FHA Loan Calculator
Estimate the monthly payment for an FHA loan including upfront and annual Mortgage Insurance Premium (MIP).
Inputs
About FHA Loan Calculator
When FHA makes sense
Lower down payment (3.5% vs 5-20%), credit scores from 580, more lenient debt-to-income. Best for first-time buyers with limited savings or imperfect credit.
When does FHA MIP end?
For loans with under 10% down — which is most FHA loans — annual MIP lasts the life of the loan. It is a calendar rule, not an equity rule, so paying the balance down never cancels it the way conventional PMI cancels at 78% of the purchase price. The only exit is refinancing into a conventional loan once you hold 20% equity. Put 10% or more down and MIP stops after 11 years instead. This page applies whichever rule fits your inputs, shows the month MIP ends — or says plainly that it never does — and totals the MIP you will actually pay.
How is the annual MIP rate set?
HUD's current schedule charges 0.55% of the loan per year above 90% LTV and 0.50% at or below it, and this page follows that schedule automatically from your down payment. Type into the rate box or the dollar box to override it with your lender's exact figure. The 1.75% upfront premium is separate: charged once at closing and rolled into the loan, so it earns interest for the whole term.
FHA loan limits
Vary by county. 2024 floor is $498,257 single-family in low-cost areas, ceiling $1,149,825 in high-cost areas. Check HUD.gov for your area.