FHA Loan Payment – MaxVA Loan

Estimate your FHA Loan payment:

1. Home Value:
2. Down Payment:
3. Down Payment Percent:
4. Loan Term:
  30 years
  
  15 years
5. Interest Rate: 2.957% APR Estimated rate, yours may differ.
6. Credit Score:
  Excellent 720+
  
  Good 680-719
  
  Fair 640-679
  
  Poor Below 640
7. Loan Type:
  
  FHA Purchase Loan
8. Property Tax Rate: Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location. Your Loan Officer can help you determine property tax rates in your area.
9. Annual Homeowners Insurance Annual homeowners insurance is typically 0.35% of the home's value but can vary based on insurer.

Your Estimated
Monthly Payment:
$910

Principal & Interest $611
Taxes $150
Insurance $44
Annual MIP $104

Loan Totals:

Purchase Price $150,000
Down Payment $5,250
Upfront MIP $2,533
Total Loan Amount $147,283

Estimated Taxes & Insurance: Property taxes are generally estimated to be 1.25% of the home's value, but may vary based on your location. Annual homeowners insurance is roughly 0.35% of the home's value but can change based on insurer. Your loan specialist can help you determine property tax and insurance rates in your area.

Annual MIP The Annual MIP ranges from 0.15% to 0.75% depending on loan term, loan amount and down payment. However, for most FHA borrowers, the Annual MIP is 0.55% of the loan amount. The Annual MIP can last for the life of the loan, or be removed after 11 years if the original down payment is 10% or more.

Upfront MIP The Upfront MIP, sometimes referred to as the FHA funding fee, is 1.75% of the loan amount. This fee is due at closing and is typically financed into the entire loan amount to reduce out of pocket costs.

Amount Financed Purchase Price (-) Down Payment (+) Upfront MIP

Estimated Monthly Payment:

$910

See Payment Breakdown