FHA 203K Loan Calculator

FHA 203K Loan Calculator to calculate the monthly payment for FHA 203K loan. The rehab calculator is useful for homebuyers who need to get a mortgage to buy a house and that covers repair and renovation costs.

Payment Date	Payment #	Interest	Principal	Tax, Insurance, MIP & Fees	Total Payment	Balance
FHA 203K Mortgage Calculator
Home Value:			$300,000.00
Mortgage Amount:			$294,566.00
Monthly Principal & Interest:			$1,581.29
Monthly Extra Payment:			$0.00
Monthly Property Tax:			$191.67
Monthly Home Insurance:			$57.50
Monthly MIP:			$205.06
Monthly HOA Fees:			$0.00
Total Monthly Payment:			$2,035.52
Total # Of Payments:			360
Start Date:			Jun, 2023
Payoff Date:			May, 2053
Down Payment:			$10,500.00
Principal (includes UFMIP):			$294,566.00
Total Extra Payment:			$0.00
Total Interest Paid:			$274,699.83
Total Tax, Insurance, MIP and Fees:			$163,522.50
Total of all Payments:			$743,288.33
FHA 203K Loan Amortization Schedule
Jun, 2023	1	$1,227.36	$353.94	$454.23	$2,035.52	$294,212.06
Jul, 2023	2	$1,225.88	$355.41	$454.23	$2,035.52	$293,856.65
Aug, 2023	3	$1,224.40	$356.89	$454.23	$2,035.52	$293,499.76
Sep, 2023	4	$1,222.92	$358.38	$454.23	$2,035.52	$293,141.38
Oct, 2023	5	$1,221.42	$359.87	$454.23	$2,035.52	$292,781.51
Nov, 2023	6	$1,219.92	$361.37	$454.23	$2,035.52	$292,420.14
Dec, 2023	7	$1,218.42	$362.88	$454.23	$2,035.52	$292,057.27
Jan, 2024	8	$1,216.91	$364.39	$454.23	$2,035.52	$291,692.88
Feb, 2024	9	$1,215.39	$365.91	$454.23	$2,035.52	$291,326.97
Mar, 2024	10	$1,213.86	$367.43	$454.23	$2,035.52	$290,959.54
Apr, 2024	11	$1,212.33	$368.96	$454.23	$2,035.52	$290,590.58
May, 2024	12	$1,210.79	$370.50	$454.23	$2,035.52	$290,220.08
Jun, 2024	13	$1,209.25	$372.04	$454.23	$2,035.52	$289,848.03
Jul, 2024	14	$1,207.70	$373.59	$454.23	$2,035.52	$289,474.44
Aug, 2024	15	$1,206.14	$375.15	$454.23	$2,035.52	$289,099.29
Sep, 2024	16	$1,204.58	$376.71	$454.23	$2,035.52	$288,722.57
Oct, 2024	17	$1,203.01	$378.28	$454.23	$2,035.52	$288,344.29
Nov, 2024	18	$1,201.43	$379.86	$454.23	$2,035.52	$287,964.43
Dec, 2024	19	$1,199.85	$381.44	$454.23	$2,035.52	$287,582.99
Jan, 2025	20	$1,198.26	$383.03	$454.23	$2,035.52	$287,199.96
Feb, 2025	21	$1,196.67	$384.63	$454.23	$2,035.52	$286,815.33
Mar, 2025	22	$1,195.06	$386.23	$454.23	$2,035.52	$286,429.10
Apr, 2025	23	$1,193.45	$387.84	$454.23	$2,035.52	$286,041.26
May, 2025	24	$1,191.84	$389.46	$454.23	$2,035.52	$285,651.80
Jun, 2025	25	$1,190.22	$391.08	$454.23	$2,035.52	$285,260.73
Jul, 2025	26	$1,188.59	$392.71	$454.23	$2,035.52	$284,868.02
Aug, 2025	27	$1,186.95	$394.34	$454.23	$2,035.52	$284,473.68
Sep, 2025	28	$1,185.31	$395.99	$454.23	$2,035.52	$284,077.69
Oct, 2025	29	$1,183.66	$397.64	$454.23	$2,035.52	$283,680.05
Nov, 2025	30	$1,182.00	$399.29	$454.23	$2,035.52	$283,280.76
Dec, 2025	31	$1,180.34	$400.96	$454.23	$2,035.52	$282,879.80
Jan, 2026	32	$1,178.67	$402.63	$454.23	$2,035.52	$282,477.17
Feb, 2026	33	$1,176.99	$404.31	$454.23	$2,035.52	$282,072.87
Mar, 2026	34	$1,175.30	$405.99	$454.23	$2,035.52	$281,666.88
Apr, 2026	35	$1,173.61	$407.68	$454.23	$2,035.52	$281,259.19
May, 2026	36	$1,171.91	$409.38	$454.23	$2,035.52	$280,849.81
Jun, 2026	37	$1,170.21	$411.09	$454.23	$2,035.52	$280,438.73
Jul, 2026	38	$1,168.49	$412.80	$454.23	$2,035.52	$280,025.93
Aug, 2026	39	$1,166.77	$414.52	$454.23	$2,035.52	$279,611.41
