FHA Loan Calculator
FHA Loan Calculator
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FHA Mortgage Loan Details
Additional Costs
Annual property tax as % of home value
Monthly insurance premium
FHA Mortgage Insurance Premium - required for all FHA loans
If applicable
Compare Loan Terms
Loan Summary
Monthly Payment
$2,247.06
+ $739.24/mo additional costs
Total: $2986.30/mo
30 years at 7.00% APR
Loan Details
Total Cost
First Year Payment Breakdown
| Month | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $276.85 | $1,970.21 | $337,473 |
| 2 | $278.47 | $1,968.59 | $337,195 |
| 3 | $280.09 | $1,966.97 | $336,915 |
| 4 | $281.72 | $1,965.34 | $336,633 |
| 5 | $283.37 | $1,963.69 | $336,350 |
| 6 | $285.02 | $1,962.04 | $336,064 |
| 7 | $286.68 | $1,960.38 | $335,778 |
| 8 | $288.36 | $1,958.7 | $335,489 |
| 9 | $290.04 | $1,957.02 | $335,199 |
| 10 | $291.73 | $1,955.33 | $334,908 |
| 11 | $293.43 | $1,953.63 | $334,614 |
| 12 | $295.14 | $1,951.92 | $334,319 |
Early payments are mostly interest. Principal portion increases over time.
Principal vs Interest Over Time
Term Comparison
Loan Balance Over Time
🏠 FHA Loan Benefits
- •Minimum 3.5% down payment with 580+ credit score
- •Can qualify with credit scores as low as 580
- •Down payment can come from gift funds
- •Good option for first-time homebuyers
- •More lenient on credit issues than conventional loans
⚠️ Important: MIP Cannot Be Removed
Unlike conventional PMI, FHA MIP cannot be removed without refinancing if your down payment is less than 10%. With 10%+ down, MIP can be removed after 11 years.
💡 Tips
- • Minimum 3.5% down payment with 580+ credit score
- • Can qualify with credit scores as low as 580
- • MIP is required for the life of the loan if down payment < 10%
- • Good option for first-time homebuyers
- • Can use gift funds for down payment
⚠️ Important Considerations
- • MIP cannot be removed without refinancing
- • Loan limits vary by county
- • Property must meet FHA standards
- • Upfront MIP of 1.75% is typically rolled into the loan
Key Financial Terms
Understand the essential concepts behind this calculator
Frequently Asked Questions
Common questions about the FHA Loan Calculator
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⚠️ Important Disclaimer
This FHA Loan Calculator provides estimates for educational and informational purposes only. Actual results may vary significantly based on individual circumstances, market conditions, regulatory changes, and other factors beyond the scope of this calculator.
The calculations and projections provided are based on assumptions and historical data that may not reflect future performance.Past performance does not guarantee future results.
This tool is not financial advice, tax advice, legal advice, or investment advice. For personalized guidance tailored to your specific situation, please consult with qualified professionals including:
- Certified Financial Planner (CFP)
- Certified Public Accountant (CPA) for tax matters
- Licensed attorney for legal matters
- Registered Investment Advisor (RIA) for investment decisions
Data Accuracy: All data sources, statistics, and rates were verified as accurate as of October 2025. Tax rates, market conditions, and other financial data change over time. Always verify current rates and consult official sources.
No Warranties: While we strive for accuracy, we make no warranties or guarantees regarding the accuracy, completeness, or reliability of any information provided. Use this tool at your own risk.