FHA Loan Calculator
Enter the home price, your down payment, the term and the interest rate. The calculator adds HUD's 1.75% upfront mortgage insurance premium (UFMIP) to the loan, or treats it as a closing cost if you pay it in cash. It looks up the annual MIP rate in HUD's chart for your term, loan size and loan-to-value, turns it into a monthly amount and adds it to principal and interest. Property tax, homeowners insurance and HOA dues are optional. The result also says whether MIP stops after 11 years or runs for the full term.
How to use the FHA Loan Calculator
- Enter your numbers in the FHA Loan Calculator above.
- Press the Calculate button to see the result.
- To try other numbers, change any value and press the button again.
How the FHA payment is worked out
UFMIP = 1.75% × base loan · · · M = P · r(1 + r)^n / ((1 + r)^n − 1) · · · Monthly MIP = base loan × annual rate / 12
The base loan is the home price minus the down payment. The loan-to-value is the base loan divided by the price, and the upfront MIP is not part of it. The upfront MIP is 1.75% of the base loan. When you finance it, the calculator adds it to the base loan and rounds the sum down to the whole dollar, as HUD requires, so a few cents are paid at closing. P is that mortgage amount, r is the annual interest rate divided by 12 and n is the number of monthly payments. Monthly MIP is the base loan times the annual MIP rate, divided by 12. HUD does not publish a formula for the monthly figure and has lenders follow the loan's amortization schedule, so a lender's quote can differ slightly. Tax and insurance are the yearly amounts divided by 12, and HOA dues go in as entered. Each line is rounded to the cent, and the total monthly payment is their sum.
Worked example
A $350,000 home with the minimum 3.5% down, $12,250, leaves a base loan of $337,750.00. The upfront MIP is $5,910.63. Added to the loan and rounded down, that makes a $343,660 mortgage, with $0.63 paid at closing. The loan-to-value is 96.50%, so HUD's chart sets the annual MIP at 0.55% for the full term, which is $154.80 a month. At 6.5% over 30 years, principal and interest come to $2,172.16 and the total monthly payment is $2,326.96, before tax, insurance and HOA dues. Pay the upfront MIP in cash instead and the mortgage stays at $337,750, principal and interest drop to $2,134.81 and the total to $2,289.61.
HUD's annual MIP chart
Annual MIP rates for FHA purchase loans from Appendix 1.0 of HUD Handbook 4000.1, in force since March 20, 2023. Loan-to-value is the base loan divided by the home price. The calculator reads its rates from this chart.
| Base loan | Loan-to-value | Annual MIP | MIP lasts |
|---|---|---|---|
| $726,200 or less | 90.00% or less | 0.50% | 11 years |
| $726,200 or less | Above 90.00%, up to 95.00% | 0.50% | Full term |
| $726,200 or less | Above 95.00% | 0.55% | Full term |
| Above $726,200 | 90.00% or less | 0.70% | 11 years |
| Above $726,200 | Above 90.00%, up to 95.00% | 0.70% | Full term |
| Above $726,200 | Above 95.00% | 0.75% | Full term |
| Base loan | Loan-to-value | Annual MIP | MIP lasts |
|---|---|---|---|
| $726,200 or less | 90.00% or less | 0.15% | 11 years |
| $726,200 or less | Above 90.00% | 0.40% | Full term |
| Above $726,200 | 78.00% or less | 0.15% | 11 years |
| Above $726,200 | Above 78.00%, up to 90.00% | 0.40% | 11 years |
| Above $726,200 | Above 90.00% | 0.65% | Full term |
Upfront MIP
Every FHA purchase loan carries an upfront MIP of 1.75% of the base loan, whatever the term or down payment. Rates read from hud.gov on October 17, 2026.
Frequently asked questions
What is FHA mortgage insurance (MIP)?
FHA loans carry two premiums. The upfront MIP is 1.75% of the base loan, paid once, either added to the loan or paid in cash at closing. The annual MIP is billed monthly with your mortgage payment, and its rate depends on the term, the size of the base loan and the loan-to-value. A 30-year loan of $726,200 or less with 3.5% down pays 0.55% a year. The calculator shows both premiums, using the rates in HUD Handbook 4000.1.
When does FHA MIP end?
Under HUD's current chart, annual MIP lasts 11 years when the loan-to-value is 90% or less, which means 10% down or more. Above 90% it lasts the full term. Take the $350,000 home with $35,000 down. The base loan is $315,000, the loan-to-value 90.00%, and MIP is 0.50% a year, $131.25 a month. At 6.5% over 30 years with the upfront MIP financed, the payment is $2,157.10 for the first 132 payments and $2,025.85 after that. With 3.5% down, MIP stays for all 360 payments. Loans with FHA case numbers assigned before June 3, 2013 follow older cancellation rules.
What is the minimum down payment on an FHA loan?
HUD requires at least 3.5% of the home's adjusted value, the lower of the price and the appraised value. The calculator uses the price and refuses a smaller down payment, telling you the minimum. Borrowers with a credit score between 500 and 579 are limited to a 90% loan-to-value, so they need 10% down. The calculator does not check credit scores.
Should I finance the upfront MIP or pay it in cash?
Financing keeps the cash out of your closing costs, but you pay interest on the premium for the life of the loan. In the worked example, financing the $5,910.63 premium raises principal and interest from $2,134.81 to $2,172.16, which is $37.35 a month. Over 30 years that adds $7,541.82 in interest. The monthly MIP stays the same either way, because it is based on the base loan.
Does the calculator check FHA loan limits?
No. FHA loan limits depend on the county and the number of units, and HUD publishes them in its FHA mortgage limits lookup. The calculator only uses the national $726,200 line in the MIP chart, which decides the annual rate and is not a loan limit.