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FHA payment, UFMIP & MIP

FHA Loan Calculator

This calculator estimates a Federal Housing Administration (FHA) monthly payment including principal and interest, property tax, homeowners insurance, upfront mortgage insurance premium (UFMIP at 1.75%), and annual mortgage insurance premium (MIP). It uses your down payment and credit band (3.5% down at 580+ or 10% at 500–579), checks 2026 floor and ceiling loan limits, and flags back-end debt-to-income (DTI) above 43%. Results are illustrative, not a loan estimate or approval.

By Jeff Beem

Updated

01

Property

$

Within FHA floor ($541,288)

02

Down payment

$
%
03

Credit score

04

Loan terms

%
Loading…
05

Upfront MIP (1.75%)

UFMIP: $5,911

06

Annual costs

$
$
07

DTI check

$
$
High lifetime MIP, review down payment
Total monthly payment
$2,715

P&I, taxes, insurance, and MIP

Total loan $343,661Includes UFMIP
Monthly MIP $1550.55% annual
Cash to close $22,750
LTV96.5%
Lifetime MIP

Under 10% down, MIP runs the full 30-year term. Total MIP: $55,728.75

Monthly payment split

P&I$2060
Tax$350
Insurance$150
MIP$155

Refinance target

At roughly 3% annual appreciation, ~6 years to reach 20% equity for a conventional refi (no MIP).

How to use this calculator

Enter home price and down payment in sections 01–02, credit band in 03, rate and term in 04, and whether to finance the 1.75% UFMIP in 05. Add annual property tax and insurance in dollars in 06; optional gross income and other debts in 07 for the 43% back-end DTI flag. Results show total monthly payment (P&I, tax, insurance, MIP), MIP duration (life of loan vs 11 years at 10%+ down), cash to close with a 3% closing placeholder, and a refinance-equity timeline at ~3% appreciation. The rate may load from a market API on open. For planning only, not a Loan Estimate or approval.

Reading your FHA payment results

The headline number is total monthly payment (principal and interest, taxes, insurance, and monthly MIP). Cash to close adds down payment and a 3% closing-cost estimate; UFMIP is included only if you pay it out of pocket.

Example: $350,000 home, 3.5% down, 6% rate

By default: $350,000 price, $12,250 down (3.5%), credit 580+, 6% rate, 30-year term, UFMIP financed. Annual tax $4,200 and insurance $1,800 ($350 and $150/mo). Base loan $337,750 + UFMIP $5,911 → total loan $343,661. Monthly P&I ≈ $2,060; monthly MIP ≈ $155 (0.55% on base loan at 96.5% LTV); total ≈ $2,715. Cash to close ≈ $22,750 (down + 3% closing estimate). Lifetime MIP ≈ $55,729 over 30 years; badge reads High lifetime MIP, review down payment.

10% down in section 02

At $35,000 down (10%) on the same price, base loan is $315,000 (90% LTV), so annual MIP falls to 0.50% and MIP runs 11 years instead of the life of the loan. Monthly P&I ≈ $1,922, monthly MIP ≈ $131, total ≈ $2,553. Lifetime MIP ≈ $17,325 versus ≈ $55,729 at 3.5% down; the results panel shows that savings under the 11-year MIP message.

DTI and refinance panels

Section 07 adds gross income ($8,000/mo default) and other debts ($500). Back-end DTI at defaults ≈ 40.2% (under the 43% flag); front-end housing-only DTI ≈ 33.9%. The refinance target assumes ~3% annual appreciation → about 6 years to reach 20% equity at defaults.

FHA loan calculator: UFMIP, monthly MIP, and 2026 limits

This calculator estimates Federal Housing Administration (FHA) monthly payment including UFMIP and MIP from price, down payment, and loan terms. It checks 2026 floor and ceiling limits and is not a loan estimate or approval.

What this calculator does

Estimates Federal Housing Administration (FHA) style payments: principal and interest on the loan balance (including financed UFMIP if selected), monthly mortgage insurance premium (MIP) on the base loan, property tax and insurance escrow, cash to close with a 3% closing-cost placeholder, DTI check against a 43% back-end guideline, and a simple refinance-equity timeline at ~3% annual appreciation (down payment plus appreciation only; no amortization). It does not model FHA 203(k) renovation loans, streamline refis, county-specific limits beyond floor/ceiling flags, or lender overlays. Not a loan estimate; the interest rate may load from a market API on page open (default 6% if the fetch fails).
  • Base loan and UFMIP:
    Base=Price−Down\text{Base} = \text{Price} - \text{Down}
    UFMIP=0.0175×Base\text{UFMIP} = 0.0175 \times \text{Base}

    Total loan = base + UFMIP when financed.

