FHA Loan Calculator
Estimate your total monthly payment for an FHA-insured loan, including principal, interest, taxes, insurance (PITI), and the required Mortgage Insurance Premium (MIP).
Total Monthly Payment
$4,521.27
| Loan Amount | $490,943.75 |
| Mortgage Payoff Date | Sep. 2056 |
| Total Interest Paid | $652,099.32 |
| Total of All Payments | $1,627,655.57 |
- Annual MIP
- Home Insurance
- Interest
- Other Cost
- Principal
- Property Taxes
Amortization Schedule
| Year | Date | Interest | Principal | Ending Balance |
|---|---|---|---|---|
| 1 | 2026 | $32,841.13 | $5,260.30 | $485,683.45 |
| 2 | 2027 | $32,476.44 | $5,625.00 | $480,058.45 |
| 3 | 2028 | $32,086.46 | $6,014.98 | $474,043.47 |
| 4 | 2029 | $31,669.44 | $6,432.00 | $467,611.47 |
| 5 | 2030 | $31,223.50 | $6,877.93 | $460,733.54 |
| 6 | 2031 | $30,746.66 | $7,354.78 | $453,378.76 |
| 7 | 2032 | $30,236.75 | $7,864.69 | $445,514.07 |
| 8 | 2033 | $29,691.49 | $8,409.95 | $437,104.12 |
| 9 | 2034 | $29,108.43 | $8,993.01 | $428,111.11 |
| 10 | 2035 | $28,484.94 | $9,616.50 | $418,494.62 |
| 11 | 2036 | $27,818.23 | $10,283.21 | $408,211.41 |
| 12 | 2037 | $27,105.29 | $10,996.15 | $397,215.26 |
| 13 | 2038 | $26,342.92 | $11,758.51 | $385,456.75 |
| 14 | 2039 | $25,527.70 | $12,573.73 | $372,883.02 |
| 15 | 2040 | $24,655.97 | $13,445.47 | $359,437.55 |
| 16 | 2041 | $23,723.79 | $14,377.65 | $345,059.90 |
| 17 | 2042 | $22,726.99 | $15,374.45 | $329,685.45 |
| 18 | 2043 | $21,661.07 | $16,440.36 | $313,245.09 |
| 19 | 2044 | $20,521.26 | $17,580.18 | $295,664.91 |
| 20 | 2045 | $19,302.42 | $18,799.01 | $276,865.90 |
| 21 | 2046 | $17,999.08 | $20,102.35 | $256,763.55 |
| 22 | 2047 | $16,605.39 | $21,496.05 | $235,267.50 |
| 23 | 2048 | $15,115.06 | $22,986.37 | $212,281.12 |
| 24 | 2049 | $13,521.41 | $24,580.02 | $187,701.10 |
| 25 | 2050 | $11,817.27 | $26,284.16 | $161,416.94 |
| 26 | 2051 | $9,994.99 | $28,106.45 | $133,310.49 |
| 27 | 2052 | $8,046.37 | $30,055.07 | $103,255.42 |
| 28 | 2053 | $5,962.64 | $32,138.79 | $71,116.63 |
| 29 | 2054 | $3,734.46 | $34,366.98 | $36,749.65 |
| 30 | 2055 | $1,351.79 | $36,749.65 | $0.00 |
How to Use the FHA Loan Calculator
- Enter Home & Loan Details: Start with the home's price, your down payment amount (as a percentage or dollar value), the loan term, and your expected interest rate.
- FHA Specifics: The calculator pre-fills standard FHA MIP rates. The Upfront MIP is typically rolled into the loan, and the Annual MIP is paid monthly. You can adjust these if your lender provides different figures.
- Add Optional Costs: For the most accurate estimate of your total monthly housing payment, include your annual property taxes, home insurance, and any HOA fees.
- Review Your Results: The results panel on the right will instantly update to show your total estimated monthly payment. You can see a detailed breakdown of PITI + MIP, your total loan cost, and a full amortization schedule.
Frequently Asked Questions
What is an FHA loan and who is it for?
An FHA loan is a mortgage insured by the Federal Housing Administration. It is designed to help low-to-moderate-income borrowers who might not qualify for a conventional mortgage due to lower credit scores or a smaller down payment.
What is Mortgage Insurance Premium (MIP)?
MIP is a requirement for all FHA loans. It protects the lender if the borrower defaults. It consists of an Upfront Premium (UFMIP), which is typically rolled into the loan amount, and an Annual Premium that is paid monthly for a specific duration (or the life of the loan).
What are the benefits of an FHA loan?
The primary benefits are a low down payment requirement (as little as 3.5%), more lenient credit score and debt-to-income requirements compared to conventional loans, and competitive interest rates.
Can I ever get rid of FHA MIP?
For most FHA loans issued today with a down payment of less than 10%, the annual MIP is paid for the entire loan term. If you put down 10% or more, it's paid for 11 years. To remove it completely, you typically need to refinance into a conventional loan once you have sufficient equity (usually 20%).