What is FHA and can I qualify
for an FHA loan?
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| The Federal Housing Administration (FHA) is a federal
agency within the U.S. Department of Housing and Urban Development
(HUD). FHA's primary objective is to assist in providing housing
opportunities for low to moderate income families. FHA has both
single family (1-4 unit homes) and multi-family (5 or more units)
mortgage lending programs. The agency does not generally provide the
funds for the mortgages, but rather insures home mortgage loans made
by private industry lenders such as mortgage bankers, savings and
loans and banks.
Place your cursor in the fields and fill in the requested
information to the best of your knowledge. Use the tab key on your
keyboard to move through the form. Once the required fields are
completed, the form will automatically populate with the information
you have requested.
FHA Mortgage Limits For Your Area
(Please contact a local FHA mortgage lender to find out the
maximum mortgage for your area.)
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| $ |
What is your gross annual income? |
| $ |
What are your monthly expenses? |
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At what interest rate do you hope to secure this
loan? |
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You could probably qualify for this amount of
money. |
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You would have to come up with this amount of cash
to close the mortgage. |
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This is what your monthly payments would
be. |
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This is what mortgage points and insurance would
cost you. |
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This is what taxes, insurance and other FHA loan
closing costs would be. |
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Note: This calculator is provided to give
you a general idea. We cannot guarantee the accuracy or the
applicability to your situation. Please consult a qualified
professional. If you use a 0% interest value, the calculator will
automatically use a default value of .001. Please be aware that the
values may vary
slightly. |
