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FHA Loan Calculator

FHA payment including upfront and annual mortgage insurance.

Calculators Reviews Free · no sign-up
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Why the loan is bigger than the price minus your deposit

Purchase price—
Less down payment—
Base loan—
Plus upfront MIP financed—
Total financed—

Monthly payment

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Principal & interest—
Annual MIP monthly—
Property tax—
Insurance—
Cash needed at closing—
Upfront MIP—
Total interest—
Loan-to-value—

Quick Tool Overview

The FHA Loan Calculator estimates the monthly payment on an FHA mortgage with both insurance charges included: the upfront premium financed into the balance and the annual premium spread across the payments. It is what makes the true FHA cost visible.

What it does
Calculates an FHA payment with upfront and annual MIP
You give it
Purchase price, down payment, rate and term
You get back
The monthly payment, both MIP amounts and the total loan
Best for
Buyers with a small down payment comparing FHA against conventional
Calculators Free, unlimited use No sign-up Runs in your browser

About the FHA Loan Calculator

An FHA loan allows a smaller down payment than a conventional mortgage, but it carries two mortgage insurance charges rather than one. Enter the price, the down payment, the rate and the term to get the payment with both premiums included.

The upfront premium is normally financed into the loan rather than paid in cash, so the amount you borrow is larger than the price minus your down payment. The annual premium is then divided by twelve and added to every payment. Together they are what makes an FHA loan more expensive than its headline rate suggests, and with a down payment under ten percent the annual premium runs for the life of the loan rather than falling away at twenty percent equity.

Key features of the FHA Loan Calculator

Both premiums modelled

Upfront MIP is added to the balance and annual MIP is divided across the payments, exactly as a lender does it.

The financed loan is larger than you think

Because upfront MIP is rolled in, you borrow more than the price minus your down payment.

Eleven-year rule flagged

At ten percent down or more, annual MIP ends after eleven years; below that it runs for the life of the loan.

Editable premium rates

MIP percentages change from time to time, so both are inputs rather than hard-coded constants.

Full housing payment

Add property tax and homeowners insurance for the figure that actually leaves your account.

How to use the FHA Loan Calculator

  1. 1

    Enter the purchase price

    The agreed price of the home, then the down payment you are putting in.

  2. 2

    Set the rate and term

    The FHA rate you have been quoted and the term, usually thirty years.

  3. 3

    Check the MIP rates

    The upfront and annual premiums are pre-filled with the usual figures and can be edited.

  4. 4

    Add tax and insurance

    Include property tax and homeowners insurance for the full monthly housing cost.

Frequently asked questions

Three and a half percent of the purchase price for borrowers meeting the credit score requirement, rising to ten percent for lower scores. That low threshold is the main reason people choose FHA.

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