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FHA Loan Calculator with MIP

Calculate your FHA monthly payment including both upfront and annual mortgage insurance premiums.

Updated June 2026 · Editorial standards

Your details

$
$
%
%
$
Total monthly
$2,517.44
Principal & interest
$1,959.76
Monthly MIP
$132.69
Upfront MIP
$5,066

Your FHA payment is $2,517/month including $132.69 MIP. Upfront MIP of $5,066 is financed into your loan.

Cumulative principal, interest & MIP paid

Total cost breakdown

Loan-to-Value ratio

ExcellentOver limit
Typical96.5% LTV

Your down payment is 3.5% of the home price. FHA requires at least 3.5% down. LTV above 90% means MIP for the full loan life.

By the KalkWise Editorial Team Reviewed for accuracy Updated June 2026

What is the fha loan calculator?

In short

An FHA loan requires a minimum 3.5% down payment (with 580+ credit score) and includes mortgage insurance: a 1.75% upfront MIP added to the loan balance, plus annual MIP of 0.55–1.05% paid monthly.

This calculator computes your full FHA monthly payment including principal, interest, upfront MIP (financed into the loan), annual MIP, property taxes, and homeowner's insurance. It also shows whether a conventional loan would cost less at the same purchase price.

How to use this calculator

  1. 1Enter the home purchase price.
  2. 2Enter your down payment (minimum 3.5% for FHA with 580+ credit score).
  3. 3Enter the interest rate from your lender quote.
  4. 4Enter the loan term (30 years is most common for FHA).
  5. 5Optionally enter property tax rate and annual insurance to see the full PITI payment.

The formula

financed=loan+(loan×1.75%)
total payment=PI+MIP+tax+insurance
The base loan plus 1.75% upfront MIP is amortized at your interest rate. Annual MIP (0.55% for most loans) is divided by 12 and added monthly. Total PITI = P&I + monthly MIP + property tax + homeowner's insurance.
MIP
— Mortgage Insurance Premium — required on all FHA loans
UFMIP
— Upfront MIP (1.75% of base loan, typically financed)
PITI
— Principal, Interest, Taxes, and Insurance — your total monthly housing payment

Worked example

The scenario

gives

The result

Common use cases

  • First-time homebuyers with less than 20% down
  • Buyers with credit scores below 700 who can't qualify for conventional
  • Comparing FHA vs. conventional loan costs
  • Calculating when to refinance out of FHA MIP

Limitations & assumptions

  • MIP rates shown are 2024 standard rates; FHA updates rates periodically
  • Upfront MIP can be paid in cash at closing to reduce the financed amount
  • FHA loan limits vary by county — high-cost areas have higher limits
  • FHA MIP is required for the full loan term if down payment is under 10%

Frequently asked questions

MIP (Mortgage Insurance Premium) is FHA's version of PMI. There's an upfront MIP of 1.75% of the loan amount (usually financed into the loan) and an annual MIP of 0.55–1.05% paid monthly. If your down payment is under 10%, you pay annual MIP for the entire loan life. With 10%+ down, MIP ends after 11 years.

Disclaimer: KalkWise calculators are provided for general informational and educational purposes only and do not constitute financial, investment, tax, or legal advice. Results are estimates based on the figures you enter and the assumptions described above. Actual outcomes will vary. Consult a qualified professional before making financial decisions.