How to use the FHA Loan Calculator
The FHA loan calculator estimates payments including the upfront and annual mortgage insurance premiums.
Open the FHA Loan Calculator →
What you need to enter
- Home price ($)
- Down payment (%)
- Rate (%)
- Term (years)
- Property tax ($ / year)
- Insurance ($ / year)
The formula
Loan = price − down payment + upfront premium (1.75% of base loan). Monthly insurance ≈ 0.55% of base loan ÷ 12, plus principal and interest.
Worked example
Using the default values in the calculator:
- Home price ($): 300000
- Down payment (%): 3.5
- Rate (%): 6.25
- Term (years): 30
- Property tax ($ / year): 3600
- Insurance ($ / year): 1200
| Total monthly payment | $2,346.38 |
| Principal & interest | $1,813.70 |
| Monthly mortgage insurance (0.55%) | $132.69 |
| Upfront MIP financed (1.75%) | $5,066.25 |
Tips for better results
- FHA allows low down payments, but insurance adds cost.
- Compare with conventional loans.
Common mistakes to avoid
- Forgetting mortgage insurance.
- Assuming the rate is the same for all borrowers.
Please note: Calculators and guides give general estimates, not financial, tax or investment advice. Real offers depend on your lender, location and personal situation. See our Disclaimer.