Sep, 2026	40	$1,165.05	$416.25	$454.23	$2,035.52	$279,195.16
Oct, 2026	41	$1,163.31	$417.98	$454.23	$2,035.52	$278,777.18
Nov, 2026	42	$1,161.57	$419.72	$454.23	$2,035.52	$278,357.46
Dec, 2026	43	$1,159.82	$421.47	$454.23	$2,035.52	$277,935.99
Jan, 2027	44	$1,158.07	$423.23	$454.23	$2,035.52	$277,512.76
Feb, 2027	45	$1,156.30	$424.99	$454.23	$2,035.52	$277,087.77
Mar, 2027	46	$1,154.53	$426.76	$454.23	$2,035.52	$276,661.01
Apr, 2027	47	$1,152.75	$428.54	$454.23	$2,035.52	$276,232.47
May, 2027	48	$1,150.97	$430.33	$454.23	$2,035.52	$275,802.14
Jun, 2027	49	$1,149.18	$432.12	$454.23	$2,035.52	$275,370.02
Jul, 2027	50	$1,147.38	$433.92	$454.23	$2,035.52	$274,936.10
Aug, 2027	51	$1,145.57	$435.73	$454.23	$2,035.52	$274,500.38
Sep, 2027	52	$1,143.75	$437.54	$454.23	$2,035.52	$274,062.84
Oct, 2027	53	$1,141.93	$439.37	$454.23	$2,035.52	$273,623.47
Nov, 2027	54	$1,140.10	$441.20	$454.23	$2,035.52	$273,182.27
Dec, 2027	55	$1,138.26	$443.03	$454.23	$2,035.52	$272,739.24
Jan, 2028	56	$1,136.41	$444.88	$454.23	$2,035.52	$272,294.36
Feb, 2028	57	$1,134.56	$446.73	$454.23	$2,035.52	$271,847.62
Mar, 2028	58	$1,132.70	$448.60	$454.23	$2,035.52	$271,399.03
Apr, 2028	59	$1,130.83	$450.46	$454.23	$2,035.52	$270,948.56
May, 2028	60	$1,128.95	$452.34	$454.23	$2,035.52	$270,496.22
Jun, 2028	61	$1,127.07	$454.23	$454.23	$2,035.52	$270,042.00
Jul, 2028	62	$1,125.17	$456.12	$454.23	$2,035.52	$269,585.88
Aug, 2028	63	$1,123.27	$458.02	$454.23	$2,035.52	$269,127.86
Sep, 2028	64	$1,121.37	$459.93	$454.23	$2,035.52	$268,667.93
Oct, 2028	65	$1,119.45	$461.84	$454.23	$2,035.52	$268,206.09
Nov, 2028	66	$1,117.53	$463.77	$454.23	$2,035.52	$267,742.32
Dec, 2028	67	$1,115.59	$465.70	$454.23	$2,035.52	$267,276.62
Jan, 2029	68	$1,113.65	$467.64	$454.23	$2,035.52	$266,808.97
Feb, 2029	69	$1,111.70	$469.59	$454.23	$2,035.52	$266,339.38
Mar, 2029	70	$1,109.75	$471.55	$454.23	$2,035.52	$265,867.84
Apr, 2029	71	$1,107.78	$473.51	$454.23	$2,035.52	$265,394.33
May, 2029	72	$1,105.81	$475.48	$454.23	$2,035.52	$264,918.84
Jun, 2029	73	$1,103.83	$477.47	$454.23	$2,035.52	$264,441.38
Jul, 2029	74	$1,101.84	$479.45	$454.23	$2,035.52	$263,961.92
Aug, 2029	75	$1,099.84	$481.45	$454.23	$2,035.52	$263,480.47
Sep, 2029	76	$1,097.84	$483.46	$454.23	$2,035.52	$262,997.01
Oct, 2029	77	$1,095.82	$485.47	$454.23	$2,035.52	$262,511.54
Nov, 2029	78	$1,093.80	$487.50	$454.23	$2,035.52	$262,024.04
Dec, 2029	79	$1,091.77	$489.53	$454.23	$2,035.52	$261,534.51
Jan, 2030	80	$1,089.73	$491.57	$454.23	$2,035.52	$261,042.95
Feb, 2030	81	$1,087.68	$493.62	$454.23	$2,035.52	$260,549.33
Mar, 2030	82	$1,085.62	$495.67	$454.23	$2,035.52	$260,053.66
Apr, 2030	83	$1,083.56	$497.74	$454.23	$2,035.52	$259,555.92
May, 2030	84	$1,081.48	$499.81	$454.23	$2,035.52	$259,056.11
Jun, 2030	85	$1,079.40	$501.89	$454.23	$2,035.52	$258,554.22
Jul, 2030	86	$1,077.31	$503.98	$454.23	$2,035.52	$258,050.24
Aug, 2030	87	$1,075.21	$506.08	$454.23	$2,035.52	$257,544.15
Sep, 2030	88	$1,073.10	$508.19	$454.23	$2,035.52	$257,035.96
Oct, 2030	89	$1,070.98	$510.31	$454.23	$2,035.52	$256,525.65
Nov, 2030	90	$1,068.86	$512.44	$454.23	$2,035.52	$256,013.21
Dec, 2030	91	$1,066.72	$514.57	$454.23	$2,035.52	$255,498.64
Jan, 2031	92	$1,064.58	$516.72	$454.23	$2,035.52	$254,981.92
Feb, 2031	93	$1,062.42	$518.87	$454.23	$2,035.52	$254,463.05
