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FHA Mortgage Calculator Excel

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: Nov, 2023
Payoff Date: Oct, 2053
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
Nov, 2023 1 $1,227.36 $353.94 $510.92 $2,092.21 $294,212.06
Dec, 2023 2 $1,225.88 $355.41 $510.92 $2,092.21 $293,856.65
Jan, 2024 3 $1,224.40 $356.89 $510.92 $2,092.21 $293,499.76
Feb, 2024 4 $1,222.92 $358.38 $510.92 $2,092.21 $293,141.38
Mar, 2024 5 $1,221.42 $359.87 $510.92 $2,092.21 $292,781.51
Apr, 2024 6 $1,219.92 $361.37 $510.92 $2,092.21 $292,420.14
May, 2024 7 $1,218.42 $362.88 $510.92 $2,092.21 $292,057.27
Jun, 2024 8 $1,216.91 $364.39 $510.92 $2,092.21 $291,692.88
Jul, 2024 9 $1,215.39 $365.91 $510.92 $2,092.21 $291,326.97
Aug, 2024 10 $1,213.86 $367.43 $510.92 $2,092.21 $290,959.54
Sep, 2024 11 $1,212.33 $368.96 $510.92 $2,092.21 $290,590.58
Oct, 2024 12 $1,210.79 $370.50 $510.92 $2,092.21 $290,220.08
Nov, 2024 13 $1,209.25 $372.04 $510.92 $2,092.21 $289,848.03
Dec, 2024 14 $1,207.70 $373.59 $510.92 $2,092.21 $289,474.44
Jan, 2025 15 $1,206.14 $375.15 $510.92 $2,092.21 $289,099.29
Feb, 2025 16 $1,204.58 $376.71 $510.92 $2,092.21 $288,722.57
Mar, 2025 17 $1,203.01 $378.28 $510.92 $2,092.21 $288,344.29
Apr, 2025 18 $1,201.43 $379.86 $510.92 $2,092.21 $287,964.43
May, 2025 19 $1,199.85 $381.44 $510.92 $2,092.21 $287,582.99
Jun, 2025 20 $1,198.26 $383.03 $510.92 $2,092.21 $287,199.96
Jul, 2025 21 $1,196.67 $384.63 $510.92 $2,092.21 $286,815.33
Aug, 2025 22 $1,195.06 $386.23 $510.92 $2,092.21 $286,429.10
Sep, 2025 23 $1,193.45 $387.84 $510.92 $2,092.21 $286,041.26
Oct, 2025 24 $1,191.84 $389.46 $510.92 $2,092.21 $285,651.80
Nov, 2025 25 $1,190.22 $391.08 $510.92 $2,092.21 $285,260.73
Dec, 2025 26 $1,188.59 $392.71 $510.92 $2,092.21 $284,868.02
Jan, 2026 27 $1,186.95 $394.34 $510.92 $2,092.21 $284,473.68
Feb, 2026 28 $1,185.31 $395.99 $510.92 $2,092.21 $284,077.69
Mar, 2026 29 $1,183.66 $397.64 $510.92 $2,092.21 $283,680.05
Apr, 2026 30 $1,182.00 $399.29 $510.92 $2,092.21 $283,280.76
May, 2026 31 $1,180.34 $400.96 $510.92 $2,092.21 $282,879.80
Jun, 2026 32 $1,178.67 $402.63 $510.92 $2,092.21 $282,477.17
Jul, 2026 33 $1,176.99 $404.31 $510.92 $2,092.21 $282,072.87
Aug, 2026 34 $1,175.30 $405.99 $510.92 $2,092.21 $281,666.88
Sep, 2026 35 $1,173.61 $407.68 $510.92 $2,092.21 $281,259.19
Oct, 2026 36 $1,171.91 $409.38 $510.92 $2,092.21 $280,849.81
Nov, 2026 37 $1,170.21 $411.09 $510.92 $2,092.21 $280,438.73
Dec, 2026 38 $1,168.49 $412.80 $510.92 $2,092.21 $280,025.93
Jan, 2027 39 $1,166.77 $414.52 $510.92 $2,092.21 $279,611.41
Feb, 2027 40 $1,165.05 $416.25 $510.92 $2,092.21 $279,195.16
Mar, 2027 41 $1,163.31 $417.98 $510.92 $2,092.21 $278,777.18
Apr, 2027 42 $1,161.57 $419.72 $510.92 $2,092.21 $278,357.46
