FHA Refinance Calculator
Calculate your potential savings with an FHA refinance. Estimate monthly payments, closing costs, and break-even points for your mortgage refinancing.
Step 1: Current Loan Details
FHA Refinance Basics
FHA refinancing allows homeowners to refinance their existing FHA loan with streamlined paperwork, often requiring less documentation than conventional refinancing.
Step 2: New Loan Details
About FHA MIP
FHA loans require Mortgage Insurance Premium (MIP) both upfront and annually. The annual MIP is based on your loan amount, term, and loan-to-value ratio.
FHA Refinance Calculation Results
Monthly Savings
Payment Comparison
Payment Calculation
FHA monthly payments include principal, interest, mortgage insurance (MIP), property taxes, and homeowners insurance. Streamline refinances may offer reduced documentation requirements.
Cost & Savings Breakdown
Refinance Calculation Formula
Monthly Savings = (Current Payment – New Payment) × 12 × Loan Term
Calculate your total savings by comparing current vs new monthly payments over the loan term. Subtract closing costs to determine net savings and calculate the break-even point.
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