Loan Programs

USDA Home Loans

A zero-down financing option designed to make homeownership accessible in eligible rural and suburban communities.

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USDA Calculator

Is a USDA loan right for you?

The USDA Mortgage is meant to spur homeownership in pre-designated rural and underdeveloped areas. Take advantage of a 0% down-payment with this program!

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Benefits of a USDA loan

  • 100% financing: That’s right! This program offers 100% financing for qualifying members.
  • First time buyer friendly: USDA Rural Loans can be used by first-time buyers and repeat home buyers alike.
  • No homeowner counseling required: Unlike some other mortgage programs, the USDA program doesn’t require a homeowner counseling course to qualify.

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USDA loan eligibility requirements

  • Ability to prove creditworthiness, typically with a credit score of at least 640
  • Stable and dependable income
  • A willingness to repay the mortgage – generally 12 months of no late payments or collections
  • Adjusted household income is equal to or less than 115% of the area median income
  • Property serves as the primary residence
  • Property is located in a qualified rural area

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Check out what your monthly payment could be by using our USDA Mortgage Calculator…

Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!

  • Purchase Loan
  • Interest Rate Reduction Refinance
  • Cash Out Refinance
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$50,000 $2 Million
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$0 $1 Million
$
$50,000 $2 Million
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0% 80%
Loan Term
%
0% 20%
Credit Score
Advanced (optional)
$
%
0% 5%
$
%
0% 15%
$ /month
Principal & Interest (P&I)
$
Annual Guarantee Fee
$
Taxes & HOA
$
Homeowners Insurance
$
Loan Totals:
Purchase Price Home Value $
- Down Payment $
Current Mortgage Balance $
+ Cash Out $
+ Upfront Guarantee Fee $
Total Loan Amount New Loan Amount $
Home Equity After Cash Out $
Other Costs:
Upfront Guarantee Fee $
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 Guarantee 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 / Upfront Guarantee Fee The USDA Funding Fee or Upfront Guarantee 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. The USDA Funding Fee is 1.0% of the total loan amount.
Amount Financed Purchase Price (-) Down Payment (+) Upfront Guarantee Fee
Save & Email Results
Estimated Payment $ /mo
Loan amount
$
Down payment
$
Cash Out
$
Home Equity After Cashout
$
Interest rate
Loan term
Taxes & insurance included?
Property tax
Homeowner's insurance
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Upfront guarantee fee
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Annual guarantee fee rate
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Annual guarantee fee
$ /mo
HOA dues
$
Payment Breakdown
Amortization Schedule Breakdown
Our detailed amortization schedule breaks down your mortgage payments, showing how they are split between interest and principal over the life of your loan. Note: The actual monthly payment may be higher than what is shown here, as this schedule does not account for variable costs such as property taxes and home insurance, which are often included in your total mortgage payment.
  • Principal payments: $$240,000 (the amount borrowed)
  • Interest payments: $$297,554 (the cost of borrowing)

MORTGAGE TOOLS

Your Mortgage Options, Made Clear.

MORTGAGE SOLUTIONS

Find the Financing That

Fits Your Future.

Explore home loan programs designed to support your homeownership goals, whether you’re purchasing, refinancing, or planning your next move.

Conventional

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FHA

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VA

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Jumbo

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Renovation

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USDA

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No Income / No Employment DSCR Investor Loans

Buy Investment Property with Non-traditional Income.
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12/24 Month Bank Statement

Serving OUR Community’s Self-Employed Borrowers with Smarter Loan Options.
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No Income / No Employment Loan Primary Residence Loan

Empowering OUR Community with Flexible, Asset-Based Mortgage Solutions.
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ITIN Mortgage Loan Program

Homeownership Made Possible for Non-U.S. Citizens Using an ITIN.
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P&L-Only Mortgage Loan Program

Streamlined Approval for Self-Employed Borrowers Using Just a P&L.
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1099 Mortgage Loan Program

Flexible Home Financing for 1099 Earners — Less Paperwork, More Possibility.
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NAF Cash

NAF Cash Can Turn You Into a Cash Buyer.
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One Time Close Construction

Build your dream home with an OTC Jumbo loan designed for big visions.
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Down Payment Assistance

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Medical Professionals Mortgage Program

Designed for Doctors, Dentists & Healthcare Heroes in North Carolina — and Beyond
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Free Tools

Check Out Our Other Mortgage Calculators

Access our top-rated mortgage calculators to expertly assess your financing options, compare various loan types, and make informed decisions for your home buying journey.

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Assess how much home you can afford based on your income, expenses, and desired down payment.

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Seller Net Profit Calculator

See how much you could make from your home sale with our Seller Net Profit Calculator.

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Rate Buydown Calculator

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HELOC Calculator

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Mortgage Comparison Calculator

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Refinance Comparison Calculator

Evaluate the potential savings and costs associated with refinancing your existing mortgage.

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DSCR Investor Calculator

See what your investor ratio is with our DSCR calculator.

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Adjustable Rate Mortgage Calculator

Determine your potential monthly payments and interest costs for an adjustable-rate mortgage over time.

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VA Calculator

Estimate your monthly payments and total costs for a loan backed by the Department of Veterans Affairs.

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Jumbo Calculator

Calculate your monthly payments and total costs for a jumbo mortgage that exceeds conforming loan limits.

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FHA Calculator

Determine your potential monthly payments and total costs for a Federal Housing Administration loan.

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Conventional Calculator

See the monthly payment and total cost for a conventional mortgage loan.

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USDA Calculator

Calculate the costs and monthly payments associated with a USDA Rural Development loan.

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203k Renovation Calculator

Estimate your monthly payment for a loan that combines your home purchase or refinance with eligible renovation costs.

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General Mortgage Payment Calculator

See what your monthly payment could be with our general repayment mortgage calculator.

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YOUR NEXT MOVE STARTS HERE

Let’s find your path home.

Buying, refinancing, or exploring your options? Connect with Greg Downs at New American Funding for personal guidance and home loan options that fit your goals.

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