May, 2027 43 $1,159.82 $421.47 $510.92 $2,092.21 $277,935.99
Jun, 2027 44 $1,158.07 $423.23 $510.92 $2,092.21 $277,512.76
Jul, 2027 45 $1,156.30 $424.99 $510.92 $2,092.21 $277,087.77
Aug, 2027 46 $1,154.53 $426.76 $510.92 $2,092.21 $276,661.01
Sep, 2027 47 $1,152.75 $428.54 $510.92 $2,092.21 $276,232.47
Oct, 2027 48 $1,150.97 $430.33 $510.92 $2,092.21 $275,802.14
Nov, 2027 49 $1,149.18 $432.12 $510.92 $2,092.21 $275,370.02
Dec, 2027 50 $1,147.38 $433.92 $510.92 $2,092.21 $274,936.10
Jan, 2028 51 $1,145.57 $435.73 $510.92 $2,092.21 $274,500.38
Feb, 2028 52 $1,143.75 $437.54 $510.92 $2,092.21 $274,062.84
Mar, 2028 53 $1,141.93 $439.37 $510.92 $2,092.21 $273,623.47
Apr, 2028 54 $1,140.10 $441.20 $510.92 $2,092.21 $273,182.27
May, 2028 55 $1,138.26 $443.03 $510.92 $2,092.21 $272,739.24
Jun, 2028 56 $1,136.41 $444.88 $510.92 $2,092.21 $272,294.36
Jul, 2028 57 $1,134.56 $446.73 $510.92 $2,092.21 $271,847.62
Aug, 2028 58 $1,132.70 $448.60 $510.92 $2,092.21 $271,399.03
Sep, 2028 59 $1,130.83 $450.46 $510.92 $2,092.21 $270,948.56
Oct, 2028 60 $1,128.95 $452.34 $510.92 $2,092.21 $270,496.22
Nov, 2028 61 $1,127.07 $454.23 $510.92 $2,092.21 $270,042.00
Dec, 2028 62 $1,125.17 $456.12 $510.92 $2,092.21 $269,585.88
Jan, 2029 63 $1,123.27 $458.02 $510.92 $2,092.21 $269,127.86
Feb, 2029 64 $1,121.37 $459.93 $510.92 $2,092.21 $268,667.93
Mar, 2029 65 $1,119.45 $461.84 $510.92 $2,092.21 $268,206.09
Apr, 2029 66 $1,117.53 $463.77 $510.92 $2,092.21 $267,742.32
May, 2029 67 $1,115.59 $465.70 $510.92 $2,092.21 $267,276.62
Jun, 2029 68 $1,113.65 $467.64 $510.92 $2,092.21 $266,808.97
Jul, 2029 69 $1,111.70 $469.59 $510.92 $2,092.21 $266,339.38
Aug, 2029 70 $1,109.75 $471.55 $510.92 $2,092.21 $265,867.84
Sep, 2029 71 $1,107.78 $473.51 $510.92 $2,092.21 $265,394.33
Oct, 2029 72 $1,105.81 $475.48 $510.92 $2,092.21 $264,918.84
Nov, 2029 73 $1,103.83 $477.47 $510.92 $2,092.21 $264,441.38
Dec, 2029 74 $1,101.84 $479.45 $510.92 $2,092.21 $263,961.92
Jan, 2030 75 $1,099.84 $481.45 $510.92 $2,092.21 $263,480.47
Feb, 2030 76 $1,097.84 $483.46 $510.92 $2,092.21 $262,997.01
Mar, 2030 77 $1,095.82 $485.47 $510.92 $2,092.21 $262,511.54
Apr, 2030 78 $1,093.80 $487.50 $510.92 $2,092.21 $262,024.04
May, 2030 79 $1,091.77 $489.53 $510.92 $2,092.21 $261,534.51
Jun, 2030 80 $1,089.73 $491.57 $510.92 $2,092.21 $261,042.95
Jul, 2030 81 $1,087.68 $493.62 $510.92 $2,092.21 $260,549.33
Aug, 2030 82 $1,085.62 $495.67 $510.92 $2,092.21 $260,053.66
Sep, 2030 83 $1,083.56 $497.74 $510.92 $2,092.21 $259,555.92
Oct, 2030 84 $1,081.48 $499.81 $510.92 $2,092.21 $259,056.11
Nov, 2030 85 $1,079.40 $501.89 $510.92 $2,092.21 $258,554.22
Dec, 2030 86 $1,077.31 $503.98 $510.92 $2,092.21 $258,050.24
Jan, 2031 87 $1,075.21 $506.08 $510.92 $2,092.21 $257,544.15
