FHA Mortgage Insurance Calculator
- 1-unit home - $331,760
- 2-units (duplex) - $424,800
- 3-units - $513,450
- 4-units - $638,100
However, there are some high-cost US counties that exceed the typical loan amounts. For this reason, it is important to enter the maximum loan amount for the county where the home is located. The FHA calculator will increase the maximum loan amount for those high-cost counties.
When you click on the FHA County Loan Limit link above, a new window will open in your browser.
The window is the FHA loan limit lookup page. Choose the state and click “Send”. HUD/FHA will present the county FHA loan limits for the state chosen. The county is located on the fourth column (go figure). To the right of the county names are the loan limits for one, two, three, and four-unit homes. Enter the appropriate loan limit on line/box 4.
How to qualify for an FHA loan
The FHA home loan is the easiest mortgage to obtain. The down payment is only 3.5% and the seller can pay a large percentage of the buyer's closing costs and the FHA permits co-signers to support the loan application. Read more about FHA qualifications
What are the differences between an FHA loan vs conventional?
There are at least 10 differences between the FHA and conventional
loan. The maximum loan amounts are significantly different in most US
counties, the monthly mortgage insurance costs are totally different
and the seller paid closing costs are limited with conventional loans.
What are the FHA closing costs?
There are no additional closing costs associated with an FHA home loan, other than the mortgage insurance premium; although the mortgage insurance cost may be financed in the loan.
What are the FHA loan interest rates?
You might be surprised to know that the FHA interest rates can actually be lower than other mortgage programs. See FHA interest rates
What is the minimum credit score for an FHA loan?
The minimum credit score for an FHA mortgage is 500, however, even though the FHA will accept a 500 credit score doesn't mean that the lender will accept an applicant with a 500 credit score. Lenders can raise the credit bar over the minimum credit score set by the FHA. Read more