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FHA Mortgage Calculator Excel

Today's Home Equity Rates
Check Today's Mortgage Rates

FHA Mortgage Calculator Excel with PMI and taxes is a tool to calculate your FHA mortgage payment.FHA home loan calculator has options to calculate property tax, home insurance, payment frequency (monthly and bi-weekly), monthly HOA fees, and extra payments. The FHA amortization calculator will show a summary of the mortgage and a breakdown of each monthly payment.

FHA Loan Calculator

Home Value
$
Down Payment
Base Mortgage Amount
$
Loan Terms
Interest Rate
One time Up Front MIP
%
Annual MIP
%
Final Mortgage Amount
$
Property Tax (Yearly)
Home Insurance (Yearly)
HOA Fees (Monthly)
Payment Frequency
First Payment Date

Amortization schedule
Extra Payments
One Time
$ On Date
Monthly or Biweekly
$ Starting Date
Quarterly
$ Starting Date
Yearly
$ Starting Date

FHA Mortgage Calculator Results

Home Value: $400,000.00
Mortgage Amount: $294,566.00
Monthly Principal & Interest: $1,581.29
Monthly Extra Payment: $0.00
Monthly Property Tax: $183.33
Monthly Home Insurance: $54.17
Monthly MIP: $273.42
Monthly HOA Fees: $0.00
Total Monthly Payment:
$2,092.21
Total # Of Payments: 360
Start Date: Jul, 2024
Payoff Date: Jun, 2054
Down Payment: $14,000.00
Principal (includes UFMIP): $294,566.00
Total Extra Payment: $0.00
Total Interest Paid: $274,699.83
Total Tax, Insurance, MIP and Fees: $183,930.00
Total of all Payments:
$767,195.83

