Free FHA Loan Calculator

FHA loans exist to make homeownership reachable with a lower down payment and more forgiving credit requirements than most conventional loans — but that access comes with mortgage insurance premium (MIP) attached in two separate pieces, an upfront charge rolled into the loan and a monthly charge added to every payment. This calculator adds up both, because the upfront MIP alone can add thousands to your loan balance that a quick mental estimate would miss.

It's built for buyers using or considering an FHA loan specifically — often first-time buyers, or anyone whose credit score or down payment savings don't yet clear the bar for a conventional loan.

Since the numbers behind an FHA application — your down payment savings, your credit situation — are exactly the kind of thing people research privately before talking to a lender, everything here runs in your browser and nowhere else.

The upfront MIP is a percentage of your base loan amount, charged once and typically financed directly into the loan rather than paid in cash — so it increases the total amount you're borrowing and, in turn, your principal and interest payment. The annual MIP is a smaller percentage of that same (larger) loan balance, divided by 12 and added to every monthly payment as long as it applies.