An FHA mortgage is a home loan insured by the Federal Housing Administration. It’s designed to help first-time and repeat buyers who want a low down payment and flexible credit guidelines. FHA loans allow as little as 3.5% down (with qualifying credit), and include upfront and annual mortgage insurance premiums (MIP) that protect the lender.
Purchase price – the expected price of the home. You can also try our Mortgage Loan Calculator for a general estimate.
Down payment – enter a dollar amount or percentage (e.g., 3.5%). If you’re considering refinancing, check our Refinance Calculator to compare savings.
Loan term & rate – choose 30-year or 15-year and your estimated interest rate. For side-by-side insights, see our Conventional Mortgage Calculator.
Location – optional, helps estimate property taxes and check typical FHA limits.
Taxes & insurance – include monthly estimates to see your full payment (PITI).
Principal & Interest (P&I)
Annual MIP (monthly portion)
Estimated Taxes & Insurance
Total Monthly Payment
Note: FHA loans also include an Upfront Mortgage Insurance Premium (UFMIP), commonly financed into the loan amount. Our calculator adds UFMIP to the base loan if you select “finance UFMIP.”
UFMIP (Upfront MIP): Paid at closing or financed into the loan. Learn more with our Mortgage Loan Calculator.
Annual MIP: Charged yearly and paid monthly; amount depends on down payment, loan term, and loan size.
When does MIP end? On most FHA loans with <10% down, annual MIP lasts for the full loan term. With ≥10% down, it may end after 11 years. (Confirm current FHA rules with your lender or run numbers in our Refinance Calculator.)
Minimum down payment from 3.5% (with qualifying credit).
More flexible credit and debt-to-income guidelines than many conventional loans.
Gift funds and down payment assistance may be allowed.
Streamline refinance options for future rate drops.
Home price: $350,000
Down payment: 3.5% ($12,250)
Base loan: $337,750
+ UFMIP (financed): increases total loan amount
Rate/term: 30-year fixed at an assumed rate
Your monthly payment would include P&I + annual MIP (monthly) + taxes + homeowners insurance. Actual numbers will depend on current rates, county taxes, insurance, and FHA guidelines at time of application.
FHA sets county-level loan limits that update annually. Your maximum FHA loan amount depends on where you’re buying. You’ll also need to meet FHA’s credit, income, property, and occupancy requirements. For more detailed estimates, visit our Mortgage Loan Calculator.