FHA Loan Calculator
Calculate your FHA loan payments including mortgage insurance premiums and other FHA-specific costs
FHA Loan Calculation Results
Base Loan Amount
Total Loan Amount
Monthly Payment
Total MIP Paid
Monthly Payment Breakdown
Mortgage Insurance Premium (MIP) Details
FHA vs Conventional Loan Comparison
| Loan Type | Monthly Payment | Total MIP/PMI | Total Interest | Total Cost |
|---|---|---|---|---|
| FHA Loan | $2,587 | $18,234 | $385,456 | $747,440 |
| Conventional Loan | $2,432 | $8,120 | $362,120 | $712,320 |
FHA Loan Guidelines & Information
- Minimum Down Payment: 3.5% for credit scores of 580+
- Mortgage Insurance: Upfront MIP (1.75%) and Annual MIP (0.55%) required
- MIP Duration: 11 years if down payment ≥10%, otherwise life of loan
- Debt-to-Income Ratio: Typically 43% maximum, up to 50% with compensating factors
- Credit Requirements: Minimum 580 score for 3.5% down, 500-579 for 10% down
- Loan Limits: Vary by county, typically $420,680-$970,800 for single-family homes
Related Calculators
Calculate your FHA loan payment in seconds.
Use this FHA loan calculator to instantly estimate your monthly mortgage payment, including FHA mortgage insurance (UFMIP + annual MIP), property taxes, homeowners’ insurance, and HOA fees before you apply or talk to a lender.
👉 Enter your numbers above and calculate your FHA loan payment now.
Accurate • HUD-based formulas • Updated FHA MIP rates • No signup required
Calculate First. Decide Smartly. Apply Confidently.
Buying a home with an FHA loan isn’t just about qualifying with a low down payment. The real cost comes from monthly payments, mortgage insurance, and long-term interest—and those numbers aren’t always obvious.
This FHA mortgage calculator shows you:
- Your true monthly FHA mortgage payment
- How much FHA mortgage insurance adds to your cost
- Your total out-of-pocket cost over the loan term
- When your loan will be fully paid off
💡 Change the values above to see how small adjustments impact your payment instantly.
How to Use the FHA Loan Calculator
This calculator follows actual FHA loan rules, not rough estimates. Every input affects your final payment.
Enter Home Price
The home price is the agreed purchase price of the property.
Why it matters:
- Determines your base FHA loan amount
- Impacts upfront FHA MIP
- Must stay within the FHA loan limits for your county
Higher prices increase both your monthly payment and lifetime FHA insurance costs.
👉 Adjust the home price above to instantly recalculate.
Down Payment Percentage
FHA loans allow a minimum down payment of 3.5% for borrowers with credit scores of 580 or higher.
What changes with your down payment:
- Loan-to-value (LTV) ratio
- Annual FHA MIP rate
- How long MIP lasts (11 years vs life of the loan)
A larger down payment can significantly reduce long-term costs.
👉 Try different down payment amounts to compare payments.
Loan Term (15 or 30 Years)
You can calculate both 15-year and 30-year FHA loans.
- 30-year FHA loan → lower monthly payment, higher total interest
- 15-year FHA loan → higher payment, much lower lifetime cost
The calculator shows both the monthly impact and total cost.
Interest Rate
FHA interest rates vary by lender and market conditions.
Why this matters:
- Even a 0.25% rate difference can change your payment noticeably
- Rate shopping saves real money over time
👉 Enter different rates above to see the impact instantly.
FHA Mortgage Insurance (MIP)
FHA loans require mortgage insurance—this is where many buyers underestimate costs.
Upfront FHA MIP (UFMIP):
- Fixed at 1.75% of the loan amount
- Can be paid at closing or rolled into the loan
Annual FHA MIP:
- Paid monthly
- Based on loan amount, term, and LTV
- Often lasts the life of the loan
This calculator includes both automatically, so you don’t have to guess.
