Government-Backed Mortgage Engine

FHA Loan Calculator

Estimate full monthly FHA payments including principal, interest, upfront 1.75% UFMIP, annual monthly MIP, taxes, and homeowners insurance.

FHA Mortgage ParametersStep 1 of 2

Home Purchase Price ($)

Down Payment (% — Min 3.5%)

Interest Rate (% APR)

Loan Term

Annual Property Taxes ($/yr)

Annual Homeowners Insurance ($/yr)

Monthly HOA Dues ($/mo)

Finance 1.75% UFMIP into loan balance

Total Monthly Housing Payment

$2,957.08 /mo

Full PITI + Monthly FHA MIP

Principal & Interest

$2,297.35

Monthly FHA MIP

$168.07

Down Payment (3.5%):$13,300

Base Loan Amount:$366,700

Upfront MIP (1.75%):$6,417.25

Total Financed Balance:$373,117.25

Property Tax + Ins.:$491.67/mo

Total Lifetime Interest:$453,927.7

FHA Mortgage Insurance Guidance

Putting down 5% or more lowers your annual MIP from 0.55% to 0.50%, saving you hundreds of dollars every year on your monthly mortgage payments.

FHA Loan Formulas & Underwriting Calculations

FHA loans feature a distinct two-part mortgage insurance requirement: an upfront payment added to the loan balance, followed by an annual premium divided into 12 monthly escrow installments.

1. Upfront Mortgage Insurance Premium (UFMIP)

Base Loan Amount = Purchase Price - Cash Down Payment

UFMIP = Base Loan Amount × 1.75%

Total Loan Balance = Base Loan Amount + UFMIP (if financed)

2. Monthly Annual MIP Calculation

Annual MIP Rate = 0.55% (if Down Payment < 5.0%) or 0.50% (if Down Payment ≥ 5.0%)

Monthly MIP Payment = (Base Loan Amount × Annual MIP Rate) ÷ 12

Frequently Asked Questions

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