FHA Loan Details
Closing Costs
FHA Loan Amount
Cash to Close
FHA Mortgage Insurance Premium (MIP)
Upfront MIP (1.75%) $5,068
Annual MIP $2,358/year
Monthly MIP $197/month
Upfront MIP is typically financed into the loan. Annual MIP is paid monthly as part of your mortgage payment.
Monthly Payment Breakdown
Principal & Interest $1,766
Monthly MIP $197
Total Monthly Payment $1,963
Does not include property taxes and homeowners insurance.
FHA Financing Breakdown
Base Loan
Financed MIP
Down Payment
Cash Required at Closing
Down Payment $10,500
Prepaid Expenses $3,000
Other Closing Costs $5,000
Total Cash to Close $18,500
FHA Loan Estimate Report
Generated:
Loan Information
| Home Price | $300,000 | Interest Rate | 6.00% |
| Down Payment | $10,500 (3.5%) | Loan Term | 30 years |
FHA Loan Summary
| Base Loan Amount | $289,500 |
| Upfront MIP (Financed) | $5,068 |
| Total FHA Loan | $294,568 |
Monthly Payment
| Principal & Interest | $1,766 |
| Monthly MIP | $197 |
| Total Payment | $1,963 |