FHA loan calculator — monthly payment, MIP & PITI
Use this free FHA loan calculator to estimate principal & interest (P&I), upfront MIP, and annual FHA MIP from home price and down payment (default 3.5%). Add property tax, insurance, and HOA for PITI, pick MIP for the life of the loan or 11 years, then review total interest, payoff date, extra payments, and a full amortization schedule.
How to use this FHA loan calculator
- Enter home price and down payment (percent or dollars).
- Set upfront MIP financed and annual FHA MIP rate; choose MIP duration.
- Enter interest rate and term (30 years = 360 payments).
- Optional: property tax, insurance, HOA, loan start date, biweekly payments, extras.
- Copy link, CSV, or print the schedule; compare with the mortgage calculator.
Example: $400,000 home, 3.5% down, 6.5% for 30 years
With 3.5% down, the base loan is $386,000. Financed upfront MIP at 1.75% adds about $6,755 to the loan amount. On a 30-year fixed schedule, P&I is roughly in the mid‑$2,000s before MIP and escrow—use the tool above for your exact rate. Annual MIP at 0.55% of balance adds hundreds per month in early years in this estimate.
Upfront MIP vs annual FHA MIP
Upfront MIP (UFMIP) is usually a one-time charge, often rolled into the loan. Annual MIP is spread into the monthly payment as a percent of the outstanding balance in this calculator. HUD rules change; use results for planning, not as a binding loan estimate.
Example: $300,000 home, 3.5% down, 7% for 30 years
Base loan about $289,500 plus financed UFMIP raises the balance. P&I and monthly MIP together are often near $2,400–$2,600 before tax and insurance—use the calculator for your rate. Shorter terms (15-year FHA) cut total interest but raise the payment.
FHA P&I payment formula
M = P × r × (1 + r)n ÷ ((1 + r)n − 1)
P is the loan amount including financed upfront MIP. Annual MIP in this tool is estimated separately on the balance each month. Lender rounding may differ.
Frequently asked questions
What is an FHA loan?
FHA-insured financing for U.S. primary homes when you meet lender and program rules. Limits and fees vary by county and loan size.
How much is FHA down payment?
Often 3.5% for eligible borrowers; adjust down payment in the form to see loan amount and payment.
What is upfront FHA MIP?
A one-time premium, often financed. Enter the percent your lender quotes; default is 1.75% of base loan.
How long does FHA MIP last?
Select life of loan or 11 years (132 payments) for a simplified annual MIP estimate. Actual removal depends on loan terms and HUD rules.
FHA loan vs conventional mortgage?
Try the same home price on our mortgage calculator with 20% down and PMI, or compare VA loan calculator if you qualify.
Can I share my FHA scenario?
Use copy link in the calculator to share home price, down payment, MIP, rate, and term in the URL.