FHA Mortgage Loan Calculator

Use this calculator to determine the maximum FHA mortgage that would be allowed for your home purchase and an estimate of your required downpayment and closing costs. This calculator is designed to determine the mortgage FHA limit for a particular purchase, not the maximum allowed for any home in your state and county. To determine the maximum purchase price for your area you should use https://entp.hud.gov/idapp/html/hicostlook.cfm at the HUD.gov. Then use the calculator below to determine the required downpayment and FHA mortgage limit.

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For more information about these mortgage calculators please visit: Mortgage Calculators from KJE Computer Solutions, LLC

Definitions

Contract sales price
Actual price to be paid for the home. This does not include any closing costs paid by the borrower.

Borrower-paid closing costs
Any closing costs paid by the borrower. This plus the contract sales prices is used to determine the total required investment for the purchase.

Statutory Investment Percent
Percent of your contract price, plus borrower-paid closing costs, that you are required to pay and not borrow. This is designed to require at least a small downpayment from the purchaser.

Appraised value of home and required adjustments
If this plus any required adjustments is lower than the contract sales price, the appraised value is used to calculate the maximum mortgage instead of the contract sales price.

States with low avg. closing costs
Check this box if you are purchasing in Arizona, California, Colorado, Guam, Idaho, Illinois, Indiana, New Mexico, Nevada, Oregon, Utah, Virgin Islands, Washington, Wisconsin, Wyoming. A different Maximum LTV Multiplier is used for these states (0.9765 vs. 0.9775 for all other states)

Minimum downpayment
Downpayment amount that is calculated as required for this loan.

Prepaid expenses, points, non-financeable repairs/improvements, MIP, other items
Any other items required at closing that are not able to be financed into the mortgage. These items plus your downpayment is your total cash required to close this mortgage.

Information and interactive calculators are made available to you as self-help tools for your independent use and are not intended to provide investment advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.