FHA Mortgage Amortization Schedule

Payment Date Payment # Interest Principal Tax, Insurance, MIP & Fees Total Payment Balance
Jul, 2024 1 $1,227.36 $353.94 $510.92 $2,092.21 $294,212.06
Aug, 2024 2 $1,225.88 $355.41 $510.92 $2,092.21 $293,856.65
Sep, 2024 3 $1,224.40 $356.89 $510.92 $2,092.21 $293,499.76
Oct, 2024 4 $1,222.92 $358.38 $510.92 $2,092.21 $293,141.38
Nov, 2024 5 $1,221.42 $359.87 $510.92 $2,092.21 $292,781.51
Dec, 2024 6 $1,219.92 $361.37 $510.92 $2,092.21 $292,420.14
Jan, 2025 7 $1,218.42 $362.88 $510.92 $2,092.21 $292,057.27
Feb, 2025 8 $1,216.91 $364.39 $510.92 $2,092.21 $291,692.88
Mar, 2025 9 $1,215.39 $365.91 $510.92 $2,092.21 $291,326.97
Apr, 2025 10 $1,213.86 $367.43 $510.92 $2,092.21 $290,959.54
May, 2025 11 $1,212.33 $368.96 $510.92 $2,092.21 $290,590.58
Jun, 2025 12 $1,210.79 $370.50 $510.92 $2,092.21 $290,220.08
Jul, 2025 13 $1,209.25 $372.04 $510.92 $2,092.21 $289,848.03
Aug, 2025 14 $1,207.70 $373.59 $510.92 $2,092.21 $289,474.44
Sep, 2025 15 $1,206.14 $375.15 $510.92 $2,092.21 $289,099.29
Oct, 2025 16 $1,204.58 $376.71 $510.92 $2,092.21 $288,722.57
Nov, 2025 17 $1,203.01 $378.28 $510.92 $2,092.21 $288,344.29
Dec, 2025 18 $1,201.43 $379.86 $510.92 $2,092.21 $287,964.43
Jan, 2026 19 $1,199.85 $381.44 $510.92 $2,092.21 $287,582.99
Feb, 2026 20 $1,198.26 $383.03 $510.92 $2,092.21 $287,199.96
Mar, 2026 21 $1,196.67 $384.63 $510.92 $2,092.21 $286,815.33
Apr, 2026 22 $1,195.06 $386.23 $510.92 $2,092.21 $286,429.10
May, 2026 23 $1,193.45 $387.84 $510.92 $2,092.21 $286,041.26
Jun, 2026 24 $1,191.84 $389.46 $510.92 $2,092.21 $285,651.80
Jul, 2026 25 $1,190.22 $391.08 $510.92 $2,092.21 $285,260.73
Aug, 2026 26 $1,188.59 $392.71 $510.92 $2,092.21 $284,868.02
Sep, 2026 27 $1,186.95 $394.34 $510.92 $2,092.21 $284,473.68
Oct, 2026 28 $1,185.31 $395.99 $510.92 $2,092.21 $284,077.69
Nov, 2026 29 $1,183.66 $397.64 $510.92 $2,092.21 $283,680.05
Dec, 2026 30 $1,182.00 $399.29 $510.92 $2,092.21 $283,280.76
Jan, 2027 31 $1,180.34 $400.96 $510.92 $2,092.21 $282,879.80
Feb, 2027 32 $1,178.67 $402.63 $510.92 $2,092.21 $282,477.17
Mar, 2027 33 $1,176.99 $404.31 $510.92 $2,092.21 $282,072.87
Apr, 2027 34 $1,175.30 $405.99 $510.92 $2,092.21 $281,666.88
May, 2027 35 $1,173.61 $407.68 $510.92 $2,092.21 $281,259.19
Jun, 2027 36 $1,171.91 $409.38 $510.92 $2,092.21 $280,849.81
Jul, 2027 37 $1,170.21 $411.09 $510.92 $2,092.21 $280,438.73
Aug, 2027 38 $1,168.49 $412.80 $510.92 $2,092.21 $280,025.93
Sep, 2027 39 $1,166.77 $414.52 $510.92 $2,092.21 $279,611.41
Oct, 2027 40 $1,165.05 $416.25 $510.92 $2,092.21 $279,195.16
Nov, 2027 41 $1,163.31 $417.98 $510.92 $2,092.21 $278,777.18
Dec, 2027 42 $1,161.57 $419.72 $510.92 $2,092.21 $278,357.46
Jan, 2028 43 $1,159.82 $421.47 $510.92 $2,092.21 $277,935.99
Feb, 2028 44 $1,158.07 $423.23 $510.92 $2,092.21 $277,512.76
Mar, 2028 45 $1,156.30 $424.99 $510.92 $2,092.21 $277,087.77
Apr, 2028 46 $1,154.53 $426.76 $510.92 $2,092.21 $276,661.01
May, 2028 47 $1,152.75 $428.54 $510.92 $2,092.21 $276,232.47
Jun, 2028 48 $1,150.97 $430.33 $510.92 $2,092.21 $275,802.14
Jul, 2028 49 $1,149.18 $432.12 $510.92 $2,092.21 $275,370.02
Aug, 2028 50 $1,147.38 $433.92 $510.92 $2,092.21 $274,936.10
Sep, 2028 51 $1,145.57 $435.73 $510.92 $2,092.21 $274,500.38
Oct, 2028 52 $1,143.75 $437.54 $510.92 $2,092.21 $274,062.84
Nov, 2028 53 $1,141.93 $439.37 $510.92 $2,092.21 $273,623.47
Dec, 2028 54 $1,140.10 $441.20 $510.92 $2,092.21 $273,182.27
Jan, 2029 55 $1,138.26 $443.03 $510.92 $2,092.21 $272,739.24
Feb, 2029 56 $1,136.41 $444.88 $510.92 $2,092.21 $272,294.36
Mar, 2029 57 $1,134.56 $446.73 $510.92 $2,092.21 $271,847.62
Apr, 2029 58 $1,132.70 $448.60 $510.92 $2,092.21 $271,399.03
May, 2029 59 $1,130.83 $450.46 $510.92 $2,092.21 $270,948.56
Jun, 2029 60 $1,128.95 $452.34 $510.92 $2,092.21 $270,496.22
Jul, 2029 61 $1,127.07 $454.23 $510.92 $2,092.21 $270,042.00
Aug, 2029 62 $1,125.17 $456.12 $510.92 $2,092.21 $269,585.88
Sep, 2029 63 $1,123.27 $458.02 $510.92 $2,092.21 $269,127.86
Oct, 2029 64 $1,121.37 $459.93 $510.92 $2,092.21 $268,667.93
Nov, 2029 65 $1,119.45 $461.84 $510.92 $2,092.21 $268,206.09
Dec, 2029 66 $1,117.53 $463.77 $510.92 $2,092.21 $267,742.32
Jan, 2030 67 $1,115.59 $465.70 $510.92 $2,092.21 $267,276.62
Feb, 2030 68 $1,113.65 $467.64 $510.92 $2,092.21 $266,808.97
Mar, 2030 69 $1,111.70 $469.59 $510.92 $2,092.21 $266,339.38
Apr, 2030 70 $1,109.75 $471.55 $510.92 $2,092.21 $265,867.84
