FHA Loan Calculator — Calculate Your FHA Mortgage Payment
Free FHA loan calculator with mortgage insurance premium. Calculate monthly payments for FHA loans with as little as 3.5% down payment.
FHA loans are government-backed mortgages designed to help first-time homebuyers and those with lower credit scores achieve homeownership. With a minimum down payment of just 3.5% and credit score requirements as low as 580 FHA loans are significantly more accessible than conventional mortgages. However they require both an upfront mortgage insurance premium (1.75% of loan amount) and annual mortgage insurance premiums (0.55% for most borrowers) which add to your monthly cost.
Calculate Now
Key Information
| Parameter | Details |
|---|---|
| Minimum Down Payment | 3.5% (credit score 580+) |
| Upfront MIP | 1.75% of loan amount |
| Annual MIP | 0.55% of loan amount (most borrowers) |
| FHA Loan Limit (2026) | $498,257 (standard) to $1,149,825 (high-cost) |
Calculate FHA loan payment
Get accurate results instantly — 100% free, no signup required
Use Calculator NowFrequently Asked Questions
Is FHA better than conventional loan?
FHA is better if you have a credit score below 680 or cannot save more than 5% down payment. However if your credit score is above 720 and you have 10%+ down a conventional loan often costs less overall because you can avoid mortgage insurance once you reach 20% equity. FHA mortgage insurance lasts the entire loan life unless you put 10%+ down.
How much is FHA mortgage insurance?
FHA charges two types: an upfront MIP of 1.75% added to your loan balance and an annual MIP of 0.55% paid monthly. On a $300000 FHA loan the upfront MIP is $5250 (added to loan making it $305250) and annual MIP is $1650/year or $137.50/month. For loans with less than 10% down MIP lasts the entire 30-year term.
Can I remove FHA mortgage insurance?
With less than 10% down payment FHA MIP stays for the entire loan term. To remove it you must refinance into a conventional loan once you have 20% equity and a credit score above 620. With 10% or more down FHA MIP drops off after 11 years. Many borrowers plan to refinance to conventional after building equity.
Related Calculators
Last updated: 24 March 2026