Feb, 2031 88 $1,073.10 $508.19 $510.92 $2,092.21 $257,035.96
Mar, 2031 89 $1,070.98 $510.31 $510.92 $2,092.21 $256,525.65
Apr, 2031 90 $1,068.86 $512.44 $510.92 $2,092.21 $256,013.21
May, 2031 91 $1,066.72 $514.57 $510.92 $2,092.21 $255,498.64
Jun, 2031 92 $1,064.58 $516.72 $510.92 $2,092.21 $254,981.92
Jul, 2031 93 $1,062.42 $518.87 $510.92 $2,092.21 $254,463.05
Aug, 2031 94 $1,060.26 $521.03 $510.92 $2,092.21 $253,942.02
Sep, 2031 95 $1,058.09 $523.20 $510.92 $2,092.21 $253,418.82
Oct, 2031 96 $1,055.91 $525.38 $510.92 $2,092.21 $252,893.44
Nov, 2031 97 $1,053.72 $527.57 $510.92 $2,092.21 $252,365.86
Dec, 2031 98 $1,051.52 $529.77 $510.92 $2,092.21 $251,836.09
Jan, 2032 99 $1,049.32 $531.98 $510.92 $2,092.21 $251,304.12
Feb, 2032 100 $1,047.10 $534.19 $510.92 $2,092.21 $250,769.92
Mar, 2032 101 $1,044.87 $536.42 $510.92 $2,092.21 $250,233.50
Apr, 2032 102 $1,042.64 $538.65 $510.92 $2,092.21 $249,694.85
May, 2032 103 $1,040.40 $540.90 $510.92 $2,092.21 $249,153.95
Jun, 2032 104 $1,038.14 $543.15 $510.92 $2,092.21 $248,610.80
Jul, 2032 105 $1,035.88 $545.42 $510.92 $2,092.21 $248,065.38
Aug, 2032 106 $1,033.61 $547.69 $510.92 $2,092.21 $247,517.70
Sep, 2032 107 $1,031.32 $549.97 $510.92 $2,092.21 $246,967.73
Oct, 2032 108 $1,029.03 $552.26 $510.92 $2,092.21 $246,415.46
Nov, 2032 109 $1,026.73 $554.56 $510.92 $2,092.21 $245,860.90
Dec, 2032 110 $1,024.42 $556.87 $510.92 $2,092.21 $245,304.03
Jan, 2033 111 $1,022.10 $559.19 $510.92 $2,092.21 $244,744.83
Feb, 2033 112 $1,019.77 $561.52 $510.92 $2,092.21 $244,183.31
Mar, 2033 113 $1,017.43 $563.86 $510.92 $2,092.21 $243,619.45
Apr, 2033 114 $1,015.08 $566.21 $510.92 $2,092.21 $243,053.23
May, 2033 115 $1,012.72 $568.57 $510.92 $2,092.21 $242,484.66
Jun, 2033 116 $1,010.35 $570.94 $510.92 $2,092.21 $241,913.72
Jul, 2033 117 $1,007.97 $573.32 $510.92 $2,092.21 $241,340.40
Aug, 2033 118 $1,005.58 $575.71 $510.92 $2,092.21 $240,764.69
Sep, 2033 119 $1,003.19 $578.11 $510.92 $2,092.21 $240,186.58
Oct, 2033 120 $1,000.78 $580.52 $510.92 $2,092.21 $239,606.07
Nov, 2033 121 $998.36 $582.94 $510.92 $2,092.21 $239,023.13
Dec, 2033 122 $995.93 $585.36 $510.92 $2,092.21 $238,437.77
Jan, 2034 123 $993.49 $587.80 $510.92 $2,092.21 $237,849.96
Feb, 2034 124 $991.04 $590.25 $510.92 $2,092.21 $237,259.71
Mar, 2034 125 $988.58 $592.71 $510.92 $2,092.21 $236,667.00
Apr, 2034 126 $986.11 $595.18 $510.92 $2,092.21 $236,071.82
May, 2034 127 $983.63 $597.66 $510.92 $2,092.21 $235,474.16
Jun, 2034 128 $981.14 $600.15 $510.92 $2,092.21 $234,874.00
Jul, 2034 129 $978.64 $602.65 $510.92 $2,092.21 $234,271.35
Aug, 2034 130 $976.13 $605.16 $510.92 $2,092.21 $233,666.19
Sep, 2034 131 $973.61 $607.68 $510.92 $2,092.21 $233,058.50
Oct, 2034 132 $971.08 $610.22 $510.92 $2,092.21 $232,448.29
Nov, 2034 133 $968.53 $612.76 $510.92 $2,092.21 $231,835.53