May, 2030 71 $1,107.78 $473.51 $510.92 $2,092.21 $265,394.33
Jun, 2030 72 $1,105.81 $475.48 $510.92 $2,092.21 $264,918.84
Jul, 2030 73 $1,103.83 $477.47 $510.92 $2,092.21 $264,441.38
Aug, 2030 74 $1,101.84 $479.45 $510.92 $2,092.21 $263,961.92
Sep, 2030 75 $1,099.84 $481.45 $510.92 $2,092.21 $263,480.47
Oct, 2030 76 $1,097.84 $483.46 $510.92 $2,092.21 $262,997.01
Nov, 2030 77 $1,095.82 $485.47 $510.92 $2,092.21 $262,511.54
Dec, 2030 78 $1,093.80 $487.50 $510.92 $2,092.21 $262,024.04
Jan, 2031 79 $1,091.77 $489.53 $510.92 $2,092.21 $261,534.51
Feb, 2031 80 $1,089.73 $491.57 $510.92 $2,092.21 $261,042.95
Mar, 2031 81 $1,087.68 $493.62 $510.92 $2,092.21 $260,549.33
Apr, 2031 82 $1,085.62 $495.67 $510.92 $2,092.21 $260,053.66
May, 2031 83 $1,083.56 $497.74 $510.92 $2,092.21 $259,555.92
Jun, 2031 84 $1,081.48 $499.81 $510.92 $2,092.21 $259,056.11
Jul, 2031 85 $1,079.40 $501.89 $510.92 $2,092.21 $258,554.22
Aug, 2031 86 $1,077.31 $503.98 $510.92 $2,092.21 $258,050.24
Sep, 2031 87 $1,075.21 $506.08 $510.92 $2,092.21 $257,544.15
Oct, 2031 88 $1,073.10 $508.19 $510.92 $2,092.21 $257,035.96
Nov, 2031 89 $1,070.98 $510.31 $510.92 $2,092.21 $256,525.65
Dec, 2031 90 $1,068.86 $512.44 $510.92 $2,092.21 $256,013.21
Jan, 2032 91 $1,066.72 $514.57 $510.92 $2,092.21 $255,498.64
Feb, 2032 92 $1,064.58 $516.72 $510.92 $2,092.21 $254,981.92
Mar, 2032 93 $1,062.42 $518.87 $510.92 $2,092.21 $254,463.05
Apr, 2032 94 $1,060.26 $521.03 $510.92 $2,092.21 $253,942.02
May, 2032 95 $1,058.09 $523.20 $510.92 $2,092.21 $253,418.82
Jun, 2032 96 $1,055.91 $525.38 $510.92 $2,092.21 $252,893.44
Jul, 2032 97 $1,053.72 $527.57 $510.92 $2,092.21 $252,365.86
Aug, 2032 98 $1,051.52 $529.77 $510.92 $2,092.21 $251,836.09
Sep, 2032 99 $1,049.32 $531.98 $510.92 $2,092.21 $251,304.12
Oct, 2032 100 $1,047.10 $534.19 $510.92 $2,092.21 $250,769.92
Nov, 2032 101 $1,044.87 $536.42 $510.92 $2,092.21 $250,233.50
Dec, 2032 102 $1,042.64 $538.65 $510.92 $2,092.21 $249,694.85
Jan, 2033 103 $1,040.40 $540.90 $510.92 $2,092.21 $249,153.95
Feb, 2033 104 $1,038.14 $543.15 $510.92 $2,092.21 $248,610.80
Mar, 2033 105 $1,035.88 $545.42 $510.92 $2,092.21 $248,065.38
Apr, 2033 106 $1,033.61 $547.69 $510.92 $2,092.21 $247,517.70
May, 2033 107 $1,031.32 $549.97 $510.92 $2,092.21 $246,967.73
Jun, 2033 108 $1,029.03 $552.26 $510.92 $2,092.21 $246,415.46
Jul, 2033 109 $1,026.73 $554.56 $510.92 $2,092.21 $245,860.90
Aug, 2033 110 $1,024.42 $556.87 $510.92 $2,092.21 $245,304.03
Sep, 2033 111 $1,022.10 $559.19 $510.92 $2,092.21 $244,744.83
Oct, 2033 112 $1,019.77 $561.52 $510.92 $2,092.21 $244,183.31
Nov, 2033 113 $1,017.43 $563.86 $510.92 $2,092.21 $243,619.45
Dec, 2033 114 $1,015.08 $566.21 $510.92 $2,092.21 $243,053.23
Jan, 2034 115 $1,012.72 $568.57 $510.92 $2,092.21 $242,484.66
Feb, 2034 116 $1,010.35 $570.94 $510.92 $2,092.21 $241,913.72
Mar, 2034 117 $1,007.97 $573.32 $510.92 $2,092.21 $241,340.40
Apr, 2034 118 $1,005.58 $575.71 $510.92 $2,092.21 $240,764.69
May, 2034 119 $1,003.19 $578.11 $510.92 $2,092.21 $240,186.58
Jun, 2034 120 $1,000.78 $580.52 $510.92 $2,092.21 $239,606.07
Jul, 2034 121 $998.36 $582.94 $510.92 $2,092.21 $239,023.13
Aug, 2034 122 $995.93 $585.36 $510.92 $2,092.21 $238,437.77
Sep, 2034 123 $993.49 $587.80 $510.92 $2,092.21 $237,849.96
Oct, 2034 124 $991.04 $590.25 $510.92 $2,092.21 $237,259.71
Nov, 2034 125 $988.58 $592.71 $510.92 $2,092.21 $236,667.00
Dec, 2034 126 $986.11 $595.18 $510.92 $2,092.21 $236,071.82
Jan, 2035 127 $983.63 $597.66 $510.92 $2,092.21 $235,474.16
Feb, 2035 128 $981.14 $600.15 $510.92 $2,092.21 $234,874.00
Mar, 2035 129 $978.64 $602.65 $510.92 $2,092.21 $234,271.35
Apr, 2035 130 $976.13 $605.16 $510.92 $2,092.21 $233,666.19
May, 2035 131 $973.61 $607.68 $510.92 $2,092.21 $233,058.50
Jun, 2035 132 $971.08 $610.22 $510.92 $2,092.21 $232,448.29
Jul, 2035 133 $968.53 $612.76 $510.92 $2,092.21 $231,835.53
Aug, 2035 134 $965.98 $615.31 $510.92 $2,092.21 $231,220.21
Sep, 2035 135 $963.42 $617.88 $510.92 $2,092.21 $230,602.34
Oct, 2035 136 $960.84 $620.45 $510.92 $2,092.21 $229,981.89
Nov, 2035 137 $958.26 $623.04 $510.92 $2,092.21 $229,358.85
Dec, 2035 138 $955.66 $625.63 $510.92 $2,092.21 $228,733.22
Jan, 2036 139 $953.06 $628.24 $510.92 $2,092.21 $228,104.98
Feb, 2036 140 $950.44 $630.86 $510.92 $2,092.21 $227,474.12
Mar, 2036 141 $947.81 $633.49 $510.92 $2,092.21 $226,840.64
Apr, 2036 142 $945.17 $636.12 $510.92 $2,092.21 $226,204.51
