FHA Loan Tool · Free
MortgageDaily CalculatorFHA Mortgage Calculator
Estimate your FHA loan payment including upfront and annual mortgage insurance premiums. See the true cost of buying with as little as 3.5% down.
Min down 3.5% with 580+ score
UFMIP 1.75% standard
2026 limit $498K most areas
FHA Mortgage Calculator
FHA Mortgage Calculator
ZIP: —
Estimated monthly payment
$0.00
—
Amortization Schedule (P&I)—
| Month | Payment | Principal | Interest | Balance |
|---|
Estimates only. FHA MIP rules vary by case and can change.
How to Use
Using the FHA Calculator
1
Home price — enter the purchase price. Check it's within FHA limits for your county.
2
Down payment — click "Set 3.5%" for the FHA minimum. 10%+ down reduces MIP duration.
3
UFMIP — standard is 1.75%. Choose "Roll into loan" or "Pay upfront" at closing.
4
Annual MIP — click "Auto" for estimate based on your LTV and loan term.
5
Add taxes & insurance — for a complete all-in monthly payment estimate.
FHA Annual MIP Reference
| Term | LTV | Annual MIP |
|---|---|---|
| 30-year | ≤90% | 0.50% |
| 30-year | 90–95% | 0.50% |
| 30-year | >95% | 0.55% |
| 15-year | ≤78% | 0.15% |
| 15-year | 78–90% | 0.40% |
| 15-year | >90% | 0.65% |
Simplified reference. HUD rates may vary. Use Auto button in calculator.
FHA Loan Basics
Key FHA Loan Facts
💡
Low Down Payment: 3.5%
On a $300K home that's just $10,500 down. Makes homeownership accessible for buyers with limited savings.
📋
Upfront MIP: 1.75% of Loan
Paid at closing (or rolled into loan). On a $290K loan = $5,075 UFMIP. Rolling it in increases your balance and interest slightly.
📅
Annual MIP: Paid Monthly
On a $280K loan at 0.55%/yr = ~$128/month added to your payment. With <10% down, this lasts the life of the loan.
🎯
Credit Flexibility: 580+ for 3.5% Down
Scores 500–579 can still qualify with 10% down. FHA is the go-to option for buyers rebuilding credit history.
📍
2026 Loan Limits
Most areas: $498,257. High-cost areas (NYC, LA, SF): up to $1,149,825. Check your county limit before assuming FHA works for your price.
FAQ
FHA Calculator FAQ
How is an FHA loan different from a conventional loan?
FHA loans are government-insured, allowing lower down payments (3.5%) and credit requirements (580+). The trade-off is mandatory mortgage insurance — both upfront (1.75%) and annual (0.55%+). Conventional loans can drop PMI once you reach 20% equity; FHA MIP with <10% down lasts the life of the loan.
Can I remove FHA mortgage insurance?
With <10% down, MIP is permanent. With 10%+ down, MIP drops after 11 years. Many borrowers refinance into a conventional loan once they reach 20% equity — often saving $100–$200/month by eliminating the MIP entirely.
Is FHA only for first-time buyers?
No. Anyone meeting FHA requirements can apply, though you can only have one FHA loan at a time in most cases. It's popular with first-time buyers and those with credit challenges, but repeat buyers use it too when it offers better terms than conventional options.
What are the income requirements for an FHA loan?
There's no minimum income requirement. Your total DTI ratio (all monthly debts ÷ gross income) generally can't exceed 43%, though some lenders allow up to 50–57% with compensating factors like significant cash reserves or a strong employment history.
Where can I find official FHA loan information?
FHA loans are insured by the federal government through the
U.S. Department of Housing and Urban Development (HUD).
For current FHA loan limits by county, MIP rates, and eligibility requirements, visit the
HUD FHA mortgage insurance page.
The CFPB
also has a helpful guide on comparing FHA vs. conventional loans.
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