FHA Loan Calculator

Table of Contents

FHA Loan Calculator

Estimate a U.S. FHA purchase loan with upfront mortgage insurance, ongoing insurance, optional housing costs and extra principal payments.

All amounts are USD. Insurance inputs are editable assumptions, not an eligibility decision or lender quote.

Home price ($)

Down payment (%) Meeting this input minimum does not establish qualification.

Annual interest rate (%) Example rate, not a current market quote.

Loan term

Upfront MIP (%) of base loan

Annual MIP rate (%) Not automatically adjusted. Confirm the rate for your term, base loan and original LTV.

Annual MIP duration Select the duration applicable to your loan; it is not inferred from later equity.

First payment month

Other upfront closing costs ($) Exclude down payment and upfront MIP to avoid double counting. No credits or prior deposits modeled.

Finance upfront MIP into the loan

Monthly MIP is approximated as annual rate ÷ 12 × the opening balance excluding the financed-premium share. Actual FHA billing uses its own annual balance and rounding method; this is not an exact servicing schedule.

Include property tax, insurance and other housing costs

Property tax per year ($)

Home insurance per year ($)

HOA per month ($)

Other housing costs per month ($)

These expenses remain constant in the model and can continue after the loan is paid off.

Add extra principal each month

Your estimate

Repayment schedule

Choose schedule

Period	Principal*	Interest	MIP estimate	Other costs	Total outflow	Balance

*Principal includes extra payments. MIP and housing costs are not loan principal. Annual periods begin with your first payment month.

How this FHA estimate works

The base loan equals home price minus down payment. Upfront mortgage insurance is calculated on that base loan. If financed, it increases the loan balance and the principal-and-interest payment; if paid in cash, it increases the upfront cash estimate.

Two separate mortgage insurance costs

HUD’s Mortgagee Letter 2023-05 sets standard upfront MIP at 1.75% of the base loan, with exceptions, and provides annual premium tables by loan size, term and original loan-to-value ratio. The example annual rate here is 0.55%; it is not appropriate for every loan. Confirm the annual rate and duration before relying on the estimate.

For the standard cases in that letter, original LTV of 90% or less generally uses an 11-year annual-MIP duration; above 90%, it uses the mortgage term. Paying extra does not automatically change the duration selected here, although insurance stops when the modeled loan is repaid.

Why is monthly MIP an estimate?

This tool applies the annual rate monthly to a declining opening balance, excluding the proportion attributable to financed upfront MIP. It does not reproduce FHA’s annual average-balance, billing and rounding procedures. A lender’s insurance schedule may differ. The repayment table labels those premiums as estimates.

What is included in the first-month outflow?

The first loan payment, any extra principal, estimated MIP, and selected monthly housing expenses. Upfront cash is reported separately. The interest rate is fixed and divided by 12; calculations retain precision until display.

Does this confirm FHA eligibility or the local loan limit?

No. It does not assess credit, income, appraisal, property eligibility or county limits. It assumes home price is the value used to compute the displayed original LTV. Use HUD’s limit lookup and your lender to verify your transaction.

How should I read total costs?

Total interest and estimated ongoing MIP cover the modeled repayment period. Financed upfront MIP is part of principal, while cash-paid upfront MIP is included only in upfront cash. Taxes, insurance and other ownership costs may continue after payoff.

Sources: HUD mortgage insurance premium tables · HUD county loan-limit lookup. Source reviewed September 27, 2026. Standard purchase-loan estimate; special programs and refinance rules are not modeled.