How to compare FHA, USDA and VA loans
FHA, USDA and VA loans are the three main government-backed paths to a first home, and they differ most in what you pay up front and what you keep paying every month. This calculator prices all three on the same home price, rate and term so the trade-off is visible in one table.
FHA charges an upfront mortgage insurance premium plus an annual MIP collected monthly. USDA charges an upfront guarantee fee plus a smaller annual fee. VA charges a one-time funding fee and no ongoing mortgage insurance at all, which is why its monthly total is usually the lowest for eligible borrowers.
All of these percentages are set by agency notice and change over time, and the VA funding fee also varies with down payment and whether it is your first use. Every fee field is editable so you can match the current handbook or your loan estimate. Figures reflect 2026 program structure.
Eligibility is a separate question from cost: USDA needs an eligible rural address and income within limits, VA needs a certificate of eligibility. The table is an estimate excluding taxes, insurance and closing costs, so compare official loan estimates before choosing.
Frequently Asked Questions
No. USDA loans require an eligible rural property and income within the area limit, and VA loans require a certificate of eligibility based on military service. FHA has the broadest eligibility of the three.
Both allow 100% financing for eligible borrowers, so the table finances the upfront fee on top of the purchase price. FHA requires a minimum down payment, which is why its loan amount starts lower.
No. It covers principal, interest and the ongoing mortgage insurance or guarantee fee only. Property taxes, hazard insurance and any HOA dues are added to the escrowed payment your lender quotes.