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FHA Loan Calculator
FHA payment with upfront and annual MIP
At least 3.5% with a 580+ credit score.
Monthly payment
$2,747.65
$2,115.98 principal and interest, $156.67 MIP
- Base loan amountLTV 96.5%
- $337,750.00
- Upfront MIP (1.75%)Added to the loan
- $5,910.63
- Total loan amount
- $343,660.63
- Annual MIP rateFor the life of the loan
- 0.55%
- Monthly MIP (first year)
- $156.67
- Property tax
- $350.00
- Home insurance
- $125.00
- Cash at closingDown payment plus UFMIP if not financed; other closing costs extra
- $12,250.00
- Total interest
- $418,091.30
- Total MIP (upfront and annual)
- $42,702.66
MIP rates as of 2026 (HUD Mortgagee Letter 2023-05 schedule): 1.75% upfront; annual 0.55% for a 30-year loan of $337,750 at 96.5% LTV, recalculated each year on the average balance. FHA county loan limits apply.
- Principal and interest$2,116
- MIP$156.67
- Property tax$350.00
- Insurance$125.00
- Balance
- Interest paid
- Principal paid
| Period | Payment | Interest | Principal | Balance |
|---|---|---|---|---|
| Year 1 | $25,391.73 | $21,364.73 | $4,027.00 | $339,633.62 |
| Year 2 | $25,391.73 | $21,105.71 | $4,286.02 | $335,347.60 |
| Year 3 | $25,391.73 | $20,830.02 | $4,561.71 | $330,785.89 |
| Year 4 | $25,391.73 | $20,536.60 | $4,855.13 | $325,930.76 |
| Year 5 | $25,391.73 | $20,224.31 | $5,167.42 | $320,763.35 |
| Year 6 | $25,391.73 | $19,891.94 | $5,499.79 | $315,263.55 |
| Year 7 | $25,391.73 | $19,538.18 | $5,853.55 | $309,410.00 |
| Year 8 | $25,391.73 | $19,161.67 | $6,230.06 | $303,179.94 |
| Year 9 | $25,391.73 | $18,760.94 | $6,630.79 | $296,549.15 |
| Year 10 | $25,391.73 | $18,334.43 | $7,057.30 | $289,491.85 |
| Year 11 | $25,391.73 | $17,880.50 | $7,511.23 | $281,980.62 |
| Year 12 | $25,391.73 | $17,397.36 | $7,994.37 | $273,986.25 |
| Year 13 | $25,391.73 | $16,883.15 | $8,508.58 | $265,477.66 |
| Year 14 | $25,391.73 | $16,335.86 | $9,055.87 | $256,421.79 |
| Year 15 | $25,391.73 | $15,753.37 | $9,638.36 | $246,783.43 |
| Year 16 | $25,391.73 | $15,133.41 | $10,258.32 | $236,525.12 |
| Year 17 | $25,391.73 | $14,473.58 | $10,918.15 | $225,606.96 |
| Year 18 | $25,391.73 | $13,771.30 | $11,620.43 | $213,986.54 |
| Year 19 | $25,391.73 | $13,023.86 | $12,367.87 | $201,618.67 |
| Year 20 | $25,391.73 | $12,228.33 | $13,163.40 | $188,455.27 |
| Year 21 | $25,391.73 | $11,381.64 | $14,010.09 | $174,445.18 |
| Year 22 | $25,391.73 | $10,480.49 | $14,911.24 | $159,533.93 |
| Year 23 | $25,391.73 | $9,521.37 | $15,870.36 | $143,663.57 |
| Year 24 | $25,391.73 | $8,500.56 | $16,891.17 | $126,772.40 |
| Year 25 | $25,391.73 | $7,414.09 | $17,977.64 | $108,794.75 |
| Year 26 | $25,391.73 | $6,257.73 | $19,134.00 | $89,660.75 |
| Year 27 | $25,391.73 | $5,027.00 | $20,364.73 | $69,296.02 |
| Year 28 | $25,391.73 | $3,717.10 | $21,674.63 | $47,621.39 |
| Year 29 | $25,391.73 | $2,322.95 | $23,068.78 | $24,552.61 |
| Year 30 | $25,391.73 | $839.12 | $24,552.61 | $0.00 |
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How the fha loan calculator works
FHA loans charge two kinds of mortgage insurance. The upfront premium (UFMIP) is 1.75% of the base loan and is usually added to the loan. The annual premium (MIP) is a yearly percentage of the average balance, paid monthly.
For terms over 15 years the annual MIP is 0.50% (0.55% above 95% LTV), or 0.70% and 0.75% for base loans over $726,200. For 15 years or less it's 0.15% to 0.40% (up to 0.65% for large loans). With at least 10% down MIP ends after 11 years; with less, it lasts for the life of the loan.
The payment adds principal and interest, MIP, property tax, insurance and HOA dues.
Using and checking your result
Published by JustYourCalculator. Check the units and assumptions above, and compare a known example before relying on the output. Calculations use browser arithmetic and may round displayed values.
This is an educational estimate, not a lender quote, tax filing calculation or investment recommendation. Actual costs depend on current rules, fees and your circumstances. Verify important decisions with official sources and a qualified adviser.
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