May, 2036 143 $942.52 $638.78 $510.92 $2,092.21 $225,565.74
Jun, 2036 144 $939.86 $641.44 $510.92 $2,092.21 $224,924.30
Jul, 2036 145 $937.18 $644.11 $510.92 $2,092.21 $224,280.19
Aug, 2036 146 $934.50 $646.79 $510.92 $2,092.21 $223,633.40
Sep, 2036 147 $931.81 $649.49 $510.92 $2,092.21 $222,983.91
Oct, 2036 148 $929.10 $652.19 $510.92 $2,092.21 $222,331.72
Nov, 2036 149 $926.38 $654.91 $510.92 $2,092.21 $221,676.80
Dec, 2036 150 $923.65 $657.64 $510.92 $2,092.21 $221,019.16
Jan, 2037 151 $920.91 $660.38 $510.92 $2,092.21 $220,358.78
Feb, 2037 152 $918.16 $663.13 $510.92 $2,092.21 $219,695.65
Mar, 2037 153 $915.40 $665.90 $510.92 $2,092.21 $219,029.76
Apr, 2037 154 $912.62 $668.67 $510.92 $2,092.21 $218,361.09
May, 2037 155 $909.84 $671.46 $510.92 $2,092.21 $217,689.63
Jun, 2037 156 $907.04 $674.25 $510.92 $2,092.21 $217,015.38
Jul, 2037 157 $904.23 $677.06 $510.92 $2,092.21 $216,338.31
Aug, 2037 158 $901.41 $679.88 $510.92 $2,092.21 $215,658.43
Sep, 2037 159 $898.58 $682.72 $510.92 $2,092.21 $214,975.71
Oct, 2037 160 $895.73 $685.56 $510.92 $2,092.21 $214,290.15
Nov, 2037 161 $892.88 $688.42 $510.92 $2,092.21 $213,601.73
Dec, 2037 162 $890.01 $691.29 $510.92 $2,092.21 $212,910.44
Jan, 2038 163 $887.13 $694.17 $510.92 $2,092.21 $212,216.28
Feb, 2038 164 $884.23 $697.06 $510.92 $2,092.21 $211,519.22
Mar, 2038 165 $881.33 $699.96 $510.92 $2,092.21 $210,819.25
Apr, 2038 166 $878.41 $702.88 $510.92 $2,092.21 $210,116.37
May, 2038 167 $875.48 $705.81 $510.92 $2,092.21 $209,410.56
Jun, 2038 168 $872.54 $708.75 $510.92 $2,092.21 $208,701.81
Jul, 2038 169 $869.59 $711.70 $510.92 $2,092.21 $207,990.11
Aug, 2038 170 $866.63 $714.67 $510.92 $2,092.21 $207,275.44
Sep, 2038 171 $863.65 $717.65 $510.92 $2,092.21 $206,557.80
Oct, 2038 172 $860.66 $720.64 $510.92 $2,092.21 $205,837.16
Nov, 2038 173 $857.65 $723.64 $510.92 $2,092.21 $205,113.52
Dec, 2038 174 $854.64 $726.65 $510.92 $2,092.21 $204,386.87
Jan, 2039 175 $851.61 $729.68 $510.92 $2,092.21 $203,657.18
Feb, 2039 176 $848.57 $732.72 $510.92 $2,092.21 $202,924.46
Mar, 2039 177 $845.52 $735.78 $510.92 $2,092.21 $202,188.69
Apr, 2039 178 $842.45 $738.84 $510.92 $2,092.21 $201,449.84
May, 2039 179 $839.37 $741.92 $510.92 $2,092.21 $200,707.93
Jun, 2039 180 $836.28 $745.01 $510.92 $2,092.21 $199,962.91
Jul, 2039 181 $833.18 $748.12 $510.92 $2,092.21 $199,214.80
Aug, 2039 182 $830.06 $751.23 $510.92 $2,092.21 $198,463.57
Sep, 2039 183 $826.93 $754.36 $510.92 $2,092.21 $197,709.20
Oct, 2039 184 $823.79 $757.51 $510.92 $2,092.21 $196,951.70
Nov, 2039 185 $820.63 $760.66 $510.92 $2,092.21 $196,191.04
Dec, 2039 186 $817.46 $763.83 $510.92 $2,092.21 $195,427.21
Jan, 2040 187 $814.28 $767.01 $510.92 $2,092.21 $194,660.19
Feb, 2040 188 $811.08 $770.21 $510.92 $2,092.21 $193,889.98
Mar, 2040 189 $807.87 $773.42 $510.92 $2,092.21 $193,116.56
Apr, 2040 190 $804.65 $776.64 $510.92 $2,092.21 $192,339.92
May, 2040 191 $801.42 $779.88 $510.92 $2,092.21 $191,560.04
Jun, 2040 192 $798.17 $783.13 $510.92 $2,092.21 $190,776.92
Jul, 2040 193 $794.90 $786.39 $510.92 $2,092.21 $189,990.53
Aug, 2040 194 $791.63 $789.67 $510.92 $2,092.21 $189,200.86
Sep, 2040 195 $788.34 $792.96 $510.92 $2,092.21 $188,407.90
Oct, 2040 196 $785.03 $796.26 $510.92 $2,092.21 $187,611.64
Nov, 2040 197 $781.72 $799.58 $510.92 $2,092.21 $186,812.06
Dec, 2040 198 $778.38 $802.91 $510.92 $2,092.21 $186,009.15
Jan, 2041 199 $775.04 $806.26 $510.92 $2,092.21 $185,202.90
Feb, 2041 200 $771.68 $809.62 $510.92 $2,092.21 $184,393.28
Mar, 2041 201 $768.31 $812.99 $510.92 $2,092.21 $183,580.29
Apr, 2041 202 $764.92 $816.38 $510.92 $2,092.21 $182,763.92
May, 2041 203 $761.52 $819.78 $510.92 $2,092.21 $181,944.14
Jun, 2041 204 $758.10 $823.19 $510.92 $2,092.21 $181,120.95
Jul, 2041 205 $754.67 $826.62 $510.92 $2,092.21 $180,294.32
Aug, 2041 206 $751.23 $830.07 $510.92 $2,092.21 $179,464.25
Sep, 2041 207 $747.77 $833.53 $510.92 $2,092.21 $178,630.73
Oct, 2041 208 $744.29 $837.00 $510.92 $2,092.21 $177,793.73
Nov, 2041 209 $740.81 $840.49 $510.92 $2,092.21 $176,953.24
Dec, 2041 210 $737.31 $843.99 $510.92 $2,092.21 $176,109.25
Jan, 2042 211 $733.79 $847.51 $510.92 $2,092.21 $175,261.75
Feb, 2042 212 $730.26 $851.04 $510.92 $2,092.21 $174,410.71
Mar, 2042 213 $726.71 $854.58 $510.92 $2,092.21 $173,556.13
Apr, 2042 214 $723.15 $858.14 $510.92 $2,092.21 $172,697.98
May, 2042 215 $719.57 $861.72 $510.92 $2,092.21 $171,836.27
