Calculate FHA loan monthly payments including MIP and total costs.
FHA loans are government-backed mortgages with lower down payment requirements. Here's how the costs break down:
FHA loan costs:
Key insight: FHA loans have lower down payments but higher ongoing costs due to MIP. Compare with conventional loans to find the best fit.
Monthly payment = P × [r(1 + r)^n] ÷ [(1 + r)^n − 1]
P = principal, r = periodic interest rate, n = number of payments.The calculator applies the entered principal or balance, periodic interest rate, repayment term and any supported fees or extra payments. Payment and interest figures depend on compounding frequency, payment timing and which taxes, insurance or charges are included.
FHA Loan Calculator estimates the payment, balance, payoff or borrowing cost produced by the loan assumptions entered. Calculate FHA loan monthly payments including MIP and total costs. Use it to compare terms and payment scenarios, not as a lender quote.
It is an estimate generated from the values entered on this page and the calculation method shown in the formula and methodology sections.
The calculator validates the entered values, applies the protected formula shown on the page and then rounds only the displayed result where appropriate.
Use current source values, confirm units and time periods, include every requested cost or measurement, and avoid rounding inputs before the final calculation.
Different calculators may use different assumptions, time periods, rounding rules, reference standards or included costs. Compare the inputs and limitations before comparing answers.
No. It provides an estimate from the entered assumptions. Actual rates, fees, taxes, eligibility rules, policy terms and market performance can change the final outcome.
Recalculate whenever a material input changes, such as a rate, price, balance, measurement, time period, fee, contribution or project dimension.
Enter the expected amount, rate and term, calculate a base case, then increase the rate or shorten the term. Compare the monthly payment and total interest to understand the trade-off between cash flow and borrowing cost.