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FHA Loan Calculator

FHA loans require as little as 3.5% down (with credit score ≥ 580) and always require Mortgage Insurance Premiums (MIP).

Home Price ($)

Down Payment

Loan Term

Interest Rate (%)

Upfront FHA MIP (%)

Standard: 1.75% of base loan

Annual FHA MIP (%)

Typically 0.55–1.05%

MIP Duration

Property Tax ($/yr)

Home Insurance ($/yr)

HOA Fee ($/yr)

Total Monthly Payment (PITI + MIP)

$2,492.15

Principal & Interest

$2,009.46

Monthly MIP

$132.69

Property Tax

$250.00

Insurance + HOA

$100.00

Down Payment (3.5%)

$10,500

Upfront MIP (financed)

$5,066

LTV Ratio

96.5%

Total MIP Paid

$47,768

FHA advantage — Lower credit score requirements (580+), lower down payment (3.5%), more lenient DTI limits.
FHA disadvantage — Mandatory MIP for the life of the loan (if down < 10%). Conventional PMI can be removed at 80% LTV.
2024 FHA Loan Limits — $498,257 for most areas; $1,149,825 in high-cost areas.

FHA mortgage with upfront and annual MIP, 3.5% down payment, and full monthly breakdown.