fha home loan calculator: estimate payments and compare scenarios

What it does

An fha home loan calculator helps estimate your monthly payment on an FHA-insured mortgage by modeling principal, interest, mortgage insurance, property taxes, and HOA dues. Adjust loan amount, term, down payment, and rate to see how each choice shifts the total. Use it to run what-if scenarios: 30-year versus 15-year, or 3.5% down versus a larger contribution.

Key considerations

Remember, FHA adds an upfront mortgage insurance premium (often 1.75%) many borrowers finance, plus annual MIP paid monthly. Local loan limits still govern. Credit, debt-to-income, and reserves matter. Good calculators also estimate closing costs and show how points or seller credits change cash to close and payback time.

How to use it

1. Enter price and your planned down payment.
2. Pick term; input a realistic interest rate.
3. Add taxes, insurance, HOA, and financed upfront MIP.
4. Review PITI, MIP, and estimated cash to close.
5. Check DTI; many aim near 28% front-end.

Use results to refine budget, compare lenders, and request a Loan Estimate.