Mar, 2031	94	$1,060.26	$521.03	$454.23	$2,035.52	$253,942.02
Apr, 2031	95	$1,058.09	$523.20	$454.23	$2,035.52	$253,418.82
May, 2031	96	$1,055.91	$525.38	$454.23	$2,035.52	$252,893.44
Jun, 2031	97	$1,053.72	$527.57	$454.23	$2,035.52	$252,365.86
Jul, 2031	98	$1,051.52	$529.77	$454.23	$2,035.52	$251,836.09
Aug, 2031	99	$1,049.32	$531.98	$454.23	$2,035.52	$251,304.12
Sep, 2031	100	$1,047.10	$534.19	$454.23	$2,035.52	$250,769.92
Oct, 2031	101	$1,044.87	$536.42	$454.23	$2,035.52	$250,233.50
Nov, 2031	102	$1,042.64	$538.65	$454.23	$2,035.52	$249,694.85
Dec, 2031	103	$1,040.40	$540.90	$454.23	$2,035.52	$249,153.95
Jan, 2032	104	$1,038.14	$543.15	$454.23	$2,035.52	$248,610.80
Feb, 2032	105	$1,035.88	$545.42	$454.23	$2,035.52	$248,065.38
Mar, 2032	106	$1,033.61	$547.69	$454.23	$2,035.52	$247,517.70
Apr, 2032	107	$1,031.32	$549.97	$454.23	$2,035.52	$246,967.73
May, 2032	108	$1,029.03	$552.26	$454.23	$2,035.52	$246,415.46
Jun, 2032	109	$1,026.73	$554.56	$454.23	$2,035.52	$245,860.90
Jul, 2032	110	$1,024.42	$556.87	$454.23	$2,035.52	$245,304.03
Aug, 2032	111	$1,022.10	$559.19	$454.23	$2,035.52	$244,744.83
Sep, 2032	112	$1,019.77	$561.52	$454.23	$2,035.52	$244,183.31
Oct, 2032	113	$1,017.43	$563.86	$454.23	$2,035.52	$243,619.45
Nov, 2032	114	$1,015.08	$566.21	$454.23	$2,035.52	$243,053.23
Dec, 2032	115	$1,012.72	$568.57	$454.23	$2,035.52	$242,484.66
Jan, 2033	116	$1,010.35	$570.94	$454.23	$2,035.52	$241,913.72
Feb, 2033	117	$1,007.97	$573.32	$454.23	$2,035.52	$241,340.40
Mar, 2033	118	$1,005.58	$575.71	$454.23	$2,035.52	$240,764.69
Apr, 2033	119	$1,003.19	$578.11	$454.23	$2,035.52	$240,186.58
May, 2033	120	$1,000.78	$580.52	$454.23	$2,035.52	$239,606.07
Jun, 2033	121	$998.36	$582.94	$454.23	$2,035.52	$239,023.13
Jul, 2033	122	$995.93	$585.36	$454.23	$2,035.52	$238,437.77
Aug, 2033	123	$993.49	$587.80	$454.23	$2,035.52	$237,849.96
Sep, 2033	124	$991.04	$590.25	$454.23	$2,035.52	$237,259.71
Oct, 2033	125	$988.58	$592.71	$454.23	$2,035.52	$236,667.00
Nov, 2033	126	$986.11	$595.18	$454.23	$2,035.52	$236,071.82
Dec, 2033	127	$983.63	$597.66	$454.23	$2,035.52	$235,474.16
Jan, 2034	128	$981.14	$600.15	$454.23	$2,035.52	$234,874.00
Feb, 2034	129	$978.64	$602.65	$454.23	$2,035.52	$234,271.35
Mar, 2034	130	$976.13	$605.16	$454.23	$2,035.52	$233,666.19
Apr, 2034	131	$973.61	$607.68	$454.23	$2,035.52	$233,058.50
May, 2034	132	$971.08	$610.22	$454.23	$2,035.52	$232,448.29
Jun, 2034	133	$968.53	$612.76	$454.23	$2,035.52	$231,835.53
Jul, 2034	134	$965.98	$615.31	$454.23	$2,035.52	$231,220.21
Aug, 2034	135	$963.42	$617.88	$454.23	$2,035.52	$230,602.34
Sep, 2034	136	$960.84	$620.45	$454.23	$2,035.52	$229,981.89
Oct, 2034	137	$958.26	$623.04	$454.23	$2,035.52	$229,358.85
Nov, 2034	138	$955.66	$625.63	$454.23	$2,035.52	$228,733.22
Dec, 2034	139	$953.06	$628.24	$454.23	$2,035.52	$228,104.98
Jan, 2035	140	$950.44	$630.86	$454.23	$2,035.52	$227,474.12
Feb, 2035	141	$947.81	$633.49	$454.23	$2,035.52	$226,840.64
Mar, 2035	142	$945.17	$636.12	$454.23	$2,035.52	$226,204.51
Apr, 2035	143	$942.52	$638.78	$454.23	$2,035.52	$225,565.74
May, 2035	144	$939.86	$641.44	$454.23	$2,035.52	$224,924.30
Jun, 2035	145	$937.18	$644.11	$454.23	$2,035.52	$224,280.19
Jul, 2035	146	$934.50	$646.79	$454.23	$2,035.52	$223,633.40
Aug, 2035	147	$931.81	$649.49	$454.23	$2,035.52	$222,983.91
