FHA Loan Calculator — Estimate Your FHA Mortgage Payment
Calculate FHA loan payments including mortgage insurance premiums. Find out your monthly payment with just 3.5% down payment for first time home buyers in 2026.
FHA loans backed by the Federal Housing Administration are one of the best options for first time home buyers in the United States. With a minimum down payment of just 3.5% and credit score requirements as low as 580 FHA loans make homeownership accessible to millions who cannot qualify for conventional mortgages. However FHA loans come with mandatory mortgage insurance premiums both upfront and annual which increases your total monthly payment. Our calculator includes all these costs so you know exactly what you will pay.
Calculate Now
Key Information
| Parameter | Details |
|---|---|
| Minimum Down Payment | 3.5% with 580+ credit score |
| Upfront MIP | 1.75% of loan amount |
| Annual MIP | 0.55% of loan amount |
| 2026 FHA Loan Limit (most areas) | $524225 |
Calculate your FHA payment
Get accurate results instantly — 100% free, no signup required
Use Calculator NowFrequently Asked Questions
What credit score do I need for an FHA loan?
FHA loans require a minimum credit score of 580 for the 3.5% down payment option. Borrowers with scores between 500-579 can still qualify but must put 10% down. Most FHA lenders prefer scores of 620 or higher and better credit scores help you secure lower interest rates even within FHA guidelines.
How long do I pay FHA mortgage insurance?
If you put less than 10% down on an FHA loan you must pay the annual mortgage insurance premium for the entire life of the loan. If you put 10% or more down the MIP drops off after 11 years. This is why many FHA borrowers refinance to a conventional loan once they have 20% equity to eliminate mortgage insurance entirely.
Can I use an FHA loan for a second home?
No FHA loans are only available for primary residences that you will live in as your main home. You cannot use FHA financing for investment properties vacation homes or second homes. However if you currently have an FHA loan and want to move you can get another FHA loan for your new primary residence under certain conditions.
Related Calculators
Last updated: 24 March 2026