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FHA Loan Calculator

Our free FHA loan calculator estimates what your payments could be with an FHA loan. We include key features unique to the FHA loan, including the FHA’s upfront and annual Mortgage Insurance Premiums (MIP), to produce an accurate representation of your purchasing power with an FHA loan.

To learn more about the FHA loan, see the Complete Guide to the FHA Loan Program.

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Estimated based on current trends. Subject to change. Rates can vary.


Property taxes are generally estimated to be 1.2% of the home's value, but may vary based on your location.


Annual homeowners insurance is typically 0.35% of the homes value but can vary based on insurer.

Note: This FHA mortgage calculator provides a broad look at your monthly mortgage payments. To get a personalized quote from a trusted loan specialist get started online.

Estimated Monthly Payment

Your FHA Loan Totals

  • Purchase Price $200,000.00
  • Upfront MIP $2,000.00
  • Amount Financed $202,000.00

Our FHA mortgage calculator includes both the FHA’s upfront and annual mortgage insurance premiums (MIP) in the estimated payment. Based on your selections, the annual MIP is $58.92 per month. The annual MIP is included in the payment above.

Property taxes are generally estimated at 1.2% of the home's value, but vary by borrower. Based on your selection of 1.2%, your estimated property taxes are $200.00. Annual homeowners insurance is estimated at 0.35% of the home's value, but varies by borrower. Your estimated homeowners insurance is $58.92 based on your selection of .35%.

FHA Loan Basics

FHA Mortgage Insurance Premiums (MIP)

MIP is short for Mortgage Insurance Premium. The FHA requires homebuyers using an FHA loan to pay both a one-time upfront MIP and an annual MIP, no matter the loan term or down payment.

The upfront MIP is typically 1.75% of the loan amount and may be financed into the loan, as shown in the FHA loan calculator. However, the annual MIP can be a bit more confusing.

The annual MIP ranges from .40% to .75% of the loan amount and changes depending on loan term and down payment. Our FHA loan calculator updates the annual MIP based on your selections.

Learn more about the FHA's MIPs here →

FHA Loans and Credit

A large advantage of the FHA loan is the lenient credit requirements compared to other mortgage options. FHA loans have a credit score minimum of just 500, but a homebuyer will need at least a 580 to take advantage of the 3.5 percent down payment.

Typically, conventional loans require a score of 660, while USDA loans require a 640 and VA requires a 620 or higher.

Credit score benchmarks for FHA loans will vary lender.

Learn more about FHA loans and credit →

Fixed-Rate vs ARM

Our FHA loan calculator is specifically for fixed-rate FHA loans. However, those interested in adjustable-rate mortgages may also use an FHA-backed program known as a Section 251.

Learn more about Section 251 loans →

FHA Loan Rates

Rates shown in the FHA mortgage calculator are for illustrative purposes only. Rates vary based on many factors. Talk with a home loan specialist for an accurate estimate of the rate you may qualify for.

Learn more about FHA loan rates →

Notice: all figures are estimates and do not represent a final loan amount or approval.

Using the FHA mortgage calculator

An FHA loan is a government-backed conforming loan insured by the Federal Housing Administration. FHA loans have lower credit and down payment requirements for qualified homebuyers. The minimum required down payment for an FHA loan is only 3.5%. The FHA mortgage calculator includes additional costs, including upfront monthly mortgage insurance (MIP) and annual premiums in the estimated monthly payment.

Enter the amounts in the fields above to calculate your FHA mortgage payment and the mortgage calculator will give you your monthly mortgage payment amount.

You can also use our FHA affordability calculator to help determine an affordable monthly payment.

FHA Loan Limits

Be sure to also check your that your loan is within the FHA loan limits. FHA loan limits in 2024 range from $498,257 to $1,149,825, depending on location.

Start Your FHA Loan

After estimating payments with the FHA loan calculator, take the first step towards an FHA loan and speak with an FHA-approved lender to determine if you are eligible. Your lender will assess the purchase location, your financial situation and uncover any red flags that may prevent you from obtaining an FHA-guaranteed loan.

Get started with your FHA loan here.

Check Official FHA Loan Requirements

Get connected with an FHA lender and check your eligibility for a low money down loan.
Start Your Quote →