How to Use the FHA Loan Calculator

An FHA Loan Calculator helps you estimate your monthly mortgage payment based on the Federal Housing Administration's loan program, including principal and interest components.

What It Does:

This tool helps potential homeowners calculate the monthly cost of an FHA-insured mortgage. FHA loans are popular for their low down payment options (as low as 3.5%) and flexible credit requirements.

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Steps to Use:

1. Enter the home price you’re looking to buy.
2. Input your planned down payment percentage (e.g., 3.5% minimum for FHA).
3. Enter your expected interest rate (check with lenders or market rates).
4. Enter the loan term in years (most FHA loans are 30 years).

Then click "Calculate Monthly Payment" to see:

• The loan amount you’ll be borrowing.
• The estimated monthly payment for principal and interest only.

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Example:

If you're buying a $300,000 home with 3.5% down and a 6.5% interest rate over 30 years, the calculator will estimate your loan amount and monthly payment.

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FHA Loan Calculator FAQ

Q1: Does this calculator include taxes, insurance, or PMI?
A: No. This calculator estimates only principal and interest. FHA loans also require mortgage insurance premiums (MIP), which are not included here.

Q2: What is the minimum down payment for an FHA loan?
A: Typically 3.5% of the home’s purchase price.

Q3: Can I change the loan term?
A: Yes! You can enter any loan term in years—15, 20, or 30 years are common.

Q4: Is this calculator accurate for every FHA loan scenario?
A: It gives a solid estimate, but your actual payment may differ depending on taxes, insurance, credit score, and lender fees.

Q5: Do I qualify for an FHA loan?
A: This tool doesn’t determine eligibility. Consult a lender or mortgage advisor to see if you meet FHA requirements.