Skip to main content
Simply Approved Mortgages logo
UpdatedAugust 22, 2026ReviewedAugust 23, 2026Where our FHA figures come from
Desk with a calculator, notepad and model house used to estimate FHA mortgage payments
Mortgage tools

Every FHA calculator in one place

Built on published HUD formulas and 2026 loan limits — not generic mortgage math. Change any input and the numbers update instantly.

Start My ApprovalSee Today's Rates
3.5%
Min. down payment
580
Min. FICO score
$1,249,125
2026 high-cost ceiling
Quick answer

Which FHA calculator should you use?

Use the FHA payment calculator for a full PITI estimate, the affordability calculator to work backwards from your income, the MIP calculator to price mortgage insurance, and the refinance break-even tool to decide whether a Streamline refinance pays for itself.

What this means for your mortgage

Start with affordability to set your budget, then use the payment and MIP tools to pressure-test a specific house.

Reviewed by the licensed mortgage team at Simply Approved Mortgages · Last verified August 23, 2026 against HUD Handbook 4000.1

Start with affordability
TL;DR

FHA tools: key takeaways

  • Payment calculator includes financed upfront MIP and monthly MIP
  • Affordability calculator applies FHA's 31/43 ratio guidelines
  • MIP calculator shows lifetime insurance cost by down payment
  • Break-even tool compares refinance costs against monthly savings
  • County lookup returns your exact 2026 FHA maximum
  • Every tool links into a pre-qualification review with a licensed loan officer

Price a real FHA scenario

See live wholesale FHA pricing for your exact scenario — Florida and Colorado primary residences. Provider pricing only, never an estimate. Not a lock, approval or commitment to lend.

Open the FHA pricing tool

Calculators & comparison tools

Each tool shows its assumptions so you can check the math yourself.

FHA Payment Calculator

Full PITI with financed upfront MIP, annual MIP, taxes, insurance and HOA.

FHA MIP Calculator

Upfront and annual mortgage insurance premiums by LTV, term and base loan amount, per HUD ML 2023-05.

Affordability & DTI Calculator

How much home you can buy using FHA's 31/43 ratios and manual-underwriting limits.

Refinance Break-Even Calculator

Monthly savings, break-even month and lifetime interest for a rate-and-term refinance.

Closing Cost Estimator

Line-by-line estimate of lender, third-party, prepaid and escrow costs on an FHA loan.

FHA vs Conventional Comparison

Side-by-side rules plus a live monthly-payment comparison including MIP vs PMI.

FHA 203(k) Renovation Calculator

Maximum 203(k) mortgage from as-is value, repair bid and after-improved value, with contingency reserve and fees.

Streamline Net Tangible Benefit Test

Check an FHA Streamline against HUD's combined-rate benefit thresholds plus the 210-day and payment-history tests.

FHA Cash to Close Calculator

Down payment, fees and prepaids less earnest money, the 6% seller credit cap, gift funds and down payment assistance.

County FHA Loan Limit Lookup

The 2026 one- to four-unit FHA maximum for any U.S. county, from the HUD CHUMS dataset.

Down Payment Assistance Finder

Florida and Colorado assistance programs with an estimator for the second-lien structure.

Credit Score by Loan Program

Minimum FICO scores for FHA, VA, USDA, conventional and jumbo — and what they mean.

Ready to see what you qualify for?

Talk with a licensed FHA broker about your scenario. Licensed in Florida and Colorado.

