FHA Loan Calculator — How Much House Can You Afford?

3.5% down with qualifying credit, 1.75% upfront MIP financed, monthly MIP included.

Rent Versus Buy

Your Numbers

All figures are pre-tax where relevant.
$

Your pre-tax pay each month

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Minimum monthly payments — not balances

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FHA minimum is 3.5% down.

Enter a ZIP code and we'll pull in your county's FHA loan limit automatically.

Please Select One Of The Following:

You bring your own down payment.

Please note: down payment assistance funds carry additional underwriting requirements, tighter debt-to-income limits, and their own closing costs, so the full 3.5% or 5% will not always go toward your down payment. Contact us to review the details for your specific situation.

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Estimated FHA rate for illustration

15-year terms carry a lower annual MIP

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Defaults to 0.70% if left blank

If you know the actual property taxes enter it here. Otherwise, .70% will be utilized to estimate.

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Estimate for your area and home value

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Leave at $0 if no HOA

mo

Tax + insurance escrow prepaids collected at closing

Your Projected FHA Purchase Price Range

Based on $8,500/mo income, 3.5% down, 6.75% for 30 yrs.
Shop Between
$336,754–$417,223
Up to $497,692
Conservative
36% Total DTI
Debt-to-income ratio
$336,754
Base Loan (96.5% Max)$324,967
Upfront MIP (1.75%, financed)$5,687
Total Loan$330,654
Principal & Interest$2,145
Property Tax$196
Insurance$120
HOA$0
Monthly MIP (0.55%)$149
Down Payment (3.5%)$11,786
Closing Costs$9,261
Prepaids$2,389
First Year Homeowners Insurance$1,440
Down Payment AssistanceSelect 3.5% or 5%
Est. Cash To Close$23,436
FHA Guideline
43% Total DTI
Debt-to-income ratio
$417,223
Base Loan (96.5% Max)$402,620
Upfront MIP (1.75%, financed)$7,046
Total Loan$409,666
Principal & Interest$2,657
Property Tax$243
Insurance$120
HOA$0
Monthly MIP (0.55%)$185
Down Payment (3.5%)$14,603
Closing Costs$10,848
Prepaids$2,530
First Year Homeowners Insurance$1,440
Down Payment AssistanceSelect 3.5% or 5%
Est. Cash To Close$27,981
Moderate
47% Total DTI
Debt-to-income ratio
$463,205
Base Loan (96.5% Max)$446,993
Upfront MIP (1.75%, financed)$7,822
Total Loan$454,816
Principal & Interest$2,950
Property Tax$270
Insurance$120
HOA$0
Monthly MIP (0.55%)$205
Down Payment (3.5%)$16,212
Closing Costs$11,580
Prepaids$2,611
First Year Homeowners Insurance$1,440
Down Payment AssistanceSelect 3.5% or 5%
Est. Cash To Close$30,403
Aggressive
50% Total DTI
Debt-to-income ratio
$497,692
Base Loan (96.5% Max)$480,273
Upfront MIP (1.75%, financed)$8,405
Total Loan$488,678
Principal & Interest$3,170
Property Tax$290
Insurance$120
HOA$0
Monthly MIP (0.55%)$220
Down Payment (3.5%)$17,419
Closing Costs$12,442
Prepaids$2,671
First Year Homeowners Insurance$1,440
Down Payment AssistanceSelect 3.5% or 5%
Est. Cash To Close$32,532
Want These Numbers Reviewed For Your Situation?
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Your information is used only to respond to your mortgage inquiry and is not sold. This is not a loan application and does not constitute any type of formal loan approval.

How FHA Math Works Here

Base loan = purchase price − down payment (minimum 3.5% down, so up to 96.5% base financing). The 1.75% upfront MIP is added to that base loan and financed, so it raises your principal and interest but not your cash to close.

Monthly MIP is the annual rate (typically 0.55% with less than 10% down on a 30-year term, 0.50% at 95% LTV or lower) divided by 12, charged on the base loan. With less than 10% down it stays for the life of the loan; at 10% or more down it falls off after 11 years.

We take a target debt-to-income ratio, subtract your existing debts, insurance, HOA, and taxes, then solve for the largest price whose payment fits what's left. Down payment assistance reduces cash to close, not the monthly payment.

Frequently Asked Questions

About Closing Costs: closing costs are estimated using a tiered percentage of the purchase price: 3% up to $250,000, 2.75% from $250,001 to $350,000, 2.6% from $350,001 to $450,000, 2.5% from $450,001 to $550,000, and 2.35% above $550,000. This is not an itemized quote. Actual closing costs vary by lender, title and escrow company, county, and property, and typically include origination and underwriting fees, appraisal, credit and flood reports, title insurance and settlement fees, recording fees and transfer taxes, plus prepaid interest and escrow deposits for property taxes and homeowners insurance. Seller credits, lender credits, and down payment assistance programs can offset part of them. Your official figures come from a Loan Estimate issued after a full application.

This is for educational and illustration purposes only. Does not constitute any type of formal loan approval or intent to make a loan of any type. Cash to close, monthly payment, and purchase prices are purely estimated and will vary based on the actual property selected. County taxes, homeowners insurance, lender fees, credit, and down payment will impact your rate and mortgage insurance. Illustrations are based on an FHA loan with FHA mortgage insurance; FHA county loan limits, primary-residence occupancy, and program guidelines apply. Down Payment Assistance availability and terms vary by program.