FHA Loan Calculator With MIP (2026)

Estimate your FHA mortgage payment with upfront and monthly mortgage insurance, plus taxes and insurance, using 2026 rules.

FHA loan calculator

Home price$Down payment%Interest rate%Loan termProperty tax per year$Home insurance per year$

Estimates for learning only — not a loan offer. Real numbers come from a lender’s Loan Estimate.

How an FHA payment is built

An FHA loan is a mortgage insured by the Federal Housing Administration. That insurance is why lenders accept a 3.5% down payment and lower credit scores. You pay for it in two ways, and this calculator includes both:

Upfront MIP: 1.75% of the base loan. Most people roll it into the loan instead of paying cash.
Annual MIP: a yearly premium split into monthly payments. For most 30-year FHA loans with less than 5% down it’s 0.55% a year.

FHA annual MIP (base loan up to $726,200)	Down payment	Annual MIP	How long
Term over 15 years	Less than 5%	0.55%	Life of loan
Term over 15 years	5% to under 10%	0.50%	Life of loan
Term over 15 years	10% or more	0.50%	11 years
15 years or less	Less than 10%	0.40%	Life of loan
15 years or less	10% or more	0.15%	11 years

Loans above $726,200 have higher rates (0.70%–0.75% on 30-year terms), and the calculator applies those automatically.

ExampleA $350,000 home with 3.5% down ($12,250) means a base loan of $337,750. Upfront MIP adds about $5,911, for a total loan of about $343,661. At 6.75% for 30 years, principal and interest is about $2,229 a month, plus about $155 in monthly MIP.

2026 FHA loan limits

FHA caps how much you can borrow by county. For 2026, the limit for a one-unit home is $541,287 in most of the country and up to $1,249,125 in high-cost areas. If your loan goes above your county’s limit, you’d need a bigger down payment or a different loan type, such as a conventional loan.

Myth buster“FHA mortgage insurance falls off at 20% equity, like PMI.” Not for most new FHA loans. With less than 10% down, annual MIP stays for the life of the loan. Many owners refinance into a conventional loan later to drop it. See how PMI works for comparison.

Who FHA fits best

FHA usually shines for buyers with credit scores in the 580–680 range or a small down payment. With strong credit and 5%+ down, a conventional loan is often cheaper over time because PMI can be removed. Our FHA loan requirements guide covers credit, debt-to-income and property rules.

FAQ

What is the minimum down payment for an FHA loan?

3.5% with a credit score of 580 or higher, or 10% with a score from 500 to 579.

How much is FHA mortgage insurance in 2026?

Upfront MIP is 1.75% of the base loan. Annual MIP is 0.55% for most 30-year loans with under 5% down, and lower for bigger down payments or 15-year terms.

Can I pay the upfront MIP in cash?

Yes. You can pay it at closing instead of financing it, which keeps your loan balance and monthly payment slightly lower.

What is the FHA loan limit in 2026?

$541,287 for a one-unit home in most counties, up to $1,249,125 in high-cost areas. Check your county on HUD’s FHA mortgage limits page.

Sources: HUD Mortgagee Letter 2023-05 (annual MIP rates), HUD Handbook 4000.1, HUD 2026 FHA loan limits. Monthly MIP is a first-year estimate based on the base loan. Estimates for education only. Keys & Coffee is not a lender.