FHA Loan Calculator
Calculate your FHA mortgage payment with detailed amortization schedule
Your FHA Loan Results
Loan Amount (w/ Upfront MIP)
$0
Monthly P&I
$0
Monthly FHA MIP
$0
Monthly Property Tax
$0
Monthly Insurance
$0
Total Monthly Payment
$0
Amortization Schedule
Our free FHA Loan Calculator helps you estimate your complete monthly mortgage payment — including principal, interest, FHA mortgage insurance premiums (MIP), property taxes, and homeowners insurance — all in one place. Adjust any input to instantly see how different home prices, down payments, or loan terms affect your payment.
How to Use This Calculator
1
Enter your home purchase price and down payment amount.
2
Enter your interest rate and select your loan term — 15, 20, or 30 years.
3
Enter your annual property tax and homeowners insurance for a complete monthly cost estimate.
4
Enter your FHA MIP rate — the default is 0.55% which applies to most standard FHA loans.
5
Click Calculate to see your full payment breakdown and complete amortization schedule — monthly or yearly.
FHA Loan vs Conventional Loan — Quick Comparison
| Feature | FHA Loan | Conventional Loan |
|---|---|---|
| Minimum Down Payment | 3.5% (score 580+) | 3% to 20% |
| Minimum Credit Score | 500 to 580 | 620+ |
| Mortgage Insurance | Required — life of loan if <10% down | Removable at 20% equity |
| DTI Ratio Limit | Up to 43% to 50% | Up to 36% to 43% |
| Best For | First time buyers, lower credit scores | Higher credit scores, larger down payments |
Frequently Asked Questions
The minimum down payment is 3.5% of the home purchase price for borrowers with a credit score of 580 or higher. If your credit score is between 500 and 579 a minimum of 10% down payment is required. On a $300,000 home that means as little as $10,500 upfront at 3.5%.
FHA loans require two types of mortgage insurance. The upfront MIP is 1.75% of the base loan amount — paid at closing or rolled into the loan. The annual MIP ranges from 0.45% to 1.05% of the loan amount per year divided into monthly payments. This calculator includes both for a complete and accurate payment estimate.
If your down payment is less than 10% you must pay FHA mortgage insurance for the entire life of the loan. If your down payment is 10% or more MIP is required for 11 years. One option to eliminate MIP earlier is to refinance into a conventional loan once you have built at least 20% equity in your home.
The FHA minimum credit score is 500. Scores between 500 and 579 require a 10% down payment. Scores of 580 or higher qualify for the 3.5% minimum down payment. Individual lenders may set higher minimums — many require 620 or above — so it is worth shopping multiple FHA approved lenders.
Want to Learn Everything About FHA Loans?
Read our complete guide — what an FHA loan is, requirements, MIP explained, and tips before you apply.