FHA Loan Calculator

Calculate FHA loan payments including upfront MIP and annual mortgage insurance premium.

Before you calculate

Does not verify FHA eligibility, county loan limits or special premium exceptions. Confirm the financed upfront premium and ongoing MIP with your lender.

Home Price

Down Payment

Minimum down payment depends on eligibility; verify with your lender.

Interest Rate

Loan Term

Annual MIP Rate

Enter the annual premium quoted by your lender. The default is an example, not automatic eligibility pricing.

Total Monthly Payment

$2,043.24

Down Payment	$10,500
Base Loan Amount	$289,500
Upfront MIP (1.75%)	$5,066
Total Loan w/ Upfront MIP	$294,566
Monthly P&I	$1,910.55
Monthly MIP	$132.69
LTV	96.50%
MIP Duration	Life of loan (if < 10% down)
Estimated Illustrative MIP Cost	$52,834

FHA monthly payment includes P&I of $1,910.55 plus MIP of $132.69. Upfront MIP of $5,066 is rolled into the loan balance.

FHA Loan Mortgage Insurance

FHA loans require two types of Mortgage Insurance Premium (MIP): an upfront MIP of 1.75% of the base loan amount, and an annual MIP charged monthly. Annual MIP rates range from 0.50% to 0.85% depending on loan term, LTV, and loan size. Unlike conventional PMI, FHA MIP stays for the life of the loan if down payment is under 10%.

Upfront MIP = Loan × 1.75% | Monthly MIP = (Loan × Annual MIP%) / 12 | Total Loan = Base Loan + Upfront MIP

Example Scenarios

First-Time Buyer, 3.5% Down

A $300,000 home with 3.5% down ($10,500) requires $289,500 base loan + $5,066 upfront MIP = $294,566 total loan. Monthly MIP at 0.85% adds ~$205/mo that persists for 30 years unless you refinance to conventional.

10% Down to Limit MIP Duration

Putting exactly 10% down on an FHA loan means MIP cancels after 11 years, saving thousands over the life of the loan. If you can swing 10%, it's often worth the upfront savings vs. a lower down payment.

Methodology & Assumptions

Uses the annual MIP rate you enter and finances an illustrative 1.75% upfront premium. Monthly MIP is estimated on the original base loan, so total MIP is an approximation that does not decline with the balance. No county loan-limit or eligibility check is performed.

Sources & calculation notes

Maintained by MoneyCalc. Results are estimates based on the inputs and assumptions shown, not personalized financial advice or a lender quote. Default rates are examples unless a specific tax year or official table is identified.

References explain the underlying concepts or rules. They do not endorse or independently certify this implementation.

Calculations run in your browser. Some tools retain settings on this device. Displayed rounding can produce small differences from a statement or contract.

Our calculation methodology About MoneyCalc Report a calculation issue