Payment estimator

The full monthly obligation and the real cash to close. Every fixed fee here is published in the product matrix, and every assumption is yours to change.

Your numbers

Home priceDown payment (%)Lender origination (%)FHA loan rate (%)Program margin over the rate (%)Property tax rate (%)Homeowners insurance per yearFHA annual MIP (%)Monthly program feeThe home is in an HOALong-Term Purchase Agreement form

Your monthly payment

$3,856

8% = 6.5% + 1.5%

Principal and interest, 40-year schedule$3,019.39

Mortgage insurance$199.03

Property taxes$412.50

Homeowners insurance$150.00

Program administration fee$75.00

Total$3,855.92

Cash to close

Down payment (3.5%)$15,750.00

Lender origination (1%)$4,500.00

Program underwriting and processing$1,250.00

Notary$150.00

Program management fee, 0.5% of price$2,250.00

Security deposit, refundable$100.00

First month's payment$3,855.92

Total$27,855.92

Soft second

The agency also carries a soft second of about $4,343, which is 1% of the loan. It has no payment and no interest, and it is reported as forgiven after 10 years. We have not been able to confirm this in the source documents, so treat it as reported, not verified.

What this assumes

The fixed program fees are published in the EEP Product Matrix v4.19, section 3.15.3, and they are exact. The loan rate and the program margin are not published, so they are your inputs. Change them and the whole estimate changes. Taxes and insurance are estimates and they move over time.

Estimate only. Not a quote, not a commitment to lend.