Calculate FHA upfront and annual mortgage insurance
For FHA borrowers understanding total insurance cost: upfront MIP, annual MIP payments, and impact on total monthly payment and interest.
FHA Mortgage Insurance Premium Calculator
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Create Free AccountWhat it does
The FHA MIP Calculator breaks down upfront Mortgage Insurance Premium costs and ongoing annual MIP payments on FHA loans, showing the total insurance cost that increases your monthly payment but enables lower down payments and credit scores. Input loan amount and down payment to see MIP components.
FHA financing democratizes homeownership through lower credit requirements and down payments, but mortgage insurance costs materially increase your payment. This calculator shows the insurance trade-off so buyers understand the cost of access to FHA programs.
Who it's for
- First-time homebuyers with limited credit history evaluating FHA financing
- Borrowers with credit challenges comparing FHA insurance costs to other programs
- Mortgage officers explaining FHA MIP mechanics and costs to applicants
- Real estate agents discussing FHA loan advantages and costs with credit-challenged buyers
How it works
Enter FHA loan details
Loan amount, interest rate, down payment percentage, term.
Calculate upfront and annual MIP
Upfront: 1.75%; annual: 0.55–0.85% depending on LTV.
Model total monthly payment and interest
See full impact of MIP on your payment and total interest paid.
Why it matters
See upfront MIP cost (1.75% financed into loan)
Calculate annual MIP and monthly payment impact
Model how long MIP is paid: 11 years (if 10%+ down) or life of loan
Compare FHA total cost to conventional + PMI alternative
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Frequently asked questions
Is FHA MIP worth it with low down payment?
For buyers under 10% down: often yes vs huge conventional PMI. For 10%+ down: weigh MIP against conventional.
How long do I pay annual MIP on FHA?
11 years if down payment 10%+; life of loan if under 10%. Plan refinance to conventional after 11 years if possible.
Can I remove FHA MIP early?
No — automatic removal only at end of required period. You must refinance to conventional to remove before term ends.
What's the difference between upfront and annual MIP?
Upfront: 1.75% added to loan balance upfront (you finance it). Annual: 0.55–0.85% paid monthly via escrow. Both real costs.
Is this calculator free to use?
Yes — create a free Investor Starter account to run 1 calculator per day. No credit card required. Upgrade to Core ($49/mo) for unlimited access to all 67 calculators.
How accurate are the results?
Results are only as accurate as your inputs. The formulas use industry-standard real estate investment math. Always verify with a licensed professional before committing capital.
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