Free US FHA Loan Calculator:
Amortization, PITI & HUD MIP Rules
Calculate your exact FHA mortgage payment. Estimate your Upfront MIP (UFMIP), Annual MIP, and total PITI payment. View your full amortization schedule and equity timeline to plan your conventional refinance.
Here’s how much you’re paying in FHA MIP, when your LTV crosses key thresholds, and how fast you’re building principal versus interest.
How Our FHA Calculator Works: Estimating PITI & Upfront MIP (UFMIP)
The calculator starts by turning your purchase price and down payment into a base FHA loan amount, then adds upfront MIP if you decide to finance it.
| Step | Calculation |
|---|---|
| Base FHA loan | Purchase price × (1 − down payment %) |
| Upfront MIP (UFMIP) | Base FHA loan × 1.75% (standard FHA upfront premium) |
| Total starting balance | Base FHA loan + financed UFMIP (if rolled into the loan) |
Example: on a $350,000 home with 3.5% down, your base FHA loan is $337,750. Upfront MIP at 1.75% adds about $5,912 if financed, for a starting balance near $343,662.
With the total FHA loan amount set, the calculator computes your fixed monthly principal and interest (P&I) using the standard mortgage formula lenders use for 30‑year and 15‑year fixed loans.
Monthly rate: \( r = \text{annual interest rate} / 12 \)
Number of payments: \( n = \text{term in years} \times 12 \)
Monthly P&I payment: \( M = P \times \dfrac{r(1+r)^n}{(1+r)^n – 1} \)
Here, P is your total FHA loan amount including financed UFMIP. Using Big.js, the calculator avoids rounding glitches you sometimes see in simpler online tools, so your amortization schedule stays accurate to the cent.
FHA charges two kinds of mortgage insurance: a one‑time Upfront MIP (UFMIP) and an ongoing Annual MIP that’s built into your monthly payment.
Upfront MIP: Usually 1.75% of the base loan amount. You can pay this at closing or roll it into your loan (our default). It does not change your monthly P&I formula – it just increases the starting balance.
Annual MIP: FHA’s 2023 rule changes lowered many 30‑year annual MIP rates from 0.85% to about 0.55% of your outstanding balance per year for typical loans, and those reductions continue to apply in 2026 for standard scenarios. The calculator applies:
| Typical 30‑Year Scenario | Annual MIP Rate (Example) |
|---|---|
| ≤ 5% down (3.5% FHA minimum) | ≈ 0.55% of remaining balance per year |
| 5%+ down, standard balance | ≈ 0.50% per year |
Each year, the calculator multiplies your current loan balance by the appropriate MIP rate and then divides by 12 to get your monthly MIP. Because your balance falls every month, the MIP dollar amount gradually shrinks even though the rate itself stays constant.
Lenders care about your total housing payment, not just principal and interest. This calculator builds a full PITI view so you can see what fits your budget and FHA’s debt‑to‑income guidelines.
Your monthly output in the calculator equals:
Total FHA housing cost = Principal + Interest + Monthly MIP + Property Taxes + Homeowners Insurance (+ HOA dues if applicable)
After it builds your monthly payment, the calculator generates a full amortization schedule and uses it to estimate when you might be ready to refinance out of FHA into a no‑MIP conventional loan.
For each month, the schedule shows:
- Interest for the month (current balance × monthly rate)
- Principal for the month (P&I payment − interest)
- New balance (old balance − principal)
- Updated annual MIP based on the new, lower balance
- Cumulative interest and MIP paid so far
| LTV Milestone | Why It Matters | What the Calculator Shows |
|---|---|---|
| 90% LTV | Early indicator that you’re on track – some lenders may allow cash‑in refis here. | Approximate year/month when balance ÷ value ≤ 0.90. |
| 85% LTV | Stronger equity position; more likely to qualify for better conventional pricing. | Timeline to 85% assuming your chosen appreciation rate. |
| 80% LTV | Key threshold where conventional PMI can often be avoided entirely. | Estimated “refi‑ready” date – when a no‑PMI refi starts to make sense. |
Real US FHA Scenarios: First-Time Homebuyers & House Hacking (2025–2026)
Real borrower types · Actual MIP math · Refi milestonesThese five examples cover the most common FHA loan situations in the 2025–2026 US market — from a first-time buyer in a mid-tier city to a house-hacker in a high-cost market. All figures are rounded but market-realistic. Use the calculator above to replicate any scenario with your own numbers.
