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Mortgage Calculators

FHA Loan Calculator

Use this calculator to determine your FHA loan amount and how much cash needed for to complete the home purchase..

Inputs
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Estimates only. Adjust any value to recalculate instantly.

Results
FHA monthly payment $1,994.55 includes $132.69 monthly MIP
Base loan amount $289,500
Upfront MIP (financed) $5,066 1.75% of loan
Principal & interest $1,861.86
Monthly MIP $132.69
FHA payment breakdown
FHA payment breakdown Principal & interest: $1.9kMonthly MIP: $133
  • Principal & interest $1.9k
  • Monthly MIP $133

FHA loans need as little as 3.5% down, but mortgage insurance applies: 1.75% upfront (added to the loan) plus about 0.55% a year. With under 10% down, MIP usually lasts the life of the loan — refinancing to a conventional loan later can remove it.

Yearly amortization (principal & interest)View table
YearPrincipalInterestBalance
1$3,292$19,050$291,274
2$3,513$18,829$287,761
3$3,748$18,594$284,013
4$3,999$18,343$280,013
5$4,267$18,075$275,746
6$4,553$17,789$271,194
7$4,858$17,485$266,336
8$5,183$17,159$261,153
9$5,530$16,812$255,622
10$5,901$16,442$249,722
11$6,296$16,047$243,426
12$6,717$15,625$236,709
13$7,167$15,175$229,541
14$7,647$14,695$221,894
15$8,159$14,183$213,735
16$8,706$13,636$205,029
17$9,289$13,053$195,740
18$9,911$12,431$185,829
19$10,575$11,768$175,254
20$11,283$11,059$163,971
21$12,039$10,304$151,932
22$12,845$9,497$139,088
23$13,705$8,637$125,382
24$14,623$7,719$110,759
25$15,602$6,740$95,157
26$16,647$5,695$78,510
27$17,762$4,580$60,748
28$18,952$3,391$41,796
29$20,221$2,121$21,575
30$21,575$767$0

How the fha loan calculator works

It adds the FHA upfront mortgage insurance premium (1.75% of the loan) to the financed amount, amortizes it at your rate, and adds the annual MIP (about 0.55%) as a monthly charge to show the full FHA payment.

Worked example

Worked example: with home price of $300,000, down payment of 3.50% and interest rate of 6.50%, the fha loan calculator shows fha monthly payment of $1,994.55.

Base loan amount
$289,500
Upfront MIP (financed)
$5,066
Principal & interest
$1,861.86
Monthly MIP
$132.69

The formula

Loan = base × (1 + 1.75% upfront MIP). Payment = principal & interest on that loan + (base × 0.55% ÷ 12) monthly MIP.

Results are estimates for educational purposes and are not financial advice. Confirm exact figures with your lender, plan administrator or advisor.

Frequently asked

Questions about the fha loan calculator

What is an FHA loan?

A government-backed mortgage with low down-payment and credit requirements, popular with first-time buyers. In exchange it requires mortgage insurance premiums (MIP).

How much down payment does FHA require?

As little as 3.5% with qualifying credit. The trade-off is mortgage insurance, both an upfront premium and an ongoing monthly one.

Does FHA mortgage insurance ever go away?

With less than 10% down, MIP lasts the life of the loan. Many borrowers refinance into a conventional loan once they have 20% equity to drop it.

Is the FHA Loan Calculator free to use?

Yes. Every calculator on FinCalculators is completely free, with no sign-up, login or paywall. You can run as many scenarios as you like.

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