An FHA mortgage calculator estimates the monthly payment on a home loan insured by the Federal Housing Administration. It adds the upfront mortgage insurance premium you enter to the modeled loan balance, then estimates principal and interest plus a separate monthly MIP amount; add property tax, home insurance, and HOA costs for a broader monthly estimate. The result is not an FHA quote or eligibility decision.
It is a payment calculator, not an FHA approval or eligibility check. The mortgage insurance rates are inputs rather than a current program schedule, so use figures from a lender quote or other current loan documents. For general FHA loan and mortgage-insurance information, review the CFPB's FHA loan guide and confirm your exact premiums with the lender.
How to Use the FHA Mortgage Calculator
- Enter the price and down payment: Type the Home Price and the Down Payment as a percentage of the price; FHA allows as little as 3.5%.
- Set the rate and term: Enter the quoted Interest Rate and choose a Loan Term of 15 or 30 years, the only lengths FHA mortgages run.
- Enter the mortgage insurance: Fill in the Annual MIP Rate for your loan case (HUD program schedules set this by loan type and case; the page treats it as an input), and the Upfront MIP Assumption (%), which the calculator adds to the loan balance.
- Optionally add escrow: In the Monthly Escrow (optional) box, enter Property Tax ($/yr), Home Insurance ($/yr), and HOA ($/mo), or leave them blank to exclude.
- Calculate and review: Click Calculate to see the Total Monthly Payment, the split between Principal & Interest, Monthly MIP, tax, insurance, and HOA, plus the base loan, total interest, and total repaid.
Use premium figures from your own lender quote, because the calculator does not apply a current FHA schedule to the rates you enter.
How the payment estimate works
The calculator subtracts the down payment from the home price to get the base loan. It calculates the upfront mortgage insurance premium (MIP) from the percentage entered, adds that premium to the loan balance, and amortizes the resulting balance at the entered interest rate over the selected term.
Base loan = home price - down payment
Financed balance = base loan + (base loan � upfront MIP rate)
For an illustration, enter a $300,000 home price, 3.5% down, a 6.5% rate, and a 30-year term. With 1.75% upfront MIP, 0.55% annual MIP, $3,600 annual property tax, $1,200 annual home insurance, and no HOA, the base loan is $289,500. The upfront MIP is $5,066.25, making the modeled balance $294,566.25. The results are $1,861.86 monthly principal and interest and $132.69 monthly MIP. Including the entered tax and insurance gives a total monthly estimate of $2,394.55. These rates and amounts are example inputs, not a current loan quote.
What financing the upfront MIP costs
Financing the premium means borrowing it, and borrowing has interest on it. On the example above, amortizing the $289,500 base loan alone at 6.5% over 30 years would cost $1,829.84 a month; amortizing the $294,566.25 balance with the premium financed costs $1,861.86 � $32.02 more every month. Across the full 360 payments, financing the premium adds $11,529.08 of repayment, of which $6,462.83 is interest on the $5,066.25 premium itself. Paying the premium in cash at closing, where that is an option, avoids that interest but uses the cash instead.
How the down payment changes the estimate
The down payment moves three numbers at once: the base loan, the upfront premium financed on top of it, and the monthly premium charged on the base loan. Holding the $300,000 price, 6.5% rate, 1.75% upfront premium, 0.55% annual premium, $3,600 tax, and $1,200 insurance constant, the engine returns:
| Down payment | Base loan | Financed balance | Monthly P&I | Monthly MIP | Total monthly |
|---|---|---|---|---|---|
| 3.5% ($10,500) | $289,500.00 | $294,566.25 | $1,861.86 | $132.69 | $2,394.55 |
| 5% ($15,000) | $285,000.00 | $289,987.50 | $1,832.92 | $130.63 | $2,363.55 |
| 10% ($30,000) | $270,000.00 | $274,725.00 | $1,736.45 | $123.75 | $2,260.20 |
Moving from 3.5% to 10% down puts $19,500 more cash into the purchase and lowers the modeled monthly total by $134.35. On cash flow alone, that $19,500 takes about 145 months to come back. The comparison does not stop there, though, because the annual premium's duration depends on the loan-to-value ratio at origination. The 10% case is the one where the premium can eventually end; the 3.5% case is the one where it generally does not. This calculator holds the entered monthly MIP flat for the whole term, so it matches the second case by construction and does not model the first. Enter the premium your lender quotes and treat the monthly figures as a starting point rather than a lifetime cost.
