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FHA Loan Calculator for Illinois - 2021

FHA down payment and mortgage calculator – The Illinois FHA loan calculator will estimate the down payment and maximum FHA loan amount for one, two, three, and four unit owner occupied homes in Illinois. The minimum down payment for an FHA home loan is only 3.5%. Calculating the monthly FHA mortgage payment has become rather difficult in recent years due to the numerous changes to the monthly FHA mortgage insurance premium, however, this calculator will easily estimate the monthly mip with different down payment amounts. You can also calculate the monthly FHA mortgage payment with taxes and insurance for both 15 and 30-year terms.  Learn more about FHA loans. Last updated 1/2021

	Illinois FHA Loan & Funding Fee Calculator
	Illinois County			Adams Alexander Bond Boone Brown Bureau Calhoun Carroll Cass Champaign Christian Clark Clay Clinton Coles Cook Crawford Cumberland DeWitt Dekalb Douglas Dupage Edgar Edwards Effingham Fayette Ford Franklin Fulton Gallatin Greene Grundy Hamilton Hancock Hardin Henderson Henry Iroquois Jackson Jasper Jefferson Jersey JoDaviess Johnson Kane Kankakee Kendall Knox Lake Lasalle Lawrence Lee Livingston Logan Macon Macoupin Madison Marion Marshall Mason Massac Mcdonough Mchenry Mclean Menard Mercer Monroe Montgomery Morgan Moultrie Ogle Peoria Perry Piatt Pike Pope Pulaski Putnam Randolph Richland Rock Island Saline Sangamon Schuyler Scott Shelby St Clair Stark Stephenson Tazewell Union Vermilion Wabash Warren Washington Wayne White Whiteside Will Williamson Winnebago Woodford
	Number of Living Units			One-Family Two-Family Three-Family Four-Family
1.	Sales Price
2.	Down Payment =			3.50 Minimum 4.00 4.50 5.00 5.50 6.00 6.50 7.00 7.50 8.00 8.50 9.00 9.50 10.00 10.50 11.00 11.50 12.00 12.50 13.00 13.50 14.00 14.50 15.00 15.50 16.00 16.50 17.00 17.50 18.00 18.50 19.00 19.50 20.00 20.50 21.00 21.50 22.00 22.50 23.00 23.50 24.00 24.50 25.00 25.50 26.00 26.50 27.00 27.50 28.00 28.50 29.00 29.50 30.00 30.50 31.00 31.50 32.00 32.50 33.00 33.50 34.00 34.50 35.00 35.50 36.00 36.50 37.00 37.50 38.00 38.50 39.00 39.50 40.00 40.50 41.00 41.50 42.00 42.50 43.00 43.50 44.00 44.50 45.00 45.50 46.00 46.50 47.00 47.50 48.00 48.50 49.00 49.50 50.00
3.	Term			30-years 15-years
4.	FHA Maximum Mortgage Amount
5.	Base Mortgage Amount
6.	FHA Funding Fee (UFMIP) +
7.	Mortgage Amount (Final) =
	Monthly Mortgage Payment
8.	Principal & Interest		0.000 % 1.000 % 1.125 % 1.250 % 1.375 % 1.500 % 1.625 % 1.750 % 1.875 % 2.000 % 2.125 % 2.250 % 2.375 % 2.500 % 2.625 % 2.750 % 2.875 % 3.000 % 3.125 % 3.250 % 3.375 % 3.500 % 3.625 % 3.750 % 3.875 % 4.000 % 4.125 % 4.250 % 4.375 % 4.500 % 4.625 % 4.750 % 4.875 % 5.000 % 5.125 % 5.250 % 5.375 % 5.500 % 5.625 % 5.750 % 5.875 % 6.000 % 6.125 % 6.250 % 6.375 % 6.500 % 6.625 % 6.750 % 6.875 % 7.000 % 7.125 % 7.250 % 7.375 % 7.500 % 7.625 % 7.750 % 7.875 % 8.000 % 8.125 % 8.250 % 8.375 % 8.500 % 8.625 % 8.750 % 8.875 % 9.000 % 9.125 % 9.250 % 9.375 % 9.500 % 9.625 % 9.750 % 9.875 % 10.000 % 10.125 % 10.250 % 10.375 % 10.500 % 10.625 % 10.750 % 10.875 % 11.000 %
9.	Annual Real Estate Taxes
10.	Annual homeowner's insurance
11.	Other
12.	FHA MIP =
13.	MONTHLY MORTGAGE PAYMENT =
	Based on January 9, 2015 change
	Monthly Mortgage Insurance (MIP) Calculation
Loan Term greater than 15-years (i.e 30-years)
	Base Loan Amount	LTV	Effective	Annual MIP
	≤ $625,500	≤ 95.00%	1/26/2015	0.80%
	≤ $625,500	> 95.00%	1/26/2015	0.85%
	> $625,500	≤ 95.00%	1/26/2015	1.00%
	> $625,500	> 95.00%	1/26/2015	1.05%
Loan term less than or equal to 15-years with loan to value above 78%
	Base Loan Amount	LTV	Effective	Annual MIP
	Any loan amount	< 78.00%	6/3/2013	0.45%
	≤ $625,500	78.01% - 90.00%	4/1/2013	0.45%
	≤ $625,500	> 90.00%	4/1/2013	0.70%
	> $625,500	78.01% - 90.00%	4/1/2013	0.70%
	> $625,500	> 90.00%	4/1/2013	0.95%