Financial
FHA Loan Calculator
FHA mortgage with upfront and annual mortgage insurance premiums.
Inputs
FHA Loan Calculator
Result
Monthly payment (P&I + MIP)
$1,996.87
- Principal & interest
- $1,861.86
- Monthly MIP
- $135.01
- Upfront MIP (financed)
- $5,066.25
- Total loan
- $294,566.25
- Down payment
- $10,500.00
- Total interest
- $375,703.02
How it's calculated
loan = (price − down) × 1.0175; monthly MIP = loan × 0.55%/12
Common questions
What's the minimum down payment on an FHA loan?
3.5% for borrowers with a credit score of 580 or higher; 10% below that.
Can I cancel FHA MIP?
Generally no — MIP lasts the life of the loan when you put less than 10% down. Refinancing to a conventional loan is the usual exit.
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