Sep, 2035	148	$929.10	$652.19	$454.23	$2,035.52	$222,331.72
Oct, 2035	149	$926.38	$654.91	$454.23	$2,035.52	$221,676.80
Nov, 2035	150	$923.65	$657.64	$454.23	$2,035.52	$221,019.16
Dec, 2035	151	$920.91	$660.38	$454.23	$2,035.52	$220,358.78
Jan, 2036	152	$918.16	$663.13	$454.23	$2,035.52	$219,695.65
Feb, 2036	153	$915.40	$665.90	$454.23	$2,035.52	$219,029.76
Mar, 2036	154	$912.62	$668.67	$454.23	$2,035.52	$218,361.09
Apr, 2036	155	$909.84	$671.46	$454.23	$2,035.52	$217,689.63
May, 2036	156	$907.04	$674.25	$454.23	$2,035.52	$217,015.38
Jun, 2036	157	$904.23	$677.06	$454.23	$2,035.52	$216,338.31
Jul, 2036	158	$901.41	$679.88	$454.23	$2,035.52	$215,658.43
Aug, 2036	159	$898.58	$682.72	$454.23	$2,035.52	$214,975.71
Sep, 2036	160	$895.73	$685.56	$454.23	$2,035.52	$214,290.15
Oct, 2036	161	$892.88	$688.42	$454.23	$2,035.52	$213,601.73
Nov, 2036	162	$890.01	$691.29	$454.23	$2,035.52	$212,910.44
Dec, 2036	163	$887.13	$694.17	$454.23	$2,035.52	$212,216.28
Jan, 2037	164	$884.23	$697.06	$454.23	$2,035.52	$211,519.22
Feb, 2037	165	$881.33	$699.96	$454.23	$2,035.52	$210,819.25
Mar, 2037	166	$878.41	$702.88	$454.23	$2,035.52	$210,116.37
Apr, 2037	167	$875.48	$705.81	$454.23	$2,035.52	$209,410.56
May, 2037	168	$872.54	$708.75	$454.23	$2,035.52	$208,701.81
Jun, 2037	169	$869.59	$711.70	$454.23	$2,035.52	$207,990.11
Jul, 2037	170	$866.63	$714.67	$454.23	$2,035.52	$207,275.44
Aug, 2037	171	$863.65	$717.65	$454.23	$2,035.52	$206,557.80
Sep, 2037	172	$860.66	$720.64	$454.23	$2,035.52	$205,837.16
Oct, 2037	173	$857.65	$723.64	$454.23	$2,035.52	$205,113.52
Nov, 2037	174	$854.64	$726.65	$454.23	$2,035.52	$204,386.87
Dec, 2037	175	$851.61	$729.68	$454.23	$2,035.52	$203,657.18
Jan, 2038	176	$848.57	$732.72	$454.23	$2,035.52	$202,924.46
Feb, 2038	177	$845.52	$735.78	$454.23	$2,035.52	$202,188.69
Mar, 2038	178	$842.45	$738.84	$454.23	$2,035.52	$201,449.84
Apr, 2038	179	$839.37	$741.92	$454.23	$2,035.52	$200,707.93
May, 2038	180	$836.28	$745.01	$454.23	$2,035.52	$199,962.91
Jun, 2038	181	$833.18	$748.12	$454.23	$2,035.52	$199,214.80
Jul, 2038	182	$830.06	$751.23	$454.23	$2,035.52	$198,463.57
Aug, 2038	183	$826.93	$754.36	$454.23	$2,035.52	$197,709.20
Sep, 2038	184	$823.79	$757.51	$454.23	$2,035.52	$196,951.70
Oct, 2038	185	$820.63	$760.66	$454.23	$2,035.52	$196,191.04
Nov, 2038	186	$817.46	$763.83	$454.23	$2,035.52	$195,427.21
Dec, 2038	187	$814.28	$767.01	$454.23	$2,035.52	$194,660.19
Jan, 2039	188	$811.08	$770.21	$454.23	$2,035.52	$193,889.98
Feb, 2039	189	$807.87	$773.42	$454.23	$2,035.52	$193,116.56
Mar, 2039	190	$804.65	$776.64	$454.23	$2,035.52	$192,339.92
Apr, 2039	191	$801.42	$779.88	$454.23	$2,035.52	$191,560.04
May, 2039	192	$798.17	$783.13	$454.23	$2,035.52	$190,776.92
Jun, 2039	193	$794.90	$786.39	$454.23	$2,035.52	$189,990.53
Jul, 2039	194	$791.63	$789.67	$454.23	$2,035.52	$189,200.86
Aug, 2039	195	$788.34	$792.96	$454.23	$2,035.52	$188,407.90
Sep, 2039	196	$785.03	$796.26	$454.23	$2,035.52	$187,611.64
Oct, 2039	197	$781.72	$799.58	$454.23	$2,035.52	$186,812.06
Nov, 2039	198	$778.38	$802.91	$454.23	$2,035.52	$186,009.15
Dec, 2039	199	$775.04	$806.26	$454.23	$2,035.52	$185,202.90
Jan, 2040	200	$771.68	$809.62	$454.23	$2,035.52	$184,393.28
Feb, 2040	201	$768.31	$812.99	$454.23	$2,035.52	$183,580.29
Mar, 2040	202	$764.92	$816.38	$454.23	$2,035.52	$182,763.92
