FHA Loan Calculator

Estimate an FHA mortgage payment with mortgage insurance. Free, private, and runs entirely in your browser.

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Enter values and press Calculate to see the result here.

How this is calculated

The upfront premium is added to the loan. The payment is principal and interest on that amount plus a monthly share of the annual premium.

Formula

Loan = Price × (1 − Down %) × (1 + Upfront MIP)

Payment = P&I + Base loan × Annual MIP ÷ 12

Frequently asked questions

What is the minimum FHA down payment? 3.5% for borrowers who meet credit requirements.

Does MIP ever end? It depends on the down payment and loan terms.

Worked example

A $300,000 home with 3.5% down at 6.5% over 30 years has a base loan of $289,500. Adding the 1.75% upfront premium ($5,066) gives a financed loan of about $294,566, a monthly payment of roughly $1,995 including mortgage insurance, and a monthly premium of about $133.

Common mistakes

Forgetting that the upfront premium is usually financed, which raises the loan balance.
Comparing only the interest rate; FHA insurance raises the true monthly cost.
Leaving out property taxes, homeowners insurance and any HOA dues.

Tips

Compare the result with a conventional loan, especially if you can put down 5% or more.
Ask your lender for current premium rates for your loan size and term.