FHA loan calculator 2026: payment with MIP
Type the price of the home and your down payment. The page adds the upfront and annual mortgage insurance premium (MIP) of an FHA loan. It shows your payment in a month.
That is $12,250.00.
That is $3,500.00 a year.
Total payment in a month, in the first year
$2,742.86
| Principal and interest | $2,172.17 |
|---|---|
| Monthly MIP, first year (0.55% a year) | $154.02 |
| Property tax | $291.67 |
| Home insurance | $125.00 |
| HOA dues | $0.00 |
| Total | $2,742.86 |
| Base loan | $337,750.00 |
|---|---|
| Upfront MIP (1.75%, added to the loan) | $5,910.63 |
| Total loan | $343,660.63 |
| Years of annual MIP | 30 years |
| Total interest | $438,319.39 |
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $22,224.84 | $3,841.20 | $339,819.43 |
| 2 | $21,967.58 | $4,098.46 | $335,720.97 |
| 3 | $21,693.13 | $4,372.91 | $331,348.06 |
| 4 | $21,400.26 | $4,665.78 | $326,682.28 |
| 5 | $21,087.78 | $4,978.26 | $321,704.02 |
| 6 | $20,754.37 | $5,311.67 | $316,392.35 |
| 7 | $20,398.64 | $5,667.40 | $310,724.95 |
| 8 | $20,019.07 | $6,046.97 | $304,677.98 |
| 9 | $19,614.09 | $6,451.95 | $298,226.03 |
| 10 | $19,182.00 | $6,884.04 | $291,341.99 |
| 11 | $18,720.98 | $7,345.06 | $283,996.93 |
| 12 | $18,229.05 | $7,836.99 | $276,159.94 |
| 13 | $17,704.20 | $8,361.84 | $267,798.10 |
| 14 | $17,144.16 | $8,921.88 | $258,876.22 |
| 15 | $16,546.68 | $9,519.36 | $249,356.86 |
| 16 | $15,909.14 | $10,156.90 | $239,199.96 |
| 17 | $15,228.94 | $10,837.10 | $228,362.86 |
| 18 | $14,503.15 | $11,562.89 | $216,799.97 |
| 19 | $13,728.74 | $12,337.30 | $204,462.67 |
| 20 | $12,902.50 | $13,163.54 | $191,299.13 |
| 21 | $12,020.90 | $14,045.14 | $177,253.99 |
| 22 | $11,080.29 | $14,985.75 | $162,268.24 |
| 23 | $10,076.66 | $15,989.38 | $146,278.86 |
| 24 | $9,005.83 | $17,060.21 | $129,218.65 |
| 25 | $7,863.27 | $18,202.77 | $111,015.88 |
| 26 | $6,644.19 | $19,421.85 | $91,594.03 |
| 27 | $5,343.46 | $20,722.58 | $70,871.45 |
| 28 | $3,955.66 | $22,110.38 | $48,761.07 |
| 29 | $2,474.88 | $23,591.16 | $25,169.91 |
| 30 | $894.95 | $25,169.91 | $0.00 |
The MIP rate depends on the term, the loan and the down payment. It lasts 11 years with 10% down or more, and for the whole loan with less. The rules are from HUD Mortgagee Letter 2023-05. The FHA loan limit for one home in 2026 is $541,287 in most areas and up to $1,249,125 in the costliest areas.
This is an estimate. It is not an offer of credit. Your lender can give other numbers.
How to use the calculator
- Type the price of the home. The down payment starts at the FHA minimum of 3.5%.
- Type the interest rate. Choose a term of 15 or 30 years.
- Type the property tax, the home insurance and the HOA dues.
- Read the total loan, the MIP and your payment in a month.
Questions
How much is an FHA loan payment on a $350,000 home?
With 3.5% down ($12,250), a rate of 6.5% and 30 years, the loan is $343,660.63. Principal and interest is $2,172.17 a month. The monthly MIP is $154.02 in the first year. With property tax and insurance, the total is $2,742.86 a month.
What is the upfront MIP?
It is a fee of 1.75% of the base loan. You can add it to the loan. In the example, it is $5,910.63, and the base loan of $337,750.00 grows to $343,660.63.
What is the annual MIP, and when does it end?
The annual MIP is a share of your balance, paid each month. The rate depends on the term, the loan amount and the down payment. In the example it is 0.55%. With less than 10% down, it lasts for the whole loan. With 10% down or more, it lasts 11 years. HUD sets the rates in Mortgagee Letter 2023-05.
How much down payment does an FHA loan need?
The minimum is 3.5% of the price with a credit score of 580 or more. On a $350,000 home that is $12,250. A score from 500 to 579 needs 10% down.
What are the FHA loan limits for 2026?
For one home, the limit is $541,287 in most areas and up to $1,249,125 in the costliest areas. Look up your county on the HUD site.