Free tool
FHA loan calculator
Enter a price, down payment and rate to see the estimated monthly FHA payment with upfront and annual mortgage insurance (MIP), tax, insurance and HOA, then print or save a one-page handout. Everything stays in your browser — nothing you type is sent or stored.
Like quick, simple tools? Kadapt turns listing photos into short video reels.
How the FHA payment is worked out
The base loan is the price less the down payment. The upfront mortgage insurance premium (1.75% by default) is added to it, giving the total loan. Principal and interest come from the standard amortization formula. The approximate monthly MIP is the original base loan times the entered annual rate, divided by 12. This is a payment snapshot: it does not model yearly MIP changes from the average outstanding balance. Property tax, insurance and HOA dues are added as entered.
The entered MIP rate stays unchanged when you edit down payment or term. Use the lender’s rate for your loan. HUD’s premium calculation explains the average-balance method; its worked examples use historic rates. HUD Mortgagee Letter 2023-05 describes the 2023 rate changes. Sources checked October 8, 2026; confirm current rates with your lender.
Using it with first-time buyers
- Run 3.5% down against 10% down to show how the payment and the length of MIP change.
- Compare with a conventional loan on the mortgage payment calculator, where PMI can end.
- Use the listing’s tax figure and a real insurance quote where you can.
- Send them to a licensed lender for a Loan Estimate: the sheet is for the conversation, not the decision.
Eligible veteran? Try the VA loan calculator. Next steps: the home affordability calculator, closing cost estimator, down payment savings calculator and the first-time home buyer checklist. More in the free tools for real estate agents.
Common questions
What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration and made by an approved lender. It allows a down payment as low as 3.5% with a qualifying credit score, which is why it is popular with first-time buyers. In exchange, borrowers pay FHA mortgage insurance premiums (MIP).
How does FHA mortgage insurance (MIP) work?
There are two parts: an upfront premium, currently 1.75% of the base loan, which is usually added to the loan, and an annual premium charged monthly, which for most 30-year loans is about 0.5% to 0.55% of the loan balance a year depending on the loan size and down payment. With less than 10% down the annual premium generally lasts for the life of the loan; with 10% or more it generally lasts 11 years. Rates change, so confirm current HUD figures with the lender.
How is the monthly payment worked out?
The base loan is the price less the down payment, and the upfront premium is financed into the total loan. Principal and interest use the standard fixed-rate formula. This calculator approximates monthly MIP as the original base loan times the entered annual rate divided by 12; it does not reproduce HUD’s annual average-balance calculation or a changing MIP schedule. Tax, insurance and HOA are added as entered.
Is this a loan offer or a quote?
No. It is an estimate built from the figures you enter, not a pre-approval, Loan Estimate or advice. Rates, MIP rates, loan limits and credit requirements vary. Ask a licensed lender.
Does the calculator save what I enter?
No. Amounts, names and contact details stay in your browser and are not sent to Kadapt, stored, or used in analytics. The only thing counted is that someone pressed the print or image button.