The USDA loan comes with a couple of primary fees: a 1% upfront guarantee fee due at closing and an annual 0.35% mortgage insurance fee that’s part of your monthly payment.
However, weighing these fees against the significant benefits of USDA loans, such as competitive interest rates and the possibility of no down payment, is essential. If you have any questions about which loan type is best for you, one of our Loan Officers will be happy to help you.