North Decatur FHA Mortgage Calculator

An FHA buyer in North Decatur, GA borrowing $524,630 (with 3.5% down on a median $543,658 home) pays an upfront mortgage insurance premium (MIP) of $9,181 — equal to 1.75% of the base loan amount. This upfront MIP is typically financed into the loan balance rather than paid at closing, increasing the total loan amount to approximately $533,811.

For a typical FHA loan in North Decatur, GA with a base loan amount of $524,630, the annual MIP rate is 0.55% — adding approximately $240/month to the required payment. This monthly MIP is separate from principal, interest, property taxes, and homeowners insurance.

Unlike conventional PMI — which automatically cancels at 80% LTV under the Homeowners Protection Act — FHA annual MIP on loans with less than 10% down does not fall off. For FHA buyers in North Decatur, GA putting 3.5% down, this means ongoing monthly MIP payments of approximately $240/month for the life of the loan. To eliminate MIP, borrowers must refinance into a conventional loan once they reach 20% equity, or put 10%+ down at origination (MIP then cancels after 11 years).

The 2025 FHA loan limit for North Decatur, GA is $718,750 for a 1-unit property. A typical buyer purchasing the median-priced home here (approximately $543,658) with 3.5% down would have a base loan amount of approximately $524,630, which falls within the local FHA limit — making FHA financing an accessible option for eligible buyers.

Beyond principal and interest, FHA buyers in North Decatur, GA with a median $543,658 home can expect approximately $4,706/yr in property taxes, $990/yr for homeowners insurance, $1,762/yr in energy utilities, and $240/mo in FHA mortgage insurance (MIP). Together, these non-P&I costs add approximately $862/month to the required payment in North Decatur, GA.