Northern Virginia FHA loan calculator

What will an FHA loan cost you—in cash and each month?

Give me the price, down payment, and loan terms you are considering. I will separate the upfront mortgage insurance, annual mortgage insurance, closing cash, and monthly payment so you can see what each number is doing.

Go straight to the calculator Start the guided worksheet

By Abraham Walker · Northern Virginia real estate agent · Research reviewed August 20, 2026

AWLet’s start with the price and the money you plan to put down.

Step 1 · purchase plan

What price are you considering?

FHA does not mean “no down payment.” The minimum is commonly 3.5% when the borrower meets the program’s credit requirements, but you can test a larger exact amount too.

Enter a percentage of the purchase price. You may switch to an exact dollar amount without changing the plan.
Your down payment is $24,500, leaving a base FHA loan of $675,500.
AWNow we separate the two kinds of FHA mortgage insurance.

Step 2 · FHA loan

How will the loan itself be structured?

The upfront mortgage insurance premium is normally 1.75% of the base loan. Financing it reduces cash due now, but it increases the amount you borrow. Annual mortgage insurance is separate and is paid monthly.

Use the note rate from a written Loan Estimate—not APR. This example is not a quote.
Your lender and final documents control.
Compared with the maintained 2026 one-unit FHA limit. Program data last verified August 20, 2026.
The upfront premium is $11,821. Your modeled total financed loan is $687,321.
Why are there two FHA mortgage-insurance charges?

The upfront premium helps fund the FHA insurance program and may be financed. The annual premium is calculated from the scheduled balance and usually appears as a monthly charge. Neither is homeowners insurance.

AWNext, let’s estimate what may leave your account at closing.

Step 3 · closing cash

What else is in your cash-to-close number?

Down payment is only one piece. Lender, title, settlement, recording, appraisal, prepaid, and escrow items can also appear. The percentage below is only a planning placeholder until you have a written Loan Estimate.

Enter a percentage of the purchase price. Switch to an exact amount when you have a written Loan Estimate.
Usually credited back to you at settlement; it is not counted twice.
The estimate limits usable credits to modeled eligible charges and a 6% planning cap.
Estimated cash still due at closing: $25,500.
Could a credit go unused?

Yes. Credits are usually limited by the contract, loan program, and eligible costs. An unused amount may not become cash back. Confirm the permitted use with the lender and settlement company.

AWNow we build the first-year housing payment one piece at a time.

Step 4 · monthly payment

What will you budget each month?

Principal and interest are only part of the housing payment. Property tax, homeowners insurance, FHA mortgage insurance, and association dues can materially change the monthly number.

Replace this with the property’s current annual bill or lender estimate.
Use a written insurance quote when available.
Estimated first-year monthly housing payment: $4,900, including an estimated $310 monthly FHA mortgage-insurance charge.
AWHere is the part I would compare before you decide the payment “works.”

Your planning answer

$25,500 estimated at closing and $4,900 per month.

This separates today’s cash from the financed amount and the first-year monthly FHA mortgage-insurance estimate.

Educational planning estimate—not a quote, approval, Loan Estimate, or professional advice. Read the important limitations.

Base FHA loan$675,500
Total financed loan$687,321
Annual MIP durationMortgage term
Usable credits$10,000
Potentially unused$0
2026 FHA limit comparisonWithin limit

How the purchase price becomes cash and debt

Each bar uses the purchase price as its scale. The orange bar is the upfront premium added to the loan when financed.

Down payment
Base FHA loan
Upfront MIP

Minimum-down view

3.5% down

cash at closingfirst-year monthly housing

Lower-MIP-duration view

10% down

cash at closingfirst-year monthly housing

Edit price or down paymentEdit loan termsEdit closing cashEdit monthly costs

Retain your numbers

Want me to quality-check and email this worksheet?

You may use and adjust the calculator freely. To retain the personalized plan, send the request and I will review the entries before emailing it. No cost. No obligation.

Submitting a request does not create a lending, brokerage, agency, tax, or legal relationship. I will quality-check the worksheet before emailing it to you.

Important limitations

Educational estimate. This tool provides a planning estimate based on the information you enter and the assumptions shown. It is not financial, lending, legal, tax, insurance, appraisal, or settlement advice; a credit decision or preapproval; a commitment to lend; a property valuation; or a guarantee of costs, savings, eligibility, or future results. Actual terms and amounts depend on the property, contract, market, jurisdiction, timing, and the professionals and service providers involved. Verify the figures that matter using current written information from the appropriate lender, settlement company, attorney, tax professional, insurance professional, association, or government agency.

This is not a lender-issued Loan Estimate. Your lender determines qualification, interest rate, points, mortgage insurance, lender credits, program eligibility, and final cash required. Compare current written Loan Estimates when evaluating loan offers.

No brokerage relationship is created. Using this tool, requesting results, submitting a form, or contacting Ask A Walker does not by itself create a client, agency, brokerage, fiduciary, lending, or other professional relationship. In Virginia, brokerage services and representation are governed by a separate written agreement signed by the applicable parties.

Keep working through the decision

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Common questions

What I would want you to understand before choosing FHA

Is the FHA upfront mortgage-insurance premium a closing cost?

It is a loan-program charge based on the base loan. You may often finance it, which lowers cash due now but raises the financed balance.

Does putting 10% down remove FHA mortgage insurance?

Not immediately. For many FHA loans with an original loan-to-value ratio at or below 90%, annual MIP is scheduled for 11 years; above 90%, it generally lasts for the mortgage term.

Is this the same as a lender’s Loan Estimate?

No. This is an educational planning tool. A lender’s written Loan Estimate contains the rate, fees, escrow items, credits, and program details that control your actual comparison.

Can the FHA loan limit change the answer?

Yes. The base loan—not the financed upfront premium—is compared with the applicable one-unit FHA limit. Property type and county matter.

Should I compare FHA with conventional financing?

Usually. Compare the total cash, interest rate, mortgage-insurance cost and duration, credit pricing, and how long you expect to keep the loan—not only the advertised payment.

Sources and calculation notes

How the estimate is built

The engine uses the values you enter, HUD’s upfront and annual mortgage-insurance structure, scheduled amortization, and editable housing-cost inputs. Final lender and settlement documents control.

Educational planning estimate only. This is not a Loan Estimate, approval, commitment, lender quote, tax or legal advice, or brokerage agreement. HUD, the lender, the property, the appraisal, the selected program, and final documents control. No relationship is created by using the tool or requesting a reviewed copy.