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Loan Details

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15 30
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$ per year
$ per year

Results

$0

$0

$0

$0


Payment Breakdown

  Principal and Interest: $0
  Monthly MIP: (0.85%)  $$0
  Property Tax: $0
  HOA/Other: $0

Total Monthly Payment

$0

Total Months

180 months

Payment Breakdown

  Principal: $0
  Interest: $0
  One-time Expenses: $0
  MIP: $0
  Taxes and HOA/Other: $0

Total Of All Payments

$0

Total Months

180 months

FHA Eligibility

Other Requirements:
  • 580 credit score: minimum of 3.5% downpayment
  • 500 - 579 credit score: minimum of 10% downpayment
  • Below 500 credit score: not qualified for FHA loan

FHA Annual Mortgage Insurance Premium (MIP)

The annual Mortgage Insurance Premium (MIP) pays for Mortgage Insurance that protects the lender in case of mortgage default. The annual MIP varies based on borrowed amount and loan-to-value (LTV) ratio.

FHA Loan with 30 year Loan Term

Base Loan Amount Loan-To-Value (LTV) Ratio Annual MIP
≤ $625,000 ≤ 95% 0.80%
≤ $625,000 > 95% 0.85%
> $625,000 ≤ 95% 1%
> $625,000 > 95% 1.05%

FHA Loan with 15 year Loan Term

Base Loan Amount Loan-To-Value (LTV) Ratio Annual MIP
≤ $625,000 ≤ 90% 0.45%
≤ $625,000 > 90% 0.70%
> $625,000 ≤ 78% 0.45%
> $625,000 78.01% to 90% 0.70%
> $625,000 > 90% 0.95%

Table of Monthly Payments

Month Starting Loan Amount Interest Principal Ending Loan Amount Total Paid
** Document Provided By FHALoans.guide **
Source: https://fhaloans.guide/calculator