Calculate your FHA mortgage payment including upfront MIP, annual MIP, property taxes, and insurance. See total loan costs and compare FHA vs conventional financing.
30-year fixed-rate mortgages — updated April 2026
| Lender | Rate | APR | Est. Payment | Action |
|---|---|---|---|---|
Community Credit UnionBest Rate | 6.125% | 6.280% | $1,217/mo | Check Rate |
National Lending Co | 6.250% | 6.410% | $1,231/mo | Check Rate |
Big Bank Mortgage | 6.375% | 6.520% | $1,247/mo | Check Rate |
Premier Mortgage | 6.450% | 6.580% | $1,258/mo | Check Rate |
Digital Home Loans | 6.500% | 6.630% | $1,264/mo | Check Rate |
Rates shown are for illustrative purposes. Actual rates may vary based on credit score, loan amount, down payment, and market conditions. Contact lenders directly for personalized rate quotes.
FHA loans require as little as 3.5% down, making homeownership accessible for first-time buyers. However, the trade-off is upfront mortgage insurance and annual MIP. This calculator shows the complete cost picture so you can compare FHA versus conventional financing.
The FHA Mortgage Calculator estimates the full monthly cost of an FHA loan, including the unique upfront mortgage insurance premium (UFMIP) that FHA loans require. Unlike conventional mortgages where private mortgage insurance (PMI) can be canceled once you reach 20% equity, FHA MIP typically remains for the life of the loan unless you put at least 10% down — in which case MIP is removed after 11 years. FHA loans are backed by the Federal Housing Administration and allow down payments as low as 3.5% for borrowers with credit scores of 580 or higher, or 10% down for scores between 500-579. The upfront MIP is currently 1.75% of the loan amount and is usually rolled into the loan balance. Annual MIP rates vary based on loan amount, term, and loan-to-value ratio. This calculator helps you understand the true cost of an FHA loan compared to conventional financing by showing not just your monthly payment, but the cumulative MIP you will pay over 15 or 30 years, and how much more a conventional loan with 20% down might cost in total.
Result: A $350,000 home with 3.5% down ($12,250) using an FHA loan at 6.5% for 30 years has a loan amount of $337,750 plus upfront MIP of $5,911 (1.75%). Monthly P&I is ~$2,134, monthly MIP is ~$239 (annual 0.85% rate), plus $350/mo property tax and $117/mo insurance, totaling ~$2,840/month. Total MIP over 30 years: ~$86,000.
Understanding how to use financial calculators effectively requires knowing the underlying concepts. The fha mortgage involves several key financial principles that affect your results.
Our calculator uses industry-standard formulas verified by certified financial professionals. The inputs you provide are processed entirely in your browser — we never store or transmit your financial data. Results update in real time as you adjust values, allowing you to explore different scenarios quickly.
For the most accurate results, use current figures from your most recent financial statements. If you are unsure about a specific input, our default values represent national averages based on data from the Federal Reserve, IRS, and Bureau of Labor Statistics.
Remember that calculator results are estimates for educational purposes. Your actual financial situation may differ based on factors like your credit score, specific lender terms, local regulations, and market conditions. We recommend consulting with a qualified financial professional before making major financial decisions.
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Results are estimates only and not financial advice. Calculator logic verified by Michael Chen, CFP®. Full disclaimer · Methodology