{"id":67311,"date":"2026-10-21T09:48:25","date_gmt":"2026-10-21T06:48:25","guid":{"rendered":"https:\/\/wpcalc.com\/en\/?p=67311"},"modified":"2026-10-21T09:48:25","modified_gmt":"2026-10-21T06:48:25","slug":"fha-loan-calculator-payment-with-mip","status":"publish","type":"post","link":"https:\/\/wpcalc.com\/en\/finance\/fha-loan-calculator-payment-with-mip\/","title":{"rendered":"FHA Loan Calculator \u2013 Payment with MIP"},"content":{"rendered":"<section class=\"not-prose calculator-box\" aria-labelledby=\"calculator-title\"><div class=\"flex items-baseline sm:items-center justify-between gap-2 sm:gap-3\"><div class=\"flex flex-col sm:flex-row sm:items-center gap-2\"><span class=\"icon icon-calculator text-primary-700! text-base! dark:text-primary-300!\" aria-hidden=\"true\"><\/span><h2 id=\"calculator-title\" class=\"text-lg font-display font-bold\">Estimate Your FHA Monthly Payment, Including Mortgage Insurance<\/h2><\/div><div class=\"calcdash-favorite group\">\n  <button type=\"button\" class=\"favorite\" id=\"favorite\" data-favorite-id=\"67311\" data-favorite-title=\"FHA Loan\" data-favorite-url=\"https:\/\/wpcalc.com\/en\/finance\/fha-loan-calculator-payment-with-mip\/\" data-favorite-excerpt=\"Estimate the full monthly payment on an FHA loan, including upfront and annual mortgage insurance premiums (MIP), property tax, insurance, and HOA dues. Enter the home price, down payment, rate, and term.\" aria-label=\"Add to Favorites\" data-favorite-icon=\"icon icon-loan\">\n    <span class=\"icon icon-shape-star-empty\" aria-hidden=\"true\"><\/span>\n  <\/button>\n  <div class=\"calcdash-favorite__tip\" aria-hidden=\"true\">\n   <span class=\"favorite-tooltip\" id=\"favorite-tooltip\"><\/span>\n  <\/div>\n  <span class=\"sr-only\" role=\"status\" id=\"favorite-status\"><\/span>\n<\/div><\/div><form action=\"https:\/\/wpcalc.com\/en\/finance\/fha-loan-calculator-payment-with-mip\/\" method=\"POST\" class=\"calculator\" id=\"calculator-67311\" data-post=\"67311\"><fieldset class=\"fieldset-input is-2\"><legend class=\"sr-only\">Input Fields<\/legend><div class=\"field\" id=\"input-1\"><label for=\"field-1\">Home price<\/label><input type=\"text\" name=\"home_price\" id=\"field-1\" aria-describedby=\"calc-unit-1 calc-info-1\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0.01\" value=\"400000\"\/><div class=\"unit\" id=\"calc-unit-1\">$<\/div><small id=\"calc-info-1\">Purchase price of the home (must be within the FHA loan limit for your county).<\/small><\/div><div class=\"field\" id=\"input-2\"><label for=\"field-2\">Down payment<\/label><input type=\"text\" name=\"down_payment\" id=\"field-2\" aria-describedby=\"calc-unit-2 calc-info-2\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" max=\"100\" value=\"3.5\"\/><div class=\"unit\" id=\"calc-unit-2\">%<\/div><small id=\"calc-info-2\">FHA minimum: 3.5% with a credit score of 580+, or 10% with a score of 500\u2013579.<\/small><\/div><div class=\"field is-single\" id=\"input-3\"><label for=\"field-3\">Credit score range<\/label><div class=\"grid grid-cols-1\"><select id=\"field-3\" name=\"credit_score_range\"><option value=\"c580\" selected>580 or higher<\/option><option value=\"c500\">500 \u2013 579<\/option><\/select><svg class=\"pointer-events-none col-start-1 row-start-1 mr-2 size-5 self-center justify-self-end text-gray-500 sm:size-4\" viewBox=\"0 0 16 16\" fill=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\">\n              <path fill-rule=\"evenodd\" d=\"M4.22 6.22a.75.75 0 0 1 1.06 0L8 8.94l2.72-2.72a.75.75 0 1 1 1.06 1.06l-3.25 3.25a.75.75 0 0 1-1.06 0L4.22 7.28a.75.75 0 0 1 0-1.06Z\" clip-rule=\"evenodd\" \/>\n            <\/svg><\/div><\/div><div class=\"field\" id=\"input-4\"><label