Home > Financial >FHA Loan Calculator

FHA Loan Calculator

Home Price
Down Payment
Term
Years
Interest Rate
%
Property Tax
Home Insurance
/year
Extra Cost
/year
Calculated Results
Monthly Loan Pay 1,040.54
Monthly Tax250.00
Monthly Home Insurance41.67
Monthly MIP137.30
Monthly Total1,469.51
Home Price200,000.00
Upfront MIP3,333.75
Down Payment9,500.00
Loan Principal193,833.75
Total Interest180,761.18
Related
Mortgage Calculator VA Loan Calculator Auto Loan Calculator

Payment schedule

Year Beginning Balance Interest Payment Principal Payment Ending Balance
1193,833.759,626.742,859.76190,973.99
Month1193,833.75807.64232.90193,600.85
Month2193,600.85806.67233.87193,366.98
Month3193,366.98805.70234.85193,132.13
Month4193,132.13804.72235.82192,896.31
Month5192,896.31803.73236.81192,659.50
Month6192,659.50802.75237.79192,421.71
Month7192,421.71801.76238.78192,182.92
Month8192,182.92800.76239.78191,943.14
Month9191,943.14799.76240.78191,702.37
Month10191,702.37798.76241.78191,460.58
Month11191,460.58797.75242.79191,217.79
Month12191,217.79796.74243.80190,973.99
2190,973.999,480.433,006.07187,967.93
Month13190,973.99795.72244.82190,729.18
Month14190,729.18794.70245.84190,483.34
Month15190,483.34793.68246.86190,236.48
Month16190,236.48792.65247.89189,988.59
Month17189,988.59791.62248.92189,739.67
Month18189,739.67790.58249.96189,489.71
Month19189,489.71789.54251.00189,238.71
Month20189,238.71788.49252.05188,986.66
Month21188,986.66787.44253.10188,733.56
Month22188,733.56786.39254.15188,479.41
Month23188,479.41785.33255.21188,224.20
Month24188,224.20784.27256.27187,967.93
3187,967.939,326.643,159.86184,808.06
Month25187,967.93783.20257.34187,710.59
Month26187,710.59782.13258.41187,452.17
Month27187,452.17781.05259.49187,192.68
Month28187,192.68779.97260.57186,932.11
Month29186,932.11778.88261.66186,670.45
Month30186,670.45777.79262.75186,407.70
Month31186,407.70776.70263.84186,143.86
Month32186,143.86775.60264.94185,878.92
Month33185,878.92774.50266.05185,612.87
Month34185,612.87773.39267.15185,345.72
Month35185,345.72772.27268.27185,077.45
Month36185,077.45771.16269.39184,808.06
4184,808.069,164.973,321.53181,486.54
Month37184,808.06770.03270.51184,537.56
Month38184,537.56768.91271.63184,265.92
Month39184,265.92767.77272.77183,993.16
Month40183,993.16766.64273.90183,719.25
Month41183,719.25765.50275.04183,444.21
Month42183,444.21764.35276.19183,168.02
Month43183,168.02763.20277.34182,890.68
Month44182,890.68762.04278.50182,612.18
Month45182,612.18760.88279.66182,332.52
Month46182,332.52759.72280.82182,051.70
Month47182,051.70758.55281.99181,769.71
Month48181,769.71757.37283.17181,486.54
5181,486.548,995.043,491.46177,995.07
Month49181,486.54756.19284.35181,202.19
Month50181,202.19755.01285.53180,916.66
Month51180,916.66753.82286.72180,629.94
Month52180,629.94752.62287.92180,342.02
Month53180,342.02751.43289.12180,052.90
Month54180,052.90750.22290.32179,762.58
Month55179,762.58749.01291.53179,471.05
Month56179,471.05747.80292.75179,178.31
Month57179,178.31746.58293.97178,884.34
Month58178,884.34745.35295.19178,589.15
Month59178,589.15744.12296.42178,292.73
Month60178,292.73742.89297.66177,995.07
6177,995.078,816.413,670.09174,324.98
Month61177,995.07741.65298.90177,696.18
