FHA Loan Calculator
Monthly Payment, MIP & UFMIP Breakdown — 2026
Enter your home price and down payment — get a full FHA payment breakdown in seconds. Monthly MIP, UFMIP, DTI analysis, and FHA vs conventional comparison. Powered by live FRED rate data and 2026 HUD guidelines.
What the FHA calculator shows you
Most calculators understate your FHA payment because they skip the UFMIP. HomeRates.ai adds the 1.75% upfront fee to your loan balance before computing P&I — so you see the real number a loan officer would show you.
Full monthly payment
Principal & interest on the full financed amount (including UFMIP), monthly MIP, property taxes, and homeowners insurance — every component broken out.
MIP duration logic
Tells you whether MIP lasts the life of the loan (less than 10% down) or cancels after 11 years (10%+ down) — and what the total MIP cost is either way.
FHA vs conventional
Side-by-side on the same purchase price. See which is cheaper at closing, which is cheaper monthly, and when conventional's PMI cancellation tips the math.
DTI analysis
Front-end and back-end debt-to-income ratio per HUD FHA guidelines (31%/43% standard, up to 50% with compensating factors). Shows exactly where you stand.
Live 2026 rates
Pulls the live 30-year average from FRED (Freddie Mac PMMS) weekly. Your payment estimate uses the actual current market rate, not a static default.
Loan limit check
Checks your loan amount against 2026 FHA limits ($541,287 standard, up to $1,249,125 high-cost) and flags whether you're within range for your county.
FHA monthly payment by home price — 2026
Assumes 3.5% down · 6.75% rate · 30-year fixed · Annual MIP 0.55% · Taxes 1.1%/yr · Insurance 0.35%/yr. UFMIP (1.75% of base loan) is financed into the total loan amount shown.
| Home Price | Down (3.5%) | Total Loan (w/ UFMIP) | P&I | MIP/mo | Tax + Ins | Total/mo |
|---|---|---|---|---|---|---|
| $250,000 | $8,750 | $245,472 | $1,591 | $111 | $302 | $2,004 |
| $300,000 | $10,500 | $294,566 | $1,910 | $133 | $363 | $2,406 |
| $350,000 | $12,250 | $343,661 | $2,228 | $155 | $423 | $2,806 |
| $400,000 | $14,000 | $392,755 | $2,547 | $177 | $484 | $3,208 |
| $450,000 | $15,750 | $441,849 | $2,865 | $199 | $544 | $3,608 |
| $500,000 | $17,500 | $490,944 | $3,183 | $221 | $604 | $4,008 |
| $550,000 | $19,250 | $540,038 | $3,502 | $243 | $664 | $4,409 |
Actual payment varies by county tax rate, HOA, and lender fees. For educational purposes only.
FHA vs conventional — side by side
$400,000 purchase price · FHA at 3.5% down vs conventional at 5% down · 6.75% rate · 30-year fixed.
| Feature | FHA (3.5% down) | Conventional (5% down) |
|---|---|---|
| Down payment | $14,000 | $20,000 |
| UFMIP / PMI upfront | $6,755 financed | None |
| Total loan amount | $392,755 | $380,000 |
| P&I payment | $2,547/mo | $2,464/mo |
| Mortgage insurance | $177/mo (MIP) | $158/mo (PMI) |
| Insurance removes? | 11 yrs (10%+ down) or refi | Auto at 80% LTV (~yr 9) |
| Min. credit score | 580 | 620 |
| Max DTI (standard) | 43% (50% w/ factors) | 45% (50% w/ DU) |
| Gift funds for down | 100% allowed | Primary/2nd home only |
| Total monthly (PITI) | $3,208/mo | $3,089/mo |
Income needed to qualify for an FHA loan
Based on FHA's 43% back-end DTI guideline · 3.5% down · 6.75% rate · $500/mo in existing debts. 50% DTI requires compensating factors per HUD guidelines.
