Free FHA Loan Calculator - Calculate Your FHA Mortgage
Calculate FHA loan payments including mortgage insurance premium (MIP). See if you qualify for an FHA loan with lower down payment.
Quick Answer
FHA loans require only 3.5% down with 580+ credit score. Monthly payment includes principal, interest, taxes, insurance, and MIP (0.55% annually). Use our calculator to see your FHA payment and compare to conventional loans.
Key Facts about FHA Loan Calculator:
- Minimum down payment: 3.5% with 580+ credit, 10% with 500-579
- MIP upfront: 1.75% of loan amount
- MIP annual: 0.55% for most borrowers
- MIP required for life of loan if down payment under 10%
- Maximum DTI: up to 43%, sometimes higher with compensating factors
- Loan limits vary by county ($472K-$1.089M in 2024)
Why Use Our FHA Loan Calculator?
FHA loan analysis:
Payment Calculator
Calculate full FHA payment with MIP.
MIP Calculator
See upfront and annual MIP costs.
FHA vs Conventional
Compare loan types.
Qualification Check
See if you meet requirements.
Instant Results
Get calculations immediately.
Private
Your data stays secure.
How to FHA Loan Calculator in 3 Easy Steps
Calculate FHA loan:
Enter Loan Details
Input home price, down payment, rate.
Add Costs
Include taxes and insurance.
View Results
See payment with MIP included.
Why Use Our Calculator?
Low down payment options
Includes MIP costs
Compares loan types
First-time buyer friendly
Common Use Cases for FHA Loan Calculator
Perfect for:
Frequently Asked Questions
Everything you need to know about our fha loan calculator
What credit score for FHA loan?
580+ for 3.5% down; 500-579 for 10% down; many lenders want 620+.
580+ for 3.5% down payment, 500-579 for 10% down. Many lenders require 620+ even though FHA allows lower.
What is FHA MIP?
1.75% upfront plus 0.55% annually - required on all FHA loans.
Mortgage Insurance Premium is required on all FHA loans. Upfront MIP is 1.75% at closing. Annual MIP is 0.55% paid monthly for the life of most loans.
FHA or conventional better?
FHA for low down payment/credit; conventional for 20% down and 700+ credit.
FHA better for lower credit/down payment. Conventional better for 20%+ down and 700+ credit (no PMI, lower costs). Our calculator compares both.
Still have questions? Try the tool yourself!
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