Dec, 2034 134 $965.98 $615.31 $510.92 $2,092.21 $231,220.21
Jan, 2035 135 $963.42 $617.88 $510.92 $2,092.21 $230,602.34
Feb, 2035 136 $960.84 $620.45 $510.92 $2,092.21 $229,981.89
Mar, 2035 137 $958.26 $623.04 $510.92 $2,092.21 $229,358.85
Apr, 2035 138 $955.66 $625.63 $510.92 $2,092.21 $228,733.22
May, 2035 139 $953.06 $628.24 $510.92 $2,092.21 $228,104.98
Jun, 2035 140 $950.44 $630.86 $510.92 $2,092.21 $227,474.12
Jul, 2035 141 $947.81 $633.49 $510.92 $2,092.21 $226,840.64
Aug, 2035 142 $945.17 $636.12 $510.92 $2,092.21 $226,204.51
Sep, 2035 143 $942.52 $638.78 $510.92 $2,092.21 $225,565.74
Oct, 2035 144 $939.86 $641.44 $510.92 $2,092.21 $224,924.30
Nov, 2035 145 $937.18 $644.11 $510.92 $2,092.21 $224,280.19
Dec, 2035 146 $934.50 $646.79 $510.92 $2,092.21 $223,633.40
Jan, 2036 147 $931.81 $649.49 $510.92 $2,092.21 $222,983.91
Feb, 2036 148 $929.10 $652.19 $510.92 $2,092.21 $222,331.72
Mar, 2036 149 $926.38 $654.91 $510.92 $2,092.21 $221,676.80
Apr, 2036 150 $923.65 $657.64 $510.92 $2,092.21 $221,019.16
May, 2036 151 $920.91 $660.38 $510.92 $2,092.21 $220,358.78
Jun, 2036 152 $918.16 $663.13 $510.92 $2,092.21 $219,695.65
Jul, 2036 153 $915.40 $665.90 $510.92 $2,092.21 $219,029.76
Aug, 2036 154 $912.62 $668.67 $510.92 $2,092.21 $218,361.09
Sep, 2036 155 $909.84 $671.46 $510.92 $2,092.21 $217,689.63
Oct, 2036 156 $907.04 $674.25 $510.92 $2,092.21 $217,015.38
Nov, 2036 157 $904.23 $677.06 $510.92 $2,092.21 $216,338.31
Dec, 2036 158 $901.41 $679.88 $510.92 $2,092.21 $215,658.43
Jan, 2037 159 $898.58 $682.72 $510.92 $2,092.21 $214,975.71
Feb, 2037 160 $895.73 $685.56 $510.92 $2,092.21 $214,290.15
Mar, 2037 161 $892.88 $688.42 $510.92 $2,092.21 $213,601.73
Apr, 2037 162 $890.01 $691.29 $510.92 $2,092.21 $212,910.44
May, 2037 163 $887.13 $694.17 $510.92 $2,092.21 $212,216.28
Jun, 2037 164 $884.23 $697.06 $510.92 $2,092.21 $211,519.22
Jul, 2037 165 $881.33 $699.96 $510.92 $2,092.21 $210,819.25
Aug, 2037 166 $878.41 $702.88 $510.92 $2,092.21 $210,116.37
Sep, 2037 167 $875.48 $705.81 $510.92 $2,092.21 $209,410.56
Oct, 2037 168 $872.54 $708.75 $510.92 $2,092.21 $208,701.81
Nov, 2037 169 $869.59 $711.70 $510.92 $2,092.21 $207,990.11
Dec, 2037 170 $866.63 $714.67 $510.92 $2,092.21 $207,275.44
Jan, 2038 171 $863.65 $717.65 $510.92 $2,092.21 $206,557.80
Feb, 2038 172 $860.66 $720.64 $510.92 $2,092.21 $205,837.16
Mar, 2038 173 $857.65 $723.64 $510.92 $2,092.21 $205,113.52
Apr, 2038 174 $854.64 $726.65 $510.92 $2,092.21 $204,386.87
May, 2038 175 $851.61 $729.68 $510.92 $2,092.21 $203,657.18
Jun, 2038 176 $848.57 $732.72 $510.92 $2,092.21 $202,924.46
Jul, 2038 177 $845.52 $735.78 $510.92 $2,092.21 $202,188.69
Aug, 2038 178 $842.45 $738.84 $510.92 $2,092.21 $201,449.84
Sep, 2038 179 $839.37 $741.92 $510.92 $2,092.21 $200,707.93
