FHA Home Loans Calculator

Display currencyFormatting only. This does not change the calculation.

Home price

Down payment

Down payment is a percentage

Annual interest rate (%)The nominal annual rate (APR before fees), not the monthly rate.

Loan term (years)

Term - additional monthsAdded to the term in years, for terms such as 5 years and 6 months. To state a tenure purely in months, set the years to 0 and enter the whole tenure here.

Payment frequency

Annual property tax

Property tax is a percentage of the home price

Annual home insurance

Monthly HOA dues

Upfront fee financed into the loan (%)A one-off premium charged as a percentage of the base loan and added to the amount borrowed: the VA funding fee, the FHA upfront MIP or the USDA guarantee fee. These rates are reset by the agency from time to time, so enter the rate currently published for your programme.

Solve for

Target principal and interest payment Only used when solving for the rate: the principal-and-interest instalment you have been quoted or can afford.

Extra payment each period Additional principal paid on top of the scheduled payment.

Include the amortisation schedule

Total monthly payment

2,659.4

Mortgage Payment Calculator

Payment

2,482.48

Total interest

500,936.57

Total of payments

893,691.57

Number of payments

360

Payoff time

30 years

Rate per period

0.541667 %

Interest per unit borrowed

1.2754

Interest saved by extra payments

Payments saved

Principal and interest

2,482.48

Property tax

Home insurance

PMI

176.92

Loan amount

386,000

Loan-to-value ratio

96.5 %

Total PMI paid

42,206.97

Upfront fee financed

6,755

Total amount financed

392,755

Worked out from HUD Mortgagee Letter 2023-05, Reduction of Federal Housing Administration (FHA) Annual Mortgage Insurance Premium (MIP) Rates and 9 other sources.

The annual premium is being charged for the whole term. Confirm the duration rule against your programme handbook - FHA, USDA and conventional PMI each terminate differently.

How this is worked out

6 steps

Loan amount = 400000 - 14000 down = 386000 (LTV 96.5%)
An upfront fee of 6755 is financed, so 392755 is actually borrowed.
Principal and interest = 2482.48
No escrow items entered.
Mortgage insurance at 0.55% of the balance adds 176.92 a month for the whole term.
Total monthly payment = 2659.4