for=\"field-4\">Interest rate<\/label><input type=\"text\" name=\"interest_rate\" id=\"field-4\" aria-describedby=\"calc-unit-4\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" max=\"100\" value=\"6.5\"\/><div class=\"unit\" id=\"calc-unit-4\">%<\/div><\/div><div class=\"field is-single\" id=\"input-5\"><label for=\"field-5\">Loan term<\/label><div class=\"grid grid-cols-1\"><select id=\"field-5\" name=\"loan_term\"><option value=\"n15\">15 years<\/option><option value=\"n30\" selected>30 years<\/option><\/select><svg class=\"pointer-events-none col-start-1 row-start-1 mr-2 size-5 self-center justify-self-end text-gray-500 sm:size-4\" viewBox=\"0 0 16 16\" fill=\"currentColor\" aria-hidden=\"true\" data-slot=\"icon\">\n              <path fill-rule=\"evenodd\" d=\"M4.22 6.22a.75.75 0 0 1 1.06 0L8 8.94l2.72-2.72a.75.75 0 1 1 1.06 1.06l-3.25 3.25a.75.75 0 0 1-1.06 0L4.22 7.28a.75.75 0 0 1 0-1.06Z\" clip-rule=\"evenodd\" \/>\n            <\/svg><\/div><\/div><div class=\"field\" id=\"input-6\"><label for=\"field-6\">Property tax<\/label><input type=\"text\" name=\"property_tax\" id=\"field-6\" aria-describedby=\"calc-unit-6 calc-info-6\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" max=\"10\" value=\"1.1\"\/><div class=\"unit\" id=\"calc-unit-6\">% per yr<\/div><small id=\"calc-info-6\">Annual property tax as a share of the home price.<\/small><\/div><div class=\"field\" id=\"input-7\"><label for=\"field-7\">Homeowner&#039;s insurance<\/label><input type=\"text\" name=\"homeowners_insurance\" id=\"field-7\" aria-describedby=\"calc-unit-7\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" value=\"1500\"\/><div class=\"unit\" id=\"calc-unit-7\">$ per yr<\/div><\/div><div class=\"field\" id=\"input-8\"><label for=\"field-8\">HOA dues<\/label><input type=\"text\" name=\"hoa_dues\" id=\"field-8\" aria-describedby=\"calc-unit-8\" data-number inputmode=\"decimal\" autocomplete=\"off\" spellcheck=\"false\" min=\"0\" value=\"0\"\/><div class=\"unit\" id=\"calc-unit-8\">$ per mo<\/div><\/div><\/fieldset><div class=\"buttons\"><button type=\"submit\" data-text=\"Re-Calculate\" id=\"calculate-button\" data-post=\"67311\">Calculate<\/button><button type=\"reset\">Reset<\/button><\/div><div class=\"field is-checkbox hidden!\" id=\"field-auto-calc\"><input type=\"checkbox\" id=\"auto-calc\"><label for=\"auto-calc\">Calculate automatically<\/label><small>If enabled, the result will update automatically when you change any value.<\/small><\/div><div class=\"fieldset-result is-hidden\" aria-labelledby=\"result-title\" aria-live=\"polite\" role=\"region\"> <h3 class=\"result-title bg-gradient-to-r from-primary-50 to-gray-50 dark:from-primary-900 dark:to-gray-800\" id=\"result-title\"><span class=\"icon icon-s-pulse\" aria-hidden=\"true\"><\/span> FHA Payment Breakdown<\/h3><div class=\"result-box\"><div class=\"field-result\" id=\"output-1\"><span class=\"field-title\"><span>Base loan amount<\/span><\/span><span class=\"field-value\" id=\"result-1\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-2\"><span class=\"field-title\"><span>Total loan with upfront MIP<\/span><\/span><span class=\"field-value\" id=\"result-2\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-3\"><span class=\"field-title\"><span>Monthly P&amp;I<\/span><\/span><span class=\"field-value\" id=\"result-3\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-4\"><span class=\"field-title\"><span>Monthly MIP<\/span><\/span><span class=\"field-value\" id=\"result-4\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-5\"><span class=\"field-title\"><span>Monthly property tax<\/span><\/span><span class=\"field-value\" id=\"result-5\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-6\"><span