Apr, 2040	203	$761.52	$819.78	$454.23	$2,035.52	$181,944.14
May, 2040	204	$758.10	$823.19	$454.23	$2,035.52	$181,120.95
Jun, 2040	205	$754.67	$826.62	$454.23	$2,035.52	$180,294.32
Jul, 2040	206	$751.23	$830.07	$454.23	$2,035.52	$179,464.25
Aug, 2040	207	$747.77	$833.53	$454.23	$2,035.52	$178,630.73
Sep, 2040	208	$744.29	$837.00	$454.23	$2,035.52	$177,793.73
Oct, 2040	209	$740.81	$840.49	$454.23	$2,035.52	$176,953.24
Nov, 2040	210	$737.31	$843.99	$454.23	$2,035.52	$176,109.25
Dec, 2040	211	$733.79	$847.51	$454.23	$2,035.52	$175,261.75
Jan, 2041	212	$730.26	$851.04	$454.23	$2,035.52	$174,410.71
Feb, 2041	213	$726.71	$854.58	$454.23	$2,035.52	$173,556.13
Mar, 2041	214	$723.15	$858.14	$454.23	$2,035.52	$172,697.98
Apr, 2041	215	$719.57	$861.72	$454.23	$2,035.52	$171,836.27
May, 2041	216	$715.98	$865.31	$454.23	$2,035.52	$170,970.96
Jun, 2041	217	$712.38	$868.91	$454.23	$2,035.52	$170,102.04
Jul, 2041	218	$708.76	$872.54	$454.23	$2,035.52	$169,229.51
Aug, 2041	219	$705.12	$876.17	$454.23	$2,035.52	$168,353.33
Sep, 2041	220	$701.47	$879.82	$454.23	$2,035.52	$167,473.51
Oct, 2041	221	$697.81	$883.49	$454.23	$2,035.52	$166,590.03
Nov, 2041	222	$694.13	$887.17	$454.23	$2,035.52	$165,702.86
Dec, 2041	223	$690.43	$890.87	$454.23	$2,035.52	$164,811.99
Jan, 2042	224	$686.72	$894.58	$454.23	$2,035.52	$163,917.41
Feb, 2042	225	$682.99	$898.30	$454.23	$2,035.52	$163,019.11
Mar, 2042	226	$679.25	$902.05	$454.23	$2,035.52	$162,117.06
Apr, 2042	227	$675.49	$905.81	$454.23	$2,035.52	$161,211.25
May, 2042	228	$671.71	$909.58	$454.23	$2,035.52	$160,301.67
Jun, 2042	229	$667.92	$913.37	$454.23	$2,035.52	$159,388.30
Jul, 2042	230	$664.12	$917.18	$454.23	$2,035.52	$158,471.13
Aug, 2042	231	$660.30	$921.00	$454.23	$2,035.52	$157,550.13
Sep, 2042	232	$656.46	$924.84	$454.23	$2,035.52	$156,625.30
Oct, 2042	233	$652.61	$928.69	$454.23	$2,035.52	$155,696.61
Nov, 2042	234	$648.74	$932.56	$454.23	$2,035.52	$154,764.05
Dec, 2042	235	$644.85	$936.44	$454.23	$2,035.52	$153,827.60
Jan, 2043	236	$640.95	$940.35	$454.23	$2,035.52	$152,887.26
Feb, 2043	237	$637.03	$944.26	$454.23	$2,035.52	$151,943.00
Mar, 2043	238	$633.10	$948.20	$454.23	$2,035.52	$150,994.80
Apr, 2043	239	$629.14	$952.15	$454.23	$2,035.52	$150,042.65
May, 2043	240	$625.18	$956.12	$454.23	$2,035.52	$149,086.53
Jun, 2043	241	$621.19	$960.10	$454.23	$2,035.52	$148,126.43
Jul, 2043	242	$617.19	$964.10	$454.23	$2,035.52	$147,162.33
Aug, 2043	243	$613.18	$968.12	$454.23	$2,035.52	$146,194.21
Sep, 2043	244	$609.14	$972.15	$454.23	$2,035.52	$145,222.06
Oct, 2043	245	$605.09	$976.20	$454.23	$2,035.52	$144,245.86
Nov, 2043	246	$601.02	$980.27	$454.23	$2,035.52	$143,265.59
Dec, 2043	247	$596.94	$984.35	$454.23	$2,035.52	$142,281.24
Jan, 2044	248	$592.84	$988.46	$454.23	$2,035.52	$141,292.78
Feb, 2044	249	$588.72	$992.57	$454.23	$2,035.52	$140,300.21
Mar, 2044	250	$584.58	$996.71	$454.23	$2,035.52	$139,303.50
Apr, 2044	251	$580.43	$1,000.86	$454.23	$2,035.52	$138,302.63
May, 2044	252	$576.26	$1,005.03	$454.23	$2,035.52	$137,297.60
Jun, 2044	253	$572.07	$1,009.22	$454.23	$2,035.52	$136,288.38
Jul, 2044	254	$567.87	$1,013.43	$454.23	$2,035.52	$135,274.96
Aug, 2044	255	$563.65	$1,017.65	$454.23	$2,035.52	$134,257.31
Sep, 2044	256	$559.41	$1,021.89	$454.23	$2,035.52	$133,235.42
Oct, 2044	257	$555.15	$1,026.15	$454.23	$2,035.52	$132,209.27
