FHA Loan Calculator

Use this calculator to determine your FHA loan amount and how much cash needed for to complete the home purchase. It will also create an estimate of your closing costs and required upfront Mortgage Insurance Premium (MIP). This calculator is designed to determine the FHA mortgage limit for a particular purchase, not the maximum allowed for any home in your state and county. To determine the maximum purchase price for your area you should use https://entp.hud.gov/idapp/html/hicostlook.cfm at the HUD.gov. Then use the calculator below to determine the required down payment, FHA mortgage limit and required upfront Mortgage Insurance Premium (MIP).

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By changing any value in the following form fields, calculated values are immediately provided for displayed output values. Click the view report button to see all of your results.

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FHA Maximum Financing Calculator

*indicates required.

Maximum FHA financing:

$0.00

FHA down payment required:*This entry is required.Enter an amount between 0% and 20%

Contract Sales Price:*This entry is required.Enter an amount between $0.00 and $1,000,000.00

Appraised value of home:*This entry is required.Enter an amount between $0.00 and $1,000,000.00

Required adjustments:*This entry is required.Enter an amount between -$100,000.00 and $100,000.00

Total cash to close:

$0.00

Minimum down payment:

Borrower-paid closing costs:*This entry is required.Enter an amount between $0.00 and $100,000.00

Prepaid expenses:*This entry is required.Enter an amount between $0.00 and $100,000.00

Discount points:*This entry is required.Enter an amount between $0.00 and $100,000.00

Repairs/improvements (non-financeable):*This entry is required.Enter an amount between $0.00 and $100,000.00

MIP paid in cash:*This entry is required.Enter an amount between $0.00 and $100,000.00

Non-realty and other items:*This entry is required.Enter an amount between $0.00 and $100,000.00

**FIG_GRAPHTITLE** Stacked Column Graph: Please use the calculator's report to see detailed calculation results in tabular form.

FHA Home Financing

Definitions

FHA down payment required

Percentage of your contract sales price plus required adjustments that you are required to pay and not borrow. If the appraised value of your home is less than the sales price, the required down payment will be the appraised value plus required adjustments X the required percentage, plus the difference between the sales price and the appraised value. This is designed to require at least a small down payment from the purchaser. The minimum downpayment percent is 3.5%.

Contract Sales Price

Actual price to be paid for the home. This does not include any closing costs paid by the borrower.

Borrower-paid closing costs

Any closing costs paid by the borrower. Closing costs paid by the borrower do not count toward the FHA required down payment.

Required adjustments

This amount will decrease (or increase if negative amounts are entered) the contract sales price before calculating the required minimum down payment. A common required adjustment would be for gift funds that do not meet FHA requirements. Additionally, this would also include, seller paid financing fees over 3% of the sale price in seller paid closing costs, or any other financial inducements to by the seller.

Appraised value of home

If this plus any required adjustments is lower than the contract sales price, the appraised value is used to calculate the maximum mortgage instead of the contract sales price.

Prepaid expenses, points, non-financeable repairs/improvements, MIP, other items

Any other items required at closing that are not able to be financed into the mortgage. These items plus your down payment is your total cash required to close this mortgage.

Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.