5.0 · 624 reviews · Jim Blackburn · NMLS #1072866
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FHA · 203k Renovation Purchase

FHA 203K Renovation Purchase Loan Payment Calculator

Buy and renovate in one loan. Estimate your total project costs, maximum FHA loan, full monthly payment with MI, cash to close, and the income needed to qualify.

Built by Jim Blackburn · NMLS #1072866 · $500M+ closed · 7× Scotsman Guide Top Producer

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Estimate with sold comps in the last 6 months.

3.5% minimum (DPA and gift funds allowed).

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Summary

Project Costs

Total Property Costs$410,000Purchase + renovation + 10% contingency.
6 Months Interest Reserves$14,350
Total Financeable Costs$441,324Includes ~4% estimated closing costs. Not a Loan Estimate.

Loan

Maximum FHA Loan Allowed$425,878
Desired Loan Amount$425,878
UFMIP (1.75%)$7,453
Final Loan Amount$433,331Base plus financed UFMIP.

Payment Breakdown

Principal & Interest Payment$2,833
Monthly Insurance$200
Monthly Taxes$300
Monthly MI$271
HOA (paid separately)$0
Total Monthly Housing Expense$3,604

Cash to Close

Without DPA or Seller Credit$15,446
With 6% Seller Credit$0
With Both DPA and Seller Credit$0
Monthly Income Target to Qualify$7,208FHA allows up to 43-50% DTI with compensating factors.
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Estimates only — not a commitment to lend.

Jim Blackburn

By Jim Blackburn

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Important Disclaimer

This calculator is for illustrative purposes only and does not constitute financial, legal, or investment advice. Results are based on general assumptions and may not reflect actual performance or eligibility. This is not a loan estimate or approval. Please consult with a licensed mortgage advisor before making financial decisions.

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