Nov, 2044	258	$550.87	$1,030.42	$454.23	$2,035.52	$131,178.85
Dec, 2044	259	$546.58	$1,034.72	$454.23	$2,035.52	$130,144.13
Jan, 2045	260	$542.27	$1,039.03	$454.23	$2,035.52	$129,105.11
Feb, 2045	261	$537.94	$1,043.36	$454.23	$2,035.52	$128,061.75
Mar, 2045	262	$533.59	$1,047.70	$454.23	$2,035.52	$127,014.05
Apr, 2045	263	$529.23	$1,052.07	$454.23	$2,035.52	$125,961.98
May, 2045	264	$524.84	$1,056.45	$454.23	$2,035.52	$124,905.53
Jun, 2045	265	$520.44	$1,060.85	$454.23	$2,035.52	$123,844.67
Jul, 2045	266	$516.02	$1,065.27	$454.23	$2,035.52	$122,779.40
Aug, 2045	267	$511.58	$1,069.71	$454.23	$2,035.52	$121,709.69
Sep, 2045	268	$507.12	$1,074.17	$454.23	$2,035.52	$120,635.51
Oct, 2045	269	$502.65	$1,078.65	$454.23	$2,035.52	$119,556.87
Nov, 2045	270	$498.15	$1,083.14	$454.23	$2,035.52	$118,473.73
Dec, 2045	271	$493.64	$1,087.65	$454.23	$2,035.52	$117,386.08
Jan, 2046	272	$489.11	$1,092.19	$454.23	$2,035.52	$116,293.89
Feb, 2046	273	$484.56	$1,096.74	$454.23	$2,035.52	$115,197.15
Mar, 2046	274	$479.99	$1,101.31	$454.23	$2,035.52	$114,095.85
Apr, 2046	275	$475.40	$1,105.89	$454.23	$2,035.52	$112,989.95
May, 2046	276	$470.79	$1,110.50	$454.23	$2,035.52	$111,879.45
Jun, 2046	277	$466.16	$1,115.13	$454.23	$2,035.52	$110,764.32
Jul, 2046	278	$461.52	$1,119.78	$454.23	$2,035.52	$109,644.55
Aug, 2046	279	$456.85	$1,124.44	$454.23	$2,035.52	$108,520.10
Sep, 2046	280	$452.17	$1,129.13	$454.23	$2,035.52	$107,390.98
Oct, 2046	281	$447.46	$1,133.83	$454.23	$2,035.52	$106,257.14
Nov, 2046	282	$442.74	$1,138.56	$454.23	$2,035.52	$105,118.59
Dec, 2046	283	$437.99	$1,143.30	$454.23	$2,035.52	$103,975.29
Jan, 2047	284	$433.23	$1,148.06	$454.23	$2,035.52	$102,827.23
Feb, 2047	285	$428.45	$1,152.85	$454.23	$2,035.52	$101,674.38
Mar, 2047	286	$423.64	$1,157.65	$454.23	$2,035.52	$100,516.73
Apr, 2047	287	$418.82	$1,162.47	$454.23	$2,035.52	$99,354.25
May, 2047	288	$413.98	$1,167.32	$454.23	$2,035.52	$98,186.94
Jun, 2047	289	$409.11	$1,172.18	$454.23	$2,035.52	$97,014.75
Jul, 2047	290	$404.23	$1,177.07	$454.23	$2,035.52	$95,837.69
Aug, 2047	291	$399.32	$1,181.97	$454.23	$2,035.52	$94,655.72
Sep, 2047	292	$394.40	$1,186.90	$454.23	$2,035.52	$93,468.82
Oct, 2047	293	$389.45	$1,191.84	$454.23	$2,035.52	$92,276.98
Nov, 2047	294	$384.49	$1,196.81	$454.23	$2,035.52	$91,080.18
Dec, 2047	295	$379.50	$1,201.79	$454.23	$2,035.52	$89,878.38
Jan, 2048	296	$374.49	$1,206.80	$454.23	$2,035.52	$88,671.58
Feb, 2048	297	$369.46	$1,211.83	$454.23	$2,035.52	$87,459.75
Mar, 2048	298	$364.42	$1,216.88	$454.23	$2,035.52	$86,242.87
Apr, 2048	299	$359.35	$1,221.95	$454.23	$2,035.52	$85,020.93
May, 2048	300	$354.25	$1,227.04	$454.23	$2,035.52	$83,793.89
Jun, 2048	301	$349.14	$1,232.15	$454.23	$2,035.52	$82,561.73
Jul, 2048	302	$344.01	$1,237.29	$454.23	$2,035.52	$81,324.45
Aug, 2048	303	$338.85	$1,242.44	$454.23	$2,035.52	$80,082.00
Sep, 2048	304	$333.68	$1,247.62	$454.23	$2,035.52	$78,834.38
Oct, 2048	305	$328.48	$1,252.82	$454.23	$2,035.52	$77,581.57
Nov, 2048	306	$323.26	$1,258.04	$454.23	$2,035.52	$76,323.53
Dec, 2048	307	$318.01	$1,263.28	$454.23	$2,035.52	$75,060.25
Jan, 2049	308	$312.75	$1,268.54	$454.23	$2,035.52	$73,791.71
Feb, 2049	309	$307.47	$1,273.83	$454.23	$2,035.52	$72,517.88
Mar, 2049	310	$302.16	$1,279.14	$454.23	$2,035.52	$71,238.74
Apr, 2049	311	$296.83	$1,284.47	$454.23	$2,035.52	$69,954.28