class=\"field-title\"><span>Monthly insurance<\/span><\/span><span class=\"field-value\" id=\"result-6\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-7\"><span class=\"field-title\"><span>Monthly HOA dues<\/span><\/span><span class=\"field-value\" id=\"result-7\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result\" id=\"output-8\"><span class=\"field-title\"><span>Total monthly payment<\/span><\/span><span class=\"field-value\" id=\"result-8\" data-unit=\"$\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><div class=\"field-result is-column\" id=\"output-9\"><span class=\"field-title\"><span>Total MIP paid<\/span><\/span><span class=\"field-value\" id=\"result-9\"><\/span><button type=\"button\" class=\"copy-result\" data-tooltip=\"Copy Result\" aria-label=\"Copy Result\"><span class=\"copy-icon icon icon-document-copy\" aria-hidden=\"true\"><\/span><\/button><\/div><\/div><div class=\"result-actions\"><button type=\"button\" class=\"copy-link\"><svg viewBox=\"0 0 20 20\" fill=\"currentColor\" aria-hidden=\"true\"><path d=\"M12.232 4.232a2.5 2.5 0 0 1 3.536 3.536l-1.225 1.224a.75.75 0 0 0 1.061 1.06l1.224-1.224a4 4 0 0 0-5.656-5.656l-3 3a4 4 0 0 0 .225 5.865.75.75 0 0 0 .977-1.138 2.5 2.5 0 0 1-.142-3.667l3-3Z\"\/><path d=\"M11.603 7.963a.75.75 0 0 0-.977 1.138 2.5 2.5 0 0 1 .142 3.667l-3 3a2.5 2.5 0 0 1-3.536-3.536l1.225-1.224a.75.75 0 0 0-1.061-1.06l-1.224 1.224a4 4 0 1 0 5.656 5.656l3-3a4 4 0 0 0-.225-5.865Z\"\/><\/svg><span class=\"copy-link__text\">Copy link to this calculation<\/span><\/button><span class=\"sr-only\" role=\"status\" id=\"copy-link-status\"><\/span><\/div><\/div><a href=\"#respond\" class=\"hidden transition-opacity duration-300 opacity-0 w-50 text-sm justify-center items-center gap-2 px-4 py-2 rounded bg-gray-200 text-gray-700 hover:bg-gray-300\" id=\"leave-comment\"><span class=\"icon icon-comments\" aria-hidden=\"true\"><\/span>Leave a Comment<\/a><\/form><\/section><section id=\"calc-reactions\" class=\"not-prose hidden my-12 bg-gradient-to-r from-primary-50 to-gray-50 border border-indigo-100 rounded-xl px-6 py-4 shadow-sm\" data-post=\"67311\" aria-live=\"polite\" aria-labelledby=\"calc-reactions-title\"><p id=\"calc-reactions-title\" class=\"text-sm text-gray-500 text-center mb-2\">How did this result make you feel?<\/p><div role=\"group\" aria-labelledby=\"calc-reactions-title\" class=\"grid grid-cols-3 sm:flex sm:flex-row sm:justify-around gap-4 sm:items-center sm:flex-wrap\"><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"like\"><span class=\"reaction-count\" data-reaction-count=\"like\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude00 <\/span><span class=\"reaction-description font-medium\">Like <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"helpful\"><span class=\"reaction-count\" data-reaction-count=\"helpful\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\udca1 <\/span><span class=\"reaction-description font-medium\">Helpful <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"confused\"><span class=\"reaction-count\" data-reaction-count=\"confused\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude15 <\/span><span class=\"reaction-description font-medium\">Confused <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"disappointed\"><span class=\"reaction-count\" data-reaction-count=\"disappointed\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\ud83d\ude1e <\/span><span class=\"reaction-description font-medium\">Disappointed <\/span><\/button><button type=\"button\" aria-pressed=\"false\" class=\"reaction-btn flex flex-col items-center gap-1 text-sm text-gray-700 hover:text-primary-600 cursor-pointer transition-transform hover:scale-105\" data-reaction=\"inaccurate\"><span