FHA Loan Report ·

FHA Loan Calculator

See your full FHA payment with mortgage insurance included, and where your DTI lands against FHA guidelines, using the same math a lender runs.

Home Loan Details

Home Purchase Price iThe purchase price of the home you are buying, before any down payment.

FHA caps how much you can borrow, and the cap is set county by county. Pick your state to see its 2026 range, and look up your exact county at HUD's site.

State iThe state where the home is located. It drives the FHA loan limit check below the loan readouts, and it estimates your state income tax in the leftover money view. FHA limits are set county by county, so confirm yours at HUD's lookup.

Down Payment iWhat you are putting down, as a percent of the price or a dollar amount.

FHA minimums:
Credit score 580 or higher: 3.5% down
Credit score 500 to 579: 10% down

Putting 10% or more down also helps later: your annual MIP drops to 0.50% and ends after 11 years instead of running the life of the loan.

Credit Score iFHA allows credit scores down to 500, one of the most forgiving programs out there. With a 580 or higher your minimum down payment is 3.5%. Between 500 and 579 FHA requires at least 10% down. Many lenders add their own minimums, commonly 580 to 620, so shop around if your score is low.

Interest Rate iYour quoted annual interest rate. No quote yet? Use a current market estimate for a realistic payment. Check daily rates to get a good average. See current market rates.

Loan Term iThe loan length in years. Most buyers use 30 years. Shorter terms mean a higher payment and less total interest, and FHA rewards them with cheaper mortgage insurance: terms of 15 years or less run 0.15% to 0.40% instead of 0.50% to 0.75%.

yrs

See current market rates

These are national daily averages from Optimal Blue, not a quote. Your actual rate depends on your credit, down payment, loan type and any points you pay. The date is shown at the bottom of the panel. Nothing here changes the rate you typed into the calculator.

Source: Optimal Blue Mortgage Market Indices (OBMMI). Open the market rates in a new tab.

Upfront MIP (1.75%) iFHA charges an upfront mortgage insurance premium of 1.75% of the base loan amount. Almost everyone rolls it into the loan instead of paying cash, and this calculator finances it the same way.

$6,755

Loan Amount

$392,755

Principal & Interest

$2,352.16/mo

Monthly Housing Costs

Property Taxes iEnter property taxes as a percent of the purchase price per year, or tap $/mo to enter the exact monthly amount from a tax bill or listing. Most areas fall between 1% and 2% per year.

= $500/mo

Homeowner's Insurance iEnter homeowner's insurance as a percent of the purchase price per year, or tap $/mo to enter a real quote. A common estimate is about 0.5% per year.

= $167/mo

HOA Dues iHomeowners association dues, if the property has an HOA. Some HOAs bill quarterly or annually, so tap /yr to enter the annual total instead. Leave it at 0 if there is none.

Other (flood insurance, etc.) iAny other monthly housing cost, such as flood insurance or a special assessment. Leave it at 0 if none apply.

Monthly MIP iFHA's annual mortgage insurance premium, split into your monthly payment. The rate depends on your down payment, loan size, and term. Most 30 year buyers with the minimum down pay 0.55% of the loan per year.

$176.92/mo

Annual MIP Rate

0.55%

MIP Lasts iWith less than 10% down, FHA mortgage insurance runs the life of the loan. Put 10% or more down and it falls off after 11 years. Most buyers who start under 10% down refinance into a conventional loan once they reach 20% equity to drop it.

Life of loan

Income iAdd every income source you receive. All of it counts toward your DTI. Employment income, military base pay, retirement, second jobs, and self-employment are taxable and drive the estimated income taxes. BAH, BAS, VA disability, Social Security, and child support are non-taxable. FHA lets a lender gross up non-taxable income by 15% in the DTI calculation, and this calculator applies the same boost. Rental income is counted at 75%, the same haircut a lender applies.

Total Monthly Income

$11,000

Est. Income Taxes iEstimated the way a lender runs a quick paycheck check: 2026 federal brackets and standard deduction, Social Security and Medicare, plus an approximate state income tax for your state, calculated on a monthly basis with zero adjustments. Non-taxable income is excluded. Local taxes are not included.

FHA qualifies you on gross income, so taxes never change your DTI. They are here so you can see what is actually left over each month.

$2,543/mo

Effective Tax Rate

23.1%

Monthly Liabilities iThe minimum monthly payments that show on your credit report: car loans, credit cards, student loans, and similar. Use the minimum due, not what you actually pay. Do not include utilities, insurance, or the home you are buying.

Total Monthly Debts

$500/mo

1Your monthly payment

$3,196

2Front-end (housing) ratio iYour full house payment, including MIP, divided by gross monthly income. FHA's standard guideline is 31%. With an automated underwriting approval and a strong file, lenders can approve up to 46.99%.

29.1%

Within 31%

31%

46.99% max

3Back-end (total DTI) ratio iYour house payment plus all monthly debts, divided by gross monthly income. FHA's standard guideline is 43%. With an automated underwriting approval and compensating factors like reserves or a small payment increase, strong files get approved up to 56.99%.

33.6%

Within 43%

43%

56.99% max

Fits FHA's standard 31/43 guidelines

Where your income goes iYour gross monthly income, split the way your budget actually feels it. What is left after estimated income taxes, the full house payment including MIP, and monthly debts is the money your family lives on. FHA doesn't check this number, but you should.

Calculate Closing Costs

Understand Your Numbers

More Info

What is FHA mortgage insurance?

FHA charges two premiums. There's an upfront 1.75% of the loan, which almost everyone rolls into the balance, and a yearly premium split into your monthly payment. Most 30 year buyers with the minimum down pay 0.55% a year. That's the trade for 3.5% down and easier credit.

The 31/43 rule, and how far it bends

FHA's standard guidelines are 31% of your gross income for the house payment and 43% once you add your debts. Those are guidelines, not walls. With an automated approval and a strong file, FHA loans get approved up to 46.99% and 56.99%.

Passing here isn't an approval

A lender looks at your whole file: income, assets, debts, credit, and payment history. Your ratios can look great here and still run into trouble if your credit is shaky, so keep it clean while you shop.

MIP doesn't have to be forever

Put 10% or more down and MIP comes off after 11 years. Under 10% down it runs the life of the loan, but once you have about 20% equity you can refinance into a conventional loan and drop it.

FHA Loan Resource Center

You ran the numbers. Now get the full guide.

My complete FHA Home Loan guide walks through credit and down payment requirements, mortgage insurance, DTI, and closing, so you know exactly what to expect.

Download the Full FHA Guide Book a Free Consultation

This calculator is an educational estimate, not a loan approval, a preapproval, or financial advice. It models FHA's mortgage insurance premiums and DTI guidelines, but a lender verifies your full file: income, assets, liabilities, credit, and payment history, and may apply its own overlays. Taxes and insurance figures are estimates that vary by property and location, and FHA loan limits vary by county. Confirm your numbers with a licensed loan officer before making decisions.

Brought to you by Payne Home Loans