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How To Calculate an FHA Mortgage Payment
How to calculate an FHA mortgage payment has evolved again, now that the most recent Monthly Mortgage Insurance changes have been implemented via HUD Mortgagee Letter 2013-04 (13-04)

How to calculate an FHA mortgage payment
 
Step 1: Determine the loan amount

Purchase Price x .965 = Base Loan Amount (assuming the Borrowers opt for the minimum 3.50% down payment)
Base Loan Amount x .0175 = Up Front Mortgage Insurance Premium (UFMIP)
Base Loan Amount + UFMIP = Final Loan Amount

Step 2: Determine the monthly payment
       1.    Principal + Interest Payment Calculation
• Click here to access a free mortgage payment calculator for principal + interest payments
           2.    Property Taxes = Purchase Price of home x 0.0125 divided by 12 months
3.    Monthly Mortgage Insurance (MMI) = Base Loan Amount x 0.0135 divided by 12 months
• Note: If the down payment is 5.00% or more, you will use 0.0130 instead of 0.0135 (see chart below for additional MMI options & scenarios)
4.    Homeowners Insurance (internal "walls-in" coverage: Feel free to estimate roughly $60.00 - $80.00 per month (this number will vary depending on your insurance coverage amounts and insurance company)
• Note: Other names ... more

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