Start My ApprovalCall 877-813-7219

Quick answers

Are these estimates or quotes?
Estimates. A pre-approval uses your actual credit, income, and the specific property's taxes and insurance.
Which tool should I start with?
The affordability calculator — it tells you the price range to shop before you look at payments.
Do the tools include down payment assistance?
The pre-approval does. Remember to add the FHA DPA second-lien payment to your total housing cost.
Are these calculators the same as a pre-approval?
No. They are educational estimators. A pre-approval requires a lender's review of your credit, income, and asset documentation.
Do the tools store my information?
The calculators run in your browser for estimates. Information is only submitted when you choose to send a request through a form.
Where do the tool assumptions come from?
Each tool lists its methodology and the HUD source for MIP factors and limits, with the verified date.
Are the tools accurate for Colorado and Florida?
The FHA mechanics apply nationwide; local accuracy depends on the tax and insurance figures you enter for your county.
Can I use these for a refinance?
Yes — the break-even and streamline benefit tools are refinance-specific, and the payment calculator works for either.
Can I save or print an estimate?
Yes. Estimates can be printed or saved from your browser, and the assumptions are shown on the page so the numbers can be checked later.
Do the tools give me a rate?
No. You enter a rate assumption to model a scenario. We do not publish or advertise rate offers on this site.
Do results change when FHA figures change?
Yes. The tools read from the site's central 2026 limits and MIP registry, so an updated HUD figure updates every tool.
Included with your FHA estimate

Get your FHA Pre-Approval Summary.

Complete the short form and we send back a full FHA breakdown: your county loan limit, the minimum FHA down payment, financed upfront MIP, monthly mortgage insurance, and an estimated payment — plus whether down payment assistance can cover your cash to close.

  • Maximum FHA loan amount for your county
  • Minimum FHA down payment and cash-to-close estimate
  • Upfront and annual MIP included
  • Estimated monthly payment with taxes and insurance
Get my FHA estimate

Takes about 3 minutes · No obligation · Summary emailed and shown on screen

Illustration only, generated from the information you enter. Not a Loan Estimate, pre-qualification, commitment to lend, or approval. Subject to appraisal, credit and income review, FHA guidelines, and final lender approval. Equal Housing Opportunity.

FHA Estimate Summary
Purchase price
$385,000
Down payment (3.5%)
$13,475
Base loan amount
$371,525
Financed UFMIP (1.75%)
$6,502
Est. monthly payment
Shown in your summary

Sample figures for illustration only — not a quote, rate lock, offer of credit or commitment to lend. Simply Approved Mortgages · NMLS #2620881 · Equal Housing Opportunity

Weighing it up

Pros and cons of FHA financing

The trade-offs below are specific to FHA financing. Reviewed August 23, 2026 against HUD Handbook 4000.1 and the current HUD county loan limit file.

What works in your favor

  • 3.5% down from a 580 FICO, with 100% of the down payment giftable.
  • Seller contributions of up to 6% of the sale price toward closing costs.
  • No income caps, and higher DTI is possible with documented compensating factors.

What to plan around

  • Annual mortgage insurance for the life of the loan at 3.5% down.
  • County loan limits cap the financed amount, not the purchase price.
  • HUD minimum property standards apply at appraisal.
Worked example

The FHA numbers behind this page

A $425,000 example shows the cash and loan structure FHA produces before pricing is added.

The FHA numbers behind this page
Purchase price$425,000
FHA down payment at 3.5%$14,875
Base loan amount$410,125
Upfront MIP at 1.75%, financed$7,177
Conventional 20% down for comparison$85,000

Illustration only — not a quote, rate lock, offer or commitment to lend. Subject to lender underwriting and approval.

Document checklist

What documents you need for FHA financing

This is the set an FHA underwriter typically asks for. Having it ready before you write an offer is the single biggest difference between a two-week and a six-week file.

Identity and residency

  • Government-issued photo ID and Social Security number
  • Two-year residence history with landlord contact where you rented

Assets

  • Two months of statements for every account used for down payment or reserves
  • A signed gift letter plus the donor's source of funds for any gifted money
  • Retirement statements when reserves are drawn from those accounts

Property and credit

  • Fully executed purchase contract with all addenda
  • Homeowners insurance quote, plus flood coverage where required
  • Written explanation for credit events, plus bankruptcy or foreclosure paperwork if applicable
Income documentation

Self-employed vs. W-2 employed: what it means for your FHA loan

Income documentation is where most FHA files slow down, and it depends on how you are paid. FHA does not apply a different credit score, down payment or county limit to self-employed borrowers — it applies a different documentation standard.

