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Loan Details

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$
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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

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) protects the lenders from losing money if you are not able to pay back. The annual MIP varies on several factors such as the amount being borrowed and the 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
** Document Provided By FHALoans.guide **
Source: https://fhaloans.guide/fha-loan-calculator