FHA Loan Calculator – Estimate Mortgage Payments
Estimate FHA loan payments including mortgage insurance premiums.
About the FHA Loan Calculator
What is the FHA Loan Calculator?
An FHA loan calculator estimates payments on a Federal Housing Administration loan, including the upfront and annual mortgage insurance premiums that FHA loans require.
Why use this calculator?
FHA loans are popular with first-time buyers because they allow a low 3.5% down payment and more flexible credit requirements. The trade-off is mortgage insurance.
How to use it
- Enter the home price and your down payment (at least 3.5%).
- Enter the interest rate and term.
- Set the upfront and annual mortgage insurance rates.
- See the total monthly payment including insurance.
Formula
Financed = loan + upfront MIP; monthly = P&I + (loan × annual MIP ÷ 12)
FHA mortgage insurance often lasts the life of the loan unless you refinance into a conventional loan.
Frequently Asked Questions
Why is FHA mortgage insurance permanent?
For most FHA loans with less than 10% down, the annual MIP lasts the entire term. Putting at least 10% down can let it end after 11 years.
Can I remove FHA mortgage insurance?
The usual route is to refinance into a conventional loan once you have enough equity, which drops the MIP entirely.
What is included in a monthly mortgage payment?
Most payments combine principal, interest, property taxes and homeowners insurance (often called PITI). Some loans also include private mortgage insurance (PMI).
What is PMI and when can I drop it?
Private mortgage insurance is usually required when your down payment is under 20%. You can typically request removal once you reach 20% equity.
Fixed versus adjustable rate — which is better?
A fixed rate keeps the same interest rate for the whole term, giving predictable payments. An adjustable rate starts lower but can rise after the initial period.
How much house can I afford?
A common guideline is that housing costs stay below 28% of gross monthly income and total debt below 36%, though lenders and budgets vary.
What is the difference between pre-qualification and pre-approval?
Pre-qualification is a quick estimate based on self-reported data. Pre-approval is a verified commitment after a lender reviews your finances.
Is this calculator free to use?
Yes. Every calculator on this site is completely free, with no hidden fees, no subscriptions and no limits on how many times you can use it.
How accurate are the results?
We use standard, widely accepted formulas and calculate in your browser using double-precision arithmetic. Results are rounded for readability, so treat them as reliable estimates rather than a guarantee. Real-world factors can vary the true figure.
Can I add this calculator to my own website?
Yes. Open this calculator page and use the "Add to your website" box in the sidebar to copy a ready-made iframe snippet, then paste it into any HTML page.