FHA documentation differences between W-2 employed and self-employed borrowers
ItemW-2 employedSelf-employed
History requiredTwo-year employment history, with gaps explained. A job change inside the same field is usually fine.Generally two years of self-employment. A shorter history can sometimes be considered when there is documented prior experience in the same line of work.
How income is calculatedBase pay from pay stubs and W-2s. Bonus, overtime and commission generally need a two-year history to be averaged in.Net income from tax returns, averaged and adjusted for allowable add-backs such as depreciation. Write-offs that reduce taxable income also reduce qualifying income.
Documents that open the file30 days of pay stubs, two years of W-2s, and a verification of employment.Two years of personal and business returns, year-to-date P&L and balance sheet, and evidence the business is still operating.
Verification at closingThe employer is re-verified shortly before closing; do not change jobs mid-process without telling your loan officer.Continued existence of the business is re-verified close to closing, typically through a third-party or licensing check.
Most common delayUnexplained gaps, a new job with variable pay, or a VOE the employer never returns.A declining year over year, or a large deduction that removes the very income needed to qualify.
What we suggestGet the VOE moving on day one — it is the item most often outstanding at the end.Have your accountant produce the year-to-date P&L before you shop, so qualifying income is known before you write an offer.

If you are W-2 employed

  • Pay stubs covering the most recent 30 days
  • W-2 forms for the last two years
  • A verification of employment; HUD Handbook 4000.1 Update 18 tightened the written and electronic VOE rules, so expect the employer record to be verified directly
  • Documentation of bonus, overtime or commission income if you want it counted

If you are self-employed

  • Two years of personal federal tax returns, all schedules
  • Two years of business returns for a partnership, S-corp or C-corp, plus K-1s
  • A year-to-date profit and loss statement and balance sheet
  • Business license, CPA letter or equivalent evidence the business is active

General FHA documentation guidance per HUD Handbook 4000.1, including Update 18 changes to written and electronic verification of employment. Requirements vary by borrower, property, lender and program, and all loans are subject to lender underwriting and approval. Sources: HUD Handbook 4000.1

Run the numbers for your county

FHA payment, affordability, closing cost and refinance calculators for the United States

Prefilled with the 2026 HUD reference median of $415,000 for the United States, a 0.90% effective property tax rate and a directional $2,300 annual homeowners premium. Change any input — the interest rate is your own assumption, not an offer.

$
%

FHA minimum is 3.5% at 580+ credit.

%

Your assumption — not a quoted rate.

yrs
%
$
Estimated total monthly payment
$3,262
Principal & interest
$2,576
FHA annual MIP
$184
Property tax
$311
Homeowners insurance
$192
Down payment
$14,525
Loan amount incl. financed UFMIP
$407,483
See Today's Rates

Figures are illustrations based on the values you entered — not an offer, rate lock, or commitment to lend. Emailing your scenario sends it to a licensed loan officer in Florida or Colorado.

Estimates for general educational purposes only. Interest rates shown are assumptions you enter, not quoted rates, and nothing here is a rate lock, APR, payment quote, pre-approval, offer or commitment to lend. Results exclude HOA dues, flood or wind policies, mortgage insurance changes, points and lender-specific fees. FHA upfront MIP of 1.75% and annual MIP of 0.55% follow HUD Mortgagee Letter 2023-05 for a 30-year term at 3.5% down. Property tax and insurance inputs are directional state references, not a parcel-level bill. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. Sources: HUD Mortgagee Letter 2023-05 (MIP) · HUD Mortgagee Letter 2025-23 (2026 loan limits) · U.S. Census Bureau ACS · NAIC homeowners insurance · CFPB Closing Disclosure

Taxes, insurance and local expenses

What owning actually costs in the United States

Mortgage pricing moves the payment a little. Property tax and insurance move it a lot, and they are entirely local. These figures are built from the 2026 HUD county dataset for the United States and national tax and settlement conventions, reviewed August 23, 2026.

Estimated ownership costs in the United States on a $415,000 home
CostEstimateHow it works here
Property tax$311 / moAbout 0.90% effective on $415,000 — roughly $3,735 a year. Millage is set locally, so verify the parcel's actual bill.
Homeowners insurance$192 / moDirectional $2,300 a year for a single-family owner policy in the U.S.. Wind, hail and flood may be separate policies.
FHA annual mortgage insurance$184 / mo0.55% of the $400,475 base loan at 3.5% down, 30-year term, per HUD Mortgagee Letter 2023-05.
FHA upfront MIP$7,0081.75% of the base loan, normally financed into the $407,483 total loan amount rather than paid in cash.
State transfer / documentary taxVariesTransfer, deed, recordation and mortgage taxes are set state by state — several states charge none at all.
Settlement conventionTitle/escrow stateA title or escrow company customarily conducts the closing and issues the policy.

