Monthly cost breakdown

Total cost breakdown

Monthly payment:

How is my monthly payment calculated?

Principal and Interest

MIP Rate

Property Tax

Homeowners Insurance

Total payment:

How is my total payment calculated?

MIP rate

Upfront MIP (1.75%)

Years will you pay MIP

Principal and Interest

MIP Rate

Property Tax

Homeowners Insurance

Estimated Payoff Apr 2054

Interested to check the rates in County?

Mortgage rates can change weekly, daily, and even hourly, and are affected by both factors outside your control and those within your control.

View Live Rates

FHA Loan Calculator

First-time homebuyer? Don’t have a 20% down payment? An FHA loan could be right for you.

FHA Loan Eligibility

The Federal Housing Administration (FHA) insures loans on single family and multi-family homes with down payments as low as 3.5% to 10% making them attractive to first-time home buyers. FHA Loans have requirements for minimum credit scores, down payments, and debt-to-income (DTI) ratios as follows:

FICO® score at least 580 = 3.5% down payment.
FICO® score between 500 and 579 = 10% down payment.
Debt-to-Income Ratio : less than 43% is preferred

There are a few additional requirements:

Borrower(s) must have steady income and proof of employment
The home is required to be used as the borrower’s primary residence
Private mortgage insurance (PMI) is required

FHA Loan Terms

Our FHA loan calculator can help you quickly estimate the monthly mortgage payments for your new home, including taxes, insurance and PMI. Here’s the info you’ll need to enter into the mortgage calculator:

Home Price

Enter the purchase price of the home you want to buy. You can also enter the amount that you think you will offer.

Down Payment

Enter the amount you have saved for a down payment. For FHA loans this will be at least 3.5%

Interest Rate

Enter a realistic interest rate. Base interest rates will vary by lender, your credit score, and your loan term.

Loan Term

FHA loans are typically for 30 years, but you can also select the 15 year term to see what your options are.

Property Tax

Enter your estimated property tax, if you know it. This is the assessed value of the home times the local tax rate.

Home Insurance

Enter your estimated home insurance cost, if you know it. This is typically based on home value and location.

Monthly Private Mortgage Insurance

Most FHA loans require a down payment under 20%, so you will have to pay PMI, (.5% to 2% of the loan amount.)

HOA Dues

If you buy a home in a neighborhood with a homeowners association (HOA), you'll have to pay monthly or annual dues.

Additional Principal Payment

If you plan on paying extra on your mortgage each month, enter the amount to apply towards your loan principal.

Additional Free Tools

Use our free mortgage calculator tools to estimate your monthly mortgage payments based on your unique loan scenario. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.