Property Taxes, Insurance & HOA
Homeownership costs go beyond the mortgage.
This calculator factors in:
- Property taxes
- Homeowners insurance
- HOA fees (if applicable)
These are usually paid through escrow, making them part of your monthly obligation.
Start Date & Extra Options
The start date affects:
- Your amortization schedule
- Your mortgage payoff date
Extra payment options show how paying a little more can:
- Reduce total interest
- Shorten your FHA loan payoff timeline
FHA Loan Calculator Results Explained
Once you calculate, your results show the full financial picture.
Monthly FHA Mortgage Payment Breakdown
Your payment is broken into:
- Principal & interest
- Property taxes
- Home insurance
- FHA annual MIP
- Other recurring costs
💡 This is your real monthly cost—not just the advertised mortgage payment.
Total Out-of-Pocket Cost Over the Loan Term
See exactly how much the loan costs over time:
- Total mortgage payments
- Total interest paid
- Total FHA mortgage insurance
- Total taxes and insurance
Many buyers only look at the monthly number—this section shows the long-term reality.
FHA Loan Summary
A quick snapshot including:
- Loan amount with upfront MIP
- Total interest paid
- Mortgage payoff date
👉 Use this to compare loan scenarios before applying.
FHA Loan Interactive Example
Suppose:
- Home Price: $250,000
- Down Payment: 5%
- Loan Term: 30 years
- Interest: 3.5%
Calculator Output:
- Loan Amount: $237,500
- Upfront MIP: $4,156
- Annual MIP: $1,900/year → $158/month
- Total Monthly Payment: $1,500 (including taxes & insurance)
Change any value above to see real-time impact.
FHA Loan Amortization Schedule
An FHA amortization schedule shows how your balance changes over time.
Yearly vs Monthly Amortization
- Early years: most of your payment goes to interest
- Later years: principal reduction accelerates
When Interest Costs Are Highest
Interest is front-loaded, which is why early extra payments can save thousands.
👉 Adjust the calculator above to see how amortization changes.
What Is an FHA Loan?
An FHA loan is a government-insured mortgage backed by the Federal Housing Administration (FHA), part of the U.S. Department of Housing and Urban Development (HUD).
FHA loans exist to:
- Expand access to homeownership
- Reduce lender risk
- Help borrowers with limited savings or lower credit scores
They are especially popular with first-time homebuyers.
FHA Mortgage Insurance Premium (MIP) Explained
Upfront MIP (UFMIP)
- Calculated as 1.75% of the loan amount
- Example: $250,000 loan → $4,375 UFMIP
- Can be financed into the loan
Annual FHA MIP Rates (2025–2026)
Annual MIP depends on:
- Loan term
- Loan amount
- Loan-to-value ratio (LTV)
Higher LTV usually means higher insurance costs.
👉 Use the calculator to see your exact MIP—no manual math needed.
When Can FHA MIP Be Removed?
- 10% or more down → MIP removed after 11 years
- Less than 10% down → MIP lasts for the life of the loan
This is why many FHA borrowers refinance later.
FHA Loan Requirements
To qualify for an FHA loan, most borrowers need:
- Credit score of 500–580+
- Down payment of 3.5%–10%
- Debt-to-income ratio around 43%
- Primary residence only
- Property meeting FHA safety standards
- Stable employment history
👉 Calculate first to see if the payment fits your budget.
FHA Loan Limits by County
FHA loan limits vary by location and are set annually by HUD.
- Low-cost areas → lower limits
- High-cost areas → higher limits
If the home price exceeds your county limit, FHA financing won’t apply.
