This paper is concerned with real-time simulation and synthesis of finite difference models of musical instruments implemented on Field Programmable Gate Array (FPGA) hardware. The methodology is exemplified at a whole geometry model of a North American five-string banjo. This article shows the feasibility of the presented methodology for physical modeling problems in musical acoustics as well as engineering acoustics. Three examples of application show how the models can be used by musicians in a live-music setting, by researchers in instrument acoustics, or by instrument makers guiding them in design decisions.