FHA Loan Calculator

Calculate FHA loan payments and understand the benefits of government-backed mortgages.

FHA Loan Benefits

  • Low Down Payment: As little as 3.5% down
  • Flexible Credit: Credit scores as low as 580
  • Government Backing: Insured by HUD
  • Competitive Rates: Often below conventional rates
  • Gift Funds Allowed: Down payment can be gifted

FHA Requirements

  • Loan Limits: Varies by county (check local limits)
  • Primary Residence: Must be your main home
  • Mortgage Insurance: Required for life of loan if down payment < 10%
  • Property Standards: Must meet FHA property requirements
  • Debt-to-Income: Generally 43% or less

FHA Mortgage Insurance Premiums (MIP)

Upfront MIP

Rate:1.75% of loan amount
Payment:At closing or financed

Annual MIP

Rate:0.45% - 1.05% annually
Payment:Monthly with mortgage