FHA loan calculator
Enter the price and down payment, get the payment with mortgage insurance.
The rate, tax and insurance are examples — use your own. County loan limits are not built in: see the FAQ below.
How is FHA mortgage insurance calculated?
There are two premiums. The upfront premium (UFMIP) is 1.75% of the base loan amount — $5,066.25 on a $289,500 base loan — and is either paid at closing or added to the loan. The annual premium (MIP) is a percentage from HUD's table that depends on the loan term, the base loan amount and the loan-to-value ratio (LTV), collected in 12 monthly parts. For a loan of more than 15 years and $726,200 or less it is 0.50% a year at an LTV of 95% or below and 0.55% above 95%, up to the 96.5% maximum. HUD figures each year's premium on the average scheduled balance of that year, leaving out the financed UFMIP, so the monthly amount shrinks a little every year.
How long do I pay FHA mortgage insurance?
It depends on the LTV when the loan starts. On a loan of more than 15 years, an LTV of 90% or less (10% down or more) means 11 years of MIP; a higher LTV means MIP for the whole mortgage term. On loans of 15 years or less it is 11 years at 90% or less and the whole term above 90%. The automatic cancellation at 78% LTV that you may have heard about applies only to loans with case numbers assigned before June 3, 2013 (Handbook 4000.1). The calculator shows how long the premium lasts and what the payment becomes afterward.
What is the minimum down payment on an FHA loan?
With a credit score of 580 or higher the maximum LTV on a purchase is 96.5%, so the minimum is 3.5% of the price (or of the appraised value, if lower). With a score of 500 to 579 the maximum LTV is 90%, so you need at least 10% down (Handbook 4000.1, section II.A.2). The calculator warns you when the down payment you enter is below the minimum for the score you choose.
What are the FHA loan limits?
FHA limits are set by county. For a one-unit home in 2026 (Mortgagee Letter 2025-23) they run from $541,287 in low-cost areas — the “floor” — up to $1,249,125 in high-cost areas — the “ceiling”. Look up your county on HUD's FHA mortgage limits page; the calculator does not store county limits. It warns you when the base loan is above the ceiling, and points you to the lookup when it is above the floor. The limit applies to the base loan, before any financed upfront premium.
Example
A $300,000 home with 3.5% down at 6.5% (an example rate, not a current one) for 30 years: the base loan is $289,500, the upfront premium $5,066.25 is added to the loan for a total of $294,566.25, and principal and interest come to $1,861.86 a month. The LTV is 96.5%, so the annual MIP is 0.55% — $132.02 a month in year 1 and $5.32 in year 30 — and it lasts the whole term: $31,243.92 in all, $36,310.17 with the upfront premium. With 10% down the LTV is 90%: the annual MIP is 0.50% — $111.93 a month in year 1 — and it stops after 11 years, when the payment drops by the last monthly premium, $94.28.
What does this calculator leave out?
Closing costs and lender fees, the interest rate you will actually be offered (you enter it), county loan limits, the rule that FHA rounds the mortgage amount down to a whole dollar, and refinancing. The amounts are estimates — your Loan Estimate shows the real figures.
FHA annual MIP rates
Mortgagee Letter 2023-05, for case numbers endorsed on or after March 20, 2023; the same table is Appendix 1.0 of Handbook 4000.1. The upfront premium is 1.75% of the base loan amount on all of them.
| Term · base loan | LTV | Annual MIP · lasts |
|---|---|---|
| More than 15 years · $726,200 or less | 90% or less | 0.50% · 11 years |
| More than 15 years · $726,200 or less | over 90% to 95% | 0.50% · whole term |
| More than 15 years · $726,200 or less | over 95% | 0.55% · whole term |
| More than 15 years · over $726,200 | 90% or less | 0.70% · 11 years |
| More than 15 years · over $726,200 | over 90% to 95% | 0.70% · whole term |
| More than 15 years · over $726,200 | over 95% | 0.75% · whole term |
| 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% · whole term |
| 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% · whole term |
Estimates for planning only — not financial advice. Your lender's figures decide. Sources: HUD Mortgagee Letter 2023-05 and FHA Single Family Housing Policy Handbook 4000.1 (Appendix 1.0; sections II.A.2 and III.A.1.k; revision of August 12, 2026), HUD's "Monthly (Periodic) Mortgage Insurance Premium Calculation", 12 U.S.C. 1709(c)(2), Mortgagee Letter 2025-23 (2026 loan limits); tables checked September 30, 2026. Look up your county's limit on HUD's FHA mortgage limits page. Compare with a conventional loan in the mortgage calculator, check your loan-to-value or plan the down payment. How we check our calculators.