fha payments: How To Calculate An FHA Mortgage Payment - Revised w/ 2015 MMI Changes - 02/07/15 02:45 AM
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 2015-01.
 
 
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 … (0 comments)

fha payments: How To Calculate an FHA Mortgage Payment - 02/15/14 04:51 AM
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 … (11 comments)

 
Jason E. Gordon, Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE (CMG Mortgage, San Diego, CA)

Jason E. Gordon

Sr Loan Officer, CMA, CMPS, CDLP, CDRE, RCSD, CDPE

San Diego, CA

More about me…

CMG Mortgage, San Diego, CA

Address: 11440 W. Bernardo Court, Ste. 300, San Diego, California, 92127

Mobile: 619-200-8031

Author Bio: Jason Gordon is a Residential Mortgage Specialist in San Diego, CA. He combines ethics, education, and experience while helping Homebuyers and Homeowners to achieve their financial goals.View all AR Posts By Jason Gordon

  • Blog
  • Google+


    • Listings

    Links

    Archives

    RSS 2.0 Feed for this blog