HUD Loan Calculator
Calculate monthly payment and eligibility for HUD loans including FHA insurance premiums and loan limits.
How it works
Calculates FHA loan payment including principal, interest, and mortgage insurance premium (MIP). Checks loan amount against county limits for eligibility.
Example
$300,000 loan at 6.5% with 0.55% MIP = $2,035 monthly payment (including MIP).
FAQ
What are HUD loan limits?
HUD/FHA loan limits vary by county and are based on local median home prices. In 2024, limits range from $472,030 to $1,089,300 for single-family homes.
What is mortgage insurance premium (MIP)?
MIP is required insurance on FHA loans. There's an upfront premium (1.75% of loan amount) and annual premium (0.15-1.05% depending on loan terms and LTV).
What are the minimum down payment requirements?
FHA loans require as little as 3.5% down with credit scores of 580+, or 10% down with scores between 500-579.
Who is eligible for HUD/FHA loans?
Primary residence buyers with steady income, acceptable credit (typically 580+), and debt-to-income ratios up to 57% may qualify.
Can MIP be removed from FHA loans?
For loans after June 2013 with >90% LTV, MIP lasts for the loan life. For ≤90% LTV, MIP can be removed after 11 years if LTV drops to 78%.