FHA Checker

The FHA Checker analyzes a borrower’s financial profile to estimate FHA loan eligibility and affordable purchase price. It accepts inputs such as income, monthly debts, credit score, down payment, property price, and location to apply FHA front‑end and back‑end debt limits and down‑payment requirements. Conceptually, the tool computes the maximum loan amount allowed by FHA limits for the given location, then derives monthly P&I payments using a standard amortization method. It compares these payments against income and debt to determine qualification status and recommended actions. The value lies in rapid scenario testing: changing income, debt, or down payment shows how qualification and price tolerance shift. It is particularly useful for first‑time buyers, loan officers, and real estate agents who need a transparent, rule‑based view of FHA viability without entering lender workflows. Core features include input validation, DTI calculations, regional limit references, automatic down‑payment handling, and a clear qualification outcome with guidance on optimizing inputs. Use cases include pre‑qual planning, comparing multiple homes, and education for buyers about required adjustments to meet FHA criteria.