The expense buyers here miss most

Property tax and homeowners insurance vary far more between two states than mortgage pricing does — always re-price the escrow on the exact county before you write an offer.

How this affects the FHA file

Taxes and insurance are part of the qualifying payment, so a $503 escrow in your county consumes debt-to-income capacity before a single dollar of principal and interest is counted. Underwriting uses the post-closing figures, not the seller's current bill.

Estimates for general education only — not a quote, rate, APR, pre-approval, offer or commitment to lend. Property tax rates are effective rates derived from U.S. Census Bureau ACS data; actual millage is set by county, city, school and special districts. Insurance figures are directional annual premiums, not quotes. Transfer, deed, recordation and mortgage taxes summarise state-level statutes; counties and municipalities frequently add their own. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Sources: U.S. Census Bureau — ACS property tax data · NAIC Homeowners Insurance Report · CFPB — understanding closing costs

Simply Approved Mortgages Expert Insight
How we use these tools · Last reviewed August 23, 2026

Use the calculators to frame questions, not to underwrite

These tools use published FHA formulas and current HUD limits, so they are a solid first pass on affordability, MIP, closing costs, and break-even. They cannot see credit history, income documentation, or property condition. We treat every calculator output as the starting point for a conversation with a licensed loan officer.

Our recommendation

Run the numbers here, then have them verified against your actual documents.

Simply Approved Mortgages · licensed mortgage broker · NMLS #2620881 · Equal Housing Opportunity
Ask Simply AI

Ask SAM anything about FHA loans in the United States

SAM is the Simply Approved Mortgages AI assistant, grounded in HUD Handbook 4000.1 and the 2026 HUD county limit file. It answers general FHA questions instantly. A licensed loan officer reviews every scenario before any terms are confirmed.

Hi — I'm SAM. Ask me about FHA loan limits, credit, mortgage insurance, down payment assistance or what an underwriter will need from you. General education only: I don't quote rates, and nothing I say is an offer or commitment to lend.

General information only — not advice, a quote, or an offer of credit.

Popular on this page

Talk to a licensed loan officer 877-813-7219

Ask Simply AI provides general educational information about FHA loan programs. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

Where to go next

Continue with the FHA topic that matches where you are, or talk to a licensed loan officer about your own numbers.

How FHA loans work

What FHA insurance is and who it fits.

FHA requirements

Credit, income, DTI and property rules.

FHA credit score rules

580 vs 500–579 and what they change.

Down payment & assistance

3.5% minimum, gift funds and DPA options.

Mortgage insurance (MIP)

Upfront and annual MIP, and how long it lasts.

FHA loan limits

County-by-county HUD maximums.

FHA closing costs

What you pay and what a seller can cover.

FHA loan programs

203(b), 203(k), streamline, cash-out and more.

FHA calculators

Payment, affordability, MIP and break-even tools.

First-time buyer guide

Step-by-step from budget to closing.

Start My Approval Contact a licensed loan officer Submitting a request is not an application, approval or commitment to lend.
Down Payment Assistance

The FHA DPA Program

Short on cash to close? Ask about the FHA DPA, offered through Simply Approved Mortgages: 2.5%, 3.5%, or 5% of your loan amount toward your down payment and closing costs, structured as a 10-year repayable second lien at your first-mortgage rate + 2%. FICO 580+, primary residence only — it's an option on every loan program on this site.

How it works

Three tiers. Real money toward your home.

