An FHA loan calculator can estimate the mortgage costs associated with an FHA purchase, including principal and interest, upfront mortgage insurance, annual mortgage insurance and property taxes.
FHA calls its mortgage insurance MIP rather than PMI. The calculator provides an estimate based on the assumptions entered, but the actual MIP rate can vary based on the loan amount, term and original loan-to-value ratio.
This calculator currently models a 30-year fixed-rate mortgage. Homeowners insurance, HOA dues, closing costs and other expenses should be added separately when evaluating your total housing budget.
FHA Loan Calculator Basics
| Input or Result |
What It Means |
| Home Price |
The purchase price used to calculate the down payment and base FHA loan amount. |
| Down Payment |
The portion of the purchase price you pay upfront. |
| Base Loan Amount |
The purchase price minus your down payment, before financed upfront MIP. |
| Interest Rate |
The rate used to calculate principal and interest over the 30-year term. |
| Upfront MIP |
A mortgage insurance premium that is generally 1.75% of the base FHA loan amount. |
| Annual MIP |
Ongoing FHA mortgage insurance generally collected through monthly payments. The applicable rate depends on the loan. |
| Property Taxes |
An estimated monthly property tax cost based on the tax-rate assumption entered. |
How to Read Your FHA Calculator Result
Start with principal and interest. This is the scheduled mortgage payment based on the financed loan balance, interest rate and 30-year repayment term.
Then account for annual FHA mortgage insurance and property taxes. These costs can make the monthly amount meaningfully higher than principal and interest alone.
Upfront MIP works differently. If you finance the upfront premium, it is added to the mortgage balance and increases the amount used to calculate principal and interest.
The current calculator does not include every possible housing expense. Homeowners insurance, flood insurance, HOA dues and other recurring costs can increase the amount you actually spend each month.
How to Calculate FHA Mortgage Insurance (MIP)
Searchers sometimes refer to FHA mortgage insurance as PMI, but FHA uses mortgage insurance premiums, or MIP. PMI and MIP work differently.
Most FHA purchase loans have both an upfront mortgage insurance premium and an annual mortgage insurance premium.
Upfront Mortgage Insurance Premium
HUD currently sets the standard upfront mortgage insurance premium at 1.75% of the base loan amount for most FHA purchase and refinance mortgages.
The basic formula is:
Base FHA loan amount × 1.75% = upfront MIP
For example, a $300,000 base FHA loan produces $5,250 in upfront MIP.
If the borrower finances the entire premium, the starting financed balance would be $305,250. Financing UFMIP reduces the amount that must be paid upfront, but it also increases the balance on which principal and interest are calculated.
Annual Mortgage Insurance Premium
Annual MIP is based on the applicable FHA MIP rate and the outstanding mortgage balance. It is generally collected through monthly installments.
A simplified first-year estimate can be calculated as:
Applicable mortgage balance × annual MIP rate ÷ 12 = estimated monthly MIP
The actual monthly amount can change as the outstanding balance declines.
FHA Monthly MIP Chart
For FHA case numbers endorsed on or after March 20, 2023, HUD currently uses the following annual MIP schedule for most forward mortgages.
| Loan Term |
Base Loan Amount |
Original LTV |
Annual MIP Rate |
Duration |
| More than 15 years |
$726,200 or less |
90% or less |
0.50% |
11 years |
| More than 15 years |
$726,200 or less |
More than 90% through 95% |
0.50% |
Mortgage term |
| More than 15 years |
$726,200 or less |
More than 95% |
0.55% |
Mortgage term |
| More than 15 years |
More than $726,200 |
90% or less |
0.70% |
11 years |
| More than 15 years |
More than $726,200 |
More than 90% through 95% |
0.70% |
Mortgage term |
| More than 15 years |
More than $726,200 |
More than 95% |
0.75% |
Mortgage term |
| 15 years or less |
$726,200 or less |
90% or less |
0.15% |
11 years |
| 15 years or less |
$726,200 or less |
More than 90% |
0.40% |
Mortgage term |
| 15 years or less |
More than $726,200 |
78% or less |
0.15% |
11 years |
| 15 years or less |
More than $726,200 |
More than 78% through 90% |
0.40% |
11 years |
| 15 years or less |
More than $726,200 |
More than 90% |
0.65% |
Mortgage term |
These rates come from HUD's current FHA mortgage insurance schedule. Some FHA programs and older refinance transactions follow different rules.
