FHA loan calculator with MIP included

How an FHA payment is calculated

Your FHA monthly payment combines principal and interest on the base loan plus financed upfront MIP, then adds property taxes, homeowners insurance, annual MIP, and HOA dues.

• 3.5% minimum down payment for qualifying credit
• Upfront MIP financed into the loan balance
• Annual MIP charged monthly based on loan-to-value and term
• Escrowed taxes and insurance included in the monthly total

Who FHA financing fits

FHA loans are designed for buyers with limited down payment funds, shorter credit histories, or higher debt-to-income ratios who still want a fixed, predictable payment.

Compare FHA against other programs

The simulator prices conventional, FHA, VA, and USDA side by side with the same home price and rate assumptions, so you can see the true monthly difference including mortgage insurance.

Frequently asked questions

How much down payment does an FHA loan require?

FHA loans typically require 3.5% down with a qualifying credit score, and 10% down for lower scores.

What is FHA mortgage insurance (MIP)?

FHA loans carry an upfront mortgage insurance premium that is usually financed into the loan, plus an annual premium that is divided into 12 monthly payments.

Does FHA mortgage insurance ever go away?

On most FHA loans with less than 10% down, annual MIP remains for the life of the loan. Many borrowers later refinance into a conventional loan once they have enough equity.

Is an FHA loan better than a conventional loan?

FHA is often more forgiving on credit and debt ratios, while conventional can be cheaper with strong credit and more equity. Compare both programs side by side in the simulator.