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FHA Loan Calculator

Calculate your FHA loan monthly payment including upfront MIP, monthly MIP, and full amortization breakdown.

CALCULATOR

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Instant results

FHA Loan Summary

$2,832
Monthly Payment (PITI + MIP)
Loan Amount$343,661
Upfront MIP (1.75%)$5,911
P & I$2,172
Monthly MIP$243
Property Tax$292
Insurance$125
Total Interest$438,320
Total MIP$87,633
Total Cost$1,037,775

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THE NUMORIX GUIDE

How to use the FHA Loan Calculator

Last reviewed September 14, 2026

What this calculator does

The engine converts the down-payment percentage into a dollar amount, subtracts it from home price, and adds upfront mortgage insurance equal to 1.

Formula and method

The engine converts the down-payment percentage into a dollar amount, subtracts it from home price, and adds upfront mortgage insurance equal to 1.75% of the base loan. It selects an annual MIP rate from loan-to-value and the two credit-score choices, then adds principal and interest, property tax, homeowner insurance, HOA, and monthly MIP.

Variables and inputs

Enter home price, down payment percent, credit-score choice of 580+ or 500-579, interest rate, loan term of 15 or 30 years, annual property tax, annual insurance, and annual HOA. Home and cost values are dollars; down payment, rate, and MIP percentages are percentages.

Worked example

For a $350,000 home with 3.5% down, down payment is 350,000 x 0.035 = $12,250 and base loan is $337,750. Upfront MIP is 337,750 x 0.0175 = $5,910.63, so financed loan is about $343,660.63. With LTV above 95% and the 580+ choice, annual MIP is 0.85%, or about 343,660.63 x 0.0085 / 12 = $243.43 per month before tax, insurance, and principal-and-interest are added.

How to interpret the result

The displayed payment is the route's PITI-plus-MIP estimate. A lower down payment can increase both financed principal and mortgage insurance. The credit-score selector changes the MIP branch, but the engine does not reject a down payment below the program minimum; it only calculates a result.

Common mistakes to avoid

Enter down payment as 3.5, not 0.035. Distinguish base loan from the loan after upfront MIP. Do not assume the credit-score choice alone establishes FHA eligibility or the final rate offered by a lender.

Assumptions and limitations

The route uses fixed MIP assumptions and does not model county loan limits, lender pricing, upfront MIP financing choices, annual MIP duration rules, seller credits, closing costs, or eligibility. Confirm current FHA tables and disclosures before relying on the estimate.

Sources and references

COMMON QUESTIONS

Frequently asked questions

What is upfront MIP?

The engine applies 1.75% to the base FHA loan and adds it to the financed loan amount. The resulting principal is then used in the payment calculation.

What does the credit-score selector change?

It selects the route's 580+ or 500-579 branch for minimum-down and annual-MIP assumptions. It is not a full FHA underwriting or eligibility test.

Does the monthly result include property tax?

Yes. The hero payment adds principal and interest, annual tax divided by 12, annual insurance divided by 12, annual HOA divided by 12, and monthly MIP.