FHA mortgage payment calculator

FHA Loan Calculator

Estimate an FHA mortgage payment with upfront MIP, annual MIP, property tax, homeowners insurance, HOA dues, closing costs, and mortgage insurance duration assumptions.

Estimated monthly FHA payment $0

Principal, interest, MIP, tax, insurance, and HOA.

Inputs

Home Price, FHA Loan Terms, and Housing Costs

Default mortgage insurance assumptions follow the HUD Mortgagee Letter 2023-05 schedule for standard FHA forward mortgages. Adjust the fields if your loan program or lender quote differs.

Purchase and loan details

Monthly housing costs

FHA estimate $0

Your FHA payment estimate will appear here.

Base FHA loan $0
Financed UFMIP $0
Total FHA loan $0
Annual MIP rate 0%
Monthly MIP $0
Cash needed $0

Monthly payment breakdown

P&I MIP Tax Insurance HOA
Loan-to-value 0%
MIP duration estimate N/A
Principal and interest $0

Formula used

Base loan = price - down payment. UFMIP = base loan x UFMIP rate. Monthly FHA payment = P&I + monthly annual MIP + tax + insurance + HOA.

Method

How This FHA Loan Calculator Works

The calculator starts with the purchase price and down payment to estimate the FHA base loan amount. It then adds the upfront mortgage insurance premium if financed, calculates principal and interest, estimates monthly annual MIP, and adds tax, insurance, and HOA costs.

The annual MIP estimate uses loan term, base loan amount, and loan-to-value ratio. FHA program exceptions can apply, so lender disclosures should always be checked before making a decision.

Policy note

Default FHA Mortgage Insurance Assumptions

For standard FHA Title II forward mortgages, HUD Mortgagee Letter 2023-05 lists upfront MIP at 1.75% of the base loan amount and provides annual MIP rates by loan term, loan amount threshold, and LTV.

The default threshold field is set to the 2023 table value shown in that letter. If a later FHA schedule, local program, or lender estimate uses a different threshold or MIP treatment, update the field before relying on the estimate.

Practical examples

What FHA Buyers Should Compare

An FHA loan can help buyers qualify with a lower down payment, but mortgage insurance changes the monthly payment and long-term cost.

Low down payment purchase

A 3.5% down payment can reduce cash needed upfront, but it usually creates a higher LTV and annual MIP for the loan term on many 30-year FHA loans.

Comparing FHA and conventional

FHA may have different qualification strengths, but a conventional loan with PMI may become cheaper for some borrowers depending on credit, down payment, and PMI cancellation.

Budgeting beyond P&I

Principal and interest are only part of the payment. Tax, insurance, HOA, and MIP can materially change affordability.

Before applying

FHA Costs and Rules to Verify

This calculator is useful for planning, but official approval depends on the lender and FHA rules. Buyers should verify loan limits, property eligibility, credit requirements, debt-to-income ratios, gift funds, seller concessions, and the final Loan Estimate.

Also confirm whether upfront MIP is financed into the loan or paid in cash, because that changes both the loan balance and cash needed at closing.

Check with your lender
  • County FHA loan limit
  • Final MIP rate and duration
  • Credit and DTI requirements
  • Property appraisal and condition rules
  • Closing costs and seller credits
  • Whether UFMIP is financed or paid upfront

Related tools

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Use these tools to compare FHA payment, affordability, DTI pressure, and refinance alternatives.

Mortgage payment Mortgage Calculator

Estimate a broader mortgage payment with taxes, insurance, PMI, HOA, and amortization.

 Home budget House Affordability Calculator

Check purchase price range from income, debts, cash, and housing costs.

 Qualification pressure DTI Ratio Calculator

Estimate front-end and back-end DTI before applying.

 Future refinance Refinance Calculator

Compare refinance payment, costs, and break-even if your FHA loan changes later.

FAQ

FHA Loan Calculator FAQ

Does the FHA loan calculator include upfront MIP?

Yes. The calculator estimates upfront MIP from the base loan amount and the UFMIP percentage. The default assumes it is financed into the FHA loan balance.

Does annual FHA MIP last forever?

Not always. Some FHA loans have annual MIP for 11 years, while others carry it for the mortgage term. Duration depends on term, LTV, and program rules.

Why is the FHA total loan larger than the base loan?

If upfront MIP is financed, it is added to the loan balance. That means interest is calculated on a larger amount than the base loan alone.

Does this include FHA loan limits?

No. FHA loan limits vary by county and property type. Check the current county loan limit with HUD or your lender before relying on a purchase scenario.

Is this an FHA approval estimate?

No. It is a payment calculator. Approval depends on underwriting, credit, income, debts, assets, property eligibility, loan limits, and documentation.

Disclaimer

This calculator is for general informational purposes and simple arithmetic checks. It is not a loan offer, FHA approval, HUD disclosure, legal advice, tax advice, or financial advice. Verify FHA mortgage insurance, county loan limits, lender fees, and eligibility with your lender or a qualified professional.