| Year | Balance | Principal Paid | Interest Paid | MIP Paid | LTV |
|---|---|---|---|---|---|
| Start | $199,323 | — | — | — | 80.4% |
| Yr 1 | $196,512 | $2,811 | $14,140 | $1,091 | 79.2% |
| Yr 3 | $190,620 | $8,703 | $27,818 | $3,198 | 76.9% |
| Yr 5 | $184,290 | $15,033 | $46,221 | $5,220 | 74.3% |
| Yr 11 | $163,800 | $35,523 | $100,812 | MIP ends | 66.1% |
🏠 The FHA Loan
📈 House Hack Cashflow
Expert FHA Strategies: The 11-Year Rule & FHA-to-Conventional Refinance
Strategies most buyers never use| Down Payment | MIP Duration | Total MIP Paid (30-yr, $320K loan) | MIP Saved vs. 3.5% Down |
|---|---|---|---|
| 3.5% ($11,200) | Life of loan (360 mo.) | ~$46,400 | — |
| 5% ($16,000) | Life of loan (360 mo.) | ~$45,100 | $1,300 |
| 9.9% ($31,680) | Life of loan (360 mo.) | ~$44,400 | $2,000 |
| 10% ($32,000) ✓ | 11 years (132 mo.) | ~$18,100 | $28,300 saved |
| Monthly Extra Principal | Payoff Shortcut | Interest Saved | Reaches 80% LTV By |
|---|---|---|---|
| $0 (standard) | 30 years | — | Year 14–15 |
| $100/month | 25 yr 3 mo. (−4 yr 9 mo.) | $77,400 | Year 11–12 |
| $250/month | 21 yr 8 mo. (−8 yr 4 mo.) | $143,200 | Year 9–10 |
| $500/month | 16 yr 8 mo. (−13 yr 4 mo.) | $211,600 | Year 7–8 |
Based on $275,000 FHA loan at 6.75% · 30-year term · 3.5% down
🏉 Calculate Your Exact Payoff Date ↗| Scenario | FHA Rate | FHA MIP/mo | Conv. Rate | Conv. PMI/mo | Net Monthly Change |
|---|---|---|---|---|---|
| At 80% LTV (no PMI) | 6.50% | $140 | 7.25% | $0 | Save ~$52/mo |
| At 80% LTV (no PMI) | 5.75% | $140 | 7.00% | $0 | Even or slight loss — wait |
| At 80% LTV (no PMI) | 7.00% | $148 | 7.50% | $0 | Save ~$105/mo ✓ |
Figures estimated on $320,000 remaining balance · Always run your specific numbers
| Loan Amount | Rate 7.00% | Rate 6.75% | Rate 6.50% | Savings (7.00% vs 6.50%) |
|---|---|---|---|---|
| $250,000 | $1,663/mo | $1,622/mo | $1,580/mo | $83/mo · $29,880 total |
| $320,000 | $2,129/mo | $2,076/mo | $2,023/mo | $106/mo · $38,160 total |
| $400,000 | $2,661/mo | $2,595/mo | $2,529/mo | $132/mo · $47,520 total |
P&I only · 30-year fixed · figures illustrative
| 203(k) Scenario | Purchase Price | Reno Budget | After-Repair Value | Instant Equity | Down Payment |
|---|---|---|---|---|---|
| Detroit fixer-upper | $95,000 | $55,000 | $200,000 | $48,700 | $5,250 (3.5%) |
| Columbus duplex rehab | $180,000 | $70,000 | $320,000 | $62,500 | $8,750 (3.5%) |
| Phoenix suburban teardown | $220,000 | $90,000 | $420,000 | $98,500 | $10,850 (3.5%) |
Down payment = 3.5% of (Purchase + Reno). Equity = ARV minus (Purchase + Reno). All figures illustrative.
