Calculate FHA loan payments and insurance costs
For FHA borrowers calculating total payment including upfront MIP and annual mortgage insurance, available with as little as 3.5% down.
FHA Mortgage Calculator
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Create Free AccountWhat it does
The FHA Mortgage Calculator estimates your complete monthly payment including principal and interest, property taxes, insurance, and FHA mortgage insurance (MIP). Input down payment (3.5%+ minimum), loan amount, and credit profile to see both upfront MIP costs rolled into the loan balance and ongoing annual MIP that appears on your monthly statement.
FHA financing allows lower down payments and credit requirements than conventional financing, but comes with required mortgage insurance costs that increase your monthly payment. This calculator transparently shows MIP impact so first-time buyers understand the trade-off between ease of qualification and insurance costs.
Who it's for
- First-time homebuyers with limited down payments comparing FHA to conventional financing options
- Credit-challenged borrowers evaluating FHA loans where lower credit scores are acceptable
- Loan officers explaining MIP costs and total payment obligations to FHA applicants
- Real estate agents marketing properties to first-time buyer audiences using FHA financing
How it works
Enter loan amount and term
Borrowed amount and 15-year, 20-year, or 30-year amortization.
Input current FHA rates and fees
Interest rate, upfront MIP (1.75%), annual MIP (0.55–0.85% depending on LTV).
Calculate total monthly payment
P&I plus property taxes, insurance, HOA, and annual MIP.
Why it matters
See complete FHA payment: principal, interest, taxes, insurance, and MIP
Understand upfront MIP cost and how it's financed
Compare FHA versus conventional (PMI) costs
Identify when to refinance to conventional to drop MIP
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Frequently asked questions
What is upfront MIP and how is it financed?
Upfront MIP is 1.75% of loan amount, added to your loan balance. You finance it; it appears in P&I from day one.
How long do I pay annual MIP?
11 years if down payment under 10%; life of loan if 10%+ down. After MIP drops, payment falls significantly.
When should I refinance FHA to conventional?
When equity reaches 20% and conventional rates are lower, run the numbers. Refinance costs $3K–5K; you need 2–3 years of payment savings to break even.
Are FHA loans only for first-time buyers?
No — investors can use FHA on primary residence or investment property, though investment properties have different requirements.
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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Break down your monthly P&I, taxes, insurance, and see the full amortization schedule.
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