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Finance & LoansGenerated accuracy model review: 2026-05-06

FHA Loan accuracy and testing

This page documents how Calwarden builds trust for this calculator: source notes, regression-style default tests, limitations, assumptions, unit handling, rounding, and visible change history.

Formula source

  • 1. **Base Loan** = Price - Down Payment. 2. **Upfront MIP** = Base Loan * 1.75%. This is added to the loan balance. 3. **Total Loan** = Base Loan + Upfront MIP. 4. **Monthly Payment** = P&I on Total Loan + (Base Loan * Annual MIP Rate / 12).

Test cases

Default input regression check

Generated from the checked-in default inputs and calculate function.

Inputs

  • Home Price: $250,000
  • Down Payment: 3.5%
  • Interest Rate: 6%
  • Loan Term: 30 Years
  • Annual MIP Rate: 0.55%

Expected outputs

  • Total Monthly: $1,582.30
  • Principal & Interest: $1,471.73
  • Monthly MIP: $110.57
  • Upfront MIP (Rolled In): $4,221.88

Known limitations

  • MIP rates can vary based on loan term and amount. This calculator uses standard 30-year fixed rates.

Assumptions

  • Inputs are interpreted exactly as entered in the calculator form.
  • The calculation runs locally in the browser using the current checked-in calculator definition.

Unit handling

  • Home Price accepts values in $.
  • Down Payment accepts values in %.
  • Interest Rate accepts values in %.
  • Loan Term accepts values in Years.
  • Annual MIP Rate accepts values in %.
  • Total Monthly is displayed as currency.
  • Principal & Interest is displayed as currency.
  • Monthly MIP is displayed as currency.
  • Upfront MIP (Rolled In) is displayed as currency.

Rounding rules

  • Number displays use up to 2 decimal places in the calculator UI.
  • Currency outputs are displayed with standard US dollar formatting.

Version history

1.0.0 - 2026-05-06

Generated accuracy and testing page from the current fha-loan-calculator calculator definition.

Change log

2026-05-06

Published default regression test documentation and metadata fallbacks for FHA Loan.

Calculator transparency

Accuracy pages are generated from checked-in calculator definitions and can be upgraded with curated review metadata over time.

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