class=\"reaction-count\" data-reaction-count=\"inaccurate\">0<\/span><span class=\"reaction text-3xl\" aria-hidden=\"true\">\u274c <\/span><span class=\"reaction-description font-medium\">Inaccurate <\/span><\/button><\/div><div id=\"reaction-message\" class=\"hidden mt-8 rounded-md border border-primary-100 bg-white\/50 backdrop-blur-sm px-4 py-2 text-sm text-center shadow-sm\"><\/div><\/section><div class=\"calcdash-ad not-prose calcdash-ad--calc_result calcdash-ad--in-article\"><ins class=\"adsbygoogle\" style=\"display:block\" data-ad-client=\"ca-pub-1721569815777345\" data-ad-slot=\"6317458308\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\"><\/ins><script>(adsbygoogle = window.adsbygoogle || []).push({});<\/script><\/div>\n<style id=\"wpcoderpro-inline-1\">.formula-box {\r\n\tborder-bottom: none !important;\r\n}<\/style><section class=\"formula-box\" aria-labelledby=\"formula-title\">\r\n\t<div id=\"formula-title\" class=\"not-prose font-display mb-4\"><span class=\"icon icon-formula\" aria-hidden=\"true\"><\/span><h2>FHA Loan Formula<\/h2><\/div>\r\n\t<figure class=\"not-prose formula\">\r\n\t\t<figcaption class=\"formula-title\">Formula<\/figcaption>\r\n\t\t<div class=\"text-base text-gray-800\" id=\"formula\">\n\\[ L = P \\left(1 - \\frac{d}{100}\\right) \\]\n\\[ U = 0.0175 \\, L, \\qquad T = L + U \\]\n\\[ \\text{P\\&amp;I} = \\frac{T \\cdot i}{1 - (1 + i)^{-12n}}, \\qquad i = \\frac{r}{1200} \\]\n\\[ \\text{MIP}_{mo} = \\frac{T \\cdot a}{1200} \\]\n\\[ \\text{Tax}_{mo} = \\frac{P \\cdot t}{1200}, \\qquad \\text{Ins}_{mo} = \\frac{I}{12} \\]\n\\[ \\text{Payment} = \\text{P\\&amp;I} + \\text{MIP}_{mo} + \\text{Tax}_{mo} + \\text{Ins}_{mo} + \\text{HOA} \\]\n<\/div>\r\n\t<\/figure>\r\n\t<\/p>\n<p><strong>Where:<\/strong><\/p>\n<ul>\n<li>\\(P\\) \u2014 home price ($)<\/li>\n<li>\\(d\\) \u2014 down payment (% of price)<\/li>\n<li>\\(L\\) \u2014 base loan amount ($)<\/li>\n<li>\\(U\\) \u2014 upfront MIP, 1.75% of the base loan, typically financed into the loan ($)<\/li>\n<li>\\(T\\) \u2014 total loan amount including the financed upfront MIP ($)<\/li>\n<li>\\(r\\) \u2014 annual interest rate (%)<\/li>\n<li>\\(i\\) \u2014 monthly interest rate as a decimal<\/li>\n<li>\\(n\\) \u2014 loan term in years (15 or 30)<\/li>\n<li>\\(a\\) \u2014 annual MIP rate (%), which depends on the loan term and loan-to-value ratio<\/li>\n<li>\\(t\\) \u2014 annual property tax rate (% of home price)<\/li>\n<li>\\(I\\) \u2014 annual homeowner's insurance premium ($)<\/li>\n<li>\\(\\text{HOA}\\) \u2014 monthly homeowners association dues ($)<\/li>\n<\/ul>\n<p>The formulas compute the standard amortizing payment on the full loan amount (base loan plus the financed upfront MIP) and add the monthly mortgage insurance, property tax, insurance, and HOA dues to arrive at the total monthly payment.<\/p>\n<p>\r\n<\/section>\n<style id=\"wpcoderpro-inline-459\">.calculation-box {\r\n\tborder-bottom: none !important;\r\n}<\/style><section id=\"calculation\" class=\"calculation-box\" aria-labelledby=\"calculation-title\">\r\n\t<div id=\"calculation-title\" class=\"not-prose font-display\"><span class=\"icon icon-unordered-list\" aria-hidden=\"true\"><\/span><h2>FHA Loan \u2013 Calculation Example<\/h2><\/div>\r\n\r\n<\/p>\n<p><strong>Example:<\/strong> you buy a $400,000 home with the FHA minimum 3.5% down payment (credit score 580+), a 6.5% interest rate on a 30-year term, 1.1% annual property tax, $1,500 per year homeowner's insurance, and no HOA dues.