FHA Mortgage Insurance & Loan Amortization Frequently Asked Questions
22 questions across 5 topicsAn FHA loan is a mortgage insured by the Federal Housing Administration, a division of the US Department of Housing and Urban Development (HUD). Because the federal government backs FHA loans, lenders accept lower credit scores and smaller down payments than they would on a conventional loan — which makes FHA the most popular low-down-payment mortgage program in the US.
FHA is best for:
- First-time buyers with credit scores between 580–669 who can’t qualify for conventional financing
- Buyers who have only 3.5% saved for a down payment
- Borrowers recovering from a prior bankruptcy (eligible 2 years after Chapter 7 discharge)
- Buyers purchasing a 2–4 unit property and planning to occupy one unit (house hacking)
- Buyers in high-cost markets needing loans up to $1,209,750 (2026 FHA ceiling)
FHA is NOT best for: buyers with 720+ credit scores and 20% down (a conventional loan is cheaper), investors who won’t occupy the property, or buyers of vacation/second homes (FHA requires primary residence occupancy).
FHA has two official credit score tiers that determine your minimum down payment:
| Credit Score Range | Min. Down Payment | Notes |
|---|---|---|
| 580 and above | 3.5% | Most FHA borrowers fall here |
| 500–579 | 10% | Limited lender options; higher rate likely |
| Below 500 | Not eligible | HUD minimum floor — no FHA loan |
Important caveat: While HUD sets the minimum at 500, most lenders add their own overlay — requiring 580, 620, or even 640 in practice. A 580 score with a clean recent payment history will qualify at almost any FHA lender. A 540 score may qualify only at specialty lenders offering manual underwriting.
FHA loan limits are set annually by HUD and vary by county and property type. For 2026 the national limits are:
| Property Type | Standard Limit | High-Cost Limit |
|---|---|---|
| 1-unit (single family) | $524,225 | $1,209,750 |
| 2-unit (duplex) | $671,200 | $1,548,975 |
| 3-unit (triplex) | $811,275 | $1,872,225 |
| 4-unit (fourplex) | $1,008,300 | $2,326,875 |
High-cost limits apply in metros like San Francisco, New York City, Los Angeles, Seattle, Boston, and Washington D.C. — where HUD has designated the area as “high-cost.” You can look up your exact county limit at hud.gov/program_offices/housing/sfh/lender/origination/mortgage_limits.
Yes — 100% of the FHA down payment can come from a gift. This is one of FHA’s biggest advantages over many conventional loans that require at least some of the buyer’s own funds.
Acceptable gift sources include:
- Family members (parents, grandparents, siblings, aunts/uncles, spouses, domestic partners)
- Employers and labor unions
- Close friends with a clearly documented personal relationship
- HUD-approved down payment assistance programs and non-profits (e.g., AmeriDream, Nehemiah)
- Government entities offering down payment assistance
What’s required: A signed gift letter stating the amount, the donor’s name and relationship, the property address, and an explicit statement that no repayment is expected. The lender will also verify the donor’s ability to give (bank statement showing the funds existed) and the transfer of funds to the borrower’s account.
FHA charges two types of MIP — an Upfront MIP (UFMIP) paid at closing (or rolled into the loan) and an Annual MIP charged monthly on the outstanding balance.
Upfront MIP: 1.75% of the base loan amount for virtually all FHA loans. On a $300,000 loan this equals $5,250 added to your balance.
Annual MIP (2026 rates for 30-year loans):
| Loan Amount | LTV at Origination | Annual MIP Rate |
|---|---|---|
| ≤ $726,200 | > 95% (less than 5% down) | 0.55% |
| ≤ $726,200 | ≤ 95% (5%+ down) | 0.50% |
| > $726,200 | > 95% | 0.55% |
| > $726,200 | ≤ 95% | 0.50% |
For 15-year loans, annual MIP rates are lower — ranging from 0.15% to 0.40% depending on LTV and loan amount. Always confirm current rates with your lender or at hud.gov as HUD adjusts MIP periodically.
