Quick answer
An FHA loan adds an upfront mortgage insurance premium to the base loan, and the payment includes annual MIP. A $300,000 home with 3.5% down at 6.5% for 30 years has a base loan of $289,500, a financed loan of $294,566.25 (with 1.75% upfront MIP), a principal-and-interest payment of $1,994.55 and monthly MIP of $132.69.
Enter the home price, down payment, rate, term and the MIP rates. The calculator returns the payment components and loan amount.
Related tools: Loan Calculator: Estimate your monthly loan payment, total interest and total cost. Refinance Calculator: Monthly savings and break-even time from refinancing. Auto Loan Calculator: Monthly car payment after down payment and trade-in.
How to use the FHA Loan Calculator
- Enter home price ($) (above 0).
- Enter down payment (%) (between 0 and 99).
- Enter interest rate (%) (between 0 and 100).
- Enter term (years) (between 0 and 50).
- Enter upfront MIP (financed) (%) (between 0 and 10).
- Enter annual MIP (%) (between 0 and 5).
- Press Calculate to see the result, and use Reset to start again.
| Input | What to enter | Allowed values |
|---|---|---|
| Home price | A number, in $ | > 0 |
| Down payment | A number, in % | ≥ 0, ≤ 99 |
| Interest rate | A number, in % | ≥ 0, ≤ 100 |
| Term | A number, in years | > 0, ≤ 50 |
| Upfront MIP (financed) | A number, in % | ≥ 0, ≤ 10 |
| Annual MIP | A number, in % | ≥ 0, ≤ 5 |
Formula and method
Formula
loan = base × (1 + upfront ÷ 100); payment = amortizing payment on loan + base × annual MIP ÷ 12
IEEE-754 double precision; money shown to cents, rates to 4 decimals. Results are estimates, not financial advice.
Premium rates are inputs because they depend on loan size, term and date; the annual premium is applied to the base loan as an approximation.
Worked examples
These examples are verified: each one is an automated test case that the live calculator must reproduce exactly.
Example 1
Inputs: Home price = 300000; Down payment = 3.5; Interest rate = 6.5; Term = 30; Upfront MIP (financed) = 1.75; Annual MIP = 0.55.
| Result | Value |
|---|---|
| Monthly payment (P&I + MIP) | $1,994.55 |
| Loan amount (incl. upfront MIP) | $294,566.25 |
| Monthly MIP | $132.69 |
Example 2
Inputs: Home price = 200000; Down payment = 5; Interest rate = 7; Term = 15; Upfront MIP (financed) = 2; Annual MIP = 0.5.
| Result | Value |
|---|---|
| Monthly payment (P&I + MIP) | $1,821.10 |
| Loan amount (incl. upfront MIP) | $193,800.00 |
| Monthly MIP | $79.17 |
The first line is the headline result (monthly payment (P&I + MIP)). Below it the fHA Loan Calculator lists loan amount (incl. upfront MIP) and monthly MIP, which describe the same case from other angles. IEEE-754 double precision; money shown to cents, rates to 4 decimals. Results are estimates, not financial advice.
The pieces
Base loan = $300,000 − $10,500 = $289,500. Upfront MIP = 1.75% × 289,500 = $5,066.25, which is financed. Annual MIP of 0.55% on the base loan is $1,592 a year, or $132.69 a month.
What is approximated
Annual MIP is approximated on the base loan; real MIP is recalculated on the declining balance and varies with the loan size and down payment. Taxes and insurance are not included. FHA loans are insured by the government and accept lower credit scores.
How the result changes with home price
Holding every other input at the first worked example, this table changes only home price. It shows how sensitive the answer is to that one value; each row was produced by running this calculator.
| Home price | Monthly payment (P&I + MIP) | Loan amount (incl. upfront MIP) | Monthly MIP |
|---|---|---|---|
| 150000 | $997.27 | $147,283.13 | $66.34 |
| 300000 | $1,994.55 | $294,566.25 | $132.69 |
| 600000 | $3,989.09 | $589,132.50 | $265.38 |
| 1200000 | $7,978.19 | $1,178,265.00 | $530.75 |
What happens with invalid input
These messages are produced by the calculator itself, so you know what to fix.
