FHA Loan Calculator (2026)
Calculate monthly FHA loan payments with 3.5% down payment, 1.75% upfront mortgage insurance (UFMIP), monthly MIP (0.55%), property tax and homeowners insurance.
United States Calculator
Adjust Your Inputs
Move the sliders or type exact numbers. Results update instantly.
Instant Estimate
Your Results
Total Monthly FHA Payment
$2,746
Based on your selected fha loan calculator assumptions. Try different sliders to compare scenarios.
Principal & Interest
$2,116
Monthly FHA Mortgage Insurance (MIP)
$155
Upfront MIP (1.75% Financed)
$5,911
Total Loan Amount (Base + UFMIP)
$343,661
Cash Down Payment
$12,250
These calculations are financial projections and planning estimates, not tax, legal or licensed financial advice. 2026 IRS thresholds and mortgage lender rates vary by location.
How to Use the FHA Loan Calculator
Enter purchase price & down payment
Input the home price and down payment percentage (minimum 3.5% for credit scores 580 and above).
Review financed Upfront MIP
The calculator automatically applies the statutory 1.75% Upfront Mortgage Insurance Premium (UFMIP) to your base loan balance.
Configure rate & loan term
Input your fixed interest rate and loan term (15 or 30 years).
Review total monthly PITI + MIP
See your complete monthly housing payment broken down by principal, interest, 0.55% monthly MIP, property taxes, and insurance.
Formula & Calculation Methodology
Monthly Payment = Principal & Interest (Loan + 1.75% UFMIP) + Monthly MIP (0.55%) + Property Tax + InsuranceThis calculator uses standard United States financial formulas, IRS thresholds, and amortization schedules. All results compute instantly in your browser with zero data stored or transmitted.
Calculation Examples & Scenarios
$350,000 Starter Home (3.5% Down = $12,250)
$350,000 purchase price, 3.5% down, 6.25% interest rate, 30-year fixed, $4,200 annual taxes, $1,500 insurance.
$500,000 Family Home (5% Down = $25,000)
$500,000 price, 5% down, 6.50% rate, 30 years.
$250,000 Townhome (10% Down = $25,000)
$250,000 price, 10% down. Note: MIP automatically cancels after 11 years on 10%+ down payment.
Key Benefits
- Finances the mandatory 1.75% Upfront Mortgage Insurance Premium (UFMIP) into total borrowing
- Accurately calculates the 0.55% annual MIP charge across 12 monthly payments
- Enables apples-to-apples comparisons between FHA 3.5% down and Conventional 97 / HomeReady loans
Common Use Cases
- First-time homebuyers with credit scores between 580 and 680 budgeting for monthly affordability
- Buyers deciding whether 3.5% down FHA or 5% down Conventional provides lower total closing costs
- Homeowners evaluating when refinancing an existing FHA loan into Conventional eliminates monthly MIP
Understanding FHA Mortgage Insurance: UFMIP vs. Annual MIP
Federal Housing Administration (FHA) loans require two distinct forms of mortgage insurance. The first is the Upfront Mortgage Insurance Premium (UFMIP), fixed at 1.75% of your base loan amount. Rather than requiring cash at closing, lenders finance this 1.75% directly into your total loan balance.
The second is the Annual MIP, currently set at 0.55% of the loan amount for 30-year mortgages with 3.5% down. This fee is divided into 12 monthly installments and added to your monthly mortgage statement.
Can You Ever Remove FHA Mortgage Insurance?
For borrowers putting down less than 10%, FHA annual MIP remains for the entire life of the 30-year mortgage. The only way to remove MIP is to refinance into a conventional loan once your home equity reaches at least 20%.
However, if you provide a down payment of 10% or more at purchase, FHA regulations mandate that annual MIP cancels automatically after 11 years.
Frequently Asked Questions
The Federal Housing Administration (FHA) requires a minimum down payment of 3.5% for borrowers with a credit score of 580 or higher. Borrowers with credit scores between 500 and 579 must provide at least 10% down.
FHA loans carry two types of mortgage insurance: 1) Upfront Mortgage Insurance Premium (UFMIP), which is 1.75% of the base loan amount and almost always financed directly into the loan balance; and 2) Annual MIP, which is 0.55% of the loan amount divided into 12 monthly installments added to your mortgage bill.
If you put down less than 10%, FHA annual MIP stays on the loan for the entire 30-year life of the mortgage unless you refinance into a conventional loan once you reach 20% equity. If you put down 10% or more at purchase, MIP cancels automatically after 11 years.
FHA loan limits are adjusted annually based on county median home prices. For 2026, the national baseline "floor" for single-family homes is $498,257 in low-cost counties, and the "ceiling" extends up to $1,149,825 in high-cost areas like California, New York, and Hawaii.
FHA loans are ideal for buyers with credit scores under 680, high debt-to-income ratios (up to 50%), or small down payments, because FHA interest rates are competitive. However, for buyers with strong credit (720+) and 5%+ down, conventional loans are often cheaper overall because private mortgage insurance (PMI) is lower and cancels automatically at 20% equity.
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Related United States Guides
2026 FHA Loan Limits, Down Payment & Credit Score Requirements
Complete guide to qualifying for an FHA home loan: 3.5% down payment rules, credit score minimums, debt-to-income limits, and 2026 county lending caps.
FHA vs Conventional Mortgages: Rates, MIP & Total Cost Comparison
Compare FHA and conventional mortgages: see how 3.5% down vs 3%–5% down, credit score tiers, and mortgage insurance premiums (MIP vs PMI) change your total monthly payment.
How to Remove FHA Mortgage Insurance (MIP): Rules & Refinance Strategies
Understand FHA Upfront (1.75%) and Annual (0.55%) MIP rules, why MIP lasts for the life of the loan on low down payments, and how to eliminate it through conventional refinancing.