FHA Loan Calculator
Estimate your FHA payment, mortgage insurance, cash needed, payoff timeline, and total loan cost.
Your FHA Loan Inputs
$15,750 (3.5%)
$5,400 / yr
Your FHA Results
Estimated Total Monthly Payment
Estimated first-month FHA housing payment
FHA Mortgage Insurance Summary
See how upfront and annual FHA mortgage insurance affect this scenario.
Loan Balance and FHA MIP Over Time
Track the estimated financed mortgage balance and annual FHA mortgage-insurance cost.
FHA Loan Results Dashboard
Review payment, insurance, cash-to-close, payoff, and long-term cost in one place.
FHA Amortization Schedule
Review principal, interest, FHA MIP, housing costs, and remaining balance.
An FHA loan calculator helps you estimate the monthly payment and upfront costs of a mortgage insured by the Federal Housing Administration. Unlike a basic mortgage calculator, an FHA payment calculator needs to account for FHA mortgage insurance as well as principal, interest, property taxes, homeowners insurance, HOA dues, and other selected housing costs.
The calculator above separates the base FHA loan from the total financed mortgage so you can see what happens when the upfront mortgage insurance premium is added to the loan. It also estimates monthly FHA MIP, cash needed at closing, lifetime interest, payoff timing, and amortization so you can evaluate more than just the headline monthly payment.
How to Use the FHA Loan Calculator
Start with the home price and down payment. The difference becomes the base FHA loan amount. Then enter the interest rate, choose a 15- or 30-year term, and select the credit-score range that best fits the scenario you want to model. The calculator uses that information to flag whether the entered down payment meets the FHA minimum modeled by the tool.
Enter the full housing costs, not just principal and interest
Property taxes, homeowners insurance, HOA dues, and FHA mortgage insurance can materially change the payment you need to budget for. Enter realistic estimates for these costs so the total monthly payment is more useful than a principal-and-interest-only estimate.
Choose whether to finance the upfront FHA mortgage insurance
Expand the FHA insurance and closing-cost options to compare financing UFMIP with paying it upfront. When UFMIP is financed, the calculator adds it to the mortgage balance and recalculates principal and interest, total interest, amortization, and the loan balance over time. When it is paid upfront, that premium moves into the estimated cash-needed figure instead.
How an FHA Mortgage Payment Is Calculated
Your estimated FHA mortgage payment is built from several separate costs. The scheduled loan payment covers principal and interest, while FHA annual MIP, property taxes, homeowners insurance, and HOA dues can increase the amount you actually need each month.
Principal and interest
Principal reduces your mortgage balance. Interest is the lender's charge for borrowing. The payment is calculated from the financed mortgage amount, interest rate, and loan term.
FHA mortgage insurance
FHA loans generally use both an upfront mortgage insurance premium and an annual mortgage insurance premium collected through monthly installments. These costs are separate from homeowners insurance.
Property taxes and insurance
Taxes and homeowners insurance are ownership expenses rather than repayment of the mortgage itself, but they are often escrowed and included in the total monthly housing payment.
HOA dues
If the property belongs to a homeowners association, include the monthly HOA amount when judging affordability because it is an ongoing housing cost.
FHA Down Payment Requirements in the Calculator
The calculator models the commonly used FHA decision-credit-score thresholds: a 3.5% minimum down payment for the 580-or-higher tier and a 10% minimum for the 500-579 tier. A score below 500 is flagged as below the FHA minimum modeled by the calculator. These are program rules used for planning, not a promise that a lender will approve a borrower at those thresholds.
| Credit-score tier | Minimum down payment modeled | Maximum starting LTV modeled |
|---|---|---|
| 580 or higher | 3.5% | 96.5% |
| 500-579 | 10% | 90% |
| Below 500 | Not modeled as FHA eligible | — |
Individual lenders can impose stricter credit, debt-to-income, reserve, property, or documentation requirements. The calculator should be used to model a scenario before comparing actual lender offers.
How FHA Mortgage Insurance Works
FHA mortgage insurance protects the lender against certain losses and is one of the biggest differences between an FHA loan and a conventional mortgage. This calculator models both the upfront premium and the annual premium so you can see their effect separately.
FHA upfront mortgage insurance premium (UFMIP)
The standard purchase scenario in this calculator uses an upfront MIP rate of 1.75% of the base FHA loan. Financing that amount increases the total mortgage balance. Paying it upfront increases estimated cash needed instead. The dashboard shows both the base loan and total financed mortgage so the difference is easy to see.
FHA annual MIP and monthly MIP
Annual FHA MIP is collected through monthly installments. The rate depends on the mortgage term, original LTV, and base-loan tier. The calculator determines the applicable rate for the selected scenario and estimates the first-year monthly premium plus the premium over the modeled repayment period.
