FHA Loan Calculator — Monthly Payment & MIP
Estimate your FHA loan monthly payment — including principal, interest, and the required mortgage insurance premium (MIP). Enter the home price, down payment, rate and term to see the full cost breakdown.
%
%
Loan term
%
%
Principal & interest + monthly mortgage insurance premium (MIP)
735,566
total paidPrincipal
39.4%
Total interest
53.5%
UFMIP + MIP
7.2%
- 1
Base loan (price − down payment)
300,000 − 10,500 = 289,500 - 2
UFMIP financed into loan
289,500 × 1.75% = 5,066Upfront mortgage insurance premium rolled into the loan balance. - 3
Financed loan (base + UFMIP)
289,500 + 5,066 = 294,566 - 4
Monthly P&I payment
294,566 × 0.005625 × 7.5332 ÷ (7.5332 − 1) = 1,910.55 - 5
Monthly MIP
289,500 × 0.55% ÷ 12 = 132.69 - 6
Total monthly payment
1,910.55 + 132.69 = 2,043.24
How does this calculator work?
Monthly FHA payment = P&I on (base loan + UFMIP) + monthly MIP (annual MIP rate ÷ 12 × base loan). For 2025, UFMIP is 1.75% and annual MIP is 0.55% for most 30-year loans with LTV > 95%. MIP typically continues for the life of the loan if your down payment is below 10%. MIP rates are editable 2025 HUD estimates.
Formula
How this is calculated
FHA loans are insured by the Federal Housing Administration and allow down payments as low as 3.5% for borrowers with a credit score of 580 or higher (10% for scores 500–579). In exchange for this flexibility, FHA requires two mortgage insurance premiums: an upfront MIP (UFMIP) of 1.75% of the base loan — typically rolled into the loan — and an annual MIP paid monthly. The 2025 annual MIP for most 30-year loans is 0.55% of the base loan balance if LTV exceeds 95%, or 0.50% if LTV is 90–95%. Both figures are editable in this calculator to reflect your actual loan terms.
The monthly principal-and-interest payment is calculated on the financed loan (base loan + UFMIP) using the standard amortisation formula M = L × r(1+r)^n / ((1+r)^n − 1), where L is the loan amount, r is the monthly rate, and n is the total number of monthly payments. The monthly MIP is calculated separately on the base loan and added on top. MIP on most FHA loans with 30-year terms and LTV > 10% continues for the life of the loan (unlike conventional PMI, which cancels at 78% LTV).
The donut chart shows how your total payments split across principal repaid, interest, and insurance costs (UFMIP + lifetime MIP). The balance curve shows the remaining loan balance year by year over the full term. All MIP rates are 2025 HUD values — confirm with your lender, as they are subject to change.
Frequently asked questions
For loans originated from June 2013 onward with a term greater than 15 years and a down payment below 10%, annual MIP applies for the life of the loan. If your down payment is 10% or more, MIP cancels after 11 years. This is different from conventional loans, where PMI cancels once LTV reaches 78%.
Yes — the standard practice is to finance the 1.75% UFMIP into the loan, meaning you do not pay it out of pocket at closing. This increases your loan balance and slightly raises the monthly P&I payment, which is how this calculator models it by default.
FHA sets county-level loan limits annually. For 2025 the baseline (floor) limit is $524,225 for a single-family home in most US counties, rising to $1,209,750 in high-cost areas. This calculator does not enforce loan limits — check HUD's website for the exact limit in your county.
Also known as
TG we-Calculate Editorial Team. (2026). FHA Loan Calculator — Monthly Payment & MIP [Online calculator]. TG we-Calculate. https://we-calculate.com/calculator/fha-loan-calculator
TG we-Calculate Editorial Team. "FHA Loan Calculator — Monthly Payment & MIP." TG we-Calculate. 2026. https://we-calculate.com/calculator/fha-loan-calculator.
TG we-Calculate Editorial Team, "FHA Loan Calculator — Monthly Payment & MIP," TG we-Calculate, 2026. [Online]. Available: https://we-calculate.com/calculator/fha-loan-calculator
@misc{wecalculate_fha_loan_calculator, title = {FHA Loan Calculator — Monthly Payment & MIP}, author = {{TG we-Calculate Editorial Team}}, howpublished = {\url{https://we-calculate.com/calculator/fha-loan-calculator}}, year = {2026}, note = {TG we-Calculate} }
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