Download your Estimate in PDF! Calculating your monthly mortgage payment for condo home loan is a key element in determining how much house you can afford. The most common mortgage terms are 15 years and 30 years. Monthly payment including principal, interest, homeowners insurance and.
Principal (the amount you will borrow) and interest (the lender’s charge for lending you money) usually make up the main components of your monthly mortgage payment. Your total monthly payment will typically be more than this amount due to taxes and insurance..
Fha 2015 Loan Limits Fha Mip Calculator Use this fha mortgage calculator to get an estimate. An FHA loan is a government-backed conforming loan insured by the Federal Housing Administration. FHA loans have lower credit and down payment requirements for qualified homebuyers. For instance, the minimum required down payment for an FHA loan is only 3.5%.