Using the FHA Loan Calculator
Use the proposed loan principal and the actual fees quoted for your scenario. The financed fee increases the balance on which payments are calculated; the monthly insurance amount is then added to the payment.
Worked example
Use the example inputs below to reproduce this result. These are the form's starting values, not recommended targets. Changing your inputs updates your result above; this worked example stays fixed for comparison. Results are rounded for display.
Example inputs
- Amount borrowed
- 20000
- Annual interest rate (%)
- 6
- Term (months)
- 60
- Financed upfront fee (%)
- 1.75
- Monthly mortgage insurance
- 100
Example result
- Monthly payment
- 393.42
- Total payments
- 23,605.35
- Total interest
- 3,255.35
- Financed balance
- 20,350
- Monthly payment including insurance
- 493.42
Method and assumptions
Illustrative fees only; verify your actual lender/program fees, exemptions and insurance duration. Excludes property taxes, homeowners insurance and eligibility assessment.
Build a complete housing comparison
A housing calculation usually answers one part of a larger decision. Keep the purchase price, financing, recurring ownership expenses and eventual sale assumptions in separate lines of your budget. This makes it easier to spot costs omitted by a particular model. When comparing alternatives, use the same time horizon and currency for both.
Common question
Does this include homeowners insurance and property tax?
No. The insurance field is for the monthly mortgage-insurance amount you supply. Homeowners insurance, property tax and association charges need separate allowances.
Guide updated .