Oct, 2038 180 $836.28 $745.01 $510.92 $2,092.21 $199,962.91
Nov, 2038 181 $833.18 $748.12 $510.92 $2,092.21 $199,214.80
Dec, 2038 182 $830.06 $751.23 $510.92 $2,092.21 $198,463.57
Jan, 2039 183 $826.93 $754.36 $510.92 $2,092.21 $197,709.20
Feb, 2039 184 $823.79 $757.51 $510.92 $2,092.21 $196,951.70
Mar, 2039 185 $820.63 $760.66 $510.92 $2,092.21 $196,191.04
Apr, 2039 186 $817.46 $763.83 $510.92 $2,092.21 $195,427.21
May, 2039 187 $814.28 $767.01 $510.92 $2,092.21 $194,660.19
Jun, 2039 188 $811.08 $770.21 $510.92 $2,092.21 $193,889.98
Jul, 2039 189 $807.87 $773.42 $510.92 $2,092.21 $193,116.56
Aug, 2039 190 $804.65 $776.64 $510.92 $2,092.21 $192,339.92
Sep, 2039 191 $801.42 $779.88 $510.92 $2,092.21 $191,560.04
Oct, 2039 192 $798.17 $783.13 $510.92 $2,092.21 $190,776.92
Nov, 2039 193 $794.90 $786.39 $510.92 $2,092.21 $189,990.53
Dec, 2039 194 $791.63 $789.67 $510.92 $2,092.21 $189,200.86
Jan, 2040 195 $788.34 $792.96 $510.92 $2,092.21 $188,407.90
Feb, 2040 196 $785.03 $796.26 $510.92 $2,092.21 $187,611.64
Mar, 2040 197 $781.72 $799.58 $510.92 $2,092.21 $186,812.06
Apr, 2040 198 $778.38 $802.91 $510.92 $2,092.21 $186,009.15
May, 2040 199 $775.04 $806.26 $510.92 $2,092.21 $185,202.90
Jun, 2040 200 $771.68 $809.62 $510.92 $2,092.21 $184,393.28
Jul, 2040 201 $768.31 $812.99 $510.92 $2,092.21 $183,580.29
Aug, 2040 202 $764.92 $816.38 $510.92 $2,092.21 $182,763.92
Sep, 2040 203 $761.52 $819.78 $510.92 $2,092.21 $181,944.14
Oct, 2040 204 $758.10 $823.19 $510.92 $2,092.21 $181,120.95
Nov, 2040 205 $754.67 $826.62 $510.92 $2,092.21 $180,294.32
Dec, 2040 206 $751.23 $830.07 $510.92 $2,092.21 $179,464.25
Jan, 2041 207 $747.77 $833.53 $510.92 $2,092.21 $178,630.73
Feb, 2041 208 $744.29 $837.00 $510.92 $2,092.21 $177,793.73
Mar, 2041 209 $740.81 $840.49 $510.92 $2,092.21 $176,953.24
Apr, 2041 210 $737.31 $843.99 $510.92 $2,092.21 $176,109.25
May, 2041 211 $733.79 $847.51 $510.92 $2,092.21 $175,261.75
Jun, 2041 212 $730.26 $851.04 $510.92 $2,092.21 $174,410.71
Jul, 2041 213 $726.71 $854.58 $510.92 $2,092.21 $173,556.13
Aug, 2041 214 $723.15 $858.14 $510.92 $2,092.21 $172,697.98
Sep, 2041 215 $719.57 $861.72 $510.92 $2,092.21 $171,836.27
Oct, 2041 216 $715.98 $865.31 $510.92 $2,092.21 $170,970.96
Nov, 2041 217 $712.38 $868.91 $510.92 $2,092.21 $170,102.04
Dec, 2041 218 $708.76 $872.54 $510.92 $2,092.21 $169,229.51
Jan, 2042 219 $705.12 $876.17 $510.92 $2,092.21 $168,353.33
Feb, 2042 220 $701.47 $879.82 $510.92 $2,092.21 $167,473.51
Mar, 2042 221 $697.81 $883.49 $510.92 $2,092.21 $166,590.03
Apr, 2042 222 $694.13 $887.17 $510.92 $2,092.21 $165,702.86
May, 2042 223 $690.43 $890.87 $510.92 $2,092.21 $164,811.99
Jun, 2042 224 $686.72 $894.58 $510.92 $2,092.21 $163,917.41
Jul, 2042 225 $682.99 $898.30 $510.92 $2,092.21 $163,019.11
