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FHA Mortgage Calculator & MIP Calculator

Easily calculate the FHA funding Fee (UFMIP) & the monthly FHA mortgage insurance fee (MIP) for a 30 and 15 year FHA home loan. Simply enter the sales price, choose the down payment percentage & loan term. Since the FHA loan has a "maximum" loan amount, find the maximum FHA limit on the FHA lookup screen below and enter the amount on line 4. Choose the appropriate state and click on the Send button. The county name is located in the third column. If necessary, scroll to the bottom of the page to go to the next page of counties for that state. Notice that there are FHA loan limits for 1, 2, 3 and 4 units. If you are estimating the FHA loan for a single family home, use the One-Family limit for that county. Needless to say (but I'll say it anyway), pick up Two-Family loan maximum for a duplex, 3-unit, or 4 unit as appropriate. After acquiring the maximum FHA loan amount, enter the maximum limit on line 4. Click on the Calculate button to estimate the FHA home loan amount and monthly mortgage premium (mip) cost. Select the interest rate and enter the real estate tax, and homeowner's insurance if desired to estimate the monthly FHA loan payment. The closing cost calculator is similar to the new Good Faith Estimate (GFE) required by HUD. Learn more about FHA loans and the FHA loan program on the FHA Page. This calculator has been updated for the April 1 and June 3, 2013 annual (monthly) mip changes.

 

| FHA Mortgage Calculator | Closing Cost Calculator |

    FHA Funding Fee Calculator
   
  1. Sales Price
  2. Down Payment
  3. Term
  4.
  5. Base Mortgage Amount  
  6. FHA Funding Fee (UFMIP) +  
  7. Mortgage Amount (Final) =  
   
    Monthly Mortgage Payment
  8. Principal & Interest  
  9. Annual Real Estate Taxes  
  10. Annual Homeowners Insurance  
  11. Other  
  12. FHA MIP  
  13. MONTHLY MORTGAGE PAYMENT =  
   
  14. Closing Costs (from page 2)  
   
    Based on April 1, 2013 & June 3, 2013 change  
   
  Term > 15 Years
    Base Loan Amount LTV Effective Annual MIP  
  ≤ $625,500 ≤ 95.00% 4/1/2013 1.30%  
  ≤ $625,500 > 95.00% 4/1/2013 1.35%  
  > $625,500 ≤ 95.00% 4/1/2013 1.50%  
  > $625,500 > 95.00% 4/1/2013 1.55%  
  Term ≤ 15 Years with LTV above 78%
    Base Loan Amount LTV Effective Annual MIP  
  Any loan amount < 78.00% 6/3/2013 0.45  
  ≤ $625,500 78.01% - 90.00% 4/1/2013 0.45  
  ≤ $625,500 > 90.00% 4/1/2013 0.70  
  > $625,500 78.01% - 90.00% 4/1/2013 0.70  
  > $625,500 > 90.00% 4/1/2013 0.95  
   
 
  This calculator and information contained herein are made available to you as a self-help tool for illustrative use only. Examples are hypothetical. We can not and do not guarantee the applicability or accuracy in regards to your individual circumstances. I encourage you to seek personalized advice from qualified professionals. Copyright © 2013 William A. MacDonald. All Rights Reserved. AnytimeEstimate.com

 
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