This FHA loan calculator gives you the real monthly number by adding what most basic tools leave out: the 1.75% upfront mortgage insurance premium and the ongoing monthly MIP that comes with every FHA loan.
This calculator is designed for buyers using an FHA loan, the government-insured mortgage that lets you put as little as 3.5% down. You enter the purchase price, down payment, interest rate, and loan term, and it returns your full monthly payment with both layers of FHA mortgage insurance baked in. What sets an FHA payment apart from a conventional one is the mortgage insurance premium, or MIP — a 1.75% upfront charge plus an annual premium paid monthly, usually 0.55% for borrowers with under 5% down. The tool also lets you add property taxes and homeowners insurance for a true PITI estimate. It assumes US FHA rules and 2026 loan limits. Use it to check affordability, compare FHA against other loan types, or confirm a lender's quote.
You only need a few details from a listing and a rate quote. Follow along:
Enter the home price.
Use the purchase price you're targeting or a listing you're considering.
Set your down payment.
FHA's minimum is 3.5% for credit scores of 580 or higher; enter that or more.
Add your interest rate and term.
FHA 30-year rates hovered near 6.35% in June 2026. Pick 15 or 30 years.
Confirm the MIP settings.
The tool applies 1.75% upfront MIP (usually financed into the loan) and the correct annual rate automatically.
Include taxes and insurance.
Enter your estimated annual property tax and homeowners insurance for a complete payment.
Review your full payment.
See principal, interest, monthly MIP, taxes, and insurance combined.
Adjust the down payment to watch how it changes both your loan size and your MIP duration.
The calculator stacks several pieces to reach your true monthly cost. First, it sizes your base loan: home price minus down payment. Then it adds the upfront MIP of 1.75% to that base, since most buyers finance it rather than pay cash:
Base Loan = (Price − Down Payment) + (Base Loan × 1.75%)
Next comes principal and interest on that total, using standard amortization. The annual MIP is where FHA differs sharply from conventional loans. For a 30-year loan with less than 5% down, the rate is 0.55% of the loan balance, divided by 12 for your monthly charge:
Monthly MIP = (Loan Balance × 0.55%) ÷ 12
Finally, taxes and insurance are split into monthly amounts and added on. Here's what that actually means: on a typical FHA loan, MIP alone can add roughly $130–$180 a month on top of your principal and interest. That insurance is the price of the low down payment, and the calculator shows it plainly instead of burying it.
The number you see is your all-in monthly housing cost, and the MIP slice deserves your attention. With less than 10% down, FHA mortgage insurance lasts the entire life of the loan — it doesn't fall off automatically the way conventional PMI does at 20% equity. Put 10% or more down and MIP drops after 11 years instead. That difference can mean tens of thousands of dollars over a 30-year term. If your payment feels high, the insurance is usually why, and the fix is often refinancing to a conventional loan once you reach about 20% equity. Compare your result against the 30%-of-gross-income guideline to gauge affordability. A payment that looks fine on principal and interest alone can tip into uncomfortable territory once both MIP layers and escrow are included, which is exactly why seeing the complete figure up front matters.
Several inputs move your FHA payment, some more than buyers expect:
Below 10% locks MIP in for the full loan term; 10% or more shortens it to 11 years. The down payment also sets your loan balance.
FHA 2026 limits range from a $541,287 floor to a $1,249,125 ceiling in high-cost areas. Loans above the conforming limit carry a higher MIP rate.
FHA rates often run slightly below conventional, but even a quarter point shifts your payment meaningfully.
These swing widely by state and county and can add hundreds to your monthly escrow.
Premiums vary by location and home age; coastal and wildfire-prone areas cost more.
A 15-year FHA loan carries a much lower MIP rate and far less total interest, though the monthly payment is higher.
Jordan buys a $320,000 home with the FHA minimum 3.5% down, or $11,200. The base loan is $308,800, and financing the 1.75% upfront MIP ($5,404) brings the total to about $314,204. At 6.35% over 30 years, principal and interest run roughly $1,955. Monthly MIP at 0.55% adds about $144. Add an estimated $333 in property tax and $125 in insurance, and Jordan's full payment lands near $2,557. Because the down payment is under 10%, that MIP stays for the life of the loan unless Jordan refinances.
Priya purchases a $290,000 home with 10% down ($29,000). Her base loan is $261,000, plus financed upfront MIP of $4,568, totaling about $265,568. At 6.35% for 30 years, principal and interest are near $1,652. Monthly MIP at 0.50% adds roughly $111. With $300 in taxes and $110 in insurance, her payment is about $2,173. The bigger reward is hidden: with 10% down, Priya's MIP drops off after 11 years, saving her years of insurance premiums Jordan will keep paying.
A little planning around MIP can save you real money on an FHA loan:
Push to 10% down if you can. Crossing that threshold cuts MIP duration from the full term to 11 years, a major long-term saving.
Plan your refinance exit. Once you hit roughly 20% equity, refinancing to a conventional loan can eliminate MIP entirely.
Always view the full PITI. Principal and interest alone hide the true cost; insist on seeing taxes, insurance, and both MIP layers together.
Mind the loan limits. Staying at or under your county's FHA limit keeps you in the lower MIP tier.
Compare against conventional. With strong credit, a conventional loan with removable PMI sometimes beats FHA over time.
Shop multiple lenders. FHA rates and fees vary, and a lower rate compounds across 30 years.
An FHA loan calculator adds the 1.75% upfront mortgage insurance premium and the monthly MIP that every FHA loan carries. A standard mortgage calculator usually omits these, understating your real payment. This tool folds both into your full PITI estimate.
The FHA minimum down payment is 3.5% for borrowers with a credit score of 580 or higher. Scores between 500 and 579 require 10% down. On a $320,000 home, 3.5% comes to $11,200.
FHA MIP has two parts: a one-time upfront premium of 1.75% of the base loan, plus an annual premium of about 0.55% for most borrowers, charged monthly. The upfront fee is usually financed into the loan. On a $300,000 loan that's roughly $5,250 upfront and about $138 a month.
With less than 10% down, FHA MIP lasts the entire life of the loan and does not drop off automatically. Put 10% or more down and it ends after 11 years. Many borrowers eliminate it by refinancing to a conventional loan once they reach about 20% equity.
For 2026, FHA loan limits run from a floor of $541,287 to a ceiling of $1,249,125 for a single-family home, depending on your county. High-cost metros like San Francisco and New York sit at the ceiling. Most areas fall at or near the floor.
Yes, running an FHA loan calculator alongside a conventional estimate reveals the trade-off between FHA's low down payment and its lasting mortgage insurance. Conventional PMI can be removed at 20% equity, while FHA MIP often cannot. Comparing both helps you pick the cheaper long-term path.
Your total FHA payment includes principal, interest, monthly MIP, property taxes, and homeowners insurance. On a $320,000 home with 3.5% down at 6.35%, that's roughly $2,550 a month. The exact figure depends on your taxes, insurance, and rate.
Brief disclaimer: This calculator provides estimates for educational and planning purposes only. Actual FHA loan terms, MIP rates, and limits depend on your lender, credit profile, and county-level guidelines. Results should be treated as planning guidance rather than financial or mortgage advice.