Government-Backed Mortgage
FHA Loan
Calculator
Min Down
3.5%
2025 Limit
$498k
Calculate your FHA loan monthly payment including both upfront and annual mortgage insurance premium (MIP). Enter the home price, your down payment and interest rate to see the full cost breakdown with amortization schedule. Includes 2025 FHA loan limits and credit score requirements.
Loan Details
Total Monthly Payment (P&I + MIP)
$0
P&I Payment
$0
Monthly MIP
$0
Down Payment
3.5%
Base Loan
$0
Upfront MIP (1.75%)
$0
Total Loan (incl MIP)
$0
Total Interest
$0
Total MIP Paid
$0
LTV
0%
How the FHA loan calculator works
Enter the home purchase price, your down payment and the interest rate. The calculator adds the 1.75% upfront Mortgage Insurance Premium (UFMIP) to your base loan amount — this is how FHA loans work in practice, the UFMIP is financed into the mortgage. It then calculates your monthly principal and interest payment on the total loan, plus the monthly annual MIP (0.55% of the base loan divided by 12).
FHA loans are government-backed mortgages designed for first-time homebuyers and borrowers with lower credit scores. The key advantage is the 3.5% minimum down payment (compared to 5-20% for conventional loans), but the trade-off is mandatory mortgage insurance for the life of the loan if you put down less than 10%.
The calculator alerts you if your down payment is below the minimum for your credit score tier, or if the purchase price exceeds your area's FHA loan limit. For conventional mortgage comparisons, use our US mortgage calculator or home affordability calculator.
Frequently asked questions
What is the minimum down payment for an FHA loan?
3.5% if your credit score is 580 or above. 10% if your score is 500-579. On a $300,000 home, that's $10,500 with good credit or $30,000 with lower credit.
What is FHA mortgage insurance premium (MIP)?
FHA loans require upfront MIP of 1.75% (financed into the loan) and annual MIP of 0.55% paid monthly. On a $290,000 loan, the upfront MIP is $5,075 and monthly MIP is about $133. With less than 10% down, MIP lasts for the life of the loan.
What are the FHA loan limits for 2025?
The 2025 floor limit is $498,257 for most counties. In high-cost areas, the ceiling is $1,149,825. Your limit depends on your county.