| Home Price | Total Monthly (PITI) | Min. Income (43% DTI) | Min. Income (50% DTI) |
|---|---|---|---|
| $250,000 | $2,004/mo | $62,942/yr | $54,096/yr |
| $300,000 | $2,406/mo | $81,843/yr | $70,344/yr |
| $350,000 | $2,806/mo | $96,000/yr | $82,344/yr |
| $400,000 | $3,208/mo | $106,588/yr | $91,392/yr |
| $450,000 | $3,608/mo | $119,693/yr | $102,792/yr |
| $500,000 | $4,008/mo | $132,886/yr | $114,192/yr |
Estimates assume standard property tax (1.1%) and homeowners insurance (0.35%). Actual qualification depends on credit score, lender overlay, and local tax rate. For educational purposes only.
How HomeRates.ai calculates your FHA payment
The calculation is deterministic — not AI-estimated. The same inputs always produce the same output, using the same math a loan officer uses.
- UFMIP added to loan — 1.75% of the base loan amount is financed into your mortgage. This increases your loan balance before P&I is calculated — the step most online calculators skip.
- P&I on full financed amount — monthly principal and interest is computed on the total loan (base + UFMIP) at the current FRED 30-year rate.
- Monthly MIP — annual MIP of 0.55% is applied to the base loan balance and billed monthly per HUD Mortgagee Letter 2023-05.
- MIP duration logic — if down payment is under 10%, MIP lasts the life of the loan. If 10%+, MIP cancels after 11 years. The total cost of each scenario is shown.
- 2026 loan limit check — loan amount is compared against the 2026 FHA limit for your county ($541,287–$1,249,125) per HUD No. 25-145.
Frequently asked questions
What is an FHA loan calculator?
An FHA loan calculator computes your full monthly payment including P&I, monthly MIP (0.55%/yr), property taxes, and homeowners insurance. It also shows the 1.75% upfront fee (UFMIP) financed into your loan — a detail most calculators omit. HomeRates.ai uses 2026 HUD guidelines and live FRED mortgage rate data.
What is the minimum down payment for an FHA loan in 2026?
3.5% with a credit score of 580+. 10% for scores 500–579. Below 500 is ineligible. On a $400,000 home, 3.5% down = $14,000. Gift funds from family are allowed for 100% of the down payment — FHA is uniquely flexible on this.
How much is FHA mortgage insurance in 2026?
Two parts: (1) Upfront MIP (UFMIP) = 1.75% of base loan, financed into your mortgage. (2) Annual MIP = 0.55%/yr billed monthly. On a $400k purchase with 3.5% down, UFMIP adds ~$6,755 to your loan and annual MIP costs ~$177/month. Source: HUD Mortgagee Letter 2023-05.
What are the FHA loan limits for 2026?
Standard counties: $541,287 for a single-family home. High-cost areas (most of California, NYC, Seattle, etc.): up to $1,249,125. If your loan exceeds your county limit, you need a jumbo or conventional loan. Source: HUD No. 25-145, effective Jan 1, 2026.
FHA vs conventional loan — which is better?
FHA wins if: credit score is 580–679, down payment is under 5%, or DTI is above 43%. Conventional wins if: credit is 680+, down payment is 5%+, and you want PMI that cancels automatically at 80% LTV. Key difference: FHA MIP lasts the life of the loan with less than 10% down — conventional PMI does not.
Can I remove FHA mortgage insurance (MIP)?
Yes — two ways. (1) Put 10%+ down: MIP automatically cancels after 11 years. (2) Put less than 10% down: MIP lasts forever until you refinance to conventional. Once you hit 20% equity, refinancing to conventional eliminates MIP. Most borrowers do this 5–7 years after purchase.
How accurate is the HomeRates.ai FHA calculator?
HomeRates.ai uses a deterministic calculation engine — same inputs, same output, no AI guesswork. It adds UFMIP to the base loan before computing P&I, applies HUD 2023-05 MIP rates, checks 2026 loan limits, and uses live FRED 30-year averages. Results match what a loan officer would calculate. For educational purposes only — not a pre-approval.