Jun, 2042 216 $715.98 $865.31 $510.92 $2,092.21 $170,970.96
Jul, 2042 217 $712.38 $868.91 $510.92 $2,092.21 $170,102.04
Aug, 2042 218 $708.76 $872.54 $510.92 $2,092.21 $169,229.51
Sep, 2042 219 $705.12 $876.17 $510.92 $2,092.21 $168,353.33
Oct, 2042 220 $701.47 $879.82 $510.92 $2,092.21 $167,473.51
Nov, 2042 221 $697.81 $883.49 $510.92 $2,092.21 $166,590.03
Dec, 2042 222 $694.13 $887.17 $510.92 $2,092.21 $165,702.86
Jan, 2043 223 $690.43 $890.87 $510.92 $2,092.21 $164,811.99
Feb, 2043 224 $686.72 $894.58 $510.92 $2,092.21 $163,917.41
Mar, 2043 225 $682.99 $898.30 $510.92 $2,092.21 $163,019.11
Apr, 2043 226 $679.25 $902.05 $510.92 $2,092.21 $162,117.06
May, 2043 227 $675.49 $905.81 $510.92 $2,092.21 $161,211.25
Jun, 2043 228 $671.71 $909.58 $510.92 $2,092.21 $160,301.67
Jul, 2043 229 $667.92 $913.37 $510.92 $2,092.21 $159,388.30
Aug, 2043 230 $664.12 $917.18 $510.92 $2,092.21 $158,471.13
Sep, 2043 231 $660.30 $921.00 $510.92 $2,092.21 $157,550.13
Oct, 2043 232 $656.46 $924.84 $510.92 $2,092.21 $156,625.30
Nov, 2043 233 $652.61 $928.69 $510.92 $2,092.21 $155,696.61
Dec, 2043 234 $648.74 $932.56 $510.92 $2,092.21 $154,764.05
Jan, 2044 235 $644.85 $936.44 $510.92 $2,092.21 $153,827.60
Feb, 2044 236 $640.95 $940.35 $510.92 $2,092.21 $152,887.26
Mar, 2044 237 $637.03 $944.26 $510.92 $2,092.21 $151,943.00
Apr, 2044 238 $633.10 $948.20 $510.92 $2,092.21 $150,994.80
May, 2044 239 $629.14 $952.15 $510.92 $2,092.21 $150,042.65
Jun, 2044 240 $625.18 $956.12 $510.92 $2,092.21 $149,086.53
Jul, 2044 241 $621.19 $960.10 $510.92 $2,092.21 $148,126.43
Aug, 2044 242 $617.19 $964.10 $510.92 $2,092.21 $147,162.33
Sep, 2044 243 $613.18 $968.12 $510.92 $2,092.21 $146,194.21
Oct, 2044 244 $609.14 $972.15 $510.92 $2,092.21 $145,222.06
Nov, 2044 245 $605.09 $976.20 $510.92 $2,092.21 $144,245.86
Dec, 2044 246 $601.02 $980.27 $510.92 $2,092.21 $143,265.59
Jan, 2045 247 $596.94 $984.35 $510.92 $2,092.21 $142,281.24
Feb, 2045 248 $592.84 $988.46 $510.92 $2,092.21 $141,292.78
Mar, 2045 249 $588.72 $992.57 $510.92 $2,092.21 $140,300.21
Apr, 2045 250 $584.58 $996.71 $510.92 $2,092.21 $139,303.50
May, 2045 251 $580.43 $1,000.86 $510.92 $2,092.21 $138,302.63
Jun, 2045 252 $576.26 $1,005.03 $510.92 $2,092.21 $137,297.60
Jul, 2045 253 $572.07 $1,009.22 $510.92 $2,092.21 $136,288.38
Aug, 2045 254 $567.87 $1,013.43 $510.92 $2,092.21 $135,274.96
Sep, 2045 255 $563.65 $1,017.65 $510.92 $2,092.21 $134,257.31
Oct, 2045 256 $559.41 $1,021.89 $510.92 $2,092.21 $133,235.42
Nov, 2045 257 $555.15 $1,026.15 $510.92 $2,092.21 $132,209.27
Dec, 2045 258 $550.87 $1,030.42 $510.92 $2,092.21 $131,178.85
Jan, 2046 259 $546.58 $1,034.72 $510.92 $2,092.21 $130,144.13
Feb, 2046 260 $542.27 $1,039.03 $510.92 $2,092.21 $129,105.11
Mar, 2046 261 $537.94 $1,043.36 $510.92 $2,092.21 $128,061.75
Apr, 2046 262 $533.59 $1,047.70 $510.92 $2,092.21 $127,014.05
May, 2046 263 $529.23 $1,052.07 $510.92 $2,092.21 $125,961.98
Jun, 2046 264 $524.84 $1,056.45 $510.92 $2,092.21 $124,905.53
Jul, 2046 265 $520.44 $1,060.85 $510.92 $2,092.21 $123,844.67
Aug, 2046 266 $516.02 $1,065.27 $510.92 $2,092.21 $122,779.40
Sep, 2046 267 $511.58 $1,069.71 $510.92 $2,092.21 $121,709.69
Oct, 2046 268 $507.12 $1,074.17 $510.92 $2,092.21 $120,635.51
Nov, 2046 269 $502.65 $1,078.65 $510.92 $2,092.21 $119,556.87
Dec, 2046 270 $498.15 $1,083.14 $510.92 $2,092.21 $118,473.73
Jan, 2047 271 $493.64 $1,087.65 $510.92 $2,092.21 $117,386.08
Feb, 2047 272 $489.11 $1,092.19 $510.92 $2,092.21 $116,293.89
Mar, 2047 273 $484.56 $1,096.74 $510.92 $2,092.21 $115,197.15
Apr, 2047 274 $479.99 $1,101.31 $510.92 $2,092.21 $114,095.85
May, 2047 275 $475.40 $1,105.89 $510.92 $2,092.21 $112,989.95
Jun, 2047 276 $470.79 $1,110.50 $510.92 $2,092.21 $111,879.45
Jul, 2047 277 $466.16 $1,115.13 $510.92 $2,092.21 $110,764.32
Aug, 2047 278 $461.52 $1,119.78 $510.92 $2,092.21 $109,644.55
Sep, 2047 279 $456.85 $1,124.44 $510.92 $2,092.21 $108,520.10
Oct, 2047 280 $452.17 $1,129.13 $510.92 $2,092.21 $107,390.98
Nov, 2047 281 $447.46 $1,133.83 $510.92 $2,092.21 $106,257.14
Dec, 2047 282 $442.74 $1,138.56 $510.92 $2,092.21 $105,118.59
Jan, 2048 283 $437.99 $1,143.30 $510.92 $2,092.21 $103,975.29
Feb, 2048 284 $433.23 $1,148.06 $510.92 $2,092.21 $102,827.23
Mar, 2048 285 $428.45 $1,152.85 $510.92 $2,092.21 $101,674.38
Apr, 2048 286 $423.64 $1,157.65 $510.92 $2,092.21 $100,516.73
May, 2048 287 $418.82 $1,162.47 $510.92 $2,092.21 $99,354.25
Jun, 2048 288 $413.98 $1,167.32 $510.92 $2,092.21 $98,186.94
