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Real Estate Glossary

 FHA Calculator

 
 
 
  What is FHA and can I qualify for an FHA loan?
The Federal Housing Administration (FHA) is a federal agency within the U.S. Department of Housing and Urban Development (HUD). FHA's primary objective is to assist in providing housing opportunities for low to moderate income families. FHA has both single family (1-4 unit homes) and multi-family (5 or more units) mortgage lending programs. The agency does not generally provide the funds for the mortgages, but rather insures home mortgage loans made by private industry lenders such as mortgage bankers, savings and loans and banks.

Place your cursor in the fields and fill in the requested information to the best of your knowledge. Use the tab key on your keyboard to move through the form. Once the required fields are completed, the form will automatically populate with the information you have requested.

FHA Mortgage Limits For Your Area
(Please contact a local FHA mortgage lender to find out the maximum mortgage for your area.)

$ What is your gross annual income?
$ What are your monthly expenses? 
At what interest rate do you hope to secure this loan?
You could probably qualify for this amount of money.
You would have to come up with this amount of cash to close the mortgage.
This is what your monthly payments would be.
This is what mortgage points and insurance would cost you.
This is what taxes, insurance and other FHA loan closing costs would be.


Note: This calculator is provided to give you a general idea. We cannot guarantee the accuracy or the applicability to your situation. Please consult a qualified professional. If you use a 0% interest value, the calculator will automatically use a default value of .001. Please be aware that the values may vary slightly.