The FHA mortgage claculator is a free online mortage calculator that can be used to determine the loan financing and mortgage payment options that are best suited for your needs. In order to use the FHA mortgage calculator, users must enter the desired loan amount, loan term, and the current FHA mortgage interest rate. The results produced by the FHA mortgage calculator include the monthly mortagge paymnet and the total costs of the loan over the full loan term. These loan results can be used to determine how much money may be financed based on several mortgage loan approval factors including income, total mortgage payments and total debt payments. The FHA mortgage calculator will display the results along with an optional mortgage payment schedule.