{
    "name": "FHA Loan Calculator",
    "url": "https://calculators.geekmidst.com/calculators/fha-loan-calculator",
    "markdown": "https://calculators.geekmidst.com/calculators/fha-loan-calculator.md",
    "category": "Finance",
    "description": "Estimate an FHA mortgage payment including the 1.75% upfront and the annual mortgage insurance premium from HUD’s current MIP table, plus tax and insurance.",
    "summary": "FHA loans are insured by the US Federal Housing Administration, so borrowers pay mortgage insurance twice: an upfront premium usually added to the loan, and an annual premium paid monthly. This calculator applies HUD’s current premium table to your loan.",
    "also_called": [
        "FHA mortgage calculator"
    ],
    "applies_to": "United States",
    "last_updated": "2026-10-29",
    "computation": "Results are computed in the visitor’s browser on the HTML page. This API describes the calculator; it does not compute results.",
    "inputs": [
        {
            "name": "price",
            "label": "Home price",
            "type": "number",
            "default": "300000"
        },
        {
            "name": "down_pct",
            "label": "Down payment",
            "type": "number",
            "default": "3.5",
            "unit": "%"
        },
        {
            "name": "rate",
            "label": "Interest rate (per year)",
            "type": "number",
            "default": "6.5",
            "unit": "%"
        },
        {
            "name": "years",
            "label": "Loan term",
            "type": "select",
            "default": "30",
            "options": {
                "10": "10 years",
                "15": "15 years",
                "20": "20 years",
                "25": "25 years",
                "30": "30 years"
            }
        },
        {
            "name": "finance_ufmip",
            "label": "Upfront MIP",
            "type": "segmented",
            "default": "yes",
            "options": {
                "yes": "Add to loan",
                "no": "Pay in cash"
            }
        },
        {
            "name": "tax",
            "label": "Property tax (per year)",
            "type": "number",
            "default": "3000",
            "optional": true
        },
        {
            "name": "insurance",
            "label": "Homeowners insurance (per year)",
            "type": "number",
            "default": "1200",
            "optional": true
        },
        {
            "name": "hoa",
            "label": "HOA dues (per month)",
            "type": "number",
            "default": "0",
            "optional": true
        },
        {
            "name": "mip_override",
            "label": "Annual MIP rate (optional)",
            "type": "number",
            "default": "",
            "unit": "%",
            "optional": true
        },
        {
            "name": "currency",
            "label": "Currency",
            "type": "currency",
            "default": "USD"
        }
    ],
    "outputs": [
        {
            "key": "monthly_total",
            "label": "Total monthly payment",
            "format": "currency"
        },
        {
            "key": "monthly_pi",
            "label": "Principal and interest",
            "format": "currency"
        },
        {
            "key": "monthly_mip",
            "label": "Monthly MIP (first-year estimate)",
            "format": "currency"
        },
        {
            "key": "ufmip",
            "label": "Upfront MIP (1.75%)",
            "format": "currency"
        },
        {
            "key": "loan_amount",
            "label": "Total loan amount",
            "format": "currency"
        },
        {
            "key": "ltv",
            "label": "Loan-to-value (base loan)",
            "format": "percent"
        },
        {
            "key": "annual_mip_rate",
            "label": "Annual MIP rate",
            "format": "percent"
        },
        {
            "key": "mip_duration",
            "label": "Annual MIP is paid for",
            "format": "text"
        },
        {
            "key": "total_interest",
            "label": "Total interest over the term",
            "format": "currency"
        }
    ],
    "formula": {
        "text": "Base loan B = Price × (1 − Down%);  UFMIP = 1.75% × B;  Loan L = B + UFMIP (if financed);  P&I = PMT(L, rate ÷ 12, n);  Monthly MIP ≈ B × annual MIP rate ÷ 12",
        "variables": {
            "B": "base loan amount before the upfront premium",
            "annual MIP rate": "from HUD’s table by term (over 15 years or not), base loan amount (above or below $726,200) and loan-to-value",
            "n": "term in months"
        }
    },
    "worked_example": {
        "inputs": {
            "price": "300000",
            "down_pct": "3.5",
            "rate": "6.5",
            "years": "30",
            "finance_ufmip": "yes",
            "tax": "3000",
            "insurance": "1200",
            "hoa": "0",
            "mip_override": "",
            "currency": "USD"
        },
        "steps": [
            "Base loan = 300,000 × 96.5% = $289,500 (LTV 96.5%); upfront MIP = 1.75% × 289,500 = $5,066.25, added to give a $294,566.25 loan.",
            "P&I on $294,566.25 at 6.5% over 360 months = $1,861.86.",
            "A 30-year loan at 96.5% LTV under $726,200 pays 0.55% a year: 289,500 × 0.55% ÷ 12 = $132.69 a month, for the life of the loan.",
            "Tax and insurance = (3,000 + 1,200) ÷ 12 = $350, so the total is $2,344.55."
