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FHA Mortgage Calculator

Written by Bennett Leckrone
Bennett Leckrone

Written by
Bennett Leckrone
Writer / Reviewer / Expert

Bennett Leckrone is the editorial manager and an analyst for Lower. He specializes in making complicated mortgage topics accessible for consumers. That includes both in-depth product guides and in-depth analysis on what economic moves mean for homebuyers and refinancers. He was previously a business reporter with a focus on higher education and fintech at BestColleges. In that role, he reported on the development of fintech and AI curriculum, as well as the rapidly changing nature of finance education. He also wrote guides to help business students navigate AI and online education. He also reported on state politics at Maryland Matters, with a focus on how policy affected people and businesses. He holds a bachelor of science in journalism degree from Ohio University.
Our Editorial Standards

Updated: April 17 2026 • 6 min read

FHA Loan
Calculator

Model principal and interest, FHA mortgage insurance, property taxes, and upfront MIP.

Est. Monthly FHA Payment

$0

What’s driving this estimateLive from your current assumptions
Use the sliders for quick comparisons or tap the blue value pills to type exact numbers.
Upfront MIP

Illustrative FHA estimate only. Uses a 1.75% upfront MIP and 0.55% annual MIP assumption. Actual FHA MIP rules depend on loan amount, term, LTV, and case-specific factors. Not a loan offer.

How this calculator works

Move the sliders to test scenarios, or tap any blue value pill to type an exact number. The headline result and supporting detail pills update live as you change inputs so you can compare options without resetting your work.

Methodology: Base loan = home price × (1 − down payment %). Upfront MIP = 1.75% of the base loan, optionally rolled into the loan. Principal & interest are amortized over 30 years using the standard fixed-rate formula M = P · r(1+r)n / ((1+r)n−1), where r is the monthly rate and n is months. Annual MIP of 0.55% is divided by 12 and added monthly. Property taxes are estimated as home price × tax rate ÷ 12.

Worked example: Home price $400,000, 3.5% down, 6.5% rate, 1.1% taxes, UFMIP financed: base loan $386,000; UFMIP $6,755; financed loan $392,755; monthly P&I ≈ $2,482; monthly MIP ≈ $177; monthly taxes ≈ $367; total ≈ $3,026/mo.

Use these estimates to compare options and prepare questions for a lender. Final pricing, eligibility, and approval depend on a full application and lender review.

Key Takeaways

  • Our FHA loan calculator estimates your full monthly payment by combining principal and interest with FHA mortgage insurance premiums (MIP), plus optional property taxes, homeowners insurance, and HOA dues.
  • This calculator uses FHA-specific math, including MIP.
  • Monthly FHA mortgage insurance is shown as an illustration using your Base Loan and an annual MIP rate, divided by 12. Your actual MIP rate and duration depend on term, LTV, and base loan amount.
How Our FHA Loan Calculator Works

This FHA loan calculator is designed to mirror how FHA payments are commonly estimated at the planning stage:

  • Base loan: Home price minus down payment

  • Upfront MIP (UFMIP): Base loan times UFMIP rate. It also includes a financed loan amount if you roll UFMIP into your loan, which is common in FHA loans.

  • Monthly principal and interest: Standard 30-year amortization on the financed loan amount

  • Monthly MIP (illustrative): (Annual MIP rate × Base loan) ÷ 12

  • Monthly property taxes (if provided): Home price × tax rate ÷ 12

  • Monthly homeowners insurance (if provided): Annual insurance ÷ 12

  • Monthly HOA dues (if provided): HOA amount as entered

HUD’s current guidance shows UFMIP is typically 1.75% of the Base Loan Amount for most FHA Title II forward mortgages.

This calculator provides illustrative estimates, but MIP, rates, and other costs will vary based on your unique financial situation.

Key Inputs For An Accurate Estimate

Use the most specific inputs you can, since small changes can move your payment meaningfully.

  • The price of the home you’re buying.

  • Down payment amount, commonly 3.5% for FHA loans.

  • Your interest rate. For our current FHA interest rates, click here.

  • Annual MIP rate. The calculator uses your rate to illustrate monthly MIP, but you’ll need to consult with an expert loan officer to get a personalized MIP.

You can also optionally input the following to get a better idea of your final payment:

  • Property tax rate. If you do not know your property tax rate yet, start with a local estimate and update it once you have a specific property.