MIP cancellation rules depend entirely on two factors: your loan origination date and your original down payment percentage.
For FHA loans closed after June 3, 2013 (most current loans):
| Original Down Payment | Loan Term | MIP Duration |
|---|---|---|
| Less than 10% | 30 or 20 year | Life of loan — no automatic cancellation |
| 10% or more | 30 or 20 year | Cancels after 11 years |
| Less than 10% | 15 year | Life of loan |
| 10% or more | 15 year | Cancels after 11 years |
Critical point: If you put 3.5% down on a 30-year FHA loan originated after June 2013, MIP does NOT automatically cancel at 80% LTV — unlike conventional PMI. You must refinance into a conventional loan to eliminate it.
No — MIP and PMI are fundamentally different despite both protecting the lender against default. Here are the key differences:
| Feature | FHA MIP | Conventional PMI |
|---|---|---|
| Upfront cost | 1.75% of loan (rolled in) | Usually $0 upfront |
| Monthly cost | 0.50%–0.55% annually | 0.20%–2.00% annually |
| Cancellation | Life of loan (<10% down) | Automatic at 80% LTV (HPA) |
| Who issues it | HUD / Federal government | Private insurance companies |
| Credit score impact | Rate doesn’t change with score | PMI rate rises with lower scores |
| Required for | All FHA loans regardless of LTV | Only if LTV > 80% |
For borrowers with good credit putting 5–10% down, conventional PMI is often cheaper than FHA MIP — especially over time, because PMI cancels but FHA MIP (post-2013) doesn’t.
Yes — but only the 10% down threshold makes a meaningful MIP difference. Putting exactly 10% down (rather than 3.5%) triggers the 11-year MIP cancellation rule instead of lifetime MIP. Anything between 3.5% and 9.9% down does not change MIP duration or rate.
Here is what each down payment level buys you:
- 3.5% down: MIP for life of loan; annual rate 0.55%
- 5%–9.9% down: MIP for life of loan; annual rate 0.50% (slight reduction)
- 10%+ down: MIP cancels after 11 years; annual rate 0.50%
- 20%+ down: Still required to pay FHA MIP — the only way to avoid FHA MIP entirely is to not use FHA (use conventional instead at 20%+ down)
Yes — partially, if you refinance into another FHA loan within 3 years. HUD has a UFMIP refund schedule for borrowers who use an FHA Streamline Refinance or other FHA-to-FHA refi within 36 months of their original closing.
| Months Since Original FHA Closing | UFMIP Refund % |
|---|---|
| 1–12 months | 80% refund |
| 13–24 months | 60% refund |
| 25–36 months | 40% refund |
| 37+ months | No refund |
The refund is applied as a credit toward the new UFMIP on your new FHA loan — it is not paid back to you in cash. If you refinance out of FHA into a conventional loan (even within 3 years), you receive no UFMIP refund.
Your total monthly FHA housing cost has up to five components. Understanding each one helps you use this calculator accurately:
| Component | What It Covers | Optional? |
|---|---|---|
| Principal (P) | Loan balance repayment — increases each month | No |
| Interest (I) | Cost of borrowing — decreases each month | No |
| Annual MIP | FHA insurance premium charged monthly on balance | No (required) |
| Property Taxes (T) | Escrowed if required by lender (~1–2% of value/yr) | Usually escrowed |
| Homeowners Insurance (I) | FHA requires hazard insurance at all times | Usually escrowed |
| HOA / Condo Dues | Mandatory if property has an HOA | Only if applicable |
The P&I formula is standard amortization: monthly payment = P × [r(1+r)ⁿ] ÷ [(1+r)ⁿ−1], where r = monthly interest rate, n = total payments. The FHA calculator above applies this formula to your total loan balance including rolled-in UFMIP — not just the base loan amount.
