Mortgage Tool Bus
FHA vs. Conventional Calculator
A friendly side-by-side look at two common mortgage paths. This is a starting point, not a final answer.
Let’s compare the two paths.
FHA and Conventional loans can both help people get home. The better fit can depend on credit, down payment, mortgage insurance, monthly comfort, and your long-term plan.
Your Starting Numbers
Home price
$
Down payment
$
%
FHA often starts at 3.5%. Some Conventional options may start at 3% for eligible first-time buyers.
Loan term
yr
Estimated FHA rate
%
Start with an estimate here. Rates change daily and vary based on credit, loan type, occupancy, and overall strategy.
Estimated Conventional rate
%
Start with an estimate here. Rates change daily and vary based on credit, loan type, occupancy, and overall strategy.
Taxes, Insurance, and Monthly Costs
Property tax, annual
$
Home insurance, annual
$
HOA, monthly
$
Mortgage Insurance Assumptions
FHA upfront MIP
%
FHA annual MIP
%
Conventional PMI estimate
%
Your Side-by-Side Payment Map
FHA Loan
Base loan amount-
Financed upfront MIP-
Total FHA loan amount-
Principal and interest-
Monthly MIP-
Estimated monthly payment-
Conventional Loan
Loan amount-
Principal and interest-
Monthly PMI-
PMI note-
Estimated monthly payment-
Friendly reminder
Run your numbers above to see how these two options compare.
What this tool can and cannot tell you
This calculator can help you compare estimated monthly payments. It cannot tell the whole story. Credit score, income, assets, property type, loan limits, debt-to-income ratio, mortgage insurance rules, and current guidelines all matter.
Want help reading the results?
We can look at your goals, compare FHA and Conventional side-by-side, and talk through which path may fit your situation.