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FHA Loan Calculator

FHA loans let you buy with as little as 3.5% down and a lower credit score than many conventional loans, in exchange for mortgage insurance premiums. See the full monthly payment with those premiums included.
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Where is the home?

Enter a ZIP code to use that area's property tax rate and loan limit.

Loan type
$50k$1M$2M

Loan term

Starts at the Freddie Mac weekly national average as of October 1, 2026: 7.28% (30-year), 6.60% (15-year). Your rate depends on your credit, loan and lender, so enter your quoted rate. Rate history

Taxes, insurance and HOA

Placeholder: 1% of price per year. Enter a ZIP for the local rate.

Placeholder estimate. Get a quote for your home.

Enter 0 if none.

Pay off sooner (optional extra payments)

Try an example

Illustrative scenarios to see how price and down payment change the payment. Tap one to load it.

Estimated monthly payment

$0/month

0%is principal
& interest
  • Principal & interest$0
  • Property tax$0
  • Home insurance$0
  • HOA dues$0
  • Mortgage insurance (PMI)$0
Total interest over the loan
$0
Paid off

Compare loan terms

Monthly payment and total interest for 15, 20 and 30 year terms at the same rate
TermMonthlyTotal interest

Same price, down payment and rate. Real rates are usually lower for shorter terms.

Loan balance over time

Year 0
First five years of the loan
YearPrincipalInterestBalance

Amortization schedule

YearPrincipal paidInterest paidBalanceTotal principal paid
Annual totals. Download the month-by-month schedule as CSV.

Monthly payment

$0 /mo

See breakdown

How FHA loan costs work

FHA loans are insured by the Federal Housing Administration and made by approved lenders. Borrowers pay two kinds of mortgage insurance premium (MIP). The upfront premium is 1.75% of the base loan amount and is usually added to the loan. The annual premium is paid monthly.

For loans with terms over 15 years and a base loan up to $726,200, the annual premium is 0.50% when the loan-to-value ratio is 95% or less and 0.55% above 95%; larger loans pay 0.70% or 0.75%. With a loan-to-value ratio of 90% or less, the annual premium lasts 11 years, and otherwise for the life of the loan. These figures come from HUD Mortgagee Letter 2023-05 (loans endorsed on or after March 20, 2023), and we model them in the calculator. Confirm current rates with your lender.

Who FHA loans suit

Buyers with smaller down payments, limited savings or credit scores that make a conventional loan expensive. The minimum down payment is 3.5% with a credit score of 580 or higher. Compare against a conventional loan with PMI: with a high credit score and 5% or more down, conventional can cost less per month, and its PMI can be cancelled later.

  • Minimum 3.5% down with a 580+ credit score.
  • Debt-to-income limits are commonly around 31% for housing and 43% in total, with flexibility for some borrowers.
  • The home must be your primary residence and meet FHA property standards.
  • FHA loan limits vary by county and are separate from conventional limits.

Frequently asked questions

Does FHA mortgage insurance ever go away?

If you put at least 10% down, the annual premium ends after 11 years. With less than 10% down it generally lasts for the life of the loan, so many borrowers later refinance into a conventional loan once they have enough equity.

Is an FHA loan better than conventional with PMI?

It depends on your credit score and down payment. FHA can be cheaper with a lower score or small down payment. With strong credit and 5% or more down, conventional often costs less. Compare both with this tool.

Can I use an FHA loan for a second home or investment property?

No. FHA loans are for a primary residence you will live in.

Related calculators

PMIEstimate private mortgage insurance for your down payment, see when you can drop it at 80% and when it ends automatically at 78%, and how much more down avoids it.VA loanEstimate a VA loan payment including the funding fee, taxes and insurance. See the effect of first use, repeat use, and down payment, with no monthly mortgage insurance.Mortgage calculatorFull monthly payment with taxes, insurance, PMI and loan types.

Estimates for education and planning only. TotalMonthly is not a lender or advisor; confirm figures with a licensed professional. See the methodology and disclaimer.