FHA Loan Calculator

Calculate monthly payments, upfront and annual mortgage insurance premiums (MIP), and total costs for FHA-insured home loans. Compare FHA vs. conventional financing side-by-side.

Free to useNo sign-up requiredUpdated Feb 2026

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⚡ Quick Examples

First-Time Buyer Median Home Low Credit 15-Year Loan

🏠 Property & Down Payment

Home Price

Down Payment

Credit Score

📋 Loan Terms

Loan Term

Interest Rate

💰 Additional Costs (optional)

Property Tax (Annual)

Home Insurance (Annual)

HOA Fees (Monthly)

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About FHA Loan Calculator

The FHA Loan Calculator helps you estimate monthly payments, mortgage insurance premiums, and total costs for Federal Housing Administration (FHA) insured home loans. Compare FHA financing versus conventional loans side-by-side to make an informed decision.

What is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration, designed to help borrowers with lower credit scores or smaller down payments qualify for homeownership. FHA loans are popular among first-time homebuyers because they require as little as 3.5% down payment with a credit score of 580 or higher.

FHA Mortgage Insurance Premiums (MIP)

FHA loans require two types of mortgage insurance:

Type	Rate	How It's Paid
Upfront MIP (UFMIP)	1.75% of base loan	Financed into the loan amount
Annual MIP	0.15% – 0.75%	Divided into 12 monthly payments

The annual MIP rate depends on your loan amount, loan-to-value ratio (LTV), and loan term. If your LTV is 90% or less, MIP drops off after 11 years. Otherwise, MIP lasts for the life of the loan.

How to Use This Calculator

Enter the home price — the total purchase price of the property.
Set your down payment — as a percentage or dollar amount (minimum 3.5% for 580+ credit, 10% for 500–579).
Select your credit score range — this determines your minimum down payment.
Choose loan term and interest rate — 15 or 30 years, and your expected mortgage rate.
Add optional costs — property tax, home insurance, and HOA fees for a complete monthly estimate.
Click Calculate to see the full breakdown.

FHA vs. Conventional Loans

Feature	FHA Loan	Conventional Loan
Min. Down Payment	3.5% (580+ credit)	3%–5% (varies by lender)
Min. Credit Score	500 (with 10% down)	620+ typically
Mortgage Insurance	UFMIP + Annual MIP	PMI (drops at 80% LTV)
Loan Limits	FHA limits by county	Conforming limits
Best For	Lower credit, small down payment	Strong credit, 20%+ down

Frequently Asked Questions

What is the minimum down payment for an FHA loan?

With a credit score of 580 or higher, the minimum is 3.5%. With a credit score between 500 and 579, the minimum is 10%. Scores below 500 are not eligible for FHA loans.

How long do I pay FHA mortgage insurance?

If your down payment is 10% or more (LTV ≤ 90%), annual MIP drops off after 11 years. If your down payment is less than 10%, you pay MIP for the entire life of the loan unless you refinance into a conventional mortgage.

Can I remove FHA MIP early?

Unlike conventional PMI, FHA MIP cannot be removed by reaching 80% LTV. The most common way to eliminate it is to refinance into a conventional loan once you have sufficient equity and credit score.

What is the upfront MIP (UFMIP)?

The UFMIP is 1.75% of the base loan amount. It is typically financed into the loan (added to the loan balance) rather than paid out of pocket at closing.

Is FHA better than conventional for first-time buyers?

FHA is often preferable for first-time buyers with limited savings or credit scores below 700, due to lower down payment requirements and more flexible qualification. However, conventional loans may save you money long-term if you can avoid mortgage insurance with a 20% down payment.

Additional Resources

Reference this content, page, or tool as:

"FHA Loan Calculator" at https://MiniWebtool.com/fha-loan-calculator/ from MiniWebtool, https://MiniWebtool.com/

by miniwebtool team. Updated: Feb 27, 2026

Developer API available: Run this tool from your app, automation, or agent with one JSON HTTP request. View API docs