• Principal & Interest (P&I)
  $611
• Taxes & HOA
  $150
• Homeowner's Insurance
  $44
• Annual MIP
  $104

Estimated Taxes & Insurance: Property taxes are generally estimated to be 0.52 to 0.68% of the home's value but may vary based on your location. Your Loan Officer can help you determine property tax rates in your area. Annual homeowners' insurance is typically 0.25% to 0.35% of the home's value but can vary based on insurer.

Annual MIP The Annual MIP ranges from 0.45% to 1.05% depending on loan term, loan amount and down payment. However, for most FHA borrowers, the Annual MIP is 0.85% of the loan amount. The Annual MIP can last for the life of the loan, or be removed after 11 years if the original down payment is 10% or more.

Upfront MIP The Upfront MIP, sometimes referred to as the FHA funding fee, is 1.75% of the loan amount. This fee is due at closing and is typically financed into the entire loan amount to reduce out of pocket costs.

Amount Financed Purchase Price (-) Down Payment (+) Upfront MIP