<\/p>\n<p>Base loan amount:<br \/>\n\\[ L = 400{,}000 \\times (1 - 0.035) = 386{,}000 \\]<\/p>\n<p>Upfront MIP (1.75%, financed) and total loan:<br \/>\n\\[ U = 386{,}000 \\times 0.0175 = 6{,}755, \\qquad T = 386{,}000 + 6{,}755 = 392{,}755 \\]<\/p>\n<p>Principal and interest at 6.5% over 30 years:<br \/>\n\\[ \\text{P\\&amp;I} = \\frac{392{,}755 \\times 0.0054167}{1 - (1.0054167)^{-360}} \\approx 2{,}480.53 \\]<\/p>\n<p>Monthly MIP (LTV is 96.5%, so the annual rate is 0.55% for a 30-year loan):<br \/>\n\\[ \\text{MIP}_{mo} = \\frac{392{,}755 \\times 0.55}{1200} \\approx 179.95 \\]<\/p>\n<p>Property tax: \\( 400{,}000 \\times 0.011 \/ 12 = 366.67 \\). Insurance: \\( 1{,}500 \/ 12 = 125.00 \\).<\/p>\n<p><strong>Result:<\/strong> total monthly payment \\( \\approx 2{,}480.53 + 179.95 + 366.67 + 125.00 = \\$3{,}152.15 \\). Because the down payment is under 10%, monthly MIP lasts the life of the loan; total MIP paid over 30 years is roughly \\( 6{,}755 + 179.95 \\times 360 \\approx \\$71{,}536 \\).<\/p>\n<p>\n\r\n<\/section>\n<h2>How to use the calculator<\/h2>\n<ol>\n<li>Enter your <strong>Home price<\/strong> \u2014 the purchase price of the property. Make sure it is within the FHA loan limit for your county.<\/li>\n<li>Enter your <strong>Down payment<\/strong> as a percentage. FHA requires at least 3.5% with a credit score of 580 or higher, or 10% with a score of 500\u2013579.<\/li>\n<li>Select your <strong>Credit score range<\/strong> \u2014 this determines the minimum down payment the calculator will accept.<\/li>\n<li>Enter the quoted <strong>Interest rate<\/strong> in percent (for example, 6.5).<\/li>\n<li>Choose a <strong>Loan term<\/strong>: 15 or 30 years. The term also affects the annual MIP rate.<\/li>\n<li>Enter your <strong>Property tax<\/strong> rate as a percentage of the home price per year, your annual <strong>Homeowner's insurance<\/strong> premium in dollars, and any monthly <strong>HOA dues<\/strong>.<\/li>\n<li>Review the <strong>FHA Payment Breakdown<\/strong>: base loan amount, total loan with the financed upfront MIP, monthly P&amp;I, monthly MIP, taxes, insurance, HOA, and the total monthly payment, plus a table showing total MIP paid over the loan.<\/li>\n<\/ol>\n<h2>What is an FHA loan and what is MIP?<\/h2>\n<p>An FHA loan is a mortgage insured by the Federal Housing Administration, a part of the U.S. Department of Housing and Urban Development (HUD). Because the government guarantees part of the loan, lenders can approve borrowers with lower credit scores and smaller down payments than conventional loans typically allow. FHA loans are popular with first-time buyers for exactly this reason.<\/p>\n<p>In exchange for that insurance, borrowers pay a Mortgage Insurance Premium (MIP), which has two parts. The <strong>upfront MIP<\/strong> is 1.75% of the base loan amount and is usually financed into the loan rather than paid in cash \u2014 this is why the calculator adds it to your balance before computing the monthly payment. The <strong>annual MIP<\/strong> is charged monthly, at a rate set by HUD based on your loan term and loan-to-value (LTV) ratio.<\/p>\n<p>How long you pay the annual MIP depends on your down payment. With less than 10% down, monthly MIP lasts for the life of the loan \u2014 it never drops off unless you refinance. With 10% or more down, it lasts 11 years. This is why the calculator reports total MIP paid: for a small down payment, MIP can add up to tens of thousands of dollars over the life of the loan, so it deserves a place in your budget alongside the interest rate.<\/p>\n<p>When reading the results, remember that the total monthly payment is what a lender will weigh against your income. A common guideline is that total housing costs should stay below about 31% of gross monthly income for an FHA loan. To check whether your full payment fits your finances, compare it with your other debts using our <a href=\"https:\/\/wpcalc.com\/en\/finance\/debt-to-income-ratio-calculator\/\">debt-to-income ratio calculator<\/a>.