  • 2.5% / 3.5% / 5% of the lesser of purchase price or appraised value
  • Pairs with FHA, Conventional, VA, and USDA first mortgages
  • 10-year repayable second lien — no silent forgivable strings
  • Available to FICO 580+ primary-residence buyers
Full DPA program details
Not available in: New York, Washington, U.S. Virgin Islands, Guam, Northern Mariana Islands, and American Samoa. All loans subject to underwriting approval and program guidelines.
Amount calculator & eligibility checker

See how much assistance you may qualify for

Enter a purchase price, pick an assistance tier, and confirm property and residency. Results are illustrative — not a quote or commitment.

Simply Approved Mortgages DPA

DPA amount calculator & eligibility checker

Estimate 3.5% assistance on the lesser of price or appraisal, layered over a 30-year fixed FHA first mortgage.

Estimated DPA
$14,000
3.5% of $400,000
2nd-lien P&I
$174
10-yr · 8.500%

Amount calculator

Assistance tier
Lesser of price or appraisal
$400,000
DPA at 3.5%
$14,000
2nd-lien term
10-year fixed, repayable
2nd-lien rate
8.500%
Monthly P&I
$174/mo

Illustrative only — not a quote, lock, offer, or commitment to lend. Binding figures appear only on your Loan Estimate and Closing Disclosure.

Eligibility checker

Documentable qualifying income?

Willing to complete homebuyer education before closing?

Property in NY, WA, USVI, Guam, MP, or AS?

Answer each question above to see your preliminary result.

See Today's Rates

Figures are illustrations based on the values you entered — not an offer, rate lock, or commitment to lend. Emailing your scenario sends it to a licensed loan officer in Florida or Colorado.

Preliminary self-check only — no credit pulled. Not a quote, lock, offer, or commitment to lend. Simply Approved Mortgages is not affiliated with HUD, FHA, VA, USDA, FHFA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.

Our pricing philosophy

Transparency. Simplicity. Consumer Choice.

At Simply Approved Mortgages, we believe borrowers deserve clear information, professional guidance, and access to competitive mortgage solutions.

Our company is built around a straightforward philosophy: provide transparent mortgage guidance, maintain a consistent compensation structure on most transactions, and help borrowers make informed financing decisions based on their individual needs and goals.

For many mortgage transactions, Simply Approved Mortgages typically operates using a lender-paid compensation structure of approximately 1.50%. Actual compensation may vary based on lender requirements, loan program, state regulations, loan amount, and other transaction-specific factors.

We believe transparency helps consumers better understand the mortgage process and make informed decisions when comparing financing options.

Our promise

Mortgage financing should be understandable, transparent, and focused on helping consumers make informed decisions.

Our goal isn't to maximize compensation per transaction. Our goal is to build lifelong client relationships through transparency, service, and competitive mortgage solutions.

Why compensation transparency matters

Understanding all aspects of the financing process

Many borrowers spend significant time comparing interest rates, but may be less familiar with how mortgage companies and loan originators are compensated.

Compensation structures can vary among lenders, mortgage brokers, banks, credit unions, and other mortgage providers. Compensation is only one component of a mortgage transaction and should be evaluated alongside interest rates, APR, lender fees, discount points, closing costs, loan features, and overall loan suitability.

At Simply Approved Mortgages, we believe consumers benefit from understanding all aspects of the financing process before making a decision.

Interactive illustration

See how compensation scales by loan amount

Move the slider to compare a hypothetical 1.50% Simply Approved Mortgages compensation structure with a hypothetical 2.75% used by some other lending options. For educational purposes only.

$400,000
$50,000$2,000,000
Typical market comp at 2.75%$11,000
Simply Approved Mortgages at 1.50%$6,000
Potential closing cost difference
Hypothetical impact on lender compensation only
~$5,000

For illustration only. Figures are hypothetical and not a quote, offer, rate lock, or guarantee of savings. Lender compensation is one component of closing costs; actual loan terms, interest rates, fees, APR, and total costs vary by program, loan amount, credit qualifications, property, occupancy, state, and market conditions.

Illustrative compensation comparison

Comparing a hypothetical 1.50% to a hypothetical 2.75%

The example below compares a hypothetical 1.50% compensation structure used by Simply Approved Mortgages to a hypothetical 2.75% structure used by some other lending options, solely for educational purposes.

