.
Continue your financial research
Use these closely related USFinNexus guides and tools to plan your next step.
Related guides
Related calculators
- Mortgage CalculatorEstimate payment, interest and amortization.
- Down Payment CalculatorPlan savings milestones for a home purchase.
- Home Affordability CalculatorEstimate a home price that fits your budget.
Illustrative comparison scenarios
| Use / down payment | Funding fee | Fee on $300,000 base loan |
|---|---|---|
| First use, under 5% | 2.15% | $6,450 |
| Subsequent use, under 5% | 3.30% | $9,900 |
| Either use, 5% to under 10% | 1.50% | $4,500 |
| Either use, 10% or more | 1.25% | $3,750 |
| Eligible fee exemption | 0% | $0 |
Educational scenarios, not quotes, approvals, investment forecasts or tax advice. See methodology and limitations.