Month62177,696.18740.40300.14177,396.04
Month63177,396.04739.15301.39177,094.65
Month64177,094.65737.89302.65176,792.00
Month65176,792.00736.63303.91176,488.09
Month66176,488.09735.37305.17176,182.92
Month67176,182.92734.10306.45175,876.47
Month68175,876.47732.82307.72175,568.75
Month69175,568.75731.54309.01175,259.74
Month70175,259.74730.25310.29174,949.45
Month71174,949.45728.96311.59174,637.87
Month72174,637.87727.66312.88174,324.98
7174,324.988,628.643,857.86170,467.12
Month73174,324.98726.35314.19174,010.79
Month74174,010.79725.04315.50173,695.30
Month75173,695.30723.73316.81173,378.49
Month76173,378.49722.41318.13173,060.36
Month77173,060.36721.08319.46172,740.90
Month78172,740.90719.75320.79172,420.11
Month79172,420.11718.42322.12172,097.99
Month80172,097.99717.07323.47171,774.52
Month81171,774.52715.73324.81171,449.71
Month82171,449.71714.37326.17171,123.54
Month83171,123.54713.01327.53170,796.01
Month84170,796.01711.65328.89170,467.12
8170,467.128,431.264,055.24166,411.88
Month85170,467.12710.28330.26170,136.86
Month86170,136.86708.90331.64169,805.22
Month87169,805.22707.52333.02169,472.20
Month88169,472.20706.13334.41169,137.79
Month89169,137.79704.74335.80168,801.99
Month90168,801.99703.34337.20168,464.79
Month91168,464.79701.94338.60168,126.19
Month92168,126.19700.53340.02167,786.17
Month93167,786.17699.11341.43167,444.74
Month94167,444.74697.69342.86167,101.89
Month95167,101.89696.26344.28166,757.60
Month96166,757.60694.82345.72166,411.88
9166,411.888,223.794,262.71162,149.17
Month97166,411.88693.38347.16166,064.73
Month98166,064.73691.94348.61165,716.12
Month99165,716.12690.48350.06165,366.06
Month100165,366.06689.03351.52165,014.55
Month101165,014.55687.56352.98164,661.57
Month102164,661.57686.09354.45164,307.11
Month103164,307.11684.61355.93163,951.19
Month104163,951.19683.13357.41163,593.77
Month105163,593.77681.64358.90163,234.87
Month106163,234.87680.15360.40162,874.48
Month107162,874.48678.64361.90162,512.58
Month108162,512.58677.14363.41162,149.17
10162,149.178,005.704,480.80157,668.37
Month109162,149.17675.62364.92161,784.25
Month110161,784.25674.10366.44161,417.81
Month111161,417.81672.57367.97161,049.85
Month112161,049.85671.04369.50160,680.34
Month113160,680.34669.50371.04160,309.30
Month114160,309.30667.96372.59159,936.72
Month115159,936.72666.40374.14159,562.58
Month116159,562.58664.84375.70159,186.88
Month117159,186.88663.28377.26158,809.62
Month118158,809.62661.71378.83158,430.79
Month119158,430.79660.13380.41158,050.37
Month120158,050.37658.54382.00157,668.37
11157,668.377,776.454,710.05152,958.33
Month121157,668.37656.95383.59157,284.78
Month122157,284.78655.35385.19156,899.60
Month123156,899.60653.75386.79156,512.80
Month124156,512.80652.14388.40156,124.40
Month125156,124.40650.52390.02155,734.37
Month126155,734.37648.89391.65155,342.73
Month127155,342.73647.26393.28154,949.45
Month128154,949.45645.62394.92154,554.53
Month129154,554.53643.98396.56154,157.96
Month130154,157.96642.32398.22153,759.75
Month131153,759.75640.67399.88153,359.87
Month132153,359.87639.00401.54152,958.33
12152,958.337,535.484,951.02148,007.31
Month133152,958.33637.33403.22152,555.11
Month134152,555.11635.65404.90152,150.22
Month135152,150.22633.96406.58151,743.64