Aug, 2042 226 $679.25 $902.05 $510.92 $2,092.21 $162,117.06
Sep, 2042 227 $675.49 $905.81 $510.92 $2,092.21 $161,211.25
Oct, 2042 228 $671.71 $909.58 $510.92 $2,092.21 $160,301.67
Nov, 2042 229 $667.92 $913.37 $510.92 $2,092.21 $159,388.30
Dec, 2042 230 $664.12 $917.18 $510.92 $2,092.21 $158,471.13
Jan, 2043 231 $660.30 $921.00 $510.92 $2,092.21 $157,550.13
Feb, 2043 232 $656.46 $924.84 $510.92 $2,092.21 $156,625.30
Mar, 2043 233 $652.61 $928.69 $510.92 $2,092.21 $155,696.61
Apr, 2043 234 $648.74 $932.56 $510.92 $2,092.21 $154,764.05
May, 2043 235 $644.85 $936.44 $510.92 $2,092.21 $153,827.60
Jun, 2043 236 $640.95 $940.35 $510.92 $2,092.21 $152,887.26
Jul, 2043 237 $637.03 $944.26 $510.92 $2,092.21 $151,943.00
Aug, 2043 238 $633.10 $948.20 $510.92 $2,092.21 $150,994.80
Sep, 2043 239 $629.14 $952.15 $510.92 $2,092.21 $150,042.65
Oct, 2043 240 $625.18 $956.12 $510.92 $2,092.21 $149,086.53
Nov, 2043 241 $621.19 $960.10 $510.92 $2,092.21 $148,126.43
Dec, 2043 242 $617.19 $964.10 $510.92 $2,092.21 $147,162.33
Jan, 2044 243 $613.18 $968.12 $510.92 $2,092.21 $146,194.21
Feb, 2044 244 $609.14 $972.15 $510.92 $2,092.21 $145,222.06
Mar, 2044 245 $605.09 $976.20 $510.92 $2,092.21 $144,245.86
Apr, 2044 246 $601.02 $980.27 $510.92 $2,092.21 $143,265.59
May, 2044 247 $596.94 $984.35 $510.92 $2,092.21 $142,281.24
Jun, 2044 248 $592.84 $988.46 $510.92 $2,092.21 $141,292.78
Jul, 2044 249 $588.72 $992.57 $510.92 $2,092.21 $140,300.21
Aug, 2044 250 $584.58 $996.71 $510.92 $2,092.21 $139,303.50
Sep, 2044 251 $580.43 $1,000.86 $510.92 $2,092.21 $138,302.63
Oct, 2044 252 $576.26 $1,005.03 $510.92 $2,092.21 $137,297.60
Nov, 2044 253 $572.07 $1,009.22 $510.92 $2,092.21 $136,288.38
Dec, 2044 254 $567.87 $1,013.43 $510.92 $2,092.21 $135,274.96
Jan, 2045 255 $563.65 $1,017.65 $510.92 $2,092.21 $134,257.31
Feb, 2045 256 $559.41 $1,021.89 $510.92 $2,092.21 $133,235.42
Mar, 2045 257 $555.15 $1,026.15 $510.92 $2,092.21 $132,209.27
Apr, 2045 258 $550.87 $1,030.42 $510.92 $2,092.21 $131,178.85
May, 2045 259 $546.58 $1,034.72 $510.92 $2,092.21 $130,144.13
Jun, 2045 260 $542.27 $1,039.03 $510.92 $2,092.21 $129,105.11
Jul, 2045 261 $537.94 $1,043.36 $510.92 $2,092.21 $128,061.75
Aug, 2045 262 $533.59 $1,047.70 $510.92 $2,092.21 $127,014.05
Sep, 2045 263 $529.23 $1,052.07 $510.92 $2,092.21 $125,961.98
Oct, 2045 264 $524.84 $1,056.45 $510.92 $2,092.21 $124,905.53
Nov, 2045 265 $520.44 $1,060.85 $510.92 $2,092.21 $123,844.67
Dec, 2045 266 $516.02 $1,065.27 $510.92 $2,092.21 $122,779.40
Jan, 2046 267 $511.58 $1,069.71 $510.92 $2,092.21 $121,709.69
Feb, 2046 268 $507.12 $1,074.17 $510.92 $2,092.21 $120,635.51
Mar, 2046 269 $502.65 $1,078.65 $510.92 $2,092.21 $119,556.87
Apr, 2046 270 $498.15 $1,083.14 $510.92 $2,092.21 $118,473.73
May, 2046 271 $493.64 $1,087.65 $510.92 $2,092.21 $117,386.08
