What is FHA and can I qualify for an FHA loan?
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.
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FHA Mortgage Limits For Your Area
(Please contact a local FHA mortgage lender to find out the maximum mortgage for your area.)
FHA Mortgage Limit
What is your gross annual income?
What are your monthly expenses?
At what interest rate do you hope to secure this loan?
You could probably qualify for this amount of money.
You would have to come up with this amount of cash to close the mortgage.
This is what your monthly payments would be.
This is what mortgage points and insurance would cost you.
This is what taxes, insurance and other FHA loan closing costs would be.
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.