FHA Loan Calculator
Free FHA loan calculator for 2026: the 1.75% upfront MIP, the annual MIP by down payment and term, and the monthly payment with taxes and insurance.
What it does
FHA loans are mortgages insured by the Federal Housing Administration, popular with first-time buyers because they accept 3.5% down with a credit score of 580 or more. In exchange the borrower pays mortgage insurance (MIP): an upfront premium of 1.75% of the loan, usually added to it, and an annual premium paid monthly, from 0.15% to 0.75% depending on the term, the down payment and the loan size. This calculator applies the HUD table in force since March 2023 and charges the annual MIP on the average balance of each year, as HUD does.
How to use it
- Type the home price, your down payment, the interest rate and the term.
- Choose your credit score range, which sets the minimum down payment.
- Add property tax, insurance and HOA fees to see the full monthly payment with MIP.
The arithmetic runs in your browser. Nothing you type is sent anywhere and nothing is stored, so you can use these with real numbers.
Frequently asked questions
How much is FHA mortgage insurance?
The upfront MIP is 1.75% of the base loan. The annual MIP for most 30-year loans is 0.55% with less than 5% down and 0.50% with 5% or more; above the conforming loan limit it is 0.75% or 0.70%. Loans of 15 years or less pay 0.15% to 0.65%.
Does FHA mortgage insurance ever go away?
With 10% or more down it ends after 11 years. With less than 10% down it lasts for the whole loan, so many borrowers refinance into a conventional loan once they have 20% equity to drop it.
What is the minimum down payment?
3.5% with a credit score of 580 or higher, and 10% with a score from 500 to 579. Below 500, FHA loans are not available. The down payment can come from savings or from an allowed gift.
FHA or conventional loan?
FHA helps with a lower credit score or a small down payment. With good credit and 5% or more down, a conventional loan is often cheaper, because its PMI can be cancelled at 20% equity while FHA MIP usually stays.
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HUD — Mortgagee Letter 2023-05 (FHA annual MIP)
FHFA — Conforming loan limits for 2026