FHA Home Loan Calculator
Estimate your FHA mortgage payment, MIP, cash needed, closing costs, interest and payoff time.
Calculate Your FHA Mortgage
Taxes, Insurance & Housing Costs
Closing Costs & Cash to Close
FHA Loan Limit & Extra Payments
Your FHA Mortgage Estimate
FHA Loan Limit Check
Monthly FHA Payment Breakdown
| Payment Component | Monthly Amount |
|---|---|
| Principal & Interest | $0 |
| Property Taxes | $0 |
| Homeowners Insurance | $0 |
| FHA MIP | $0 |
| HOA | $0 |
| Maintenance | $0 |
| Total Monthly Housing Cost | $0 |
Estimated FHA Cash to Close
| Cash Requirement | Estimated Amount |
|---|---|
| Down Payment | $0 |
| Closing Costs | $0 |
| Prepaid Taxes & Insurance | $0 |
| Other Cash Costs | $0 |
| Seller / Lender Credits | $0 |
| Estimated Cash Needed | $0 |
FHA Loan Summary
| Home Price | $0 |
| Down Payment | 0% |
| Down Payment Amount | $0 |
| Base FHA Loan | $0 |
| Upfront MIP | $0 |
| Total Starting Loan | $0 |
| Interest Rate | 0% |
| Loan Term | 0 years |
| Annual MIP Rate | 0% |
Total FHA Mortgage Cost
Extra FHA Mortgage Payment Savings
FHA Annual Amortization Schedule
| Year | Starting Balance | Principal Paid | Interest Paid | Ending Balance |
|---|
First 12 FHA Mortgage Payments
| Month | Payment | Principal | Interest | Remaining Balance |
|---|
Copyable Results
FHA Home Loan Calculator
This free FHA home loan calculator helps estimate the cost of buying a home with an FHA-insured mortgage. It calculates the estimated principal and interest payment, down payment, upfront mortgage insurance premium, monthly FHA mortgage insurance, property taxes, homeowners insurance, HOA fees and other housing expenses.
Unlike a basic mortgage calculator that only shows principal and interest, this FHA mortgage calculator gives you a broader estimate of the monthly housing cost and cash needed to purchase a home.
How to Use the FHA Home Loan Calculator
Enter your home purchase price, expected down payment, mortgage interest rate and loan term. Then enter your estimated property taxes, homeowners insurance, HOA fees and other housing expenses.
You can also enter estimated closing costs, prepaid expenses, seller credits and the applicable FHA loan limit. The calculator then produces an estimate of your monthly payment, cash needed at closing, loan balance, interest cost and amortization schedule.
How Much Down Payment Do You Need for an FHA Loan?
Eligible FHA borrowers may commonly qualify for a 3.5% minimum down payment when they satisfy applicable FHA and lender requirements. A larger down payment reduces the amount borrowed and may reduce the amount of interest paid over time.
The amount you should put down depends on your budget, available savings, closing costs and emergency reserves. Avoid using every dollar of available savings just to increase your down payment.
What Is FHA Upfront MIP?
FHA upfront mortgage insurance premium, commonly called UFMIP, is an FHA mortgage insurance charge. Depending on the loan structure, it may be financed into the mortgage.
When upfront MIP is financed, it increases the starting loan balance. A higher balance can also increase the interest paid over the life of the mortgage.
What Is FHA Monthly MIP?
FHA financing can also include an ongoing mortgage insurance premium collected through monthly payments. The applicable MIP rate and duration depend on the characteristics of the loan and current FHA requirements.
Use the MIP assumptions supplied by your lender for the most accurate estimate.
What Is Included in an FHA Mortgage Payment?
- Principal
- Mortgage interest
- FHA mortgage insurance
- Property taxes
- Homeowners insurance
- HOA fees
- Maintenance expenses
Not every homeowner will have every expense. Enter zero for costs that do not apply.
FHA Cash to Close Calculator
Your cash requirement can be significantly higher than your down payment. Closing costs, prepaid taxes, prepaid insurance, inspections and other transaction expenses may increase the amount needed at closing.
This calculator combines those costs with your down payment and subtracts the seller or lender credits you enter.
FHA Loan Limit
FHA loan limits vary depending on location, property type and other applicable program rules. Limits can also change over time. Enter the current applicable FHA loan limit supplied by an authoritative FHA or lender source.
FHA Mortgage With Extra Payments
Making additional principal payments can reduce the mortgage balance faster. A lower balance can reduce the amount of interest that accumulates over time.
Use the extra monthly payment field to compare the standard payoff schedule with an accelerated payoff scenario.
FHA vs Conventional Mortgage
FHA and conventional mortgages have different qualification requirements, mortgage insurance structures and costs. The better option depends on your financial circumstances, property and long-term plans.
When comparing mortgages, consider the interest rate, down payment, mortgage insurance, closing costs, monthly payment and total interest rather than focusing on one number.
How to Reduce Your FHA Mortgage Cost
- Compare mortgage rates offered by multiple lenders.
- Compare different loan terms.
- Consider a larger down payment if it fits your budget.
- Review lender fees and closing costs carefully.
- Understand FHA mortgage insurance costs.
- Consider extra principal payments when appropriate.
- Compare FHA financing with other mortgage options for which you qualify.
Frequently Asked Questions
Eligible borrowers may commonly qualify with a 3.5% down payment under applicable FHA requirements. Final eligibility depends on FHA rules and lender requirements.
Depending on the applicable FHA loan structure, upfront MIP may be financed into the mortgage. Financing the premium increases the starting loan balance.
FHA financing generally involves mortgage insurance requirements. The applicable upfront and ongoing premiums depend on the loan characteristics and current FHA rules.
Property taxes are separate from principal and interest but may be collected through an escrow account. This calculator includes them in the estimated monthly housing cost when you enter an amount.
Homeowners insurance is separate from principal and interest but may be included in an escrow payment. Enter your estimated annual premium to include it in the monthly estimate.
The answer depends on your down payment, interest rate, loan term, FHA MIP, taxes, insurance and other costs. Enter your numbers above for a personalized estimate.
Extra principal payments can potentially reduce the mortgage balance and interest cost. Check your loan documents and lender guidance for applicable payment procedures.