  • Monthly MIP (this model):
    Monthly MIP=Base×Annual MIP rate12\text{Monthly MIP} = \frac{\text{Base} \times \text{Annual MIP rate}}{12}

    LTV = base loan ÷ price. Annual MIP rate: 0.55% when LTV >95%; 0.50% when LTV ≤95%. MIP duration: life of loan if down <10%; 11 years if down ≥10%.

  • P&I:
    M=Lr(1+r)n(1+r)n−1M = L \frac{r(1+r)^n}{(1+r)^n - 1}

    L = total loan (with financed UFMIP), r = monthly rate, n = payments.

How the math works

Monthly P&I amortizes the total loan (base plus financed UFMIP) at your entered rate and term. Monthly MIP applies the annual rate to the base loan only, not UFMIP. Lifetime MIP multiplies monthly MIP by 360 payments when down is under 10%, or by 132 payments (11 years) when down is 10% or more. Cash to close sums down payment, 3% of price for closing costs, and UFMIP when not financed. Back-end DTI is (total monthly payment + other debts) ÷ gross monthly income; the widget flags above 43%.

Limits of the model

FHA often fits lower credit scores and smaller down payments; conventional loans may carry lower total insurance cost with strong credit or 20% down, but this widget models FHA paths only. County loan limits beyond the national floor/ceiling flags are not looked up automatically. The refinance timeline ignores principal paydown and uses a fixed 3% appreciation assumption. Compare conventional PITI using the related calculators below when you need side-by-side PMI math.

FHA Loan Calculator FAQ

What is the minimum down payment for an FHA loan in this calculator?

This model uses 3.5% down when credit is 580+ and 10% when credit is 500–579. There are no income caps in the widget, but you still need to qualify with your lender on credit, employment, and debt-to-income (DTI).

What are the 2026 FHA loan limits in this calculator?

The tool flags the national floor ($541,288) and ceiling ($1,249,125) for the base loan amount. County limits can differ; use HUD's lookup for your exact cap. If the base loan exceeds the ceiling, the widget warns you to consider conventional or jumbo options.

What is UFMIP and how is it calculated here?

Upfront mortgage insurance premium (UFMIP) is 1.75% of the base loan (price minus down payment). Toggle Finance UFMIP in section 05 to add it to the loan balance or pay it at closing. Paid out of pocket, UFMIP increases cash to close instead of principal.

When does FHA monthly MIP end in this model?

With 10%+ down, this model assumes MIP can end after 11 years. Below 10% (including 3.5% down), MIP runs for the full loan term unless you refinance. Removing MIP usually means refinancing to conventional near 20% equity.

How is monthly MIP different from conventional PMI?

FHA charges upfront UFMIP plus annual MIP on the base loan. This model sets the annual MIP rate from base-loan loan-to-value (LTV) (base ÷ price): 0.55% when LTV >95%, 0.50% at ≤95%. Conventional private mortgage insurance (PMI) has no upfront fee, varies by credit, and often cancels near 78–80% LTV. This page models FHA only.

What DTI limit does the widget use?

Section 07 compares your back-end DTI (housing plus other monthly debts) to a 43% FHA guideline and flags when you exceed it. Lenders may allow higher ratios with compensating factors; this is an illustration, not an approval.

What does the refinance target line mean?

Results assume about 3% annual home-price appreciation and count only your down payment toward equity today (not loan paydown). The widget estimates years until 20% equity for a conventional refi without MIP. It is a rough timeline, not a rate or appraisal guarantee.

Is this a Loan Estimate or approval?

No. The interest rate may load from a market API on page open (default 6% if the fetch fails). Closing costs use a flat 3% placeholder. Output is for planning only; your lender's Loan Estimate controls cash to close and insurance.

Sources & citations

References used for the calculation method and definitions. Links open in a new tab when available.

[1]
CFPB – FHA loans (MIP overview)

Consumer Financial Protection Bureau summary of FHA mortgage insurance and low down payment options.

[2]
HUD – FHA Mortgage Limits

HUD county-level FHA loan limit lookup.

[3]
CFPB – What is mortgage insurance and how does it work?

CFPB explainer on FHA MIP versus conventional PMI.

Financial Estimation Note

General Projections: Results are mathematical estimates based on the rates and formulas currently loaded for this tool, including year-specific tax data where noted. They are intended for high-level planning only.

No Advice Provided: This site does not provide financial, tax, or legal advice. Using this tool does not create a client-advisor relationship with CalcRegistry.

Confirm Numbers: Financial laws change frequently. Please verify all results with a qualified professional (CPA, Financial Planner, or Lawyer) before making significant financial decisions.

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