FHA home loans were created to help minorities and first-time home buyers purchase a home. Our calculators were designed to help you determine how much you can afford to safely borrow in order to finance your home.

Loan Rates

October 1, 2014
30 Year Fixed
3.95% Rate
4.25% APR
15 Year Fixed
3.0% Rate
3.29% APR

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How Much Can I Afford?

FHA Mortgage Calculator

Use the following calculator to help you determine an affordable monthly payment so that you know what you can afford before you make an offer on the home you want to purchase.

Desired Mortgage

Down Payment

Term of Loan

Interest Rate

Property Taxes

Non-Mortgage Debt


Estimated Mortgage Payment:

$.00 /mo

Estimated Total Payment:

Includes mortgage insurance premiums

$.00 /mo

Required Monthly Income:


Required Annual Income:


This does not include mortgage insurance if needed. Your salary must meet the following two conditions on FHA loans:

  • The sum of the monthly mortgage and monthly tax payments must be less than 31% of your gross (pre-taxes) monthly salary.
  • The sum of the monthly mortgage, monthly tax and other monthly debt payments must be less than 43% of your gross (pre-taxes) monthly salary.

DISCLAIMER: The figures above are based upon current FHA program guidelines. FHA requires a 3.5% down payment as well as monthly and annual mortgage insurance in many cases. Other loan programs are available. Calculations by this tool are believed to be accurate, yet are not guaranteed.