Introduction
This FHA loan calculator shows what your monthly house payment would be with an FHA mortgage. FHA loans are backed by the government, so you can buy a home with as little as 3.5% down.7
Type in the home price, your down payment, the loan term, and the interest rate. The calculator does the rest. You will see your monthly principal and interest, your FHA mortgage insurance premium (MIP), property taxes, home insurance, and HOA fees all added up into one number.
FHA loans have two kinds of mortgage insurance. The upfront MIP is a one-time fee of 1.75% that is usually added to your loan.2 The annual MIP is a smaller fee split into 12 parts and paid each month. This tool figures both for you and shows when your monthly MIP can stop.
You also get a full amortization schedule, a payment pie chart, an FHA vs. conventional loan comparison, and a step-by-step look at the math. Add extra payments to see how much interest you can save and how fast you can pay off your home.
How to use our FHA Loan Calculator
Enter your home price, down payment, loan term, interest rate, and FHA mortgage insurance details. The calculator shows your total monthly FHA payment, principal and interest, monthly MIP, upfront MIP, total interest, APR, and a full amortization schedule.
Home Price: Type the price of the home you want to buy, or drag the slider. The range is $50,000 to $2,000,000.
Down Payment: Pick percent or dollars, then enter how much cash you will put down. FHA loans need at least 3.5% down.7
Loan Term: Choose 15, 20, or 30 years. This also sets the default annual MIP rate for you.
Interest Rate: Enter your mortgage rate. The tool also shows how much a 0.25% rate jump would add each month.
Upfront FHA MIP Rate: This one-time fee is 1.75% for most FHA loans.2 It gets added to your loan, not paid monthly.
Annual FHA MIP Rate: This is the yearly FHA insurance rate. It is billed monthly on your base loan amount.
Annual MIP Duration: Choose how long you pay MIP: the full term, 11 years, until 78% LTV, or none.
Loan Start Date: Pick the month and year of your first payment. This sets your payoff date and schedule dates.
Optional Costs: Turn this on to add property taxes, homeowners insurance, HOA fees, and other yearly costs. Enter taxes and insurance as a percent or a dollar amount per year.
Annual Cost Increase Rates: Under More Options, enter how fast your taxes, insurance, HOA, or other costs go up each year.
Extra Payments: Add extra monthly, yearly, or one-time payments and pick when they start. These pay your loan off faster and cut interest.
Biweekly Payment Results: Turn this switch on to compare paying every two weeks against paying once a month.
Amortization View: Switch between monthly and annual views to see each payment, principal, interest, MIP, and your balance.
What Is an FHA Loan?
An FHA loan is a home loan backed by the Federal Housing Administration. The government does not lend you the money. It promises to pay the lender back if you stop paying. That promise lowers the lender's risk, so banks can say yes to buyers with smaller savings and lower credit scores.
FHA loans are popular with first-time home buyers. You can put down as little as 3.5% of the home price.7 Borrowers with a credit score of 580 or higher qualify for maximum financing; with a score between 500 and 579, FHA limits the loan to 90% of the home's value.4
FHA Mortgage Insurance (MIP)
In trade for the low down payment, every FHA loan carries mortgage insurance premiums. There are two kinds, and both matter to your budget:
- Upfront MIP: A one-time fee, usually 1.75% of the base loan.2 Most buyers add it to the loan instead of paying cash at closing. That means you borrow a little more than the home costs.
- Annual MIP: A yearly fee split into 12 parts and added to each monthly payment. For loans longer than 15 years the rate is 50 or 55 basis points a year depending on your down payment; for terms of 15 years or less it is 15 or 40 basis points.2 It is charged on the base loan amount.
How Long You Pay Annual MIP
How long the monthly MIP sticks around depends on your down payment:
- Less than 10% down: MIP stays for the full life of the loan.
- 10% or more down: MIP drops off after 11 years.
- Older loans: Some end MIP once the balance falls to 78% of the original home value.
FHA sets these terms by loan-to-value: 11 years when the LTV is 90 percent or less, otherwise the full mortgage term.3 Before 2013, annual MIP ended once the balance reached 78 percent of the original value.3
The only way to remove lifetime MIP is to refinance into a conventional loan once you have enough equity.
What Makes Up Your Monthly Payment
Your real monthly cost is more than just the loan. A full FHA payment includes:
- Principal – the part that pays down what you owe
- Interest – the cost of borrowing
- Monthly MIP – FHA mortgage insurance
- Property taxes – often 0.5% to 2% of home value per year
- Homeowners insurance – usually 0.25% to 1% per year
- HOA dues and other costs – if your home has them
That bundle is what lenders call PITI.
FHA Loan Limits
FHA sets a top loan size for each county. For 2026, the floor is $541,287 for a one-unit home, and the high-cost ceiling is $1,249,125.1 If your loan is bigger than your county limit, FHA will not insure it, and you will need a conventional mortgage or a jumbo loan instead.
FHA vs. Conventional Loans
Conventional loans charge private mortgage insurance (PMI) when you put down less than 20%.8 PMI usually costs around 0.5% to 1.5% a year. You can ask to cancel it once your balance falls to 80% of the home's original value, and it ends automatically at 78%.5 FHA charges an upfront fee plus insurance that may never cancel.
FHA often wins if your credit score is lower or your savings are thin, because the rate and approval odds are better. Conventional often wins if your credit is strong and you can put down 5% or more, because you can drop the insurance later. Comparing both side by side is the smart move before you pick.
Ways to Lower Your FHA Cost
- Put down 10% if you can, so MIP ends after 11 years.
- Raise your credit score before you apply to get a better interest rate. Paying down cards helps.
- Make extra principal payments to shrink the balance and cut total interest.
- Refinance later to a conventional loan once you have 20% equity and drop MIP for good.
- Shop several lenders. MIP rates are set by FHA, but interest rates and closing fees are not.
- Recast instead of refinancing after a big lump-sum payment.