Who qualifies for an FHA loan?

FHA loans are available to borrowers with steady income and a credit score of at least 580 for the minimum 3.5% down payment. Lower scores may still qualify with a larger down payment.

Why do FHA loans require mortgage insurance?

FHA mortgage insurance protects lenders if a borrower defaults, allowing the program to offer lower down payments and flexible credit standards.

Can I remove FHA mortgage insurance later?

Generally, FHA mortgage insurance lasts for the life of the loan, unless you refinance to a conventional loan once you have enough equity.

Does the calculator include property taxes or homeowners insurance?

No, this calculator focuses on principal, interest, and required FHA mortgage insurance. Be sure to budget for taxes and insurance separately.

What is UFMIP and how is it paid?

Upfront Mortgage Insurance Premium (UFMIP) is a one-time fee, usually 1.75% of the loan, that’s typically financed into your loan amount and paid over time.

How can I download my results?

You can export your full payment schedule and breakdowns as a PDF or Excel file, or copy the results directly for your records.

FHA Loan Calculator

Estimate FHA loan payments and costs

Inputs

FHA loan (U.S.)

Home Price ($)

Down Payment ($)

FHA allows as low as 3.5% with qualifying credit

APR (%, 0–100)

Term (years, 0.5–50)

Upfront MIP (%, 0–10)

Typically 1.75% of base loan (HUD); financed into loan in this estimate

Annual MIP (%, 0–10)

Varies by LTV and term per HUD; e.g. 0.45–0.55% for many loans

Results

Base loan, UFMIP, P&I, MIP, and total payment

Base Loan

$337,750

UFMIP

$5,911

Total Monthly (first)

$2,330

Total MIP

$37,089

Loan amount (with UFMIP financed): $343,661 · Monthly P&I: $2,172 · First-month MIP: $158

Balance Over Time

Remaining balance by year

Principal, Interest & MIP by Year

All 30 years

Yearly Breakdown

First 15 years. Download full schedule for all 30 years.

Year	Principal	Interest	MIP	Balance
1	$3,841	$22,225	$1,881	$339,819
2	$4,098	$21,968	$1,859	$335,721
3	$4,373	$21,693	$1,836	$331,348
4	$4,666	$21,400	$1,811	$326,682
5	$4,978	$21,088	$1,784	$321,704
6	$5,312	$20,754	$1,756	$316,392
7	$5,667	$20,399	$1,726	$310,725
8	$6,047	$20,019	$1,694	$304,678
9	$6,452	$19,614	$1,660	$298,226
10	$6,884	$19,182	$1,623	$291,342
11	$7,345	$18,721	$1,584	$283,997
12	$7,837	$18,229	$1,542	$276,160
13	$8,362	$17,704	$1,498	$267,798
14	$8,922	$17,144	$1,451	$258,877
15	$9,519	$16,547	$1,400	$249,357

Amortization Schedule

First 15 months. Download full schedule below for all 360 months.

Month	Total Payment	Principal	Interest	MIP	Balance
1	$2,330	$311	$1,861	$158	$343,350
2	$2,330	$312	$1,860	$157	$343,038
3	$2,329	$314	$1,858	$157	$342,724
4	$2,329	$316	$1,856	$157	$342,408
5	$2,329	$317	$1,855	$157	$342,090
6	$2,329	$319	$1,853	$157	$341,771
7	$2,329	$321	$1,851	$157	$341,450
8	$2,329	$323	$1,850	$157	$341,128
9	$2,329	$324	$1,848	$156	$340,803
10	$2,328	$326	$1,846	$156	$340,477
11	$2,328	$328	$1,844	$156	$340,149
12	$2,328	$330	$1,842	$156	$339,819
13	$2,328	$331	$1,841	$156	$339,488
14	$2,328	$333	$1,839	$156	$339,155
15	$2,328	$335	$1,837	$155	$338,820

For educational and estimation purposes only; not financial or legal advice. U.S. context. FHA loans are subject to HUD rules, loan limits, and eligibility. UFMIP and annual MIP rates may vary; this tool uses simplified assumptions. Does not include property taxes or homeowners insurance. Consult a qualified FHA lender for actual terms.

How It Works

Here’s how to use this calculator and what each field means:

Enter Your Home PriceInput the price of the property you wish to buy.
Enter Your Down PaymentThe calculator allows as little as 3.5% down, with qualifying credit. Enter the amount you plan to put down.
Set the Interest RateEnter the mortgage interest rate you expect or have been quoted.
Select the Loan TermChoose how many years you want for your loan (typically 30 years).
Upfront MIP RateEnter the upfront mortgage insurance rate (usually 1.75%). This is a one-time fee added to your loan balance.
Annual MIP RateEnter the annual MIP percentage (often 0.55%, though it can vary). The calculator uses this to estimate your ongoing monthly insurance premiums.

After you click Calculate, the calculator provides:

Base Loan: The amount you borrow, before adding upfront MIP.
UFMIP: The dollar amount of the upfront mortgage insurance premium.
Total Monthly (First): Your estimated first payment, including principal, interest, and MIP.
Total MIP: The projected total mortgage insurance you’ll pay over the loan.
Loan Amount (with UFMIP): The amount you’re actually borrowing after the upfront premium is financed into your loan.
Monthly Principal & Interest (P&I): The amount going toward paying down the loan and interest each month.
First-Month MIP: The initial monthly mortgage insurance payment.

Visualizations and Schedules

Balance Over Time Chart: See how your loan balance declines each year over the life of the loan.
Principal, Interest & MIP by Year Chart: Track how much you pay in each category annually.
Yearly and Monthly Breakdown Tables: Review detailed schedules for the first 15 years and 15 months, or download the full amortization schedule for all 30 years.

Export and Share Features

Copy: Quickly copy your results to share or save.

Export PDF/Excel: Download your full payment schedule and breakdowns in PDF or Excel for easy record-keeping or to discuss with your lender.

Understanding FHA Loans

An FHA loan is a mortgage backed by the Federal Housing Administration, designed to help more people become homeowners with lower down payments and flexible credit requirements. FHA loans are popular among first-time buyers and those with less-than-perfect credit because they allow down payments as low as 3.5% for qualified borrowers.

However, FHA loans require both upfront and ongoing mortgage insurance premiums (MIP) to protect lenders in case of default.

These extra costs can impact your monthly payment and the total amount you pay over the life of the loan. Understanding these details is crucial for anyone considering an FHA mortgage, as it helps you make informed decisions and plan your budget with confidence.

How This Calculator Helps

This FHA Loan Calculator gives you a clear, personalized estimate of what an FHA mortgage will cost, using real input fields you can adjust:

Home Price: The purchase price of the property you want to buy.
Down Payment: The money you plan to put down upfront (as low as 3.5% for qualified buyers).
Interest Rate: The current annual interest rate for your loan.
Loan Term: The number of years you plan to pay off the mortgage (typically 30 years).
Upfront MIP Rate: The percentage charged as a one-time, upfront mortgage insurance premium (usually 1.75% of the base loan amount, added to your loan balance).
Annual MIP Rate: The percentage charged annually for ongoing mortgage insurance (commonly 0.45–0.55% of the loan balance).

By entering your information, you see instant estimates for:

Base loan amount
Upfront MIP (UFMIP)
Total monthly payment (first payment)
Total mortgage insurance paid over the loan
Principal & interest breakdown
Amortization and payment schedules

This helps you visualize the real costs of an FHA loan both monthly and over time so you can make fully informed home-buying decisions.