Jul, 2048 289 $409.11 $1,172.18 $510.92 $2,092.21 $97,014.75
Aug, 2048 290 $404.23 $1,177.07 $510.92 $2,092.21 $95,837.69
Sep, 2048 291 $399.32 $1,181.97 $510.92 $2,092.21 $94,655.72
Oct, 2048 292 $394.40 $1,186.90 $510.92 $2,092.21 $93,468.82
Nov, 2048 293 $389.45 $1,191.84 $510.92 $2,092.21 $92,276.98
Dec, 2048 294 $384.49 $1,196.81 $510.92 $2,092.21 $91,080.18
Jan, 2049 295 $379.50 $1,201.79 $510.92 $2,092.21 $89,878.38
Feb, 2049 296 $374.49 $1,206.80 $510.92 $2,092.21 $88,671.58
Mar, 2049 297 $369.46 $1,211.83 $510.92 $2,092.21 $87,459.75
Apr, 2049 298 $364.42 $1,216.88 $510.92 $2,092.21 $86,242.87
May, 2049 299 $359.35 $1,221.95 $510.92 $2,092.21 $85,020.93
Jun, 2049 300 $354.25 $1,227.04 $510.92 $2,092.21 $83,793.89
Jul, 2049 301 $349.14 $1,232.15 $510.92 $2,092.21 $82,561.73
Aug, 2049 302 $344.01 $1,237.29 $510.92 $2,092.21 $81,324.45
Sep, 2049 303 $338.85 $1,242.44 $510.92 $2,092.21 $80,082.00
Oct, 2049 304 $333.68 $1,247.62 $510.92 $2,092.21 $78,834.38
Nov, 2049 305 $328.48 $1,252.82 $510.92 $2,092.21 $77,581.57
Dec, 2049 306 $323.26 $1,258.04 $510.92 $2,092.21 $76,323.53
Jan, 2050 307 $318.01 $1,263.28 $510.92 $2,092.21 $75,060.25
Feb, 2050 308 $312.75 $1,268.54 $510.92 $2,092.21 $73,791.71
Mar, 2050 309 $307.47 $1,273.83 $510.92 $2,092.21 $72,517.88
Apr, 2050 310 $302.16 $1,279.14 $510.92 $2,092.21 $71,238.74
May, 2050 311 $296.83 $1,284.47 $510.92 $2,092.21 $69,954.28
Jun, 2050 312 $291.48 $1,289.82 $510.92 $2,092.21 $68,664.46
Jul, 2050 313 $286.10 $1,295.19 $510.92 $2,092.21 $67,369.27
Aug, 2050 314 $280.71 $1,300.59 $510.92 $2,092.21 $66,068.68
Sep, 2050 315 $275.29 $1,306.01 $510.92 $2,092.21 $64,762.67
Oct, 2050 316 $269.84 $1,311.45 $510.92 $2,092.21 $63,451.22
Nov, 2050 317 $264.38 $1,316.91 $510.92 $2,092.21 $62,134.31
Dec, 2050 318 $258.89 $1,322.40 $510.92 $2,092.21 $60,811.91
Jan, 2051 319 $253.38 $1,327.91 $510.92 $2,092.21 $59,483.99
Feb, 2051 320 $247.85 $1,333.44 $510.92 $2,092.21 $58,150.55
Mar, 2051 321 $242.29 $1,339.00 $510.92 $2,092.21 $56,811.55
Apr, 2051 322 $236.71 $1,344.58 $510.92 $2,092.21 $55,466.97
May, 2051 323 $231.11 $1,350.18 $510.92 $2,092.21 $54,116.79
Jun, 2051 324 $225.49 $1,355.81 $510.92 $2,092.21 $52,760.98
Jul, 2051 325 $219.84 $1,361.46 $510.92 $2,092.21 $51,399.53
Aug, 2051 326 $214.16 $1,367.13 $510.92 $2,092.21 $50,032.40
Sep, 2051 327 $208.47 $1,372.83 $510.92 $2,092.21 $48,659.57
Oct, 2051 328 $202.75 $1,378.55 $510.92 $2,092.21 $47,281.03
Nov, 2051 329 $197.00 $1,384.29 $510.92 $2,092.21 $45,896.74
Dec, 2051 330 $191.24 $1,390.06 $510.92 $2,092.21 $44,506.68
Jan, 2052 331 $185.44 $1,395.85 $510.92 $2,092.21 $43,110.83
Feb, 2052 332 $179.63 $1,401.67 $510.92 $2,092.21 $41,709.16
Mar, 2052 333 $173.79 $1,407.51 $510.92 $2,092.21 $40,301.66
Apr, 2052 334 $167.92 $1,413.37 $510.92 $2,092.21 $38,888.29
May, 2052 335 $162.03 $1,419.26 $510.92 $2,092.21 $37,469.03
Jun, 2052 336 $156.12 $1,425.17 $510.92 $2,092.21 $36,043.85
Jul, 2052 337 $150.18 $1,431.11 $510.92 $2,092.21 $34,612.74
Aug, 2052 338 $144.22 $1,437.07 $510.92 $2,092.21 $33,175.67
Sep, 2052 339 $138.23 $1,443.06 $510.92 $2,092.21 $31,732.61
Oct, 2052 340 $132.22 $1,449.07 $510.92 $2,092.21 $30,283.53
Nov, 2052 341 $126.18 $1,455.11 $510.92 $2,092.21 $28,828.42
Dec, 2052 342 $120.12 $1,461.18 $510.92 $2,092.21 $27,367.24
Jan, 2053 343 $114.03 $1,467.26 $510.92 $2,092.21 $25,899.98
Feb, 2053 344 $107.92 $1,473.38 $510.92 $2,092.21 $24,426.60
Mar, 2053 345 $101.78 $1,479.52 $510.92 $2,092.21 $22,947.09
Apr, 2053 346 $95.61 $1,485.68 $510.92 $2,092.21 $21,461.41
May, 2053 347 $89.42 $1,491.87 $510.92 $2,092.21 $19,969.53
Jun, 2053 348 $83.21 $1,498.09 $510.92 $2,092.21 $18,471.45
Jul, 2053 349 $76.96 $1,504.33 $510.92 $2,092.21 $16,967.12
Aug, 2053 350 $70.70 $1,510.60 $510.92 $2,092.21 $15,456.52
Sep, 2053 351 $64.40 $1,516.89 $510.92 $2,092.21 $13,939.63
Oct, 2053 352 $58.08 $1,523.21 $510.92 $2,092.21 $12,416.41
Nov, 2053 353 $51.74 $1,529.56 $510.92 $2,092.21 $10,886.86
Dec, 2053 354 $45.36 $1,535.93 $510.92 $2,092.21 $9,350.92
Jan, 2054 355 $38.96 $1,542.33 $510.92 $2,092.21 $7,808.59
Feb, 2054 356 $32.54 $1,548.76 $510.92 $2,092.21 $6,259.83
Mar, 2054 357 $26.08 $1,555.21 $510.92 $2,092.21 $4,704.62
Apr, 2054 358 $19.60 $1,561.69 $510.92 $2,092.21 $3,142.93
May, 2054 359 $13.10 $1,568.20 $510.92 $2,092.21 $1,574.73
Jun, 2054 360 $6.56 $1,574.73 $510.92 $2,092.21 $0.00

