FHA 203(k) Maximum Mortgage Estimator
Calculate your maximum allowable FHA 203(k) mortgage using the current HUD calculation structure for Standard and Limited programs.
FHA 203(k) Maximum Mortgage Estimator
FHA Loan Limit
Enter the FHA loan limit for your county and unit count. Actual limits vary by county and unit count.
Default shown ($541,287) is the illustrative 2026 one-unit low-cost-area floor only.
Look up your county limit at HUD.gov →Purchase Value
Contract purchase price of the property.
Seller concessions or credits that reduce the effective purchase price. Enter 0 if none.
Current appraised value before renovations, if an as-is appraisal was performed. Leave 0 if not applicable.
Appraised value of the property after all renovations are complete.
Total eligible rehabilitation costs (contractor bids).
Rehabilitation Cost Add-Ons (Step 1E)
Calculated on construction/repair costs. HUD maximum is 20%.
Required for Standard 203(k). Tiered by repair cost.
Standard only. Included in Step 1E.
Fees for draw inspections during construction.
Title update fees required during the draw process.
Building and inspection permits.
Standard only. Included in Step 1E.
Mortgage Payment Reserves
Standard only. Maximum 12 months. Included in Step 1E.
Financeable Mortgage Fees (Step 1D)
Maximum eligible: $1,133 (greater of $350 or 1.5% × Steps 1A+1B+1C). Enter the actual amount being financed.
Enter the discount point percentage to calculate the maximum eligible financeable discount points.
Maximum eligible: $0 (0% × Steps 1A+1B+1C). Enter the actual amount being financed.
Loan Terms (for payment estimate)
Step 1E — Total Rehabilitation Cost
Step 2 — Purchase Value Basis
Step 3 — Maximum Mortgage
Binding: Purchase cost basis × 96.5% LTV
Loan Summary
Annual MIP
Rate per HUD ML 2023-05 forward mortgage MIP matrix. Monthly MIP calculated on the average outstanding balance for the first annual MIP period.
Estimated Initial Monthly FHA Payment
Calculated on Total FHA Loan Including Financed UFMIP ($246,012)
FHA annual mortgage insurance is calculated on the applicable outstanding mortgage balance and generally declines as the mortgage amortizes.
This estimate excludes property taxes, homeowners insurance, flood insurance (if applicable), and HOA/condo dues (if applicable). It does not represent the borrower's complete housing payment.
This estimator uses HUD Handbook 4000.1 formulas and is for educational purposes only. Actual loan amounts are determined by your lender and FHA-approved appraiser. County limits, program eligibility, and fee structures may vary.
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Send Me the Deal →Frequently Asked Questions
How is the FHA 203(k) maximum mortgage calculated for a purchase?
For a purchase, HUD calculates the Purchase Cost Basis (Adjusted As-Is Value + total rehabilitation costs), then compares it to the AIV Limit (110% of after-improved value, or 100% for condos). The lesser of those two becomes the Value Base. That Value Base is multiplied by 96.5% LTV. The final base mortgage is the lesser of that LTV result or the applicable FHA loan limit for the county and unit count.
How is the maximum mortgage calculated for a refinance?
For a refinance, HUD calculates three limits: (1) Refinance Debt Basis = existing debt + total rehab + fees associated with the new loan; (2) the LTV-adjusted value = lesser of (as-is value + rehab) or AIV Limit, multiplied by 97.75%; and (3) the applicable FHA loan limit. The base mortgage is the lowest of all three.
What is the $75,000 cap on the Limited 203(k)?
The $75,000 cap applies to the ENTIRE total rehabilitation cost — including contingency, consultant fees, permits, and inspection fees — not just the raw contractor bid. If your total Step 1E exceeds $75,000, the scenario does not qualify for the Limited program and you must use the Standard 203(k).
Why does a condominium use 100% of AIV instead of 110%?
HUD applies a 100% of after-improved value cap to condominiums in the AIV limit test, rather than the 110% used for non-condo properties. This reflects the additional risk and resale constraints associated with condo units.
Is a HUD consultant required for the Limited 203(k)?
A HUD-approved 203(k) consultant is required for all Standard 203(k) loans. The Limited program does not require a consultant, but a consultant fee may be included if one is voluntarily used.
What FHA loan limit should I enter?
Enter the applicable FHA loan limit for your specific county and unit count. The default shown ($541,287) is the 2026 national one-unit FHA floor for low-cost areas only — most counties have different limits. Look up your county limit at hud.gov.
Educational disclaimer: All calculators on this page are provided for informational and educational purposes only. Results are estimates based on the inputs you provide and standard financial formulas. They do not constitute a loan commitment, pre-approval, or financial advice. Actual loan terms, rates, fees, and eligibility depend on your specific situation, lender guidelines, and market conditions at the time of application. Consult a licensed mortgage professional before making any financial decisions.