How Long Does FHA Mortgage Insurance Last?
For FHA case numbers assigned on or after June 3, 2013, annual MIP generally lasts 11 years when the original LTV is 90% or less.
When the original LTV is above 90%, annual MIP generally lasts for the mortgage term.
This means increasing the down payment from 3.5% to 10% can affect both the loan amount and the duration of annual MIP. FHA mortgage insurance removal follows different rules from conventional PMI cancellation.
Worked Example: FHA Payment With MIP and Taxes
Consider a hypothetical $400,000 home purchase using a 30-year FHA mortgage with 3.5% down, a 7% interest rate and estimated property taxes equal to 1.1% of the purchase price per year.
| Calculation |
Example |
| Home price |
$400,000 |
| 3.5% down payment |
$14,000 |
| Base FHA loan |
$386,000 |
| 1.75% upfront MIP |
$6,755 |
| Financed mortgage balance |
$392,755 |
| Principal and interest at 7% |
About $2,613 per month |
| Initial estimated annual MIP at 0.55% |
About $177 per month |
| Estimated property taxes |
About $367 per month |
| Estimated calculator total |
About $3,157 per month |
The 7% rate and 1.1% property tax rate are hypothetical assumptions. The example does not include homeowners insurance, HOA dues, flood insurance or other housing costs.
What to Enter for a More Accurate FHA Payment Estimate
Home Price
Enter the purchase price of the property. The home price affects your down payment, base FHA mortgage and mortgage insurance costs.
Down Payment
FHA generally permits maximum financing with a minimum decision credit score of at least 580, corresponding to a minimum 3.5% investment for a standard purchase.
A minimum decision credit score from 500 through 579 generally limits the loan to 90% LTV, which corresponds to at least 10% down.
Individual lenders can impose requirements beyond FHA's minimums. Understanding how an FHA loan works can help separate FHA program rules from lender requirements.
Interest Rate
The rate directly affects principal and interest. Use a rate that reflects the scenario you are evaluating and test higher and lower rates to see how the payment changes.
Property Taxes
Use property-specific tax information when possible. Two homes with the same purchase price can have substantially different monthly tax costs.
Homeowners Insurance
The current calculator does not separately model homeowners insurance. Include an insurance estimate when comparing the calculator result with your full housing budget.
HOA Dues
The current calculator does not separately model HOA or condo association dues. Add mandatory dues to the calculator result when evaluating your expected monthly housing expense.
2026 FHA Loan Limits
FHA limits the base mortgage according to property location and number of units.
For 2026, the FHA floor for a one-unit property is $541,287 and the standard high-cost ceiling is $1,249,125. Counties can have limits between those amounts, while Alaska, Hawaii, Guam and the U.S. Virgin Islands can have higher special exception limits.
The base FHA loan amount is compared with the applicable limit before financed upfront MIP is added.
You can check FHA loan limits by county when modeling a specific purchase.
How Your FHA Payment Affects Debt-to-Income Ratio
Your estimated housing payment is one component of your debt-to-income ratio, or DTI.
For example, assume an estimated FHA housing payment of $2,100 and another $600 in qualifying monthly debt. Total monthly obligations would be $2,700. With $7,500 in qualifying gross monthly income, the simplified total DTI would be 36%.
That is a planning example rather than an FHA approval threshold. Underwriting can depend on automated underwriting results, credit history, income, assets and other loan characteristics.
A mortgage affordability calculator can help connect the estimated payment with your income and existing debts.
How to Compare FHA Loan Scenarios
Compare 3.5%, 5% and 10% Down
A larger down payment reduces the base mortgage and upfront MIP amount.