This is simply how amortization math works — and it applies to every fixed-rate mortgage, not just FHA. Because your monthly payment is fixed but your interest is calculated on the outstanding balance, early payments are heavily weighted toward interest.
Example on a $320,000 FHA loan at 7.00% (30-year):
| Year | Monthly Payment | Goes to Interest | Goes to Principal | Balance Remaining |
|---|---|---|---|---|
| Year 1 | $2,130 | $1,861 (87%) | $269 (13%) | $316,773 |
| Year 5 | $2,130 | $1,796 (84%) | $334 (16%) | $304,100 |
| Year 10 | $2,130 | $1,697 (80%) | $433 (20%) | $285,800 |
| Year 20 | $2,130 | $1,362 (64%) | $768 (36%) | $232,100 |
| Year 28 | $2,130 | $315 (15%) | $1,815 (85%) | $52,000 |
The crossover point — where more of each payment goes to principal than interest — occurs roughly in year 22–23 on a 30-year 7% loan. This is why building equity in the early years is slow, and why extra principal payments in years 1–10 have the highest mathematical impact on reducing total interest paid.
Yes — every extra dollar of principal payment reduces your monthly MIP the following month. FHA annual MIP is calculated as a percentage of your outstanding balance each month. As your balance drops faster from extra payments, your monthly MIP charge decreases proportionally.
Additionally, extra payments can push you across the 78% LTV threshold faster — which is required alongside the minimum term for any automatic MIP cancellation on eligible pre-2013 FHA loans.
There is no FHA prepayment penalty, so extra principal payments are always financially beneficial.
FHA uses two DTI ratios to evaluate affordability:
- Front-end DTI (housing ratio): Total monthly housing cost (PITI + MIP + HOA) ÷ gross monthly income. FHA guideline: ≤ 31%
- Back-end DTI (total debt ratio): All monthly debt payments + housing cost ÷ gross monthly income. FHA guideline: ≤ 43%
With compensating factors, FHA automated underwriting (TOTAL Scorecard) can approve higher DTIs:
| Back-End DTI | Requirement to Qualify |
|---|---|
| ≤ 43% | Standard approval — no compensating factors needed |
| 44%–50% | One compensating factor required (cash reserves, no payment shock, residual income) |
| 51%–57% | Two compensating factors + no discretionary debt |
| Above 57% | Not eligible for FHA AUS approval; manual underwriting only in rare cases |
A 15-year FHA loan has three significant advantages over a 30-year: a lower interest rate (typically 0.50%–0.75% lower), dramatically less total interest paid, and much lower MIP rates. However, the monthly payment is substantially higher.
15-year vs. 30-year on a $300,000 FHA loan (6.25% vs. 7.00%):
| Factor | 15-Year FHA | 30-Year FHA |
|---|---|---|
| Monthly P&I | $2,572 | $1,996 |
| Annual MIP rate | 0.15%–0.40% | 0.50%–0.55% |
| Total interest paid | $162,960 | $418,560 |
| Total MIP paid | ~$18,000 | ~$46,800 |
| MIP cancellation | Year 11 (if 10% down) | Life of loan (if <10% down) |
Choose 15-year if your income is stable, the higher payment fits your DTI, and you want to minimize total MIP and interest. Choose 30-year if cash flow flexibility matters more than total cost.
The ideal FHA refi window opens when three conditions are met simultaneously:
- LTV is at or below 80% — so you avoid conventional PMI on the new loan
- Credit score has improved — ideally 680+ to get competitive conventional rates
- The refi breakeven is within your planned stay period — closing costs take 18–30 months to recoup
Even if conventional rates are higher than your FHA rate, eliminating the annual MIP (0.55%) often produces net monthly savings. Example: Refi from 5.50% FHA (with $140/mo MIP) to 7.00% conventional (no PMI at 80% LTV). The rate increase costs ~$90/month more in interest but saves $140 in MIP = net $50/month savings.
An FHA Streamline Refinance is a simplified FHA-to-FHA refi that removes most standard underwriting requirements. It is designed to reduce your rate and monthly payment quickly with minimal paperwork.
