FHA Loan Calculator

Estimate your monthly FHA mortgage payment, including upfront and annual mortgage insurance (MIP), property tax, homeowners insurance and HOA dues.

Estimated monthly payment
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Principal & interest–
Monthly MIP–
Tax, insurance & HOA–
Loan amount–

How FHA mortgage insurance is calculated

  • Upfront MIP: 1.75% of the base loan amount, paid at closing or added to the loan.
  • Annual MIP: a yearly percentage of the loan balance, divided into 12 monthly payments.
Term over 15 yearsLoan ≤ $726,200Loan > $726,200How long
Under 5% down0.55%0.75%Life of loan
5% to under 10% down0.50%0.70%Life of loan
10% or more down0.50%0.70%11 years

Loans of 15 years or less have lower annual rates, from 0.15% to 0.65%. The calculator picks the right rate for your inputs. The monthly MIP shown is based on the starting balance, so it falls slightly as you pay the loan down.

Example

A $350,000 home with 3.5% down gives a base loan of $337,750. The upfront MIP is $5,911, making a total loan of $343,661. At 6.5% for 30 years, principal and interest is about $2,172, plus about $155 a month in annual MIP, before taxes and insurance.

FHA basics

  • Minimum credit score of 580 for 3.5% down (500 with 10% down).
  • The home must be your primary residence and pass an FHA appraisal.
  • Debt-to-income ratios up to about 43%, sometimes higher with strong factors.

Check what you can afford first with the home affordability calculator, or compare a conventional loan with the mortgage calculator.

Last reviewed October 2026.

Frequently asked questions

What is the minimum down payment for an FHA loan?

FHA loans allow 3.5% down for borrowers with a credit score of 580 or higher, and 10% down for scores from 500 to 579. Lenders can set stricter requirements of their own.

What is FHA mortgage insurance (MIP)?

FHA loans charge two kinds of mortgage insurance: an upfront premium of 1.75% of the base loan, usually added to the loan, and an annual premium paid monthly. For most 30-year loans under $726,200 with less than 5% down, the annual rate is 0.55%.

How long do I pay FHA mortgage insurance?

With at least 10% down, annual MIP lasts 11 years. With less than 10% down, it lasts for the life of the loan, unless you refinance into a conventional loan once you have enough equity.

Are there FHA loan limits?

Yes. FHA sets maximum loan amounts by county each year, higher in expensive areas. Check the HUD FHA loan limit lookup for your county before you shop.

Is FHA cheaper than a conventional loan?

It depends. FHA can be easier to qualify for with a lower credit score or small down payment. With good credit and 5% or more down, a conventional loan with PMI that can be removed later may cost less over time. Compare Loan Estimates for both.