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FHA Mortgage Qualification Calculator

FHA Home Loan Calculator

Use the FREEandCLEAR FHA Home Loan Calculator to determine what size FHA home loan you qualify for based on your gross income and debt as well as the up-front and ongoing FHA mortgage insurance premium (MIP) fees for an FHA mortgage.  The FHA home loan program enables borrowers to purchase a home with a down payment as low as 3.5%.

Watch our FHA Mortgage Qualification Calculator "How To" video

Inputs

Amount of money you make per month BEFORE subtracting taxes and other deductions. You can use our Gross Income Calculator to determine this figure
Please Enter Monthly GROSS Income
It looks like you may have inputted your annual gross income instead of your monthly grosss income. Please confirm you have inputted your monthly gross income.
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Total of monthly payments for all non-housing related debt such as credit card, auto and student loans
Please Enter Total Monthly Debt Payments
It looks like you may have inputted your total debt balance instead of your total monthly debt payments. Please confirm you have inputted your total monthly debt payments.
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The current interest rate for a 30 year FHA mortgage is approximately 3.125%
Please Select Annual Interest Rate
The length, in years, of the mortgage. The most common mortgage term is 30 years
Please Select Mortgage Term (Years)
The amount of money, as a percentage of the purchase price, you are contributing to purchase the property
Please Select Down Payment
Used to determine the FHA mortgage limit for the area where you are purchasing the property
Please Select State
Used to determine the FHA mortgage limit for the area where you are purchasing the property. FHA limits vary by county
Please Select County
Used to determine the FHA mortgage limit, which varies by number of units you are buying
Please Select Unit
Submit Valid Info to Compare Lenders and Save Money!When you provide valid personal info we may connect you with lenders which enables you to compare mortgage proposals and find the mortgage that is right for you. Click calculator for a version of this calculator that does not require personal info
Please Enter Your First & Last Name
Please Enter a Valid First Name
Please Enter a Valid Last Name
Please Enter Your Phone Number
Please Enter a Valid Phone
Please Enter Your Email
Please Enter a Valid Email
Your credit score to the best of your knowledge
Please Select Credit Score
By clicking the button above, you agree to allow FREEandCLEAR to connect you with lenders or other third parties and that FREEandCLEAR and other parties may contact you at the email address and phone number you provided, even if your number appears on a Do Not Call Registry or List. Your consent is not a condition to work with a lender or to qualify for a mortgage. Please review our Privacy Policy for more information. NMLS: 357085

Outputs

The maximum allowable mortgage amount eligible for the FHA progam in your county
Estimated property purchase price you can afford based on the mortgage amount for which you qualify and your down payment
The size of your mortgage relative to the value of your property. If your mortgage size is $80,000 and the property purchase price is $100,000, the LTV ratio is 80%
Total monthly housing expense including your mortgage payment (principal and interest), property taxes, property insurance and FHA Mortgage Insurance Premium
Lender guidelines typically allow you to spend a maximum of 43% of your GROSS monthly income on your combined monthly housing expense and other monthly debt
The FHA Program requires the borrower to pay an up-front Mortgage Insurance Premium (MIP). The up-front MIP is 1.75% of the mortgage amount
The FHA Program requires the borrower to pay an ongoing Mortgage Insurance Premium (MIP) in addition to the monthly mortgage payment. The amount of MIP depends on mortgage amount, LTV ratio and mortgage term

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Current Mortgage Rates in Ashburn, Virginia as of October 21, 2021
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
While we pride ourselves on the quality and breadth of the FREEandCLEAR mortgage calculators please note that they should be used for informational purposes only. Our calculators rely on assumptions by us and inputs and assumptions provided by you, which may be inaccurate. The outputs from our calculators are estimates only and should not be used as the sole basis for making any financial decisions. Always consult multiple financial professionals when determining the mortgage size and program that is appropriate for you.
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