US FHA Loan Calculator

Calculate monthly FHA loan payments including upfront and annual mortgage insurance premiums. Compare FHA to conventional financing to see which makes more sense for your down payment.

Overview

FHA loans are backed by the Federal Housing Administration and allow down payments as low as 3.5% for borrowers with credit scores of 580 or above. In exchange for the low down payment requirement, FHA loans carry two types of mortgage insurance: an upfront MIP of 1.75% of the loan amount (typically rolled into the loan) and an annual MIP ranging from 0.15% to 0.75% depending on loan term and LTV ratio, paid monthly for the life of the loan on most FHA loans. This calculator computes your down payment amount, loan amount including the upfront MIP, monthly principal and interest, monthly MIP, and total MIP paid over the full loan term, alongside property tax, insurance, and HOA.

How to use this calculator

Enter the home purchase price.
Enter your down payment as a percentage (minimum 3.5% for FHA).
Enter the current FHA loan interest rate.
Select the loan term (15 or 30 years).
Enter annual property tax, homeowners insurance, and monthly HOA fees.
Click Calculate to see your monthly breakdown including MIP costs and total interest.

Example calculations

Example 1: Basic Calculation

A typical scenario using default values

{
  "home_price": 300000,
  "down_payment_percent": 3.5,
  "interest_rate": 6.5,
  "loan_term": 30,
  "property_tax_annual": 3600,
  "homeowners_insurance_annual": 1200,
  "hoa_fees_monthly": 0
}

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