Jun, 2046 272 $489.11 $1,092.19 $510.92 $2,092.21 $116,293.89
Jul, 2046 273 $484.56 $1,096.74 $510.92 $2,092.21 $115,197.15
Aug, 2046 274 $479.99 $1,101.31 $510.92 $2,092.21 $114,095.85
Sep, 2046 275 $475.40 $1,105.89 $510.92 $2,092.21 $112,989.95
Oct, 2046 276 $470.79 $1,110.50 $510.92 $2,092.21 $111,879.45
Nov, 2046 277 $466.16 $1,115.13 $510.92 $2,092.21 $110,764.32
Dec, 2046 278 $461.52 $1,119.78 $510.92 $2,092.21 $109,644.55
Jan, 2047 279 $456.85 $1,124.44 $510.92 $2,092.21 $108,520.10
Feb, 2047 280 $452.17 $1,129.13 $510.92 $2,092.21 $107,390.98
Mar, 2047 281 $447.46 $1,133.83 $510.92 $2,092.21 $106,257.14
Apr, 2047 282 $442.74 $1,138.56 $510.92 $2,092.21 $105,118.59
May, 2047 283 $437.99 $1,143.30 $510.92 $2,092.21 $103,975.29
Jun, 2047 284 $433.23 $1,148.06 $510.92 $2,092.21 $102,827.23
Jul, 2047 285 $428.45 $1,152.85 $510.92 $2,092.21 $101,674.38
Aug, 2047 286 $423.64 $1,157.65 $510.92 $2,092.21 $100,516.73
Sep, 2047 287 $418.82 $1,162.47 $510.92 $2,092.21 $99,354.25
Oct, 2047 288 $413.98 $1,167.32 $510.92 $2,092.21 $98,186.94
Nov, 2047 289 $409.11 $1,172.18 $510.92 $2,092.21 $97,014.75
Dec, 2047 290 $404.23 $1,177.07 $510.92 $2,092.21 $95,837.69
Jan, 2048 291 $399.32 $1,181.97 $510.92 $2,092.21 $94,655.72
Feb, 2048 292 $394.40 $1,186.90 $510.92 $2,092.21 $93,468.82
Mar, 2048 293 $389.45 $1,191.84 $510.92 $2,092.21 $92,276.98
Apr, 2048 294 $384.49 $1,196.81 $510.92 $2,092.21 $91,080.18
May, 2048 295 $379.50 $1,201.79 $510.92 $2,092.21 $89,878.38
Jun, 2048 296 $374.49 $1,206.80 $510.92 $2,092.21 $88,671.58
Jul, 2048 297 $369.46 $1,211.83 $510.92 $2,092.21 $87,459.75
Aug, 2048 298 $364.42 $1,216.88 $510.92 $2,092.21 $86,242.87
Sep, 2048 299 $359.35 $1,221.95 $510.92 $2,092.21 $85,020.93
Oct, 2048 300 $354.25 $1,227.04 $510.92 $2,092.21 $83,793.89
Nov, 2048 301 $349.14 $1,232.15 $510.92 $2,092.21 $82,561.73
Dec, 2048 302 $344.01 $1,237.29 $510.92 $2,092.21 $81,324.45
Jan, 2049 303 $338.85 $1,242.44 $510.92 $2,092.21 $80,082.00
Feb, 2049 304 $333.68 $1,247.62 $510.92 $2,092.21 $78,834.38
Mar, 2049 305 $328.48 $1,252.82 $510.92 $2,092.21 $77,581.57
Apr, 2049 306 $323.26 $1,258.04 $510.92 $2,092.21 $76,323.53
May, 2049 307 $318.01 $1,263.28 $510.92 $2,092.21 $75,060.25
Jun, 2049 308 $312.75 $1,268.54 $510.92 $2,092.21 $73,791.71
Jul, 2049 309 $307.47 $1,273.83 $510.92 $2,092.21 $72,517.88
Aug, 2049 310 $302.16 $1,279.14 $510.92 $2,092.21 $71,238.74
Sep, 2049 311 $296.83 $1,284.47 $510.92 $2,092.21 $69,954.28
Oct, 2049 312 $291.48 $1,289.82 $510.92 $2,092.21 $68,664.46
Nov, 2049 313 $286.10 $1,295.19 $510.92 $2,092.21 $67,369.27
Dec, 2049 314 $280.71 $1,300.59 $510.92 $2,092.21 $66,068.68
Jan, 2050 315 $275.29 $1,306.01 $510.92 $2,092.21 $64,762.67
Feb, 2050 316 $269.84 $1,311.45 $510.92 $2,092.21 $63,451.22