Compare Monthly vs. Bi-weekly

Payment Frequency Monthly Bi-weekly
Payments / Year 12 26
Each Payment $2,092.21 $1,026.45
Total Extra Payments $0.00 $0.00
Total Interest $274,699.83 $224,140.62
Total Tax, Insurance, MIP & Fees $183,930.00 $154,454.04
Total Payment $767,195.83 $687,160.66
Total Savings $0 $80,035.17
Payoff Date Jun, 2054 Sep, 2049

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FHA Loan Calculator with PMI and Taxes

The FHA Loan Calculator with PMI and taxes is easy to use with breakdowns of every payment showing in the mortgage amortization schedule with monthly and biweekly payment options. The FHA amortization calculator also offers extra payment options that show you how much faster you can pay off the mortgage if you are making regular extra payments. The extra payment can be a one time payment, yearly, quarterly, or every payment (monthly or biweekly).


FHA Home Loan Calculator

The FHA mortgage calculator with taxes and insurance includes options for upfront and annual MIP. For conventional loans, there is an insurance called private mortgage insurance or PMI when your down payment is less than 20%. For FHA mortgages, there is something similar to PMI called the one time upfront MIP and Annual MIP. The one time upfront MIP is currently 1.75% of your base mortgage amount, and your final mortgage amount is equal to the base mortgage amount plus the one time upfront MIP. The rules on how to calculate Annual MIP is based on the base loan amount and loan-to-value or LTV ratio. The calculation changes over the years and is very complex. To keep the FHA loan mortgage calculator easier to use and understand, the calculator will simply ask you for an annual MIP and the cost will show up on every payment in the mortgage amortization schedule. Currently, the annual MIP rate is 0.85% for a 30 year mortgage and 0.45% for 15 year mortgage. The calculator should really be called the FHA mortgage payment calculator with MIP and taxes instead of PMI.