        ],
        "result": "With 3.5% down on a $300,000 home, the FHA payment is about $2,345 a month, of which $132.69 is mortgage insurance."
    },
    "interpretation": "With less than 10% down, the annual MIP stays for the whole loan; the usual way to remove it is to refinance into a conventional loan once you have enough equity. Compare the total monthly payment with a conventional quote that includes private mortgage insurance.",
    "assumptions": [
        "MIP rates are HUD’s schedule in Mortgagee Letter 2023-05 for forward mortgages endorsed on or after 20 March 2023 (standard purchase loans; streamline refinances and Hawaiian Home Lands loans differ).",
        "Monthly MIP is estimated on the base loan amount; lenders recalculate it each year on the average outstanding balance, so it falls slowly over time.",
        "Fixed-rate loan with level monthly payments."
    ],
    "limitations": [
        "FHA loan limits, credit-score rules for the minimum down payment, and lender overlays are not checked.",
        "Closing costs and HOA special assessments are not included."
    ],
    "rules": {
        "jurisdiction": "United States",
        "effective_from": "2023-03-20",
        "authority": "US Department of Housing and Urban Development (FHA)",
        "checked": "2026-10-29",
        "review_after": "2027-04-29"
    },
    "faqs": [
        {
            "question": "How long do I pay FHA mortgage insurance?",
            "answer": "Under HUD’s current table, 11 years if your loan-to-value at the start is 90% or less, and for the life of the loan if it is above 90%."
        },
        {
            "question": "Can I pay the upfront MIP in cash?",
            "answer": "Yes. Paying it at closing keeps the loan amount lower; most borrowers add it to the loan instead. Switch the option to compare."
        }
    ],
    "sources": [
        {
            "title": "HUD Mortgagee Letter 2023-05: Reduction of FHA annual MIP",
            "url": "https://archives.hud.gov/news/2024/2023-05hsgml.pdf"
        },
        {
            "title": "US Department of Housing and Urban Development",
            "url": "https://www.hud.gov/"
        }
    ],
    "related": [
        {
            "name": "Mortgage Calculator",
            "url": "https://calculators.geekmidst.com/calculators/mortgage-calculator"
        },
        {
            "name": "VA Mortgage Calculator",
            "url": "https://calculators.geekmidst.com/calculators/va-mortgage-calculator"
        },
        {
            "name": "Down Payment Calculator",
            "url": "https://calculators.geekmidst.com/calculators/down-payment-calculator"
        },
        {
            "name": "Mortgage Amortization Calculator",
            "url": "https://calculators.geekmidst.com/calculators/mortgage-amortization-calculator"
        }
    ],
    "disclaimer": "This calculator gives estimates for planning. It is not financial advice, and lenders’ actual terms, fees and rounding may differ.",
    "publisher": "GM¹X CalcVerse"
}