May, 2049	312	$291.48	$1,289.82	$454.23	$2,035.52	$68,664.46
Jun, 2049	313	$286.10	$1,295.19	$454.23	$2,035.52	$67,369.27
Jul, 2049	314	$280.71	$1,300.59	$454.23	$2,035.52	$66,068.68
Aug, 2049	315	$275.29	$1,306.01	$454.23	$2,035.52	$64,762.67
Sep, 2049	316	$269.84	$1,311.45	$454.23	$2,035.52	$63,451.22
Oct, 2049	317	$264.38	$1,316.91	$454.23	$2,035.52	$62,134.31
Nov, 2049	318	$258.89	$1,322.40	$454.23	$2,035.52	$60,811.91
Dec, 2049	319	$253.38	$1,327.91	$454.23	$2,035.52	$59,483.99
Jan, 2050	320	$247.85	$1,333.44	$454.23	$2,035.52	$58,150.55
Feb, 2050	321	$242.29	$1,339.00	$454.23	$2,035.52	$56,811.55
Mar, 2050	322	$236.71	$1,344.58	$454.23	$2,035.52	$55,466.97
Apr, 2050	323	$231.11	$1,350.18	$454.23	$2,035.52	$54,116.79
May, 2050	324	$225.49	$1,355.81	$454.23	$2,035.52	$52,760.98
Jun, 2050	325	$219.84	$1,361.46	$454.23	$2,035.52	$51,399.53
Jul, 2050	326	$214.16	$1,367.13	$454.23	$2,035.52	$50,032.40
Aug, 2050	327	$208.47	$1,372.83	$454.23	$2,035.52	$48,659.57
Sep, 2050	328	$202.75	$1,378.55	$454.23	$2,035.52	$47,281.03
Oct, 2050	329	$197.00	$1,384.29	$454.23	$2,035.52	$45,896.74
Nov, 2050	330	$191.24	$1,390.06	$454.23	$2,035.52	$44,506.68
Dec, 2050	331	$185.44	$1,395.85	$454.23	$2,035.52	$43,110.83
Jan, 2051	332	$179.63	$1,401.67	$454.23	$2,035.52	$41,709.16
Feb, 2051	333	$173.79	$1,407.51	$454.23	$2,035.52	$40,301.66
Mar, 2051	334	$167.92	$1,413.37	$454.23	$2,035.52	$38,888.29
Apr, 2051	335	$162.03	$1,419.26	$454.23	$2,035.52	$37,469.03
May, 2051	336	$156.12	$1,425.17	$454.23	$2,035.52	$36,043.85
Jun, 2051	337	$150.18	$1,431.11	$454.23	$2,035.52	$34,612.74
Jul, 2051	338	$144.22	$1,437.07	$454.23	$2,035.52	$33,175.67
Aug, 2051	339	$138.23	$1,443.06	$454.23	$2,035.52	$31,732.61
Sep, 2051	340	$132.22	$1,449.07	$454.23	$2,035.52	$30,283.53
Oct, 2051	341	$126.18	$1,455.11	$454.23	$2,035.52	$28,828.42
Nov, 2051	342	$120.12	$1,461.18	$454.23	$2,035.52	$27,367.24
Dec, 2051	343	$114.03	$1,467.26	$454.23	$2,035.52	$25,899.98
Jan, 2052	344	$107.92	$1,473.38	$454.23	$2,035.52	$24,426.60
Feb, 2052	345	$101.78	$1,479.52	$454.23	$2,035.52	$22,947.09
Mar, 2052	346	$95.61	$1,485.68	$454.23	$2,035.52	$21,461.41
Apr, 2052	347	$89.42	$1,491.87	$454.23	$2,035.52	$19,969.53
May, 2052	348	$83.21	$1,498.09	$454.23	$2,035.52	$18,471.45
Jun, 2052	349	$76.96	$1,504.33	$454.23	$2,035.52	$16,967.12
Jul, 2052	350	$70.70	$1,510.60	$454.23	$2,035.52	$15,456.52
Aug, 2052	351	$64.40	$1,516.89	$454.23	$2,035.52	$13,939.63
Sep, 2052	352	$58.08	$1,523.21	$454.23	$2,035.52	$12,416.41
Oct, 2052	353	$51.74	$1,529.56	$454.23	$2,035.52	$10,886.86
Nov, 2052	354	$45.36	$1,535.93	$454.23	$2,035.52	$9,350.92
Dec, 2052	355	$38.96	$1,542.33	$454.23	$2,035.52	$7,808.59
Jan, 2053	356	$32.54	$1,548.76	$454.23	$2,035.52	$6,259.83
Feb, 2053	357	$26.08	$1,555.21	$454.23	$2,035.52	$4,704.62
Mar, 2053	358	$19.60	$1,561.69	$454.23	$2,035.52	$3,142.93
Apr, 2053	359	$13.10	$1,568.20	$454.23	$2,035.52	$1,574.73
May, 2053	360	$6.56	$1,574.73	$454.23	$2,035.52	$0.00
Compare Monthly vs. Bi-weekly
Payment Frequency		Monthly		Bi-weekly
Payments / Year		12		26
Each Payment		$2,035.52		$1,000.29
Total Extra Payments		$0.00		$0.00
Total Interest		$274,699.83		$224,140.62
Total Tax, Insurance, MIP & Fees		$163,522.50		$137,316.97
Total Payment		$743,288.33		$666,523.59
Total Savings		$0		$76,764.74
Payoff Date		May, 2053		Jul, 2048