Amortisation scheduletable

period	payment	interest	principal	balance
1	2,482.48	2,127.42	355.06	392,399.94
2	2,482.48	2,125.5	356.98	392,042.96
3	2,482.48	2,123.57	358.91	391,684.05
4	2,482.48	2,121.62	360.86	391,323.19
5	2,482.48	2,119.67	362.81	390,960.38
6	2,482.48	2,117.7	364.78	390,595.6
7	2,482.48	2,115.73	366.75	390,228.85
8	2,482.48	2,113.74	368.74	389,860.11
9	2,482.48	2,111.74	370.74	389,489.37
10	2,482.48	2,109.73	372.75	389,116.62
11	2,482.48	2,107.72	374.76	388,741.86
12	2,482.48	2,105.69	376.79	388,365.07
13	2,482.48	2,103.64	378.84	387,986.23
14	2,482.48	2,101.59	380.89	387,605.34
15	2,482.48	2,099.53	382.95	387,222.39
16	2,482.48	2,097.45	385.03	386,837.36
17	2,482.48	2,095.37	387.11	386,450.25
18	2,482.48	2,093.27	389.21	386,061.04
19	2,482.48	2,091.16	391.32	385,669.72
20	2,482.48	2,089.04	393.44	385,276.28
21	2,482.48	2,086.91	395.57	384,880.71
22	2,482.48	2,084.77	397.71	384,483
23	2,482.48	2,082.62	399.86	384,083.14
24	2,482.48	2,080.45	402.03	383,681.11
25	2,482.48	2,078.27	404.21	383,276.9
26	2,482.48	2,076.08	406.4	382,870.5
27	2,482.48	2,073.88	408.6	382,461.9
28	2,482.48	2,071.67	410.81	382,051.09
29	2,482.48	2,069.44	413.04	381,638.05
30	2,482.48	2,067.21	415.27	381,222.78
31	2,482.48	2,064.96	417.52	380,805.26
32	2,482.48	2,062.7	419.78	380,385.48
33	2,482.48	2,060.42	422.06	379,963.42
34	2,482.48	2,058.14	424.34	379,539.08
35	2,482.48	2,055.84	426.64	379,112.44
36	2,482.48	2,053.53	428.95	378,683.49
37	2,482.48	2,051.2	431.28	378,252.21
38	2,482.48	2,048.87	433.61	377,818.6
39	2,482.48	2,046.52	435.96	377,382.64
40	2,482.48	2,044.16	438.32	376,944.32
41	2,482.48	2,041.78	440.7	376,503.62
42	2,482.48	2,039.39	443.09	376,060.53
43	2,482.48	2,036.99	445.49	375,615.04
44	2,482.48	2,034.58	447.9	375,167.14
45	2,482.48	2,032.16	450.32	374,716.82
46	2,482.48	2,029.72	452.76	374,264.06
47	2,482.48	2,027.26	455.22	373,808.84
48	2,482.48	2,024.8	457.68	373,351.16
49	2,482.48	2,022.32	460.16	372,891
50	2,482.48	2,019.83	462.65	372,428.35
51	2,482.48	2,017.32	465.16	371,963.19
52	2,482.48	2,014.8	467.68	371,495.51
53	2,482.48	2,012.27	470.21	371,025.3
54	2,482.48	2,009.72	472.76	370,552.54
55	2,482.48	2,007.16	475.32	370,077.22
56	2,482.48	2,004.58	477.9	369,599.32
57	2,482.48	2,002	480.48	369,118.84
58	2,482.48	1,999.39	483.09	368,635.75
59	2,482.48	1,996.78	485.7	368,150.05
60	2,482.48	1,994.15	488.33	367,661.72
61	2,482.48	1,991.5	490.98	367,170.74
62	2,482.48	1,988.84	493.64	366,677.1
63	2,482.48	1,986.17	496.31	366,180.79
64	2,482.48	1,983.48	499	365,681.79
65	2,482.48	1,980.78	501.7	365,180.09
66	2,482.48	1,978.06	504.42	364,675.67
67	2,482.48	1,975.33	507.15	364,168.52
68	2,482.48	1,972.58	509.9	363,658.62
69	2,482.48	1,969.82	512.66	363,145.96
70	2,482.48	1,967.04	515.44	362,630.52
71	2,482.48	1,964.25	518.23	362,112.29
72	2,482.48	1,961.44	521.04	361,591.25
73	2,482.48	1,958.62	523.86	361,067.39
74	2,482.48	1,955.78	526.7	360,540.69
75	2,482.48	1,952.93	529.55	360,011.14
76	2,482.48	1,950.06	532.42	359,478.72
77	2,482.48	1,947.18	535.3	358,943.42
78	2,482.48	1,944.28	538.2	358,405.22
79	2,482.48	1,941.36	541.12	357,864.1
80	2,482.48	1,938.43	544.05	357,320.05
81	2,482.48	1,935.48	547	356,773.05
82	2,482.48	1,932.52	549.96	356,223.09
83	2,482.48	1,929.54	552.94	355,670.15
84	2,482.48	1,926.55	555.93	355,114.22
85	2,482.48	1,923.54	558.94	354,555.28
86	2,482.48	1,920.51	561.97	353,993.31
87	2,482.48	1,917.46	565.02	353,428.29
88	2,482.48	1,914.4	568.08	352,860.21
89	2,482.48	1,911.33	571.15	352,289.06
90	2,482.48	1,908.23	574.25	351,714.81
91	2,482.48	1,905.12	577.36	351,137.45
92	2,482.48	1,901.99	580.49	350,556.96
93	2,482.48	1,898.85	583.63	349,973.33
94	2,482.48	1,895.69	586.79	349,386.54
95	2,482.48	1,892.51	589.97	348,796.57
96	2,482.48	1,889.31	593.17	348,203.4
97	2,482.48	1,886.1	596.38	347,607.02
98	2,482.48	1,882.87	599.61	347,007.41
99	2,482.48	1,879.62	602.86	346,404.55
100	2,482.48	1,876.36	606.12	345,798.43
101	2,482.48	1,873.07	609.41	345,189.02
102	2,482.48	1,869.77	612.71	344,576.31
103	2,482.48	1,866.46	616.02	343,960.29
104	2,482.48	1,863.12	619.36	343,340.93
105	2,482.48	1,859.76	622.72	342,718.21
106	2,482.48	1,856.39	626.09	342,092.12
107	2,482.48	1,853	629.48	341,462.64
108	2,482.48	1,849.59	632.89	340,829.75
109	2,482.48	1,846.16	636.32	340,193.43
110	2,482.48	1,842.71	639.77	339,553.66
111	2,482.48	1,839.25	643.23	338,910.43
112	2,482.48	1,835.76	646.72	338,263.71
113	2,482.48	1,832.26	650.22	337,613.49
114	2,482.48	1,828.74	653.74	336,959.75
115	2,482.48	1,825.2	657.28	336,302.47
116	2,482.48	1,821.64	660.84	335,641.63
117	2,482.48	1,818.06	664.42	334,977.21
118	2,482.48	1,814.46	668.02	334,309.19
119	2,482.48	1,810.84	671.64	333,637.55
120	2,482.48	1,807.2	675.28	332,962.27

First 120 of 360 rows.

Yearly summarytable

year	interest	principal	endingBalance
1	25,399.83	4,389.93	388,365.07
2	25,105.8	4,683.96	383,681.11
3	24,792.14	4,997.62	378,683.49
4	24,457.43	5,332.33	373,351.16
5	24,100.32	5,689.44	367,661.72
6	23,719.29	6,070.47	361,591.25
7	23,312.73	6,477.03	355,114.22
8	22,878.94	6,910.82	348,203.4
9	22,416.11	7,373.65	340,829.75
10	21,922.28	7,867.48	332,962.27
11	21,395.4	8,394.36	324,567.91
12	20,833.21	8,956.55	315,611.36
13	20,233.36	9,556.4	306,054.96
14	19,593.36	10,196.4	295,858.56
15	18,910.51	10,879.25	284,979.31
16	18,181.9	11,607.86	273,371.45
17	17,404.49	12,385.27	260,986.18
18	16,575.04	13,214.72	247,771.46
19	15,690.02	14,099.74	233,671.72
20	14,745.71	15,044.05	218,627.67
21	13,738.18	16,051.58	202,576.09
22	12,663.18	17,126.58	185,449.51
23	11,516.18	18,273.58	167,175.93
24	10,292.37	19,497.39	147,678.54
25	8,986.6	20,803.16	126,875.38
26	7,593.37	22,196.39	104,678.99
27	6,106.84	23,682.92	80,996.07
28	4,520.76	25,269	55,727.07
29	2,828.44	26,961.32	28,765.75
30	1,022.78	28,765.75	0

Results are general information, not financial, tax, legal, medical or engineering advice.