Month136151,743.64632.27408.28151,335.36
Month137151,335.36630.56409.98150,925.38
Month138150,925.38628.86411.69150,513.70
Month139150,513.70627.14413.40150,100.30
Month140150,100.30625.42415.12149,685.17
Month141149,685.17623.69416.85149,268.32
Month142149,268.32621.95418.59148,849.73
Month143148,849.73620.21420.33148,429.39
Month144148,429.39618.46422.09148,007.31
13148,007.317,282.175,204.32142,802.98
Month145148,007.31616.70423.84147,583.46
Month146147,583.46614.93425.61147,157.85
Month147147,157.85613.16427.38146,730.47
Month148146,730.47611.38429.16146,301.31
Month149146,301.31609.59430.95145,870.35
Month150145,870.35607.79432.75145,437.60
Month151145,437.60605.99434.55145,003.05
Month152145,003.05604.18436.36144,566.69
Month153144,566.69602.36438.18144,128.51
Month154144,128.51600.54440.01143,688.50
Month155143,688.50598.70441.84143,246.67
Month156143,246.67596.86443.68142,802.98
14142,802.987,015.915,470.59137,332.40
Month157142,802.98595.01445.53142,357.46
Month158142,357.46593.16447.39141,910.07
Month159141,910.07591.29449.25141,460.82
Month160141,460.82589.42451.12141,009.70
Month161141,009.70587.54453.00140,556.70
Month162140,556.70585.65454.89140,101.81
Month163140,101.81583.76456.78139,645.03
Month164139,645.03581.85458.69139,186.34
Month165139,186.34579.94460.60138,725.74
Month166138,725.74578.02462.52138,263.22
Month167138,263.22576.10464.44137,798.78
Month168137,798.78574.16466.38137,332.40
15137,332.406,736.035,750.47131,581.93
Month169137,332.40572.22468.32136,864.07
Month170136,864.07570.27470.27136,393.80
Month171136,393.80568.31472.23135,921.57
Month172135,921.57566.34474.20135,447.36
Month173135,447.36564.36476.18134,971.19
Month174134,971.19562.38478.16134,493.03
Month175134,493.03560.39480.15134,012.87
Month176134,012.87558.39482.15133,530.72
Month177133,530.72556.38484.16133,046.55
Month178133,046.55554.36486.18132,560.37
Month179132,560.37552.33488.21132,072.17
Month180132,072.17550.30490.24131,581.93
16131,581.936,441.826,044.68125,537.25
Month181131,581.93548.26492.28131,089.64
Month182131,089.64546.21494.33130,595.31
Month183130,595.31544.15496.39130,098.91
Month184130,098.91542.08498.46129,600.45
Month185129,600.45540.00500.54129,099.91
Month186129,099.91537.92502.63128,597.29
Month187128,597.29535.82504.72128,092.57
Month188128,092.57533.72506.82127,585.74
Month189127,585.74531.61508.93127,076.81
Month190127,076.81529.49511.05126,565.75
Month191126,565.75527.36513.18126,052.57
Month192126,052.57525.22515.32125,537.25
17125,537.256,132.566,353.93119,183.31
Month193125,537.25523.07517.47125,019.78
Month194125,019.78520.92519.63124,500.15
Month195124,500.15518.75521.79123,978.36
Month196123,978.36516.58523.96123,454.40
Month197123,454.40514.39526.15122,928.25
Month198122,928.25512.20528.34122,399.91
Month199122,399.91510.00530.54121,869.37
Month200121,869.37507.79532.75121,336.61
Month201121,336.61505.57534.97120,801.64
Month202120,801.64503.34537.20120,264.44
Month203120,264.44501.10539.44119,725.00
Month204119,725.00498.85541.69119,183.31
18119,183.315,807.486,679.01112,504.30
Month205119,183.31496.60543.94118,639.37
Month206118,639.37494.33546.21118,093.16
Month207118,093.16492.05548.49117,544.67
