Estimate your monthly payment including principal, interest, taxes & insurance
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Total Monthly
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Principal & Interest
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Total Cost
Monthly Payment Breakdown
Principal & Interest$0
Property Tax$0
Home Insurance$0
HOA$0
PMI$0
Year
Beginning Balance
Principal Paid
Interest Paid
Ending Balance
Key Takeaways
FHA loans require only 3.5% down with a 580+ credit score; 10% down if score is 500-579
FHA MIP: 1.75% upfront + 0.55%/year ongoing – unlike PMI, FHA MIP lasts the full loan term (if less than 10% down)
FHA loan limit 2026: $524,225 in most areas; up to $1,209,750 in high-cost counties
FHA allows debt-to-income ratios up to 57% in some cases – more flexible than conventional
FHA loans are assumable – future buyers can take over your lower rate, a valuable selling point
⚡ Key Takeaways – FHA Loan Calculator
FHA loans require as little as 3.5% down with a 580+ credit score
FHA charges two MIP fees: 1.75% upfront + 0.55% annual for most 30-year loans
Unlike conventional PMI, FHA annual MIP lasts the life of the loan if you put less than 10% down
2026 FHA loan limit is $524,225 in most counties; up to $1,209,750 in high-cost areas
FHA loans are assumable – a buyer can take over your rate, a major selling advantage
FHA Loan Calculator
Calculate your FHA loan monthly payment including MIP (Mortgage Insurance Premium), principal, interest, taxes, and insurance. Our FHA calculator includes the full MIP breakdown so you know your true monthly cost before you apply.
FHA Loan Payment Calculator
30 years15 years20 years
Your FHA Monthly Payment Breakdown
Principal & Interest
$0
Annual MIP (monthly)
$0
Taxes & Insurance
$0
Total Monthly Payment
$0
Upfront MIP at Closing
$0
(1.75% of loan amount – can be rolled into the loan)
function calcFHA(){
var price=parseFloat(document.getElementById(‘fha-home-price’).value)||0;
var downPct=parseFloat(document.getElementById(‘fha-down-pct’).value)||3.5;
var rate=parseFloat(document.getElementById(‘fha-rate’).value)||6.75;
var term=parseInt(document.getElementById(‘fha-term’).value)||30;
var taxes=parseFloat(document.getElementById(‘fha-taxes’).value)||0;
var ins=parseFloat(document.getElementById(‘fha-insurance’).value)||0;
var loanAmt=price*(1-downPct/100);
var upfrontMIP=loanAmt*0.0175;
var annMIPRate=(term===15)?(downPct>=10?0.0025:0.005):(downPct>=10?0.005:0.0055);
var monthlyMIP=(loanAmt*annMIPRate)/12;
var mr=(rate/100)/12,n=term*12;
var pi=loanAmt*(mr*Math.pow(1+mr,n))/(Math.pow(1+mr,n)-1);
var ti=(taxes+ins)/12;
var total=pi+monthlyMIP+ti;
var fmt=function(v){return ‘$’+v.toFixed(0).replace(/B(?=(d{3})+(?!d))/g,’,’);};
document.getElementById(‘fha-pi’).textContent=fmt(pi);
document.getElementById(‘fha-mip-monthly’).textContent=fmt(monthlyMIP);
document.getElementById(‘fha-ti’).textContent=fmt(ti);
document.getElementById(‘fha-total’).textContent=fmt(total);
document.getElementById(‘fha-upfront-mip’).textContent=fmt(upfrontMIP);
document.getElementById(‘fha-results’).style.display=’block’;
}
FHA MIP Rates by Loan Term & Down Payment
Loan Term
Down Payment
Annual MIP Rate
Duration
30 years
Less than 10%
0.55%
Life of loan
30 years
10% or more
0.50%
11 years
15 years
Less than 10%
0.50%
Life of loan
15 years
10% or more
0.25%
11 years
Frequently Asked Questions – FHA Loan Calculator
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. It’s designed to help lower-income and first-time buyers qualify with lower credit score requirements and smaller down payments than conventional loans.
What is the minimum down payment for an FHA loan?
