FHA Mortgage Calculator
Estimate your FHA loan payment with up-front and monthly mortgage insurance, using HUD’s current MIP rates.
- Base loan
- Up-front MIP (financed)
- Total loan
- Principal and interest
- Monthly MIP
- Taxes and insurance
- Base LTV
- MIP Lasts
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| Scenario | Price | Down | Rate | Payment | Remove |
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How FHA Mortgage Payments Work
FHA loans are insured by the Federal Housing Administration, which lets lenders accept as little as 3.5% down. In exchange you pay mortgage insurance premium (MIP) two ways: an up-front premium, usually added to the loan, and an annual premium paid monthly.
Worked Example
Annual MIP (Cases Assigned On or After March 20, 2023)
| Term | Base Loan | LTV | Annual MIP | How Long |
|---|---|---|---|---|
| Over 15 years | $726,200 or less | 90% or less | 0.50% | 11 years |
| Over 15 years | $726,200 or less | Over 90% to 95% | 0.50% | Life of loan |
| Over 15 years | $726,200 or less | Over 95% | 0.55% | Life of loan |
| Over 15 years | Over $726,200 | 90% or less | 0.70% | 11 years |
| Over 15 years | Over $726,200 | Over 90% to 95% | 0.70% | Life of loan |
| Over 15 years | Over $726,200 | Over 95% | 0.75% | Life of loan |
| 15 years or less | $726,200 or less | 90% or less | 0.15% | 11 years |
| 15 years or less | $726,200 or less | Over 90% | 0.40% | Life of loan |
| 15 years or less | Over $726,200 | 78% or less | 0.15% | 11 years |
| 15 years or less | Over $726,200 | Over 78% to 90% | 0.40% | 11 years |
| 15 years or less | Over $726,200 | Over 90% | 0.65% | Life of loan |
From HUD Mortgagee Letter 2023-05. Up-front MIP is 1.75% of the base loan amount. LTV here is the base loan divided by the price or appraised value.
Tips
FHA loan limits vary by county and change every year; check HUD's FHA Mortgage Limits lookup. HUD figures annual MIP on each year's average scheduled balance, so actual MIP falls slightly each year; this page shows the first-year amount. To drop life-of-loan MIP, most borrowers refinance into a conventional loan once they have 20% equity.