- Down payment: entering "100" shows "Down payment must be at most 99." beside that field and no result.
- Home price: entering "0" shows "Home price must be greater than 0." beside that field and no result.
Choosing between the FHA Loan Calculator and similar calculators
Each row shows what a related calculator on this site asks for and what it returns, so you can pick the one that matches your question.
| Calculator | You enter | It returns |
|---|---|---|
| [Loan Calculator](/finance/loan-calculator/) | loan amount, interest rate and term | Monthly payment |
| [Refinance Calculator](/finance/refinance-calculator/) | current balance, current rate and current remaining term | Monthly savings |
| [Auto Loan Calculator](/finance/auto-loan-calculator/) | vehicle price, down payment and interest rate | Monthly payment |
| [Loan Comparison Calculator](/finance/loan-comparison-calculator/) | loan 1 amount, loan 1 rate and loan 1 term | Lower total interest |
| [Mortgage Calculator](/real-estate/mortgage-calculator/) | home price, down payment and interest rate | Total monthly payment |
Background: personal finance estimates
Financial calculators project from the numbers you give them. Long-range tools depend on guesses about returns and tax rates that are unlikely to hold exactly, payoff tools assume a fixed payment and rate, and tax or salary results depend on the tax year, filing status and country. Official calculators say their output is for reference only.
For decisions that matter, use conservative inputs and check the figures against your lender, plan documents or a qualified adviser.
Assumptions and limitations
- Annual MIP is approximated on the base loan
Results are estimates for planning, not financial advice. Lender terms, fees, taxes and rounding rules can change real figures, so confirm important numbers with your lender or a licensed adviser.
If a required value is empty, not a number, or outside its allowed range, the form marks that field with a message and shows no result instead of a misleading number. The automated checks deliberately try invalid entries for down payment and home price to confirm this.
Frequently asked questions
What down payment does FHA require?
As little as 3.5% with a qualifying credit score.
Does MIP ever end?
It depends on the down payment and the loan date.
Is FHA better than conventional?
It depends on your credit and down payment.
What does the FHA Loan Calculator calculate?
Monthly payment with upfront and annual mortgage insurance premiums you enter. It returns Monthly payment (P&I + MIP), Loan amount (incl. upfront MIP) and Monthly MIP.
What formula does the FHA Loan Calculator use?
loan = base × (1 + upfront ÷ 100); payment = amortizing payment on loan + base × annual MIP ÷ 12. Premium rates are inputs because they depend on loan size, term and date; the annual premium is applied to the base loan as an approximation.
What do I need to enter in the fHA Loan Calculator?
You enter Home price ($), Down payment (%), Interest rate (%), Term (years), Upfront MIP (financed) (%) and Annual MIP (%).
How is the result rounded or limited?
IEEE-754 double precision; money shown to cents, rates to 4 decimals. Results are estimates, not financial advice. Annual MIP is approximated on the base loan.
What is an example of a fHA Loan result?
With home price 300000, down payment 3.5, interest rate 6.5, term 30 and upfront MIP (financed) 1.75, the monthly payment (P&I + MIP) is $1,994.55.
Can I rely on this calculator for a decision?
Results are estimates for planning, not financial advice. Lender terms, fees, taxes and rounding rules can change real figures, so confirm important numbers with your lender or a licensed adviser. For this calculator in particular: Annual MIP is approximated on the base loan.
Related calculators
- Loan Calculator — Estimate your monthly loan payment, total interest and total cost.
- Refinance Calculator — Monthly savings and break-even time from refinancing.
- Auto Loan Calculator — Monthly car payment after down payment and trade-in.
- Loan Comparison Calculator — Compare the payment and total interest of two loans.
- Mortgage Calculator — Monthly mortgage payment with property tax, insurance and HOA.
- House Affordability Calculator — Estimate the most expensive home your income supports.
Sources
- Standard time-value-of-money relations (e.g. Brealey, Myers & Allen, Principles of Corporate Finance)
Content last reviewed 2026-11-04. Formulas and worked examples are checked by automated tests against independently computed values.