  • Annual homeowners insurance. Prices vary but are about ​​$2,377 annually on average, per the National Association of Realtors.

  • Monthly HOA dues.

What’s Included In Your FHA Calculator Results

Most FHA payment estimates are built around the same core buckets.

Component

What It Covers

How This Calculator Estimates It

Principal & Interest

Repayment of the financed loan amount plus interest

30-year amortization on the financed loan amount

FHA Monthly MIP

Ongoing FHA mortgage insurance

(Annual MIP rate × Base loan) ÷ 12 (illustrative)

Property Taxes (optional)

Local property taxes

Home price × tax rate ÷ 12

Homeowners Insurance (optional)

Hazard insurance premium

Annual premium ÷ 12

HOA Dues (optional)

Condo or community dues

Monthly amount as entered

Upfront MIP (UFMIP)

One-time FHA insurance premium

Base loan × UFMIP rate, optionally financed

Understanding FHA Mortgage Insurance Premiums

FHA mortgage insurance is typically made up of two parts:

  • Upfront MIP (UFMIP): A one-time premium that is commonly calculated as 1.75% of the Base Loan Amount for most FHA Title II forward mortgages. It can be paid at closing or financed into the loan amount.

  • Annual MIP: An annual rate expressed in basis points that is typically paid monthly. The rate and how long you pay it can depend on factors like loan term, LTV, and whether the base loan amount is above HUD’s thresholds.

This calculator’s monthly MIP is an estimate meant to illustrate the cost using your Base Loan. Final MIP details come from program rules tied to your specific scenario and case number.

How To Use The Calculator To Compare Scenarios

To get more than one “snapshot,” run a few quick variations.

  • Test multiple down payments: Compare 3.5%, 5%, and 10% to see how Base Loan, financed UFMIP, and monthly MIP change.

  • Run a rate range: Try a conservative rate, a moderate rate, and a higher rate to see how sensitive your payment is.

  • Toggle property taxes and insurance: If you leave them blank, you may underestimate the real monthly cost in many areas.

  • Compare financed vs not financed UFMIP: Financing increases the balance used for principal and interest, which increases the monthly payment.

FHA Loan Limits And Why They Matter

FHA loan limits cap the maximum FHA-insured mortgage amount by county and property size. HUD announced that for case numbers assigned on or after January 1, 2026, the one-unit “floor” is $541,287 and the one-unit “ceiling” is $1,249,125 in high-cost areas.

If your Base Loan is above your county’s limit, the loan may not be eligible for FHA insurance, even if the payment is affordable.

You can use our lookup tool based on HUD data to find your local limit. Make sure to double-check any estimate against official HUD sources.

Find your FHA loan limit

Select your state and county to see FHA forward loan limits for 1–4 unit properties.

Limitations Of FHA Loan Payment Estimates

This calculator is designed for planning and comparison, not underwriting. Results depend on the inputs you provide and do not include every possible fee or escrow detail. MIP in particular is sensitive to your exact scenario, including term, LTV, and base loan amount thresholds.n Property taxes and insurance can vary widely by property type and location, and can change over time.

Frequently Asked Questions

What Is The Minimum Down Payment For An FHA Loan?

Many FHA purchase loans allow a 3.5% down payment depending on borrower qualification, but the minimum down payment can vary by credit profile and program rules. Confirm your scenario with a loan expert and review current FHA guidance.

Does This Calculator Include FHA Upfront And Monthly Mortgage Insurance?

Yes. It calculates UFMIP from the Base Loan and lets you estimate monthly MIP using an annual MIP rate, divided by 12. HUD guidance describes UFMIP and annual MIP structures for FHA Title II forward mortgages.

How Is Monthly MIP Calculated In This Calculator?

Monthly MIP is shown as an illustration using this formula: (Annual MIP rate × Base loan) ÷ 12. This approach is meant to help you compare scenarios consistently while shopping.

Can FHA Mortgage Insurance Be Removed?

FHA MIP rules depend on your case number, down payment, and loan terms. Many borrowers remove FHA mortgage insurance by refinancing into a conventional loan later, if they qualify and the numbers work.

Can I Cancel Mortgage Insurance On A Conventional Loan?

Conventional PMI rules differ from FHA rules. Under the Homeowners Protection Act framework, borrowers generally have the right to request PMI cancellation when the principal balance is scheduled to reach 80% of the home’s original value, assuming requirements are met.

Get a personalized FHA rate with no commitment.

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