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FHA Funding Fee, Mortgage Loan & MIP Calculator

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USDA Loan Calculator    |    Veteran Loan Calculator    |    FHA Net Tangible Benefit Calculator

Easily calculate the FHA funding Fee (UFMIP) & the monthly FHA mortgage insurance fee (MIP) for a 30 and 15 year FHA mortgage. Simply enter the sales price, choose the down payment percentage & loan term. Since the FHA mortgage has a "maximum" loan amount, click on the FHA US FlagLookup button, and you will be redirected to the HUD web site. Choose the appropriate state and a list of counties will populate. The name of the county 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 limits for 1, 2, 3 and 4 units. If you 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, click on the FHA Calculator button and enter the maximum FHA mortgage amount in the Maximum Mortgage From Chart box. Click on the Calculate button to estimate the mortgage amount and monthly mortgage premium (mip) cost. Select the interest rate and enter the property taxes, and homeowner's insurance if desired to estimate the monthly FHA loan payment. The closing cost section 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, 2013 annual (monthly) mip change.
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