Month208117,544.67489.77550.77116,993.90
Month209116,993.90487.47553.07116,440.83
Month210116,440.83485.17555.37115,885.46
Month211115,885.46482.86557.69115,327.78
Month212115,327.78480.53560.01114,767.77
Month213114,767.77478.20562.34114,205.42
Month214114,205.42475.86564.69113,640.74
Month215113,640.74473.50567.04113,073.70
Month216113,073.70471.14569.40112,504.30
19112,504.305,465.777,020.73105,483.57
Month217112,504.30468.77571.77111,932.53
Month218111,932.53466.39574.16111,358.37
Month219111,358.37463.99576.55110,781.82
Month220110,781.82461.59578.95110,202.87
Month221110,202.87459.18581.36109,621.51
Month222109,621.51456.76583.79109,037.72
Month223109,037.72454.32586.22108,451.51
Month224108,451.51451.88588.66107,862.85
Month225107,862.85449.43591.11107,271.73
Month226107,271.73446.97593.58106,678.16
Month227106,678.16444.49596.05106,082.11
Month228106,082.11442.01598.53105,483.57
20105,483.575,106.587,379.9298,103.66
Month229105,483.57439.51601.03104,882.55
Month230104,882.55437.01603.53104,279.02
Month231104,279.02434.50606.05103,672.97
Month232103,672.97431.97608.57103,064.40
Month233103,064.40429.44611.11102,453.29
Month234102,453.29426.89613.65101,839.64
Month235101,839.64424.33616.21101,223.43
Month236101,223.43421.76618.78100,604.65
Month237100,604.65419.19621.3699,983.30
Month23899,983.30416.60623.9499,359.36
Month23999,359.36414.00626.5498,732.81
Month24098,732.81411.39629.1598,103.66
2198,103.664,729.017,757.4990,346.17
Month24198,103.66408.77631.7897,471.88
Month24297,471.88406.13634.4196,837.47
Month24396,837.47403.49637.0596,200.42
Month24496,200.42400.84639.7195,560.71
Month24595,560.71398.17642.3794,918.34
Month24694,918.34395.49645.0594,273.29
Month24794,273.29392.81647.7493,625.56
Month24893,625.56390.11650.4392,975.12
Month24992,975.12387.40653.1592,321.98
Month25092,321.98384.67655.8791,666.11
Month25191,666.11381.94658.6091,007.51
Month25291,007.51379.20661.3490,346.17
2290,346.174,332.128,154.3882,191.79
Month25390,346.17376.44664.1089,682.07
Month25489,682.07373.68666.8789,015.20
Month25589,015.20370.90669.6488,345.56
Month25688,345.56368.11672.4387,673.12
Month25787,673.12365.30675.2486,997.88
Month25886,997.88362.49678.0586,319.83
Month25986,319.83359.67680.8885,638.96
Month26085,638.96356.83683.7184,955.25
Month26184,955.25353.98686.5684,268.69
Month26284,268.69351.12689.4283,579.26
Month26383,579.26348.25692.2982,886.97
Month26482,886.97345.36695.1882,191.79
2382,191.793,914.938,571.5773,620.22
Month26582,191.79342.47698.0881,493.71
Month26681,493.71339.56700.9880,792.73
Month26780,792.73336.64703.9180,088.82
Month26880,088.82333.70706.8479,381.99
Month26979,381.99330.76709.7878,672.20
Month27078,672.20327.80712.7477,959.46
Month27177,959.46324.83715.7177,243.75
Month27277,243.75321.85718.6976,525.06
Month27376,525.06318.85721.6975,803.37
Month27475,803.37315.85724.6975,078.68
Month27575,078.68312.83727.7174,350.96
Month27674,350.96309.80730.7573,620.22
2473,620.223,476.399,010.1164,610.11
Month27773,620.22306.75733.7972,886.43
Month27872,886.43303.69736.8572,149.58
Month27972,149.58300.62739.9271,409.66
Month28071,409.66297.54743.0070,666.66
Month28170,666.66294.44746.1069,920.56
Month28269,920.56291.34749.2169,171.36
Month28369,171.36288.21752.3368,419.03