It can also change the annual MIP rate and duration. On a 30-year FHA loan with a base amount of $726,200 or less, moving from an original LTV above 95% to 95% or below changes the annual MIP rate from 0.55% to 0.50%. Reaching 90% original LTV can also reduce the MIP duration to 11 years.
Test Different Interest Rates
Keep the home price and down payment constant and change the interest rate. This isolates how the rate changes principal and interest.
Add Other Housing Expenses Separately
Property taxes are included in the current calculator. Add homeowners insurance, HOA dues, flood insurance and any other recurring property costs separately when estimating your complete housing budget.
Compare Financing Upfront MIP
Financing UFMIP reduces the amount of the premium paid at closing but increases the starting mortgage balance and principal-and-interest payment.
Compare FHA and Conventional Financing
FHA and conventional mortgages use different credit, down payment and mortgage insurance structures.
Compare PMI vs. MIP along with the interest rate, upfront costs and expected time in the loan. Eligible borrowers can also use a VA vs. FHA loan calculator to compare those government-backed options.
What an FHA Loan Calculator Does Not Tell You
An FHA loan calculator is an estimator, not a mortgage approval.
The current tool does not include homeowners insurance, HOA dues, closing costs, prepaid interest or initial escrow deposits. Those costs can materially affect both the monthly housing budget and cash needed at closing.
Actual eligibility depends on the completed application, property, FHA requirements and any additional lender underwriting standards.
Bottom Line
An FHA loan calculator can help estimate principal and interest, upfront and annual MIP and property taxes under different home-price, down-payment and rate assumptions.
FHA mortgage insurance is not one flat percentage for every loan. Check the applicable MIP rate, FHA loan limit and expenses that are not included in the calculator before treating the estimate as your full monthly housing cost.
Frequently Asked Questions
How Do You Calculate PMI on an FHA Loan?
FHA uses MIP rather than PMI. Upfront MIP is generally 1.75% of the base loan amount. Annual MIP is calculated using the applicable annual rate and outstanding mortgage balance, then generally collected through monthly installments.
What Is the FHA Monthly MIP Chart?
HUD currently uses annual MIP rates ranging from 0.15% to 0.75% for most FHA forward mortgages endorsed on or after March 20, 2023, depending on loan term, base loan amount and original LTV. For a common 30-year loan of $726,200 or less with more than 95% LTV, the annual rate is 0.55%.
Does the FHA Calculator Include PMI and Taxes?
The current calculator includes an FHA annual MIP estimate and property taxes. FHA calls its mortgage insurance MIP rather than PMI. Homeowners insurance and HOA dues are not currently included in the calculator result and should be added separately.
What Is the Minimum Down Payment for an FHA Loan?
FHA generally permits a 3.5% minimum investment when the minimum decision credit score is at least 580. Scores from 500 through 579 generally limit financing to 90% LTV, corresponding to at least 10% down on a purchase. Lenders can apply stricter requirements.
Does an FHA Loan Have Upfront and Monthly Mortgage Insurance?
Most FHA purchase loans do. Upfront MIP is generally 1.75% of the base loan amount. Annual MIP is an ongoing charge generally collected through monthly mortgage payments.
How Long Do You Pay FHA Mortgage Insurance?
For FHA case numbers assigned on or after June 3, 2013, annual MIP generally lasts 11 years when original LTV is 90% or less. Above 90% original LTV, it generally lasts for the mortgage term.
What Are the FHA Loan Limits for 2026?
For a one-unit property, the 2026 FHA floor is $541,287 and the standard high-cost ceiling is $1,249,125. The exact limit depends on the property's location and number of units.
Does an FHA Calculator Tell Me if I Qualify?
No. A calculator estimates costs based on the information entered. FHA qualification also depends on income, debts, credit, assets, the property, automated or manual underwriting and lender requirements.
Is an FHA Loan Cheaper Than a Conventional Loan?
Either can have the lower cost depending on the interest rate, credit profile, down payment, mortgage insurance and how long you keep the loan. Compare the complete loan structure rather than principal and interest alone.
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