🗽 FHA Loan Calculator
FHA loans allow down payments as low as 3.5%, but they charge mortgage insurance twice: an upfront premium of 1.75% of the loan (usually financed into the balance) and an annual premium of 0.55%, paid monthly for the life of the loan.
This calculator follows the standard FHA structure for a 30-year loan. Actual premiums can vary slightly by loan size and term, so confirm with your lender.
How to use this calculator
Enter the home price, down payment percent (3.5% minimum), rate and term to see the FHA monthly payment including both mortgage insurance premiums.
- Type the Home price.
- Set the Down payment percent (at least 3.5).
- Enter the Annual interest rate and pick a Loan term.
- Press Calculate to see the payment with MIP included.
Frequently asked questions
What are the two FHA mortgage insurance charges?
An upfront premium of 1.75% of the base loan, usually financed into the balance, and an annual premium of 0.55%, paid monthly for the life of the loan.
How is the monthly payment built?
The base loan plus the financed upfront MIP is amortized normally for principal and interest, then one twelfth of the annual MIP is added on top.
Can you walk through an example?
On a $300,000 home with 3.5% down at 6.5% over 30 years, the loan including upfront MIP is $294,566.25. Principal and interest are about $1,861.86, monthly MIP about $132.69, for a total near $1,994.55.
Who is an FHA loan for?
Buyers with small down payments or weaker credit who meet FHA eligibility rules. The trade-off for easy entry is the insurance cost shown here.