Month28468,419.03285.08755.4667,663.57
Month28567,663.57281.93758.6166,904.96
Month28666,904.96278.77761.7766,143.19
Month28766,143.19275.60764.9465,378.24
Month28865,378.24272.41768.1364,610.11
2564,610.113,015.429,471.0855,139.03
Month28964,610.11269.21771.3363,838.78
Month29063,838.78265.99774.5563,064.23
Month29163,064.23262.77777.7762,286.46
Month29262,286.46259.53781.0161,505.44
Month29361,505.44256.27784.2760,721.17
Month29460,721.17253.00787.5459,933.64
Month29559,933.64249.72790.8259,142.82
Month29659,142.82246.43794.1158,348.71
Month29758,348.71243.12797.4257,551.28
Month29857,551.28239.80800.7456,750.54
Month29956,750.54236.46804.0855,946.46
Month30055,946.46233.11807.4355,139.03
2655,139.032,530.869,955.6445,183.39
Month30155,139.03229.75810.8054,328.23
Month30254,328.23226.37814.1753,514.06
Month30353,514.06222.98817.5752,696.49
Month30452,696.49219.57820.9751,875.52
Month30551,875.52216.15824.3951,051.13
Month30651,051.13212.71827.8350,223.30
Month30750,223.30209.26831.2849,392.02
Month30849,392.02205.80834.7448,557.28
Month30948,557.28202.32838.2247,719.06
Month31047,719.06198.83841.7146,877.35
Month31146,877.35195.32845.2246,032.13
Month31246,032.13191.80848.7445,183.39
2745,183.392,021.5110,464.9934,718.40
Month31345,183.39188.26852.2844,331.11
Month31444,331.11184.71855.8343,475.28
Month31543,475.28181.15859.3942,615.89
Month31642,615.89177.57862.9841,752.91
Month31741,752.91173.97866.5740,886.34
Month31840,886.34170.36870.1840,016.16
Month31940,016.16166.73873.8139,142.35
Month32039,142.35163.09877.4538,264.90
Month32138,264.90159.44881.1037,383.80
Month32237,383.80155.77884.7836,499.02
Month32336,499.02152.08888.4635,610.56
Month32435,610.56148.38892.1634,718.40
2834,718.401,486.1011,000.4023,718.00
Month32534,718.40144.66895.8833,822.51
Month32633,822.51140.93899.6132,922.90
Month32732,922.90137.18903.3632,019.54
Month32832,019.54133.41907.1331,112.41
Month32931,112.41129.64910.9130,201.50
Month33030,201.50125.84914.7029,286.80
Month33129,286.80122.03918.5128,368.29
Month33228,368.29118.20922.3427,445.95
Month33327,445.95114.36926.1826,519.77
Month33426,519.77110.50930.0425,589.72
Month33525,589.72106.62933.9224,655.81
Month33624,655.81102.73937.8123,718.00
2923,718.00923.3011,563.2012,154.80
Month33723,718.0098.82941.7222,776.28
Month33822,776.2894.90945.6421,830.64
Month33921,830.6490.96949.5820,881.06
Month34020,881.0687.00953.5419,927.52
Month34119,927.5283.03957.5118,970.01
Month34218,970.0179.04961.5018,008.51
Month34318,008.5175.04965.5117,043.01
Month34417,043.0171.01969.5316,073.48
Month34516,073.4866.97973.5715,099.91
Month34615,099.9162.92977.6314,122.28
Month34714,122.2858.84981.7013,140.59
Month34813,140.5954.75985.7912,154.80
3012,154.80331.7012,154.800.00
Month34912,154.8050.64989.9011,164.90
Month35011,164.9046.52994.0210,170.88
Month35110,170.8842.38998.169,172.72
Month3529,172.7238.221,002.328,170.39
Month3538,170.3934.041,006.507,163.90
Month3547,163.9029.851,010.696,153.20
Month3556,153.2025.641,014.905,138.30
Month3565,138.3021.411,019.134,119.17
Month3574,119.1717.161,023.383,095.79
Month3583,095.7912.901,027.642,068.15
Month3592,068.158.621,031.921,036.22
Month3601,036.224.321,036.220.00
What is a FHA Loan?

