An FHA loan is a mortgage backed by the Federal Housing Administration, and it usually needs a smaller down payment than a conventional loan. It also carries mortgage insurance. Enter the home price, the down payment, the rate and term, and the insurance rates from HUD's current schedule. The calculator shows the monthly payment and the insurance cost.
Each row changes one number by a tenth, and keeps the rest as you entered them.
| Scenario | Estimated monthly payment | Principal and interest |
|---|
The first result for each scenario, drawn to scale.
Enter your numbers in the boxes. The results update as you type, using the same calculation as the calculator.
The scenario table shows what changes when one number moves. Use it to see which number has the most effect on your result.
The results are estimates. They use only the numbers you enter, so they can differ from what a bank, lender, or adviser calculates.