What is an FHA loan?

FHA loans are Federal Housing Administration mortgages backed by the government. It was created by the government to help first-time buyers with lower credit scores and down payments who can't afford conventional mortgages. FHA loans are popular especially for first-time buyers because they are designed for low to mid-income borrowers and the requirements are lower compared to conventional loans. Although FHA loans are insured by the government, they are actually offered by lenders who were approved by the Federal Housing Administration.


How do FHA loans work?

FHA loans are fixed interest rate mortgages with 15 and 30-year terms. While conventional mortgages require a large down payment and a good credit score, FHA loans have much lower requirements, anyone with a credit score of 580 may be qualified and it only requires a 3.5% down payment. In other words, you can borrow up to 96.5% of the value of your house with an FHA loan. However, there is one downside to FHA loans. That is FHA loans require borrowers to pay FHA mortgage insurance. The mortgage insurance to protect the lender to recoup losses in case the borrower defaults.


Whereas conventional mortgages require borrowers to pay a PMI, or private mortgage insurance when borrowers make a down payment that is less than 20%, the FHA loan requires borrowers to pay two mortgage insurance premiums.

  • Upfront mortgage insurance - also known as MIP, is a one-time payment that borrowers need to pay when they get the loan. The MIP is 1.75% of the loan amount and the borrowers have the option to roll this fee into their mortgage.

  • Annual mortgage insurance - is a premium with an annual rate of 0.45% to 1.05% of the loan amount depending on the mortgage terms, down payment, and how much you are borrowing. Borrowers will pay this annual mortgage insurance monthly.

For example, if you are getting a mortgage of $100,000, your MIP fee will be $1,750, and the annual mortgage insurance will be in the range of $450 to $1,050 each year. Since you are paying monthly for the annual mortgage insurance, it will cost you about  $37.50 to $87.50 each month. Borrowers will pay off the annual mortgage insurance in 11 years if their down payment is at least 10% where their LTV is less than 90%, those who put down less than 10% will continue to pay the annual mortgage insurance for the life of the loan.


Types of FHA loans

There are 5 types of FHA loans.

  • Traditional Mortgage - a mortgage for a primary residency.

  • Home Equity Conversion Mortgage (HECM) - a reverse mortgage for homeowners age 62+ with significant equity in their home to exchange equity for cash.

  • 203(k) Mortgage - helps borrowers to buy a house and make home improvements all within the same mortgage program.

  • Energy Efficient Mortgage (EEM) - helps borrowers to buy a house with extra funds to install energy efficient equipment intended to lower their utility bills.

  • Section 245(a) Loan - is a Graduated Payment Mortgage (GPM) intended for borrowers who pay lower initial monthly payments and increase gradually as they expect their income to rise over time.

Pros and cons of FHA loans

Following are the pros and cons of FHA loans compared to conventional loans.

Pros

  • Lower Down Payment - Down payment as little as 3.5% if your credit score is at least 580.

  • Lower Credit Score - If your credit score is below 580, you can still get an FHA loan if you put in at least a 10% down payment. Most conventional mortgage lenders required a minimum credit score of 620.

  • Higher DTI - Debt to income ratio as high as 50%. Most convention lenders do not accept borrowers with DTI over 43%.

Cons

  • Higher mortgage insurance- The one-time mortgage insurance or MIP of 1.75% is required regardless of your down payment whereas conventional mortgage doesn't require mortgage insurance if your down payment is at least 20%. For FHA loans, the annual mortgage insurance lasts 11 years if your down payment is at least 10%, and the whole loan term if your down payment is less than 10%. For a conventional mortgage, borrowers stop paying for private mortgage insurance once their equity in the house exceeds 20%, or LTV less than 80%.

  • Houses must meet higher safety requirements - Strict government rules for FHA housing where the house must meet health and safety standards.

  • Primary residence only - home purchase for primary residence only, you can't use FHA loans for investment purposes.


Should I get an FHA loan?

While FHA loans have a lower standard than conventional mortgages and are easier to get, most people end up paying more on interest and mortgage insurance. Whether you should get an FHA loan depends on a few factors.

  • Is your credit score good? - If you have a credit score above 620 and can afford the down payment for a conventional mortgage, you may not want to get an FHA loan. Some conventional lenders accept a minimum 3% down payment if your credit score is in the high 600's. If your credit score is around 580, you can consider an FHA loan, but then you will probably need to pay a higher interest rate. If your credit score is below 580, you will need to put down at least 10% for FHA loans.

  • Can you afford the 10% down payment? - If you can afford a 10% down payment with a decent credit score, you may try to get a conventional mortgage. With a conventional mortgage, you only have to pay the PMI or private mortgage insurance until your equity exceeds 20%, whereas an FHA loan requires you to pay the mortgage insurance for at least 11 years. If you put down less than 10% for an FHA loan, then you will have to pay the mortgage insurance for the life of the loan.

  • DTI - Is your debt to income ratio above 43%? Most conventional mortgage lenders don't approve borrowers with a DTI ratio above 43%. The DTI standard for FHA loans is 50%. If your DTI ratio is above 43%, but below 50%, you can qualify for an FHA loan.

The bottom line is that the interest rate is usually lower for conventional mortgages, if you qualify for a conventional mortgage, go for it.


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FHA Loan Closing Costs Calculator

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