How long FHA MIP lasts
For the modern FHA purchase loans modeled here, annual MIP is modeled for 11 years when original LTV is 90% or less. When original LTV is above 90%, it is modeled for the loan term. This is different from conventional PMI, so you should not assume FHA MIP automatically ends when the balance reaches 80% LTV.
FHA Closing Costs and Cash Needed at Closing
A low down payment does not mean the down payment is the only cash you may need. Purchase transactions can also involve lender fees, title and settlement charges, appraisal costs, prepaid interest, escrow deposits, recording charges, and other transaction-specific expenses.
Use the optional closing-cost percentage as a planning estimate, then enter seller or lender credits if applicable. The calculator subtracts those credits from estimated closing costs and adds any cash-paid UFMIP to produce an estimated cash-needed figure. Your lender's Loan Estimate and Closing Disclosure should be used for transaction-specific costs.
FHA Loan Calculator Example
Suppose a buyer is considering a $450,000 home with 3.5% down. The base FHA loan would be $434,250 before upfront mortgage insurance. At a 1.75% upfront MIP rate, the UFMIP would add roughly $7,599 if fully financed, producing a total financed mortgage of about $441,849 before considering any other transaction-specific adjustments.
The monthly result would then depend on the interest rate, term, annual MIP rate, property taxes, homeowners insurance, and HOA dues. Changing any of these values in the calculator updates the payment and dashboard, making it easy to compare a larger down payment, lower rate, or different housing-cost assumptions.
FHA Loan vs. Conventional Mortgage
FHA and conventional mortgages can produce very different monthly and long-term costs. FHA financing can make a smaller down payment possible for an eligible borrower, but FHA mortgage insurance changes both the amount financed and the monthly payment. Conventional loans do not use FHA UFMIP and follow different private mortgage-insurance rules when PMI applies.
The right comparison depends on the borrower's credit profile, down payment, rate quotes, insurance costs, lender fees, and how long the mortgage is expected to remain outstanding. Use this FHA calculator for the FHA side of the comparison, then compare the same purchase price and housing costs with our mortgage calculator.
What the FHA Loan Results Mean
Estimated total monthly payment
Use the full payment, not just principal and interest, when deciding whether a home fits your monthly budget.
Base loan vs. total mortgage
The base FHA loan is the home price minus down payment. If UFMIP is financed, the total mortgage is higher than the base loan.
Estimated cash needed
This combines the down payment, net estimated closing costs after entered credits, and UFMIP when you choose to pay it upfront.
Total interest and MIP
Review both borrowing costs. Interest is paid for use of the lender's money, while FHA MIP is mortgage insurance and follows separate rules.
Frequently Asked Questions About FHA Loans
What does an FHA loan calculator include?
A useful FHA loan calculator should estimate principal and interest, upfront mortgage insurance premium (UFMIP), annual FHA mortgage insurance premium (MIP), property taxes, homeowners insurance, HOA dues, estimated closing costs, cash needed, and the loan payoff schedule.
How much is the FHA upfront mortgage insurance premium?
For the standard FHA purchase scenario modeled by this calculator, the upfront mortgage insurance premium is 1.75% of the base FHA loan amount. The calculator lets you model that amount as financed into the mortgage or paid upfront.
What down payment does this FHA calculator use?
The calculator models a 3.5% minimum down payment for the 580-or-higher credit-score tier and a 10% minimum for the 500-579 tier. Actual qualification can be more restrictive because lenders may apply additional underwriting requirements.
Does FHA mortgage insurance go away?
For modern FHA loans, the modeled MIP duration depends on the original loan-to-value ratio. This calculator models 11 years of annual MIP when the original LTV is 90% or less and the loan term when original LTV is above 90%.
Can I finance the FHA upfront MIP?
Yes, this calculator lets you compare financing the upfront FHA mortgage insurance premium with paying it upfront. Financing it increases the mortgage balance and therefore changes principal and interest costs.
Are FHA closing costs included in the loan amount?
This calculator treats estimated purchase closing costs as cash costs, then lets you enter seller or lender credits that reduce those costs. The FHA upfront mortgage insurance premium is handled separately because it can be financed into the mortgage in the modeled scenario.
Important FHA Calculator Limitations
Results are educational estimates and are not a pre-approval, Loan Estimate, commitment to lend, or determination of FHA eligibility. FHA county loan limits vary by location, and this calculator does not automatically determine the loan limit for a property. Actual rates, mortgage-insurance premiums, taxes, insurance, closing costs, credits, appraisal results, underwriting requirements, and lender overlays can change the final loan terms.