FHA Mortgage Calculator With MIP, Payment & Affordability
United States Uses U.S. federal housing program rules (FHA or VA). Figures are in U.S. dollars.
See your full FHA payment with the 1.75% upfront fee and monthly MIP, the down payment your credit score needs, and when MIP ends. Free, 2026 HUD limits.
Educational estimate only. Not a lending decision. Your numbers stay in this browser.
Results
How to read this: the verdict describes how much room your numbers leave, not a decision or an offer. Change any input to see how much the result moves.
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Use this in the Buy A Home journey
The journey lines up payment, down payment, debt share of income, and affordability side by side, so one number becomes a full home-buying picture.
Open the Buy A Home journeyMortgage guides
These guides explain mortgage payment, amortization, extra-payment, housing-cost, and closing-cost concepts behind the calculator.
- How mortgage payments work
- Mortgage amortization explained
- Extra mortgage payments explained
- Mortgage taxes, insurance and PMI
- Closing costs explained
For all guide topics, open Guides. For source and estimate boundaries, read Calculation Methodology and Sources and Assumptions.
When this calculator fits
Use this page when you are weighing an FHA loan and want the payment with both mortgage insurance premiums in it: the 1.75% upfront premium and the annual premium charged monthly. It works as an FHA loan calculator and an FHA MIP calculator in one, showing how long the annual premium lasts, what it costs over the loan, and what refinancing out of it once the balance reaches 80% of the price could save. It also checks the loan against FHA program minimums: the down payment your credit score allows and where the loan sits against FHA loan limits. Use it as an FHA loan payment estimator: the FHA payment it shows includes the upfront and annual mortgage insurance premiums that FHA financing adds. To start from your income instead, the FHA affordability section below shows how much house an FHA loan buys at common incomes, with both premiums counted. The payment it shows is principal, interest and FHA mortgage insurance, plus any property tax, homeowners insurance and HOA dues you enter; a cost left blank is not in the total, and the result names it.
What this FHA calculator does, and when to reach for it
An FHA loan is a mortgage insured by the Federal Housing Administration, part of HUD. The insurance is what lets a lender accept 3.5% down and credit scores down to 580, and the borrower pays for it twice: an upfront mortgage insurance premium of 1.75% of the loan, and an annual premium charged monthly. A plain mortgage calculator leaves both out, which is why its FHA payment comes out too low.
This page puts both premiums in, tells you how long the annual premium lasts (11 years, or the whole loan), and checks the loan against FHA’s own minimums: credit score, down payment and the 2026 national loan limits. Every HUD figure it uses was read from HUD’s own documents.
Reach for it when you are comparing an FHA loan with a conventional one, deciding between 3.5% and 10% down, or wondering what the insurance will cost over the years you expect to keep the loan.
How much house can I afford with an FHA loan?
Lenders size an FHA loan from your income with two ratios. The usual FHA guides are 31% of gross monthly income for the whole housing payment, and 43% for that payment plus your other monthly debts; the lower of the two sets your budget. Many lenders go higher with strong credit or savings, so treat these as the common starting point, not a ceiling.
The part most affordability calculators miss is the insurance. On an FHA loan the housing payment has to carry the annual mortgage insurance premium as well as principal, interest, taxes and homeowners insurance, and the 1.75% upfront premium is added to the loan. Leave both out and an FHA budget comes out roughly 7–9% too high.
Highest FHA home price by income, 3.5% down, 6.5%, 30 years
| Gross annual income | No other debts | $1,000 a month of other debts |
|---|---|---|
| $50,000 | $134,000 | $59,000 |
| $60,000 | $173,000 | $113,000 |
| $75,000 | $231,000 | $194,000 |
| $90,000 | $290,000 | $275,000 |
| $100,000 | $329,000 | $329,000 |
| $125,000 | $426,000 | $426,000 |
| $150,000 | $523,000 | $523,000 |
Each price is the highest at which principal, interest, the annual premium and $400 a month of property tax and homeowners insurance fit the 31% and 43% limits, with the upfront premium financed. Rounded to the nearest $1,000. Your own taxes, rate and county loan limit will move it. Other debts only lower the price once they pass 12% of gross income, the gap between the two limits, which is why the two columns meet at $100,000.
Work out your own FHA budget: the home affordability calculator opens with FHA chosen, and with FHA it includes both premiums in the price. Then enter that price here to see the full payment and how long the insurance lasts.
