FHA Mortgage Payment Calculator
Calculate FHA mortgage payments including mortgage insurance premiums and all fees
About this calculator
The FHA Mortgage Payment Calculator helps you estimate your complete monthly payment for an FHA-insured loan, including principal, interest, mortgage insurance premiums (MIP), property taxes, and homeowners insurance. This comprehensive tool is essential for first-time homebuyers and those with lower down payments to accurately budget for homeownership. Unlike basic mortgage calculators, it includes FHA-specific costs like upfront and annual mortgage insurance premiums, giving you a realistic picture of your total monthly housing expense and helping you determine affordability before applying.
How to use
Enter your home price, down payment amount (minimum 3.5% for FHA), loan term, and current interest rate. Add your estimated property taxes, homeowners insurance, and HOA fees if applicable. The calculator will automatically include FHA mortgage insurance premiums and display your complete monthly payment breakdown, showing principal, interest, insurance, taxes, and total monthly cost.
Frequently asked questions
What is FHA mortgage insurance and how much does it cost?
FHA mortgage insurance includes an upfront premium of 1.75% of the loan amount plus annual premiums ranging from 0.45% to 1.05% depending on loan terms and down payment.
What's the minimum down payment required for an FHA loan?
FHA loans require a minimum down payment of 3.5% for borrowers with credit scores of 580 or higher, and 10% for scores between 500-579.
Can I remove FHA mortgage insurance premiums?
You can remove annual MIP after 11 years if you put down 10% or more, or refinance to a conventional loan when you have 20% equity.