Share My Mortgage Calculation

What is a 203K loan?

An FHA 203K loan, also known as a mortgage rehab loan can be used to finance the purchase of a property and the renovation costs into a single mortgage. Current homeowners can also use an FHA 203k loan to refinance their property and fund the costs of renovation under the same mortgage.

How does an FHA 203K loan work?

Most conventional lenders do not approve mortgages for properties that are not in good condition. This is where an FHA 203K loan can be useful as it allows homebuyers to get a mortgage on a property that requires major repairs and renovation. Not only does the FHA 203K loan funds the purchase of the property, but it also covers the repair costs. An FHA 203K loan is backed by the Federal Housing Administration (FHA) and has more flexible terms and qualifications than a conventional mortgage. To be eligible for a 203K loan, the property must meet certain safety standards which are determined by an FHA-approved home appraiser. A 203K loan is a good option for first-time homebuyers or for those who don't have a lot of cash in hand to buy a more expensive move-ready home.

Types of 203K loans

There are two types of 203K loans, the limited 203(K) loan, and the standard 203K loan.

Limited 203K loan

The limited 203K loan is for homes that require minor fixes and improvements. There shouldn't be any major repairs like structural changes to a property. The limited 203(K) loan allows homeowners to finance up to $35,000 in their mortgages for renovation purposes.

Standard 203K loan

For major repairs and improvements, you will need to get the standard 203K loan. The renovation must cost a minimum of $5,000, but the total value of the property must be within a certain range set by the FHA mortgage limit for that area.

What can a 203K loan be used for?

The 203K loan can be used to finance the purchase of a property and home renovations to improve.

Structure change involves a lot of work and could be costly.
Major home improvements to the functionality and appearance of a property.
Install, replace, or fix roofing and flooring.
Major site improvements and landscaping work.
Make energy conservation improvements
Recondition or replace the plumbing system.

Homebuyers cannot use the 203K loan on luxury home improvements such as building a swimming pool. The project also has to be completed within 6 months.

How to qualify for an FHA 203(K) loan?

There are many requirements for 203K loans, but the standards are lower than conventional mortgages.

Down payment - 3.5% down payment is required for borrowers with a credit score of 580 or above, and 10% for those with a lower credit score.
Credit score - a credit score of 500 or above is required for 203K loans.
Debt-to-income ratio (DTI) - borrowers should have a DTI of 43% or lower. DTI is a ratio that measures your income to debt to determine if you have too much debt.
Maximum mortgage limit - there is a limit to how much mortgage you can get which must be within the FHA mortgage limits in your area. The standard mortgage limit is $472,030 for single-family homes in most areas, with higher limits in expensive cities.
Primary residence - a 203K loan can only be used for a primary residence. You cannot use it to finance an investment property.
FHA mortgage insurance premiums (MIP) - you will have to pay an upfront and annual mortgage insurance premium. The upfront MIP is 1.75% of your loan amount, and the annual MIP ranges from 0.45% to 1%.
FHA-approved lender - not all lenders offer 203K loans, you will need to work with an FHA-approved lender.

Pros and cons of 203K loan

As with any other type of real estate loan, 203(K) loans come with benefits and drawbacks.

Pros of a 203K loan

Lower requirements - it is easier to qualify for a 203K loan than a conventional mortgage as the credit score and down payment standards are much lower.
Single loan - you can buy and renovate with a single loan instead of multiple loans.
Lower interest rate - 203K loan has a lower interest rate than many other types of loans such as personal loans or credit cards.

Cons of a 203K loan

MIP - you will need to pay the upfront and annual mortgage insurance premium which is quite expensive depending on the size of your loan.
Primary residence - you must live in the house, and cannot use the 203K loan to finance a rental income-generating property.
Mortgage limit - there is a limit on how much you can borrow set by the FHA loan limits.
Repairs must be done in 6 months - your renovation projects need to be completed in a half year.

203K Loan FAQs

Does the 203K loan have a fixed rate or an adjustable rate?

- A 203K loan can be either fixed rate or variable depending on your need.

Can a 203K loan be used for fix and flip?

- No, you cannot use a 203K loan for a fix and flip. The property must be used as a primary residency.

How fast can you close on a 203K loan?

- It may take 60 days or more to close on a 203K loan.

What credit score do you need for a 203K loan?

- you need to have a credit score of 500 or above.

What is the maximum DTI required for a 203K loan?

- Your DTI should be 43% or lower for a 203K loan.

What is the minimum down payment for a 203K loan?

- 3.5% is the minimum down payment you can make if your credit score is above 80%. -The minimum down payment is 10% if your credit score is lower than 580.

How is the fund disbursed on a 203K loan?

- A portion of the 203K loan is used to pay the home seller. The rest of the funds are placed in an escrow account and released as home improvement is completed.

Can you use a 203K loan for luxury home renovations?

- No, you cannot use a 203K loan for luxury home improvements such as building a swimming pool or a tennis court. The home improvements must be done for necessities or energy-efficient purposes.

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

Mortgage Related Calculators

Auto Loan Calculators

Car Loan Amortization Schedule Excel
Auto Loan Payoff Calculator
Auto Loan Calculator with Trade in
Auto Refinance Calculator
Biweekly Auto Loan Calculator
RV Loan Calculator
Motorcycle Loan Calculator
Car Lease Calculator
Car Depreciation Calculator
LTV Calculator Auto
Reverse Auto Loan Calculator
How Much Car Can I Afford

Loan Calculators

Printable Amortization Schedule
Amortization Schedule Excel
Amortization Schedule With Extra Payments
LTV Calculator
Debt To Income Ratio Calculator
Debt Payoff Calculator
How Much Rent Can I Afford
Boat Loan Calculator
Student Loan Calculator
Student Loan Payoff Calculator
Student Loan Refinancing Calculator
Personal Loan Calculator
Personal Loan Payoff Calculator
Personal Loan Refinance Calculator
Land Loan Calculator
Loan Payoff Calculator
Loan Calculator Excel
Reverse Loan Calculator
Lump Sum Payment Calculator
Biweekly Loan Calculator
Loan Calculator With Extra Payments

Savings & Investments Calculators

Compound Interest Calculator
Airbnb Calculator
Money Market Account Calculator

Credit Card Calculators

Credit Card Calculator
Credit Card Payoff Calculator
Credit Card Minimum Payment Calculator
Credit Card Interest Calculator
Multiple Credit Card Payoff Calculator

Mortgage Guide

How to Pay Off Mortgage Earlier
How to Improve Credit Score
What Percent Do Real Estate Agents Make
First Time Home Buyer Guide
Mortgage Terms & Definitions

Mortgage Calculator Widget

Free Mortgage Calculator Widget

Mortgage Calculator