FHA Mortgage Calculator

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.

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.

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.