Same home, four loan types

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Lowest monthly paymentVA: $2,049

If you qualify for VA, it has the lowest payment here and no monthly mortgage insurance.

Conventional$2,1855% down, $136 more

FHA$2,2075% down, $157 more

VA$2,0495% down, lowest

USDA$2,1665% down, $117 more

	Conventional	FHA	VA	USDA
Rate	6.75%	6.57%	6.39%	6.61%
Loan amount	$285,000	$289,988	$289,275	$287,850
Upfront fee	None	$4,988	$4,275	$2,850
Mortgage insurance	$95	$119	None	$84
How long it lasts	About 12 years	Life of loan	None	Life of loan
Interest over 30 years	$380,462	$374,676	$361,439	$374,651

Monthly payment includes taxes and insurance. Rates by loan type use the average difference from conventional in mid-October 2026: VA 0.36, FHA 0.18 and USDA 0.14 percentage points lower (Optimal Blue, via FRED). VA assumes first use with no fee exemption; USDA assumes an eligible area and income. These are example rates, not offers.

The payment on one home with each loan type, using each program's own rules and its typical rate.

How this tool works

If you qualify for a VA loan, it is often the best mortgage available to you. VA loans have no down payment, no monthly mortgage insurance, typically the lowest rates, limited closing costs and flexible qualifying. This tool shows the payment for each program side by side, with FHA, VA and USDA rates set by their typical difference from conventional (mid-October 2026). Check the box to use one rate for all four and compare the program rules alone.

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The four main loan types

Loans it explains

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