When FHA beats conventional, and when it does not
The 10%-down row is the pivot. At 10% down, FHA's annual MIP generally ends after 11 years, so the comparison against a conventional loan becomes roughly 11 years of MIP against however long that conventional loan would charge private mortgage insurance � a race conventional PMI can win when the balance reaches the cancellation thresholds sooner. Below 10% down, FHA's MIP generally runs for the life of the loan and can only be removed by refinancing, while a conventional loan at a small down payment adds PMI but charges nothing upfront. The honest frame: FHA tends to win when the down payment is small and a conventional loan's credit-based pricing would be harsh; conventional tends to win when the down payment reaches 10% and the loan is likely to be held long enough for one of the two insurances to end. This calculator prices only the FHA side, so run the same price, rate, and term through a conventional quote before deciding.
Upfront MIP and monthly MIP assumptions
Upfront MIP is calculated as a percentage of the base loan and added to the balance used for the principal-and-interest schedule. This models the premium as financed; it is not added to the down payment.
The annual MIP input is converted to a monthly amount using:
Monthly MIP = base loan � annual MIP rate � 12
The calculator uses that amount for every month of the selected term. It does not change the MIP as the balance falls, determine how long MIP applies under a specific FHA loan, or estimate when coverage can end. Check your loan documents for the premium rate and duration that apply to you.
Optional taxes, insurance, and HOA
Enter annual property tax and annual home insurance; each is divided by 12 and added to the monthly estimate. The HOA input is already monthly. If you leave these fields blank, the calculator excludes them, so the result may be lower than the amount you need to budget for housing.
The result combines principal, interest, MIP, and any entered tax, insurance, and HOA. It does not include utilities, maintenance, other insurance, closing costs, or other recurring expenses. The interface labels the result as a PITI total, but the amount can also include MIP and HOA.
What this calculator does not determine
- Current premium rates: Enter the upfront and annual MIP rates that apply to your quote. The form does not look up a current FHA schedule; its upfront MIP field starts at zero.
- Eligibility: The calculator does not evaluate credit history, income, debt-to-income ratio, property eligibility, required funds, or approval.
- County loan limits: It does not compare the loan amount with a local FHA limit.
- MIP duration or cancellation: It applies the entered monthly MIP across the selected term. It does not calculate cancellation rules or a refinance exit.
- Other loan comparisons: It does not compare FHA with conventional financing or estimate private mortgage insurance.
- Total lifetime housing cost: The amortization's total interest and total paid cover the P&I schedule on the balance including upfront MIP. They exclude the separate monthly MIP and optional tax, insurance, and HOA costs.
For a general mortgage payment estimate, use the Mortgage Calculator. To estimate selected settlement costs, see the Closing Cost Calculator. To compare a home price with a monthly budget, use the Home Affordability Calculator.
Enter a purchase price you have in mind and the tool prices the FHA version of it, including the financed upfront MIP and the annual MIP charged monthly on the base loan. If you are deciding how much house you can afford first, work the budget out with the Home Affordability Calculator, then bring the price back here to test it under FHA rules.
Provenance: every dollar figure in this article was computed by replicating the calculator's model (apps/tools/fha-mortgage-calculator/logic.php and the shared whole-cent annuity engine) from the stated inputs, and verified in October 2026.
Last verified: October 2026. Calculator figures are outputs for the inputs entered; they are not live quotes, current rates, or an offer.