Use our free “FHA Mortgage Calculator” to calculate your monthly mortgage payment which is Principal+Interest+Taxes+HOA+Mortgage Insurance. When you hear talk about First Time Homebuyer program they are generally talking about a “FHA Loan”. These are loans that are insured by the Federal Housing Administration.Loan and Mortgage for simplicity will be considered interchangeable (same thing). Presently, the maximum FHA loan limit for 2021 is $402,500 for a Single Family Home (subject to county – ask Google “FHA loan limit for your county”). The loan limit does change annually..read more