FHA loan calculator (US, 2026)
FHA loans are a US program. Defaults are the values known in 2026; you can change the yearly insurance rate.
Result
1,996.19Total per month (year 1)
- Principal and interest
- 1,861.86
- MIP per month
- 134.33
- Upfront MIP (1.75%, added to the loan)
- 5,066.25
- Total loan amount
- 294,566.25
- Years of MIP
- 30
- Total interest
- 375,703.02
- Total yearly MIP
- 31,790.26
- Total cost (interest + insurance)
- 412,559.52
Inputs
- Home price
- 300000
- Down payment
- 3.5
- Rate per year
- 6.5
- Length
- 30
- Yearly insurance (MIP)
- 0.55
How it is calculated
Base loan = price × (1 − down payment). Upfront MIP = 1.75% of the base loan, added to the loan.
Result
Total per month (year 1)
- Principal and interest
- 1,861.86
- MIP per month
- 134.33
- Upfront MIP (1.75%, added to the loan)
- 5,066.25
How it is calculated
- Base loan = price × (1 − down payment). Upfront MIP = 1.75% of the base loan, added to the loan.
- Payment = P × i ÷ (1 − (1 + i)^−n), with i = rate ÷ 12.
- Yearly MIP = MIP rate × average balance of the year, paid in 12 parts.
- Under 10% down: MIP for the whole loan; otherwise 11 years.
Example
$300,000 with 3.5% down: base loan $289,500, upfront MIP $5,066.25, total loan $294,566.25. At 6.5% over 30 years: $1,861.88 a month before MIP.
Good to know
- Indicative 2026 values: check HUD’s official figures and your county loan limit.
- Property tax and home insurance are not included.
- Eligibility depends on the lender and your file.
Sources
- HUD Mortgagee Letter 2023-05
- HUD Single Family Housing Policy Handbook 4000.1
Frequently asked questions
What is this tool used for?
FHA loans are a US program. Defaults are the values known in 2026; you can change the yearly insurance rate.
How is the result calculated?
Base loan = price × (1 − down payment). Upfront MIP = 1.75% of the base loan, added to the loan.
What should I check before using the result?
Indicative 2026 values: check HUD’s official figures and your county loan limit.