Mar, 2050 317 $264.38 $1,316.91 $510.92 $2,092.21 $62,134.31
Apr, 2050 318 $258.89 $1,322.40 $510.92 $2,092.21 $60,811.91
May, 2050 319 $253.38 $1,327.91 $510.92 $2,092.21 $59,483.99
Jun, 2050 320 $247.85 $1,333.44 $510.92 $2,092.21 $58,150.55
Jul, 2050 321 $242.29 $1,339.00 $510.92 $2,092.21 $56,811.55
Aug, 2050 322 $236.71 $1,344.58 $510.92 $2,092.21 $55,466.97
Sep, 2050 323 $231.11 $1,350.18 $510.92 $2,092.21 $54,116.79
Oct, 2050 324 $225.49 $1,355.81 $510.92 $2,092.21 $52,760.98
Nov, 2050 325 $219.84 $1,361.46 $510.92 $2,092.21 $51,399.53
Dec, 2050 326 $214.16 $1,367.13 $510.92 $2,092.21 $50,032.40
Jan, 2051 327 $208.47 $1,372.83 $510.92 $2,092.21 $48,659.57
Feb, 2051 328 $202.75 $1,378.55 $510.92 $2,092.21 $47,281.03
Mar, 2051 329 $197.00 $1,384.29 $510.92 $2,092.21 $45,896.74
Apr, 2051 330 $191.24 $1,390.06 $510.92 $2,092.21 $44,506.68
May, 2051 331 $185.44 $1,395.85 $510.92 $2,092.21 $43,110.83
Jun, 2051 332 $179.63 $1,401.67 $510.92 $2,092.21 $41,709.16
Jul, 2051 333 $173.79 $1,407.51 $510.92 $2,092.21 $40,301.66
Aug, 2051 334 $167.92 $1,413.37 $510.92 $2,092.21 $38,888.29
Sep, 2051 335 $162.03 $1,419.26 $510.92 $2,092.21 $37,469.03
Oct, 2051 336 $156.12 $1,425.17 $510.92 $2,092.21 $36,043.85
Nov, 2051 337 $150.18 $1,431.11 $510.92 $2,092.21 $34,612.74
Dec, 2051 338 $144.22 $1,437.07 $510.92 $2,092.21 $33,175.67
Jan, 2052 339 $138.23 $1,443.06 $510.92 $2,092.21 $31,732.61
Feb, 2052 340 $132.22 $1,449.07 $510.92 $2,092.21 $30,283.53
Mar, 2052 341 $126.18 $1,455.11 $510.92 $2,092.21 $28,828.42
Apr, 2052 342 $120.12 $1,461.18 $510.92 $2,092.21 $27,367.24
May, 2052 343 $114.03 $1,467.26 $510.92 $2,092.21 $25,899.98
Jun, 2052 344 $107.92 $1,473.38 $510.92 $2,092.21 $24,426.60
Jul, 2052 345 $101.78 $1,479.52 $510.92 $2,092.21 $22,947.09
Aug, 2052 346 $95.61 $1,485.68 $510.92 $2,092.21 $21,461.41
Sep, 2052 347 $89.42 $1,491.87 $510.92 $2,092.21 $19,969.53
Oct, 2052 348 $83.21 $1,498.09 $510.92 $2,092.21 $18,471.45
Nov, 2052 349 $76.96 $1,504.33 $510.92 $2,092.21 $16,967.12
Dec, 2052 350 $70.70 $1,510.60 $510.92 $2,092.21 $15,456.52
Jan, 2053 351 $64.40 $1,516.89 $510.92 $2,092.21 $13,939.63
Feb, 2053 352 $58.08 $1,523.21 $510.92 $2,092.21 $12,416.41
Mar, 2053 353 $51.74 $1,529.56 $510.92 $2,092.21 $10,886.86
Apr, 2053 354 $45.36 $1,535.93 $510.92 $2,092.21 $9,350.92
May, 2053 355 $38.96 $1,542.33 $510.92 $2,092.21 $7,808.59
Jun, 2053 356 $32.54 $1,548.76 $510.92 $2,092.21 $6,259.83
Jul, 2053 357 $26.08 $1,555.21 $510.92 $2,092.21 $4,704.62
Aug, 2053 358 $19.60 $1,561.69 $510.92 $2,092.21 $3,142.93
Sep, 2053 359 $13.10 $1,568.20 $510.92 $2,092.21 $1,574.73
Oct, 2053 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 Oct, 2053 Jan, 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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