Keyword focus: fha loan mortgage calculator
FHA Loan Mortgage Calculator
Understand how FHA mortgage insurance and flexible credit requirements shape your payment.
Pre-fill the calculator with FHA-style inputs to compare against conventional loans.
FHA loans open the door for buyers with modest down payments or limited credit history. Use this guide to see how upfront and annual mortgage insurance premiums affect your budget.
What to review
- Factor in upfront and annual mortgage insurance premiums (MIP).
- Compare 3.5% down FHA payments to 5% conventional loans.
- Check the debt-to-income guidance most FHA lenders follow.
Quick tips
- Boost your credit score
- Even though FHA accepts lower scores, a score above 640 can unlock better rates and lower MIP.
- Budget for UFMIP
- Upfront MIP is 1.75% of the loan amount. Decide whether to finance it or pay at closing to manage total costs.
- Plan for recertification
- Annual MIP can fall off when you reach 11 years with 10% down or the loan-to-value hits 78%.
Common questions
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What is the minimum FHA down payment?
Most borrowers qualify for 3.5% down with a credit score of 580 or higher. The calculator shows the difference versus larger down payments.
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Can I roll closing costs into the loan?
Some costs can be financed, but the total must stay within FHA county loan limits. Test different balances to stay compliant.
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Do I need reserves for FHA?
Reserves are not always required, but multi-unit purchases may need one to three months of payments. Add them to your cash-to-close plan.