Mortgage PWA

FHA Loan Calculator

United States

Monthly payment

$2,801

Biweekly

$2,011

Price & down payment

Taxes, insurance, and fees

Extra payments

Payment schedule

FAQs

FHA Loan Calculator — frequently asked questions

Straight answers about taxes, PMI, extra payments, and biweekly schedules.

What is the minimum down payment for FHA?+

FHA allows 3.5% down for borrowers with a credit score of 580 or higher. Those with 500–579 may need 10% down. The calculator defaults to 3.5%.

How is FHA MIP different from PMI?+

FHA charges both upfront MIP (at closing) and annual MIP (in monthly payments). We model the annual portion. MIP often lasts the life of the loan for 3.5% down loans.

Can I remove FHA MIP?+

For loans with 3.5% down, MIP typically lasts 11 years or the life of the loan. Refinancing to a conventional loan once you have 20% equity can remove it.

What are FHA loan limits?+

FHA sets county-level limits. In 2025, the floor is $498,257 and the ceiling is $1,149,825 in high-cost areas. Check your county for exact limits.

Does the calculator include the FHA upfront MIP?+

Upfront MIP (1.75% of the loan amount) is a closing cost. The calculator focuses on monthly payments. Add it to your closing cost estimate separately.

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