FHA LOAN CALCULATOR
Estimate Your Monthly Payment on a FHA Home Loan in Ohio
| House Price: | $0 |
| Down Payment: | $0 |
| Upfront MIP (1.75%): | $0 |
| Loan Amount: | $0 |
Total Monthly Payment
| Principal & Interest: | $0.00 |
| Monthly Property Taxes: | $0.00 |
| Monthly Insurance: | $0.00 |
| Monthly Mortgage Insurance: | $0.00 |
| Monthly HOA: | $0.00 |
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FHA Loan Calculator: Estimate Your Monthly Payment
If you’re considering an FHA loan to buy a home in Lebanon, South Lebanon, Maineville, or anywhere in Ohio, this free FHA loan calculator can help you estimate your monthly payment, loan amount, and upfront costs — including the FHA Up Front Mortgage Insurance Premium (UFMIP).
By entering just a few key details, you’ll see exactly how an FHA loan shapes your monthly budget and how financing your UFMIP affects your loan total.
How This FHA Mortgage Calculator Works
This calculator lets you customize:
- Purchase Price
- Loan Term (years)
- Down Payment %
- Interest Rate
- Annual Property Taxes
- Annual Homeowners Insurance
- Finance UFMIP? (Yes/No)
The FHA loan calculator instantly shows:
- Your FHA Up Front Mortgage
- Insurance Premium (UFMIP) amount
- Total Loan Amount (including financed UFMIP if applicable)
- Estimated Monthly Payment – broken down
It’s a simple, clear way to understand the true monthly cost of an FHA loan — and why it’s such a popular option for both first-time and experienced buyers in Southwest Ohio.
Why Choose an FHA Loan?
FHA loans offer flexible, affordable options for many buyers:
- Low Down Payments: As little as 3.5% down for qualified buyers
- Easier Qualification: Designed for lower credit scores and higher debt-to-income ratios
- Competitive Rates: FHA mortgage rates often compare favorably to conventional loans
- No Maximum Income Limits: FHA loans are available to a wide range of buyers
One important cost to factor in is the Up Front Mortgage Insurance Premium (UFMIP), typically 1.75% of the loan amount. This fee can be paid at closing or rolled into your loan — which our calculator shows instantly.
Learn more about FHA loans here:
Ohio FHA Loan Information
Or visit the HUD official site for national FHA program guidelines.
Why This FHA Calculator Matters
Many buyers mistakenly believe they need 20% down to buy a home — or they underestimate how much FHA mortgage insurance will impact their monthly budget.
This calculator makes it easy to:
- See the real monthly cost of buying with an FHA loan
- Understand the impact of UFMIP financing vs paying upfront
- Plan your purchase based on real numbers, not guesswork
- Compare FHA loan scenarios side-by-side with other options
Whether you’re buying your first home or making a fresh start, knowing your numbers early gives you more negotiating power — and peace of mind.
A Trusted FHA Mortgage Expert in Southwest Ohio
I’m T.C. Strait, a licensed mortgage broker based in Mason, OH, helping homebuyers across Lebanon, South Lebanon, and all of Southwest Ohio secure the right loan for their goals.
I’ve helped hundreds of buyers use FHA financing to purchase homes with confidence — and nothing makes me prouder than making the mortgage process easy for my clients.
Here’s what one recent client had to say:
“We weren’t first-time homebuyers, but we were still amazed at how much we learned about FHA loans from our mortgage lender. TC made the FHA mortgage loan process a breeze. With a fast pre-approval and incredible rates, TC is the go-to for anyone looking to buy a home in Cincinnati!”
— Jimi T., March 28, 2024
If you’re considering an FHA loan, I’ll walk you through every step and help you explore whether it’s the best fit for your situation — no pressure, just honest advice.
Frequently Asked Questions About FHA Loans
How much is the FHA Up Front Mortgage Insurance Premium (UFMIP)?
The standard UFMIP is 1.75% of your loan amount. You can either pay it at closing or finance it into your mortgage — which this calculator shows.
Is monthly mortgage insurance required on an FHA loan?
Yes. FHA loans require monthly mortgage insurance (MIP), which continues for either 11 years or the life of the loan, depending on your down payment amount.
Can I use an FHA loan if I’ve bought a home before?
Absolutely. FHA loans aren’t just for first-time buyers. Many repeat buyers use FHA financing when it makes financial sense.
What credit score is needed for an FHA loan?
FHA guidelines allow for credit scores as low as 580 with 3.5% down, and sometimes even lower with a higher down payment — although lender overlays may vary.
Does this calculator include taxes and insurance?
Yes. The monthly payment estimate includes principal, interest, property taxes, homeowners insurance, and monthly FHA mortgage insurance (MIP).
Ready to Get Pre-Approved for an FHA Loan?
Knowing your numbers is the first step. Getting pre-approved is the next.
If you’re ready to see what you qualify for — or if you have questions about FHA financing in Ohio — I’m here to help.
Get pre-approved today and take the first step toward homeownership.