Government-Backed Mortgage
FHA Loan
Calculator
Min Down
3.5%
2026 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.
2026 FHA loan key figures
| Figure | Amount |
|---|---|
| Minimum down payment (credit score 580+) | 3.5% of purchase price |
| Minimum down payment (score 500–579) | 10% of purchase price |
| Upfront MIP | 1.75% of loan amount (can be rolled into loan) |
| Annual MIP (<10% down, 30-year loan) | 0.55% of loan balance/year |
| MIP duration if <10% down | Life of loan |
| MIP duration if ≥10% down | 11 years only |
| 2026 baseline loan limit | $524,225 (higher in designated high-cost counties) |
Worked example
| Purchase price | $300,000 |
| Down payment (3.5%) | $10,500 |
| Base loan amount | $289,500 |
| Upfront MIP (1.75%, rolled in) | $5,066 → total loan $294,566 |
| Monthly P&I at 6.5% for 30 years | approx. $1,862/month |
| Monthly MIP (0.55% annually) | approx. $133/month |
| Total monthly payment (P&I + MIP) | approx. $1,995/month |
Figures exclude property tax, homeowner’s insurance, and HOA fees. MIP rate of 0.55% applies to loans ≤$726,200 with <10% down on a 30-year term. Exact rates vary by lender and loan term.
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 2026?
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.