FHA loan calculator

Estimate an FHA mortgage payment with upfront and annual mortgage insurance from HUD's current table, the minimum down payment for your credit score, and taxes.

By the Calcist team · Checked against known answers · Updated October 28, 2026

Rates here are editable examples, not today's rates. Use the rate from your own quote or Loan Estimate.

Private: calculated on your device. Nothing you type is sent anywhere.

Estimates for planning, not financial, tax or legal advice. Figures use US rules unless the page says otherwise.

Next: Compare with a conventional loan and PMI in the PMI calculator, or a VA loan if you served.

What it does

FHA loans are insured by the Federal Housing Administration, which lets you buy with a small down payment. In return you pay mortgage insurance premiums (MIP): an upfront MIP of 1.75%, usually added to the loan, and an annual MIP paid monthly. This calculator applies both and adds tax, insurance and HOA dues.

Minimum down payment

Credit score 580 or higher: 3.5% down.
Credit score 500 to 579: 10% down (maximum 90% LTV).
Below 500: not eligible for an FHA-insured mortgage.

Annual MIP rates (case numbers from March 20, 2023)

Term	Base loan	LTV	Annual MIP	How long
Over 15 years	$726,200 or less	90% or less	0.50%	11 years
		Over 90% to 95%	0.50%	Loan term
		Over 95%	0.55%	Loan term
Over 15 years	Over $726,200	90% or less	0.70%	11 years
		Over 90% to 95%	0.70%	Loan term
		Over 95%	0.75%	Loan term
15 years or less	$726,200 or less	90% or less	0.15%	11 years
15 years or less	$726,200 or less	Over 90%	0.40%	Loan term
15 years or less	Over $726,200	78% or less	0.15%	11 years
		Over 78% to 90%	0.40%	11 years
		Over 90%	0.65%	Loan term

So with 10% or more down you pay annual MIP for 11 years. With less, you pay it for the life of the loan.

How it's calculated

Base loan = price − down payment LTV = base loan ÷ price
Upfront MIP = 1.75% × base loan Loan = base loan + upfront MIP
Monthly MIP ≈ loan × annual MIP rate ÷ 12
Payment = principal and interest + MIP + tax ÷ 12 + insurance ÷ 12 + HOA

Worked example

A $300,000 home with 3.5% down: the base loan is $289,500 and the upfront MIP is $5,066.25, so you borrow $294,566.25. The LTV is 96.5%, so annual MIP is 0.55% for the life of the loan: about $135.01 a month. Principal and interest at 6.5% for 30 years is $1,861.86.

Limitations

The monthly MIP here uses the starting loan amount. Your lender's figure may differ slightly.
FHA loan limits vary by county. Check yours with HUD's FHA mortgage limits lookup.
HUD can change MIP rates. This page uses Mortgagee Letter 2023-05.

Sources

How we checked this

Before every update, this calculator is run in a real browser with these known answers, and it must match all of them:

$300,000, 3.5% down: upfront MIP $5,066.25 ✓
Same: annual MIP 0.55%, $135.01 a month ✓
Same: P&I $1,861.86, total $1,996.87 ✓
$350,000 with 10% down: 0.5% MIP for 11 years, $133.55 ✓
15-year term, 3.5% down: annual MIP 0.4% ✓
$800,000 with 3.5% down (base above $726,200): 0.75% ✓
Score 500–579 with 5% down: needs 10% ✓

Last checked October 26, 2026. Spotted something wrong? The math is done in your browser with the formula shown on this page, so you can check any result by hand.

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Questions people ask

How do I estimate an FHA loan payment?

Take the price minus your down payment, add the 1.75% upfront MIP, and work out principal and interest. Then add annual MIP (0.55% a year for most 30-year loans with 3.5% down), property tax, insurance and HOA.

What is the minimum down payment for an FHA loan?

3.5% with a credit score of 580 or higher, and 10% with a score from 500 to 579.

How much is FHA mortgage insurance?

1.75% of the base loan upfront, plus annual MIP. For loans over 15 years up to $726,200, the annual rate is 0.55% above 95% LTV and 0.50% at 95% or less.

Can I get rid of FHA MIP?

If you put at least 10% down, annual MIP ends after 11 years. With less down it lasts for the life of the loan, so the only way out is to refinance.

What are the FHA loan limits?

They depend on your county and the number of units. Look yours up on HUD's FHA mortgage limits page.

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