Government & Specialty Mortgage Calculators
Compare FHA, VA, USDA, conventional and jumbo mortgage scenarios. Explore how down payment requirements, mortgage insurance, guarantee fees, funding fees, loan limits and program eligibility may affect the cost of financing a home.
Featured Government & Specialty Mortgage Calculators
Different mortgage programs can produce very different upfront and monthly costs. Use these tools to compare financing structures before deciding which loan program best fits your situation.
FHA Loan Calculator
Estimate an FHA mortgage payment including principal, interest, estimated upfront and annual mortgage insurance, taxes and insurance.
Calculator Coming SoonVA Loan Calculator
Estimate VA mortgage payments and explore how the VA funding fee and down payment assumptions may affect total financing.
Calculator Coming SoonUSDA Loan Calculator
Estimate USDA mortgage payments and applicable upfront and annual guarantee fees for qualifying financing scenarios.
Calculator Coming SoonConventional Loan Calculator
Estimate conventional mortgage payments and compare different down payments, PMI assumptions, interest rates and loan terms.
Calculator Coming SoonJumbo Loan Calculator
Estimate payments for mortgage amounts above applicable conforming loan limits using customizable financing assumptions.
Calculator Coming SoonFour Factors That Can Change Your Mortgage Choice
Interest rate matters, but mortgage programs can also differ in how much cash you need upfront and how ongoing loan costs are calculated.
Down Payment
Minimum down payment requirements can differ considerably among FHA, VA, USDA, conventional and jumbo financing.
Insurance & Fees
Mortgage insurance, guarantee fees and funding fees can affect both upfront cash requirements and monthly costs.
Eligibility
Some programs have military-service, property-location, income or other eligibility requirements.
Loan Limits
Loan size and local lending limits can influence whether a conventional or jumbo structure is appropriate.
Common Mortgage Program Differences
FHA
- Lower down payment options may be available
- Mortgage insurance generally applies
- Flexible qualification characteristics
- FHA loan limits apply
VA
- Eligibility requirements apply
- Zero-down financing may be available
- No traditional monthly PMI
- VA funding fee may apply
USDA
- Property-location requirements apply
- Income limits may apply
- Zero-down financing may be available
- Guarantee fees generally apply
Conventional
- Broad range of loan structures
- PMI may apply below certain equity levels
- Conforming limits can apply
- Strong credit may improve pricing
Jumbo
- Designed for larger loan amounts
- Stricter underwriting may apply
- Larger reserves may be required
- Terms vary substantially by lender
Recommended Mortgage Program Comparison Path
Start with your financial position, then compare loan programs based on eligibility, required cash and total monthly cost.
Estimate Your Home-Buying Budget
Determine a realistic purchase-price and monthly-payment range before comparing individual mortgage programs.
Identify Programs You May Qualify For
Review FHA, VA, USDA, conventional and jumbo eligibility requirements to narrow the field.
Compare Monthly Costs
Include principal, interest, mortgage insurance, guarantee fees, taxes and homeowners insurance where applicable.
Compare Cash Required at Closing
Evaluate down payment, program fees and closing expenses rather than looking only at the monthly payment.
The Lowest Down Payment Is Not Always the Lowest-Cost Mortgage
Mortgage programs solve different borrower needs. A program requiring less cash upfront may include mortgage insurance or program-specific fees that affect the long-term cost of the loan.
Comparing the complete financing structure can provide a more useful picture than simply choosing the loan with the lowest advertised rate or smallest down payment.
Related Mortgage Program Guides
These supporting topics form the natural educational cluster for government-backed and specialty mortgage financing.
Frequently Asked Questions
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. It is commonly used by borrowers seeking lower down payment options or more flexible qualification characteristics than some conventional programs.
Who may qualify for a VA loan?
VA loan eligibility is generally based on qualifying military service or another eligible status recognized by the Department of Veterans Affairs. Lender qualification requirements also apply.
Do USDA loans require a down payment?
Eligible USDA loan programs may provide 100% financing, but borrower income, property location and other program requirements must be satisfied.
What is a conventional mortgage?
A conventional mortgage is not insured or guaranteed by a federal government housing agency. Conventional loans may be conforming or non-conforming depending on the loan.
What is a jumbo mortgage?
A jumbo mortgage generally exceeds applicable conforming loan limits and may have different credit, reserve, income and down-payment requirements.
Which mortgage program should I compare first?
Start with the programs for which you appear eligible, then compare monthly payment, required cash, insurance, fees and long-term borrowing cost.