3.5% with a credit score of 580 or higher. Borrowers with scores between 500–579 must put down at least 10%.
What is FHA MIP and how much does it cost?
FHA MIP has two parts: an upfront premium of 1.75% of the loan amount, and an annual premium of 0.55% for most 30-year loans with less than 10% down, paid monthly. On a $280,000 loan, upfront MIP is $4,900 and monthly MIP is about $128.
Can FHA MIP be removed?
For loans with less than 10% down originated after June 2013, FHA MIP lasts the life of the loan. The only way to remove it is to refinance into a conventional loan once you have at least 20% equity. With 10%+ down, MIP cancels after 11 years.
What credit score do I need for an FHA loan?
Minimum 580 for 3.5% down. Scores of 500–579 require 10% down. Many lenders set their own minimum at 620+ for streamlined approval.
What are the FHA loan limits for 2026?
$524,225 for a single-family home in most US counties. In high-cost areas like California, New York, and Hawaii, limits reach up to $1,209,750.
FHA vs. conventional loan – which is better?
FHA is better for credit scores below 680 or limited down payment. Conventional is better for 700+ scores with 20% down – it avoids both upfront MIP and lifetime MIP, and conventional PMI can be cancelled at 20% equity.
Can I use an FHA loan to buy any type of property?
FHA loans work for single-family homes, 2–4 unit properties (if you live in one), FHA-approved condos, and manufactured homes. Not allowed for investment properties or vacation homes.
How do I apply for an FHA loan?
FHA loans are available through FHA-approved lenders – most banks, credit unions, and mortgage companies qualify. Get pre-approved by at least 3 lenders to compare rates and fees before committing.
Can the FHA upfront MIP be rolled into the loan?
Yes. The 1.75% upfront MIP can be financed into your loan amount instead of paid at closing. This increases your loan balance and monthly payment slightly but reduces the cash needed at closing.
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Also try our HELOC Calculator – calculate draw period and repayment period payments with payment shock warning.
Comparing government loans? Also try the VA Loan Calculator (0% down for veterans) and USDA Loan Calculator (0% down for rural buyers). All three are the main zero-or-low-down loan options for US homebuyers.
This FHA loan calculator automatically includes FHA’s two required mortgage insurance premiums: a 1.75% upfront MIP (added to your loan balance) and an annual MIP of 0.55% (billed monthly). These fees are why an FHA loan calculator gives a higher monthly payment than a conventional calculator at the same loan amount. Enter your home price, down payment (minimum 3.5% for FHA), rate, and term to see your complete FHA payment including principal, interest, and both MIP charges.
FHA Loan Requirements in 2026
Before using an FHA loan calculator, confirm you meet FHA’s minimum requirements: a credit score of 580+ for 3.5% down, or 500–579 for 10% down. FHA loans are insured by the Federal Housing Administration and available through approved lenders nationwide. FHA loan limits for 2026 vary by county – use the FHA limit lookup on HUD’s site after estimating your payment here. Our FHA loan calculator works for any loan amount up to FHA’s limit for your area.
Frequently Asked Questions – FHA Loan Calculator
How much is FHA mortgage insurance?
FHA requires 1.75% upfront MIP plus 0.55% annual MIP on most 30-year loans. This FHA loan calculator adds the upfront fee to your financed amount and includes the annual fee in your monthly payment, giving you the true cost of FHA financing versus conventional loans with PMI.
Can I remove FHA mortgage insurance?
Unlike PMI on conventional loans, FHA MIP cannot be cancelled if your down payment was under 10% – it lasts the life of the loan. Use this FHA loan calculator to compare FHA vs conventional costs over time; once you have 20% equity, refinancing to a conventional loan eliminates MIP entirely.
Is FHA better than conventional for first-time buyers?
FHA offers lower credit score requirements and more flexible debt-to-income ratios, making it easier to qualify. Use our FHA loan calculator alongside our standard mortgage calculator to compare true costs. For many buyers with 580–679 credit, FHA’s rate advantage outweighs the MIP cost. See all tools at our Mortgage Calculator Hub.
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