Where to go next
If you have served, compare the VA mortgage calculator: a VA loan has no monthly mortgage insurance. To size the deposit itself, use the down payment calculator; for a conventional loan with tax and insurance, the mortgage calculator. When the balance reaches 80% of the price, the refinance break-even calculator shows whether refinancing out of FHA insurance pays.
Assumptions and formula
total loan = (price − down payment) × 1.0175 monthly MIP = average scheduled balance for the year × annual rate ÷ 12 ÷ 1.0175 when the upfront premium is financed
- 1.0175
- the base loan plus the 1.75% upfront premium, when it is financed; HUD also divides the monthly premium by it, so no annual premium is charged on the upfront premium
- annual rate
- from HUD’s table below, by term, base loan amount and loan-to-value
Annual MIP, terms over 15 years
| Base loan amount | Loan-to-value | Annual MIP | How long it lasts |
|---|---|---|---|
| $726,200 or less | 90% or less | 0.50% | 11 years |
| $726,200 or less | over 90% to 95% | 0.50% | life of the loan |
| $726,200 or less | over 95% | 0.55% | life of the loan |
| over $726,200 | 90% or less | 0.70% | 11 years |
| over $726,200 | over 90% to 95% | 0.70% | life of the loan |
| over $726,200 | over 95% | 0.75% | life of the loan |
Annual MIP, terms of 15 years or less
| Base loan amount | Loan-to-value | Annual MIP | How long it lasts |
|---|---|---|---|
| $726,200 or less | 90% or less | 0.15% | 11 years, or the term if shorter |
| $726,200 or less | over 90% | 0.40% | life of the loan |
| over $726,200 | 78% or less | 0.15% | 11 years, or the term if shorter |
| over $726,200 | over 78% to 90% | 0.40% | 11 years, or the term if shorter |
| over $726,200 | over 90% | 0.65% | life of the loan |
FHA minimums and 2026 loan limits
| Rule | Figure |
|---|---|
| Credit score 580 or more | 3.5% down (96.5% loan-to-value) |
| Credit score 500 to 579 | 10% down (90% loan-to-value) |
| Credit score under 500 | not eligible |
| Upfront premium | 1.75% of the base loan |
| 2026 one-unit loan limit, lowest-cost areas | $541,287 |
| 2026 one-unit loan limit, highest-cost areas | $1,249,125 |
Where these figures come from
The premiums, the $726,200 threshold and the 11-year rule are HUD Mortgagee Letter 2023-05, repeated in Appendix 1.0 of HUD Handbook 4000.1. The credit-score minimums are Handbook 4000.1 section II.A.2.b. The loan limits are HUD’s rule of 65% and 150% of the national conforming limit, which FHFA set at $832,750 for 2026. Your county’s FHA limit sits somewhere in that range. The exceptions are Alaska, Hawaii, Guam and the U.S. Virgin Islands, special exception areas where HUD allows higher limits.
What this page assumes
The base loan is the price minus the down payment. FHA adds an upfront premium of 1.75% of the base loan, usually financed into the loan. The annual premium rate comes from HUD’s table by term, loan size and loan-to-value, and it is charged monthly on each year’s average scheduled balance. Where the upfront premium is financed, HUD divides that annual premium by 1.0175 so the annual premium is not charged on the upfront premium as well, which is why financing it does not raise the monthly insurance. With 10% or more down it stops after 11 years; with less, it lasts for the life of the loan. On a 10-year term the premium simply ends with the loan.
Principal and interest use the standard fixed-rate payment formula on the total loan. The refinance point is the first month the scheduled balance falls to 80% of the price, which is where a conventional loan without private mortgage insurance usually becomes possible; the premium still due after that month is what refinancing could avoid, before refinance costs. Home prices are held flat, and the appraised value is taken as the price. If the annual premium has already stopped by the time the balance reaches 80%, no refinance point is shown, because refinancing would avoid nothing. A housing cost left blank is not in the first-month payment, and the result says which ones were left out. This is a planning estimate: HUD’s own premium method rounds at intermediate steps, so a lender’s or HUD’s billed premium can differ from it by a few cents a month.
Worked example
A $300,000 home with $10,500 down (3.5%) leaves a $289,500 base loan. The upfront premium is $5,066.25, so the loan is $294,566.25. At 6.5% over 30 years, principal and interest are $1,861.86 a month. The annual premium is 0.55%, so the first year’s insurance is about $132.02 a month, and because the down payment is under 10% it lasts for the full 30 years, about $31,243 in total. The balance reaches 80% of the price in month 139; refinancing then would avoid about $14,300 of further premiums.