An FHA loan, Federal Housing Administration Loan, is a mortgage issued by an FHA-approved lender and insured by the Federal Housing Administration (FHA), which is part of HUD (United States Department of Housing and Urban Development). FHA loan is designed for low-to-moderate income borrowers, FHA loans require lower minimum down payments and credit scores than many conventional loans.

  • Low down payments: Your down payment can be as low as 3.5% of the purchase price. Available on 1-4 unit properties. Your down payment can come from savings, a financial gift from a family member or a grant for down-payment assistance.
  • Easy credit qualifying: You’ll need a credit score of at least 580. If your credit score falls between 500 and 579, you can still get an FHA loan provided you can make a 10% down payment.
  • Low closing costs: When you buy a home, you may be responsible for certain out-of-pocket expenses such as loan origination fees, attorney fees and appraisal costs. One of the advantages of an FHA mortgage is that the seller, home builder or lender can pay some of these closing costs on your behalf. Especially if the seller is having a hard time finding a buyer, they might just offer to help you out at closing time as a deal sweetener.
⇑ Back to Top
How FHA Loans Work?

The Federal Housing Administration doesn’t actually lend you money for the mortgage. Instead, you get a loan from an FHA-approved lender, like a bank or lending institutions. They will evaluate your qualifications for the loan and the FHA guarantees the loan. You pay for that guarantee through mortgage insurance premium payments to the FHA. Your lender bears less risk because the FHA will pay a claim to the lender if you default on the loan.

An FHA loan requires you pay two types of mortgage insurance premiums – an Upfront Mortgage Insurance Premium (UFMIP) and an Annual MIP (paid monthly).

  • The Upfront MIP is equal to 1.75% of the base loan amount (as of 2019). You pay this at the closing or it can be rolled into the loan. The payments are deposited into an escrow account set up by the U.S. Treasury Department, and the funds are used to make mortgage payments in case you default on the loan.
  • The Annual MIP payments range from 0.45% to 1.05% of the base loan amount, depending on the loan amount, the loan length, and the original loan-to-value ratio (LTV). The typical Annual MIP cost is usually 0.85% of the loan amount.
Types of FHA Loans
In addition to FHA traditional loans popular with first-time home buyers for a primary residence. The FHA offers a few other loans programs, including:
  • Home Equity Conversion Mortgage (HECM): A reverse mortgage program that helps seniors aged 62 and above convert the equity in their homes to cash. You choose how to withdraw the funds, either as a fixed monthly amount or a line of credit, or a combination of both.
  • FHA 203K Renovation Loan: The FHA 203k Loan helps home loan customers who want to repair or remodel a primary residence at the time of purchase or refinance. The lender rolls the money to finance (or refinance) a home and complete repairs into a single home loan. You can get a fixed rate with only a 3.5% down payment. It can make a big difference if you don’t have a lot of cash on hand after making a down payment.
  • FHA EEM Loan: FHA’s Energy Efficient Mortgage is a similar concept to renovation loan, but it is aimed at upgrades that can lower your utility bills, such as new insulation or the installation of new solar or wind energy systems. The idea is that energy-efficient homes have lower operating costs, which lower bills and make more income available for mortgage payments.
  • Section 245 (a) loan: Also named as FHA Graduated Payment Mortgage(GPM) Loans for borrowers with rising incomes. The loans that are tailored for first time home buyers or young families. These likely homebuyers are often not in a position that would warrant them being able meet the many upfront and monthly costs that are involved. Under the Section 245(a) program, the Graduated Payment Mortgage starts with lower initial monthly payments that gradually increase over time, and the Growing Equity Mortgage has scheduled increases in monthly principal payments that result in shorter loan terms.