FHA Loan Calculator
FHA loans allow low down payments but add mortgage insurance — an upfront premium plus a monthly one. See your true FHA payment.
Free to use No sign-up needed Updates as you type
Default interest rate: 6.89% — Optimal Blue FHA 30-year average, Nov 5, 2026. Enter the rate from your own Loan Estimate.
How the FHA loan calculator works
An FHA loan is insured by the Federal Housing Administration, which lets lenders accept down payments as low as 3.5 percent and more forgiving credit. That insurance has two parts. A one-time upfront premium (UFMIP) is charged at closing and is almost always rolled into the loan balance rather than paid in cash.
An annual premium (MIP) is then spread across twelve installments and added to every monthly payment. This calculator builds the financed balance, layers in principal, interest, and MIP, and shows the true monthly cost rather than the bare loan figure.
Worked example: with home price of $300,000, down payment of 3.50% and interest rate of 6.89%, the FHA loan calculator shows FHA monthly payment of $2,070.73.
- Base loan amount
- $289,500
- Upfront MIP (financed)
- $5,066
- Principal & interest
- $1,938.04
- Monthly MIP
- $132.69
| Home price | FHA monthly payment |
|---|---|
| $250,000 | $1,725.61 |
| $375,000 | $2,588.41 |
| $525,000 | $3,623.78 |
| $700,000 | $4,831.71 |
The formula
Financed balance equals the base loan plus the upfront premium (base loan times the UFMIP rate). The principal-and-interest payment uses the standard amortization formula on that balance, then the monthly MIP — annual MIP rate times the average loan balance, divided by twelve — is added on top.
How every calculator here computes, what it assumes and how the defaults stay current: our methodology.
- Upfront premium is assumed financed into the loan, not paid in cash; rolling it in raises the balance you pay interest on.
- Current FHA factors are used: 1.75 percent UFMIP and an annual MIP that varies with loan term, size, and loan-to-value.
- Property taxes, homeowners insurance and HOA dues are not included here; the mortgage calculator with taxes and insurance adds them for the full monthly payment.
- On most FHA loans MIP runs for the life of the loan; the estimate does not auto-drop it after you cross an equity threshold.
- Results assume a fixed rate and on-time payments; rate buydowns, points, and seller credits are not modeled.
Reference data
Current figures behind this tool: 2026 FHA Loan Limits, FHA Mortgage Insurance (MIP) Rates 2026, Minimum Credit Score by Loan Type, Down Payment Requirements by Loan Type.
Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender or a licensed advisor.
Questions about the FHA loan calculator
Does FHA mortgage insurance ever fall off the way PMI does?
Usually not. For most FHA loans originated today with the minimum down payment, the annual MIP stays for the full term. It only cancels automatically if you put at least 10 percent down, in which case it drops after eleven years.
Many borrowers instead refinance into a conventional loan once they hold roughly 20 percent equity to shed the premium.
Can I pay the upfront FHA premium in cash instead of financing it?
Yes. The UFMIP can be paid at closing out of pocket, which keeps your loan balance and lifetime interest lower.
Most borrowers finance it because cash is tight at closing, but if you have the funds, paying it upfront avoids years of interest on that 1.75 percent. The annual MIP, by contrast, is always paid monthly and cannot be prepaid away.
Why is my FHA payment higher than a conventional quote at the same rate?
The annual MIP. A conventional loan with 20 percent down carries no mortgage insurance at all, while FHA charges MIP on nearly every loan regardless of equity.
You may also be paying interest on a slightly larger balance because the upfront premium was financed. The trade-off is FHA's lower down payment and more lenient credit requirements.
Is my information saved or shared?
No. Every calculation runs entirely in your browser. We never store, transmit or sell the numbers you enter.
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration. It allows down payments as low as 3.5% and more forgiving credit, in exchange for an upfront and an annual mortgage insurance premium (MIP).
Sources
- HUD — FHA
- HUD — Single Family Housing Policy Handbook 4000.1
- CFPB — Understand the different kinds of loans
How the figures on this site are calculated and tested: methodology · editorial policy.
Reverse Mortgage Calculator
Estimate the proceeds available to a homeowner 62 or older from a reverse mortgage.
Balloon Mortgage Calculator
Keep payments low with a long amortization, then see the lump-sum balloon due at the short term end.
Combination (Piggyback) Mortgage Calculator
Model an 80-10-10 piggyback structure to avoid PMI with a first and second mortgage.
15 vs. 30 Year Mortgage
Compare a 15-year and 30-year loan: the higher payment against the interest you save.
20 vs. 30 Year Mortgage
Weigh a 20-year mortgage higher payment against its long-term interest savings.
VA Loan Calculator
Estimate a VA loan payment: $0 down, no PMI, including the one-time funding fee.