<\/p>\n<h2>Assumptions and limitations<\/h2>\n<ul>\n<li><strong>MIP rates:<\/strong> the calculator uses the current HUD annual MIP schedule \u2014 0.55% (LTV over 95%) or 0.50% (LTV of 95% or less) for 30-year loans; 0.40% (LTV over 90%) or 0.15% (LTV of 90% or less) for 15-year loans \u2014 plus a 1.75% upfront premium. HUD adjusts these rates periodically, so verify them before relying on the numbers.<\/li>\n<li><strong>Financed upfront MIP:<\/strong> the calculation assumes you roll the upfront MIP into the loan rather than paying it in cash.<\/li>\n<li><strong>Fixed rate:<\/strong> the payment assumes a fixed-rate, fully amortizing loan. FHA adjustable-rate mortgages will have payments that change over time.<\/li>\n<li><strong>Escrowed taxes and insurance:<\/strong> FHA loans require property tax and homeowner's insurance to be escrowed, so they are included in the monthly payment. Estimates for taxes and insurance vary by location \u2014 replace the default values with figures for your specific property.<\/li>\n<li><strong>Loan limits:<\/strong> FHA loan limits vary by county and change annually. If your home price exceeds the limit for your area, an FHA loan is not an option at that price.<\/li>\n<li><strong>Not included:<\/strong> closing costs, discount points, and any lender or third-party fees are not part of the estimate.<\/li>\n<\/ul>\n<h2>Practical tips<\/h2>\n<ul>\n<li>Raising a 3.5% down payment to 10% or more not only lowers your balance: it also caps monthly MIP at 11 years instead of the full term, which can save a substantial amount on a 30-year loan.<\/li>\n<li>Once you can put 20% down, compare FHA against a conventional loan \u2014 conventional loans drop private mortgage insurance entirely once you reach 20% equity, while FHA MIP (for small down payments) never goes away without a refinance.<\/li>\n<li>An FHA loan is just one path to ownership. Our <a href=\"https:\/\/wpcalc.com\/en\/finance\/rent-vs-buy-calculator\/\">rent vs. buy calculator<\/a> can help you weigh whether buying now makes sense overall.<\/li>\n<li>After closing, paying a little extra each month shortens the loan and cuts total interest \u2014 see how much with the <a href=\"https:\/\/wpcalc.com\/en\/finance\/mortgage-payoff-calculator-with-extra-payments\/\">mortgage payoff calculator<\/a>.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Estimate the full monthly payment on an FHA loan, including upfront and annual mortgage insurance premiums (MIP), property tax, insurance, and HOA dues. Enter the home price, down payment, rate, and term.<\/p>\n","protected":false},"author":3168,"featured_media":0,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[5],"tags":[30],"class_list":["post-67311","post","type-post","status-publish","format-standard","hentry","category-finance","tag-mortgage"],"acf":[],"_links":{"self":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/67311","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/users\/3168"}],"replies":[{"embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/comments?post=67311"}],"version-history":[{"count":1,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/67311\/revisions"}],"predecessor-version":[{"id":67312,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/posts\/67311\/revisions\/67312"}],"wp:attachment":[{"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/media?parent=67311"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/categories?post=67311"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wpcalc.com\/en\/wp-json\/wp\/v2\/tags?post=67311"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}