What is waived:
- Full income verification and employment check (in most cases)
- New home appraisal (for non-credit-qualifying streamlines)
- Full credit pull and underwriting in many cases
Requirements to qualify:
- Your existing loan must be FHA-insured
- Must be current — no 30-day lates in the last 12 months
- Loan must be at least 210 days old (6+ payments made)
- Refi must produce a “net tangible benefit” — typically a 5%+ reduction in P&I + MIP payment or a switch from ARM to fixed
To refinance from FHA into a conventional loan without triggering PMI, you need at least 20% equity (80% LTV or lower) based on a new appraisal. Your equity grows from two sources: principal paydown from monthly payments, and home value appreciation.
If you only have 10–19% equity, conventional PMI will apply — but it may still be cheaper than FHA MIP depending on your credit score and the PMI rate you’re quoted. Run the PMI calculator to compare.
If you have less than 10% equity, refinancing out of FHA is almost never financially beneficial — you’d trade FHA MIP for conventional PMI at a higher rate, on a higher loan balance, with new closing costs.
Both 203(k) products allow you to roll purchase + renovation into one FHA loan, but they differ significantly in scope and process:
| Feature | 203(k) Limited (Streamline) | 203(k) Standard (Full) |
|---|---|---|
| Max renovation budget | $35,000 | No cap (up to FHA limit) |
| Structural repairs allowed | No | Yes — including full teardown/rebuild |
| HUD consultant required | No | Yes (adds $400–$1,000 in fees) |
| Complexity | Simpler — cosmetic repairs only | Complex — requires plans/specs |
| Best for | Paint, carpet, appliances, minor updates | Kitchen gut, addition, foundation work |
| Draw schedule | Up to 2 draws | Multiple draws as work is inspected |
Yes — FHA allows 1–4 unit residential properties as long as you occupy one unit as your primary residence. This is the foundation of the FHA house-hacking strategy.
Key rules for multi-unit FHA purchases:
- You must move in within 60 days of closing and live there as your primary residence
- Rental income from the other units can count toward qualifying income — lenders typically use 75% of market rent (verified by appraisal)
- FHA loan limits are higher for 2–4 unit properties (see Q03 for 2026 limits)
- You must have sufficient reserves: 3 months PITI for 3–4 unit properties
- For 3–4 unit properties, lenders typically require you to have landlord experience or 3+ months of cash reserves
FHA has the most lenient waiting periods of any major loan program for borrowers with prior credit events:
| Credit Event | FHA Waiting Period | Conventional Waiting Period |
|---|---|---|
| Chapter 7 Bankruptcy | 2 years from discharge | 4 years from discharge |
| Chapter 13 Bankruptcy | 12 months of plan payments (with court approval) | 2 years from discharge |
| Foreclosure | 3 years from completion | 7 years |
| Short Sale / Deed-in-lieu | 3 years | 4–7 years |
During the waiting period, you must demonstrate re-established credit — typically 12+ months of on-time payments on at least one or two new accounts.
Yes — lawful permanent residents (green card holders) are eligible for FHA loans on the same terms as US citizens. Non-permanent resident aliens may also qualify under specific conditions.
| Immigration Status | FHA Eligible? | Additional Requirements |
|---|---|---|
| US Citizen | Yes | Standard FHA requirements |
| Lawful Permanent Resident | Yes | Valid green card (I-551) required |
| Non-Permanent Resident (work visa) | Yes, with conditions | Valid EAD, Social Security number, US credit history, property must be primary residence |
| DACA Recipient | Varies by lender | Some FHA lenders allow DACA; others do not — confirm with lender |
| Undocumented / No legal status | No | FHA requires lawful residency |
This calculator provides highly accurate estimates based on your inputs — but several real-world factors cannot be computed here and must be verified with a licensed FHA lender:
- Your actual interest rate — depends on your credit score, lender, and market conditions at time of lock; we use whatever rate you enter
- Lender-specific overlays — individual lenders may require higher credit scores, lower DTIs, or additional reserves beyond FHA minimums
- Escrow analysis — your lender will perform a formal escrow analysis to determine exact monthly tax and insurance impounds; actual amounts may differ from estimates
- FHA appraisal results — FHA requires a specific appraisal that includes minimum property standards; a poor appraisal can affect loan amount or require repairs before closing
- County-specific MIP rates — HUD occasionally adjusts MIP rates; always verify at hud.gov before making final decisions
- Down payment assistance programs — state, county, and non-profit DPA programs can reduce your effective out-of-pocket cost; these are not modeled in this calculator
Related US Real Estate & First-Time Homebuyer Calculators
All free · No account · No email requiredThe FHA Loan Amortization Calculator is one piece of the homebuying puzzle. Use these free tools alongside it — whether you’re comparing loan programs, planning a refi, protecting your investment, or analyzing a rental property.