Loan AmountSimply Approved Mortgages (1.50%)Other lending options (2.75%)Difference
$250,000$3,750$6,875$3,125
$350,000$5,250$9,625$4,375
$500,000$7,500$13,750$6,250
$750,000$11,250$20,625$9,375
$1,000,000$15,000$27,500$12,500

These examples are illustrative only and are intended to demonstrate how different compensation percentages may produce different compensation amounts based on loan size.

These examples do not represent borrower fees, interest rates, APR, closing costs, loan terms, pricing, or savings, and should not be interpreted as a guarantee that any borrower will receive lower costs or better loan terms.

Our commitment to borrowers

Our goal is to provide

  • Professional mortgage guidance
  • Transparent communication throughout the loan process
  • Access to a broad range of mortgage programs
  • Competitive financing options based on borrower qualifications
  • A streamlined application and approval experience
  • Support for homebuyers, homeowners, and real estate investors
A team-focused approach

Support for every type of borrower

Whether you're purchasing a home, refinancing an existing mortgage, consolidating debt, or financing an investment property, our team is committed to helping you evaluate available options and make informed decisions.

Compare more than just the interest rate

When evaluating mortgage options, borrowers should consider the complete financing package

  • •Interest Rate
  • •Annual Percentage Rate (APR)
  • •Lender Fees
  • •Discount Points
  • •Closing Costs
  • •Loan Features and Flexibility
  • •Prepayment Terms
  • •Product Eligibility Requirements
  • •Customer Service and Support

The most appropriate mortgage solution depends on each borrower's individual financial circumstances, objectives, qualifications, and preferences.

Important Disclosure: Simply Approved Mortgages LLC typically utilizes a lender-paid compensation structure of approximately 1.50% on many mortgage transactions; however, compensation may vary based on lender requirements, loan program, state law, loan amount, borrower qualifications, and other transaction-specific factors. Compensation is only one component of mortgage pricing and does not, by itself, determine interest rates, APR, lender fees, closing costs, loan terms, or overall borrower costs. The information provided on this page is for general educational and informational purposes only and should not be construed as mortgage advice, a commitment to lend, an offer to extend credit, a rate quote, a loan approval, or a guarantee of savings. All mortgage loans are subject to credit approval, underwriting requirements, property approval, and program eligibility guidelines. Borrowers should carefully review all disclosures, including the Loan Estimate and Closing Disclosure, before proceeding with any mortgage transaction. Simply Approved Mortgages LLC • NMLS #2620881 • Equal Housing Opportunity.

Ready when you are

Get pre-qualified in minutes — no obligation.

Talk to a licensed Simply Approved Mortgages loan officer. We'll review your goals, walk through FHA, Conventional, VA, USDA, and DPA options, and give you straight answers — same day.

Start My ApprovalSee Today's Rates

Simply Approved Mortgages • NMLS #2620881 • Licensed in Colorado and Florida

Quick pre-qualification

Share a few details and a licensed loan officer will follow up within one business day. No obligation.

1
2

Simply Approved Mortgages LLC arranges residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Step 1 of 2 — takes about 30 seconds. Step 2 is optional detail you can skip anytime by calling us.

Simply Approved Mortgages LLC | NMLS #2620881 — a mortgage broker, not a direct lender. Submitting this form is an inquiry only; it is not an application, quote, pre-approval, approval or commitment to lend. All loans are subject to lender underwriting and approval. Equal Housing Opportunity. See our Privacy Notice.

People also search for

Related FHA topics for this page — tap any question to jump straight to the answer.

From the blog

Related reading

View all articles →
FHA Homebuyer Newsletter

FHA rate moves, county loan limits, and guideline changes — in your inbox.

Twice-a-month updates for buyers and homeowners: rate movement, FHA guideline changes, new down payment assistance programs, and the deals we're closing. No spam, unsubscribe anytime.

  • Weekly FHA rate snapshot
  • County loan limit updates
  • First-time buyer playbooks
  • DPA & program change alerts
FHA Newsletter

FHA rate updates, market trends, and program changes. No spam.

By subscribing, you consent to receive FHA rate and program update emails from Simply Approved Mortgages LLC. This is not an application for credit and not an offer or commitment to lend. Unsubscribe any time. Read our Privacy Notice.