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FHA Loan Calculator

Calculate FHA upfront and annual mortgage insurance premium (MIP) costs.

Introduction

FHA Loan Calculator — Calculate FHA upfront and annual mortgage insurance premium (MIP) costs. Enter Base loan amount, Annual MIP (%) to get an instant, accurate result.

Formula

Upfront MIP = base loan amount × 1.75% (current HUD upfront rate), typically financed into the loan so total loan with UFMIP = base loan + upfront MIP. Monthly MIP = base loan amount × annual MIP% / 12, using a default annual MIP of 0.55% (typical for 30-year loans with under 5% down per recent HUD schedules — actual rate depends on loan term, amount, and LTV, so it's adjustable).

Step-by-step

  1. Enter the Base loan amount.
  2. Enter the Annual MIP (%).
  3. Click Calculate to see your result instantly.

Real-world example

Example: With Base loan amount = 250000, Annual MIP (%) = 0.55, the FHA Loan Calculator gives Upfront Mip: 4375, Total Loan With Ufmip: 254375, Monthly Mip: 114.5833.

Frequently Asked Questions

Is the 1.75% upfront MIP rate fixed?
Yes, 1.75% is the current standard HUD upfront MIP rate for FHA loans, though HUD can revise it, and most borrowers finance it into the loan rather than paying it in cash.
Does FHA mortgage insurance ever go away?
On loans with less than 10% down, annual MIP typically lasts for the life of the loan; with 10% or more down, it can be cancelled after 11 years — unlike conventional PMI, it's not automatically removed at 78% LTV.
What inputs does the FHA Loan Calculator need?
You'll need to provide: Base loan amount, Annual MIP (%). All fields use sensible defaults, so you can see a working example immediately and then adjust the values to match your own numbers.
How accurate is the FHA Loan Calculator?
The FHA Loan Calculator applies the formula exactly as calculated — Upfront MIP = base loan amount × 1.75% (current HUD upfront rate), typically financed into the loan so total loan with UFMIP = base loan + upfront MIP. Monthly MIP = base loan amount × annual MIP% / 12, using a default annual MIP of 0.55% (typical for 30-year loans with under 5% down per recent HUD schedules — actual rate depends on loan term, amount, and LTV, so it's adjustable). — so results are precise for the inputs you provide. Accuracy depends on entering correct, realistic input values.
Is the FHA Loan Calculator free to use?
Yes, the FHA Loan Calculator is completely free, requires no signup, and runs instantly in your browser.

About the FHA Loan Calculator

The FHA Loan Calculator uses a real, verifiable formula — Upfront MIP = base loan amount × 1.75% (current HUD upfront rate), typically financed into the loan so total loan with UFMIP = base loan + upfront MIP. Monthly MIP = base loan amount × annual MIP% / 12, using a default annual MIP of 0.55% (typical for 30-year loans with under 5% down per recent HUD schedules — actual rate depends on loan term, amount, and LTV, so it's adjustable). — so results are accurate every time, not an approximation.