Editorial Transparency, HUD Sourcing & Legal Disclaimer
Last verified: May 2026The FHA Loan Amortization Calculator and all related content on USFinanceCalculators.com are provided for general educational and informational purposes only. Nothing on this page constitutes financial advice, mortgage advice, legal advice, tax advice, or a solicitation or offer to originate a mortgage loan.
Results are estimates only. All outputs from this calculator — including monthly payment amounts, annual MIP figures, amortization schedules, total interest figures, and break-even projections — are mathematical estimates based solely on the inputs you provide. Your actual loan terms, interest rate, closing costs, escrow requirements, and MIP obligation will be determined by your lender, a current HUD-approved appraisal, and your individual financial and credit profile at the time of application.
This calculator is not a Loan Estimate (LE) or Good Faith Estimate (GFE). Under the Real Estate Settlement Procedures Act (RESPA) and Regulation Z (Truth in Lending Act), only a licensed lender can issue a binding Loan Estimate. The figures produced by this tool do not carry the legal protections of a formal LE and are not binding on any lender or mortgage broker.
Interest rates change daily. Mortgage rates shown as examples throughout this page are illustrative only and are not current rate quotes. Actual rates available to you will depend on your credit score, loan-to-value ratio, debt-to-income ratio, property type, occupancy status, lock period, and market conditions at the time of your loan application. Always obtain a formal Loan Estimate from at least two licensed FHA-approved lenders before making any financial decision.
MIP rules may change. FHA Mortgage Insurance Premium rates and cancellation rules are set by the US Department of Housing and Urban Development (HUD) and can be modified at any time through HUD Mortgagee Letters without advance public notice. All MIP rates and cancellation thresholds referenced on this page reflect published HUD guidance as of May 2026 but may not reflect future changes. Verify current MIP rates at hud.gov ↗ before relying on any figure.
- ✓ Independent content — no lender, bank, or financial institution pays to influence our calculator logic, MIP rates, or written content
- ✓ Government-sourced data — MIP rates, loan limits, and eligibility rules are sourced directly from HUD Mortgagee Letters and FHA.gov
- ✓ Plain language — all explanations are written for US borrowers using everyday terms, not lender jargon
- ✓ Regular reviews — content and calculator parameters are reviewed after each HUD Mortgagee Letter that affects MIP rates or loan limits
- ✓ Zero data collection — all calculations run client-side in your browser; no inputs are sent to any server, stored, or sold
- ✓ Transparent methodology — calculation formulas are based on standard mortgage amortization per the Consumer Financial Protection Bureau (CFPB) published guidance
- ✓ IS: A free educational tool to estimate FHA monthly payments and full amortization schedules
- ✓ IS: A planning aid to compare loan scenarios, MIP durations, and refi timing
- ✓ IS: A starting point for your conversation with a licensed FHA lender or HUD-approved housing counselor
- ✗ IS NOT: A Loan Estimate, pre-qualification, or pre-approval from any lender
- ✗ IS NOT: A guarantee of any rate, fee, or loan availability
- ✗ IS NOT: A substitute for advice from a licensed mortgage professional, HUD-approved housing counselor, or qualified attorney
- ✗ IS NOT: Affiliated with, endorsed by, or operated by HUD, FHA, or any government agency
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