The same $300,000 home at 6.5%, three ways
| Measure | 3.5% down, 30 years | 10% down, 30 years | 3.5% down, 15 years |
|---|---|---|---|
| Down payment | $10,500 | $30,000 | $10,500 |
| Loan with upfront premium | $294,566.25 | $274,725.00 | $294,566.25 |
| Annual MIP rate | 0.55% | 0.50% | 0.40% |
| Principal and interest | $1,861.86 | $1,736.45 | $2,565.99 |
| First month’s MIP | $132.02 | $111.93 | $94.72 |
| MIP lasts | 30 years | 11 years | 15 years |
| Total annual MIP paid | $31,243 | $13,723 | $10,119 |
Putting 10% down instead of 3.5% does two things at once: the premium rate drops, and the premium stops after 11 years instead of running for the life of the loan. On this home that is about $17,500 less in annual premiums. A 15-year term cuts the insurance further but raises the monthly payment by about $700.
Where FHA estimates go wrong
- Leaving out the insurance. A payment worked out on the loan alone understates an FHA payment by the monthly MIP, often $100–$150 a month on a typical home.
- Assuming the premium falls away at 20% equity. That is the rule for conventional private mortgage insurance. FHA’s annual premium follows HUD’s table: with under 10% down it lasts for the life of the loan, and the usual way out is to refinance.
- Using the wrong threshold. HUD’s premium table splits at a base loan of $726,200. Some sites quote $832,750, which is the 2026 conforming loan limit, not HUD’s premium threshold.
- Treating the national limit as your limit. FHA limits are set county by county between $541,287 and $1,249,125 for one unit in 2026. Check your county before relying on a price near the top of that range. Alaska, Hawaii, Guam and the U.S. Virgin Islands are special exception areas with higher limits.
What this calculator leaves out: county loan limits, lender overlays and rate pricing by credit score, income and debt-to-income underwriting, 203(k) and refinance loans, and adjustable rates. Home prices are held flat.
Frequently asked questions
How long do you pay mortgage insurance on an FHA loan?
It depends on your down payment. With 10% or more down, the annual premium stops after 11 years (on a 10-year loan, when the loan ends). With less than 10% down, it lasts for the life of the loan, and the usual way out is refinancing to a conventional loan once you have 20% equity. The 1.75% upfront premium is charged once at closing, usually added to the loan. On a $289,500 FHA loan at 6.5% with 3.5% down, the annual premium starts near $132 a month and totals about $31,243 over 30 years.
Does this tell me whether I qualify for an FHA loan?
No. It checks the loan against FHA program minimums: credit score, down payment and the national loan-limit range. A lender also reviews your income, debts, credit history and the home itself, and your county may have a lower limit.
How much house can I afford with an FHA loan?
Most FHA lenders start from 31% of your gross monthly income for the housing payment and 43% for that payment plus your other debts. At 6.5% over 30 years with 3.5% down, no other debts and $400 a month of tax and insurance, a $75,000 income buys about $231,000 and $100,000 about $329,000, once both FHA premiums are counted. The home affordability calculator, with FHA chosen, works it out for your income and debts.
What is the minimum down payment for an FHA loan?
3.5% of the price with a credit score of 580 or more, and 10% with a score from 500 to 579. Below 500, FHA will not insure the loan. Enter your score and the page flags a down payment below your minimum.
How much is FHA mortgage insurance?
An upfront premium of 1.75% of the base loan, usually added to the loan, plus an annual premium of 0.15% to 0.75% charged monthly. Most 30-year loans under $726,200 pay 0.55% with less than 5% down, and 0.50% with 5% or more.
How do I get rid of FHA mortgage insurance?
With under 10% down it does not cancel, so the usual route is to refinance into a conventional loan once the balance is about 80% of the home’s value. The page gives the month that happens on the original schedule and the premium you would avoid, before refinance costs.
Is an FHA loan cheaper than a conventional loan?
It depends on your rates, your down payment and how long you keep the loan. FHA insurance usually lasts for the life of the loan, while conventional PMI stops at 78% of the home’s original value, so the longer you keep the loan, the more a conventional loan tends to win if its rate is close. Enter a conventional quote and its PMI rate in the comparison fields to see both side by side over the years you expect to keep the loan.
What are the FHA loan limits for 2026?
For a one-unit home, from $541,287 in lower-cost counties to $1,249,125 in the highest-cost counties: 65% and 150% of the $832,750 national conforming limit. Your county’s own limit falls in that range, except in Alaska, Hawaii, Guam and the U.S. Virgin Islands, which HUD treats as special exception areas with higher limits.