Credit Card Center Advertiser Disclosure

New Member
Posts: 3
Registered: ‎02-05-2010
0 Kudos

USDA...what are the cost out of pocket for us...closing?

Hello Everyone!

We are looking to get a USDA Guaranteed loan...hopefully soon. I am wondering what we will need out of pocket with this type of loan? Will we have to pay closing cost or will that be included in the loan?

Thanks so much!!


New Contributor
Posts: 92
Registered: ‎04-30-2010
0 Kudos

Re: USDA...what are the cost out of pocket for us...closing?

Here are my out-of-pocket costs so far:


Earnest Money

Home Inspection ($250)

Appraisal ($400)


My closing costs are included in the loan.

Starting Score: EQ 490 EX 516 TU 492
Current Score: EQ 628 EX 626 TU 668
Goal Score: at least 700, across the board!

Take the FICO Fitness Challenge
Super Contributor
Posts: 8,706
Registered: ‎09-28-2007
0 Kudos

Re: USDA...what are the cost out of pocket for us...closing?

With USDA you can include the closing costs into the mortgage if the home appraises over the sales price by enough.  So for example if the sales price is $100,000 and closing costs are $4,000 and the home appraises for $103,000, the difference of $1,000 just has to be paid by someone (you or the seller most likely).  This is a feature that is unique to USDA loans.


Otherwise expect to pay your earnest money (the amount negotiated on in the contract), appraisal fee ($300-500), a home inspection ($300-400), and then at closing it's whatever portion of the closing costs that cannot be financed into the mortgage or that are being paid by the seller (negotiated in the contract).

Mortgages (FHA, VA, USDA, Fannie, Freddie, Non-Prime) since 2002, based in Irvine, CA and lending in all 50 states

Information that is needed to determine if you qualify for a mortgage

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.