Not your average FHA calculator.
Estimate payments for FHA purchase, refinance, cash-out, streamline, and 203(k) loans — including MIP, taxes, insurance, loan limits, and cash to close.
Calculate down payment, monthly payment, PMI and estimate your cash for buying a home with an FHA mortgage.
Compare your current mortgage vs refinancing into an FHA loan today. Analyze payments, interest, savings and break-even point.
Calculate your mortgage savings by taking advantage of the FHA's Streamline program.
Looking to buy or refinance a home that needs repairs? Calculate everything with our advanced FHA 203(k) calculator Limited and Standard renovation loans.
Provide purchase price, down payment, and interest rates.
Our calculator uses real numbers and mortgage guidelines.
View your estimated purchase power & suggested loan options.
Start Mortgage Match™️ to get the best results
A real FHA payment estimate should include more than just the loan amount and interest rate. To understand what you can actually afford, you need to look at the full monthly housing payment.
This is the base mortgage payment based on your loan amount, interest rate, and loan term.
Mortgage lenders refer this as “P&I”.
Your property taxes can vary by county, city, and home value. This can make a big difference in your monthly payment.
Insurance protects the property and is included in your monthly escrow payment.
FHA loans include mortgage insurance, which helps make the loan more flexible but increases the monthly payment.
When you are buying a home, you have two cash outlays: Your down payment and your closing costs.
For FHA Loans, the minimum required down payment is 3.5% for most borrowers. Closing costs may vary based on your location.
This is your investment into the property. FHA requires a minimum of 3.5% down payment while the bank finances the remainder 96.5%
These are the actual fees of buying a piece of real estate. Your closing costs will vary depending on your municipality, state, taxes, homeowners insurance and other factors.
FHA loans allows up to 6% of the purchase price for seller concessions. This can help you reduce how much money you need out of pocket.
On a $350,000 home, a 3.5% down payment is $12,250. But your total cash to close could be higher once closing costs and prepaid items are included.
FHA loans are designed to be flexible, but you still need to meet basic mortgage requirements. Your credit score, income, debt-to-income ratio, employment history, property type, and loan amount all matter.
Most FHA buyers qualify with a 520+ credit score. However, 580 minimum is preferred.
The minimum FHA down payment is 3.5% for borrowers with at least a 580 credit score.
FHA only finances owner-occupied properties.
The maximum debt-to-income ratio allowed by FHA is 47% for housing and 57% back-end.
Whether you are an employee or self-employed, you need to show 2 years of income history.
Most people think an FHA loan is just one mortgage program, but FHA can be used for buying, refinancing, renovating, and even refinancing without a full traditional loan process.
Here are the most popular FHA loan options borrowers should know about.
The FHA 203(b) loan is the most common FHA loan that most people get when they buy or refinance a home.
Best For: Buying with a low down payment or simple refinance.
This loan allows buyers and homeowners to finance both the home and eligible renovation costs into one mortgage.
Best For: Property needs repairs, updates, or improvements before it truly works for you.
Great option for smaller projects that do not involve major structural work. This can be useful for cosmetic improvements, minor repairs, flooring, appliances, paint, and certain updates.
Best For: Smaller, non-structural repairs.
This is the most popular option for homeowners to adjust the interest rate, loan term, or monthly payment. Unlike a cash-out refinance, the goal is not to pull equity out of the property.
Best For: Changing your loan terms without taking cash out.
An FHA cash-out refinance allows eligible homeowners to refinance their current mortgage and access a portion of their home equity as cash. This may be used for debt consolidation, home improvements, or other financial goals.
Best For: Tapping into the equity of your property.
This loan helps you finance the construction of a new home and convert the financing into a permanent mortgage after construction is completed
At Andes Mortgage, we can assist you with an FHA construction loan.
Best For: Building a new primary residence.
Designed for homeowners who already have an FHA loan and want to refinance into a new FHA loan with a more streamlined process. It requires little documentation and underwriting than a traditional refinance. No appraisals are required.
Best For:Refinancing an existing FHA loan with less documentation.
FHA financing may be available for eligible manufactured homes that meet FHA property, foundation, and occupancy requirements. This can be an option for buyers looking for a more affordable path to homeownership.
Best For: Smaller, non-structural repairs.
The FHA Home Equity Conversion Mortgage, commonly called a HECM or FHA reverse mortgage, is designed for eligible older homeowners who want to access a portion of their home equity.
Best For:
Older homeowners who want to access home equity.
Pair your FHA loan with a DPA program and buy a house with $0 down.
Purchase or refinance a home that needs repairs with a 203(k) mortgage
Mortgage Match helps Andes Mortgage compare your income, debts, credit, down payment, location, and loan program options so you can move from an estimate to a real mortgage strategy.
Estimates are for educational purposes only and are not a loan approval, Loan Estimate, commitment to lend, or guarantee of terms. Actual qualification depends on credit, income documentation, assets, property type, occupancy, loan program, underwriting findings, lender guidelines, and other factors. Andes Mortgage LLC NMLS #2187991.
