FHA Loan Calculator
Calculate your FHA mortgage payments including principal, interest, taxes, insurance, and mortgage insurance premium (MIP)
Down Payment Assistance Available
$17,500
Your out-of-pocket down payment:
$0
Loan Details
$350,000
$100,000$1,500,000
3.5% ($12,250)
3.5% (FHA Min)20%
6.5%
3%10%
Additional Costs
$
$
Monthly Payment
$2,718.64
Total Monthly Payment
Principal & Interest$2,172.17
FHA Mortgage Insurance (MIP)$154.80
Property Tax$291.67
Home Insurance$100.00
Loan Summary
Down Payment Breakdown
Down Payment Required (3.5%)$12,250
Down Payment Assistance- $17,500
Your Cash to Close$0
Loan Amount
$337,750
Total Down Payment
$12,250
Upfront MIP (1.75%)
$5,911
Total Financed
$343,661
Loan-to-Value Ratio
96.5%
Annual MIP Rate
0.55%
Total Cost Over 30 Years
Total Interest$438,320
Total MIP$55,729
Total Property Tax$105,000
Total Home Insurance$36,000
Total of All Payments$978,710
About FHA Loans
Low Down Payment
FHA loans require as little as 3.5% down payment for credit scores of 580 or higher. Credit scores between 500-579 require 10% down.
Mortgage Insurance
FHA loans require both upfront MIP (1.75% of loan) and annual MIP (0.50-0.80% depending on loan amount and LTV).
Loan Limits
FHA loan limits vary by county. In 2024, limits range from $498,257 in low-cost areas to $1,149,825 in high-cost areas.