FHA Loan Limits 2025–2026
| Property Type | Low-Cost | High-Cost | Special Exception |
|---|---|---|---|
| 1-unit | $412,000 | $970,800 | $1,460,000 |
| 2-unit | $527,000 | $1,243,000 | $1,877,000 |
| 3-unit | $637,000 | $1,504,000 | $2,270,000 |
| 4-unit | $822,000 | $1,878,000 | $2,834,000 |
Types of FHA Loans You Can Calculate
- FHA 203(b) purchase loan
- FHA 203(k) rehab loan
- FHA Streamline refinance
- FHA HECM (reverse mortgage)
- Energy Efficient Mortgage (EEM)
FHA Loan vs Conventional Loan: Which Is Better for You?
| Factor | FHA Loan | Conventional Loan |
|---|---|---|
| Down payment | As low as 3.5% | As low as 3% |
| Credit score | More flexible | Stricter |
| Insurance | Mandatory MIP | PMI may be removable |
| Best for | First-time / low credit | Strong credit borrowers |
👉 Use the calculator above to compare real monthly costs.
Pros and Cons of FHA Loans
Pros
- Low down payment
- Flexible credit requirements
- Higher allowable DTI ratios
Cons
- Mortgage insurance increases long-term cost
- Loan limits by county
- Strict property requirements
Is an FHA Loan Worth It for You?
✔ FHA may be right if you:
- Have limited savings
- Have a lower credit score
- Want predictable payments
❌ Consider alternatives if:
- You can put 20% down
- You qualify for lower PMI
- You plan to refinance quickly
👉 Recalculate above to test different scenarios.
Accuracy & Methodology
This FHA loan calculator uses HUD-approved FHA mortgage formulas, current FHA MIP guidelines, and standard amortization methods used by FHA-approved lenders. Results are estimates for planning purposes and may vary by lender and location.
Final Takeaway
Before applying for an FHA loan, calculate first.
This FHA loan calculator helps you avoid surprises, compare options confidently, and understand the true cost of homeownership—before making one of the biggest financial decisions of your life.
👉 Calculate your FHA mortgage payment now and plan with confidence.
FAQs About FHA Loan Calculator
What does FHA mean?
FHA stands for Federal Housing Administration. An FHA loan is a government-backed mortgage designed to help first-time homebuyers and borrowers with lower credit scores qualify for homeownership with as little as 3.5% down payment.
What is the maximum loan amount on an FHA loan?
The maximum FHA loan amount varies by county and property type. For 2025–2026, limits range from $412,000 for 1-unit low-cost homes to $2,834,000 for 4-unit special exception areas. Our FHA loan calculator ensures your loan amount stays within these limits.
How much can I afford on an FHA loan?
You can determine affordability by calculating your monthly payment, including MIP, taxes, and insurance, relative to your income and debt-to-income (DTI) ratio. Use our FHA loan calculator to test different scenarios and see what fits your budget before applying.
FHA loan calculator free?
Yes! Our FHA loan calculator is completely free, requires no signup, and gives instant results, including monthly payments, MIP, taxes, insurance, and total loan cost.
FHA loan calculator with closing costs?
Our FHA loan calculator allows you to factor in estimated closing costs, giving a complete picture of your out-of-pocket expenses for buying your home.
Can I use an FHA loan with a low credit score?
Yes, FHA loans are designed for borrowers with lower credit scores. You may qualify with a score as low as 500, though a 3.5% down payment requires a score of 580 or higher. Our calculator helps you see the impact of your credit score on monthly payments.
How long do I pay FHA mortgage insurance (MIP)?
FHA mortgage insurance is paid both upfront (UFMIP) and annually (MIP). If your down payment is 10% or more, MIP lasts 11 years. With a lower down payment, MIP is paid for the life of the loan. Use the calculator to see exact amounts.
Can I refinance my FHA loan later?
Yes, many borrowers refinance to lower rates or remove MIP once they have enough equity. Our calculator can simulate refinance scenarios, helping you plan long-term savings.
How does an FHA 203(k) loan work?
An FHA 203(k) loan covers home purchase and renovation costs, including repairs or upgrades. Our calculator allows you to include renovation costs to estimate total monthly payments accurately.