FHA Loan Calculator
Calculate FHA monthly payments including Upfront MIP (UFMIP) and annual Mortgage Insurance Premium.
Understanding FHA Loans
FHA loans are government-backed mortgages that require just a 3.5% down payment and generally offer more relaxed credit requirements than conventional loans. However, they come with built-in mortgage insurance structural costs.
Upfront MIP (UFMIP)
Every FHA loan requires an Upfront Mortgage Insurance Premium of 1.75% of the base loan amount. This is almost always rolled into the total loan balance rather than paid in cash at closing.
Annual MIP
FHA loans also charge an annual Mortgage Insurance Premium. For typical 30-year loans with 3.5% down, this is 0.55% of the loan amount annually (paid monthly). If you put less than 10% down, you will pay this MIP for the life of the loan.