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FHA Down Payments
FHA guidelines generally permit 3.5% down with a qualifying credit score of at least 580. Scores from 500–579 generally require at least 10% down. Lender overlays, property requirements, and full underwriting still apply.
iLOAN FHA MORTGAGE CALCULATOR
Calculate Your FHA Mortgage Payment
Estimate FHA mortgage payments, down payments, mortgage insurance, and home purchase costs.
FHA Home Purchase Details
Enter your purchase price, down payment, and illustrative financing assumptions.
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FHA Down Payment
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FHA guidelines generally allow a 3.5% minimum down payment with qualifying credit scores of 580 or higher. Scores of 500–579 generally require at least 10% down. Lender overlays, property eligibility, and underwriting apply.
FHA Mortgage Loan Term
FHA Mortgage Insurance
These are illustrative FHA MIP assumptions. Applicable rates depend on the loan term, base loan amount, original loan-to-value ratio, and current FHA requirements. The calculation engine will apply program-based MIP assumptions.
Monthly Housing Expenses
Closing Costs & Credits
Closing costs are estimates and should exclude upfront MIP if it is calculated separately. Seller credits are subject to FHA limits and eligible expenses. Earnest money is assumed credited at closing.
Your Estimated FHA Mortgage Payment
Review your estimated monthly payment, FHA mortgage insurance, financing details, and cash needed at closing.
Estimated Total Monthly FHA Payment
Calculating…
Includes estimated principal, interest,
FHA monthly mortgage insurance,
property taxes, homeowners insurance,
and HOA dues.
Monthly Payment Breakdown
Principal & Interest
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Property Taxes
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Homeowners Insurance
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Estimated Monthly FHA MIP
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HOA Dues
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FHA Purchase Financing
Home Purchase Price
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Down Payment
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Base FHA Loan Amount
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Upfront FHA MIP
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Total FHA Loan Amount
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Original Loan-to-Value Ratio
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FHA Mortgage Insurance Details
Illustrative Annual MIP Rate
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Estimated Annual MIP Duration
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Estimated Remaining Cash Needed at Closing
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Includes down payment, estimated closing
costs, and any upfront MIP not financed,
less eligible seller credits and earnest money.
Understanding FHA Mortgage Insurance
FHA loans generally require both an upfront mortgage insurance premium and an annual premium collected monthly. Depending on the original loan term, loan amount, and loan-to-value ratio, annual MIP may apply for 11 years or for the mortgage term under applicable FHA requirements. Refinancing into an eligible conventional mortgage may be one option to remove FHA MIP, subject to qualification, equity, and refinancing costs.
Results will appear when the calculation engine is activated.
IMPORTANT FHA CALCULATOR DISCLOSURE: This calculator provides hypothetical educational estimates only. Interest rates displayed or entered do not represent current iLoan rates, advertised loan terms, or an offer of credit. FHA mortgage insurance premiums depend on the applicable HUD rules, base loan amount, loan term, original LTV, and other program factors. The monthly MIP estimate may differ from the actual lender calculation and can change as the loan amortizes. FHA loan limits vary by county and property type. Calculator results do not establish property or borrower eligibility. Credit scores of 500–579 generally require at least 10% down under FHA guidelines, while scores of 580 or higher may qualify with 3.5% down, subject to lender overlays and full underwriting. Closing cost estimates assume applicable prepaid expenses and initial escrow deposits are included. Seller credits are subject to FHA restrictions and eligible cost limitations. Earnest money is assumed credited at closing. Actual interest rates, APR, payments, mortgage insurance, closing costs, and required funds may vary. Results are not a Loan Estimate, mortgage approval, or commitment to lend.
UNDERSTANDING FHA MORTGAGE FINANCING
What Goes Into Your FHA Mortgage Payment?
FHA loans offer flexible financing options for eligible homebuyers. Understanding down payments, mortgage insurance, and ongoing housing expenses can help you plan your purchase with confidence.
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Upfront FHA Mortgage Insurance
Most standard FHA purchase loans require an upfront mortgage insurance premium, commonly 1.75% of the base loan amount. Eligible borrowers can generally finance this premium into the loan or pay it at closing.
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Annual FHA Mortgage Insurance
FHA also generally charges annual mortgage insurance, collected through monthly payments. The premium rate depends on the applicable FHA rules, loan amount, repayment term, and original LTV.
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Taxes, Insurance & HOA
Your total monthly housing expenses may also include property taxes, homeowners insurance, and HOA dues. These amounts vary by property and should be included when planning your housing budget.
Example: Understanding FHA Upfront MIP
Consider a hypothetical $300,000 home purchase with a 3.5% down payment. The base FHA loan amount would be $289,500.
Using an illustrative 1.75% upfront mortgage insurance premium, the upfront MIP would be $5,066.25. If financed, this premium increases the mortgage balance rather than requiring that amount upfront.
Financing upfront MIP also increases principal-and-interest costs over the repayment period.
Home Purchase Price
$300,000
Down Payment (3.5%)
$10,500
Base FHA Loan
$289,500
Upfront MIP (1.75%)
$5,066.25
Total Loan With Financed Upfront MIP
$294,566.25
Can You Remove FHA Mortgage Insurance?
Depending on the applicable FHA rules, annual MIP may last 11 years or for the mortgage term. Homeowners who qualify may consider refinancing into a conventional mortgage to eliminate FHA MIP, although conventional PMI may still apply. Compare refinancing costs, equity, rates, and loan terms before deciding.
Important FHA Financing Disclosure: All examples are hypothetical and for educational purposes only. FHA loan limits vary by county and property type. Mortgage insurance premiums, minimum investments, credit requirements, and underwriting standards depend on applicable HUD rules and lender requirements. Actual interest rates, APR, closing costs, insurance premiums, and payments may differ. This information is not a Loan Estimate, loan approval, offer of credit, or commitment to lend.
FHA QUESTIONS ANSWERED
FHA Mortgage Calculator FAQs
Understand FHA down payments, credit scores, mortgage insurance, loan limits, and estimated home purchase costs.
What credit score do I need for an FHA loan?
FHA guidelines generally permit a minimum required investment of 3.5% for borrowers with qualifying credit scores of 580 or higher. Borrowers with scores of 500–579 generally require at least 10% down.
Individual lenders may impose higher minimum credit score requirements. Credit history, income, debts, property eligibility, and full underwriting also affect qualification.
How much is the minimum FHA down payment?
The minimum required investment for many eligible FHA purchase transactions is 3.5% of the applicable property value. Borrowers with credit scores of 500–579 generally require at least 10%.
Closing costs, prepaid expenses, and initial escrow deposits may require additional funds. Certain eligible gift funds or assistance programs may help with permitted expenses.
What is FHA upfront mortgage insurance?
Most standard FHA purchase loans include an upfront mortgage insurance premium, commonly 1.75% of the base loan amount.
The premium may generally be financed into the mortgage or paid at closing. Financing it increases the outstanding loan balance and interest costs.
How long do I pay FHA mortgage insurance?
For many FHA loans under the current general framework, annual mortgage insurance lasts 11 years when the original loan-to-value ratio is 90% or less.
When original LTV exceeds 90%, annual mortgage insurance generally continues for the mortgage term. Applicable rules depend on the loan origination and program requirements.
Can I remove FHA mortgage insurance?
Depending on the applicable FHA rules, annual mortgage insurance may not automatically end when your home reaches 20% equity.
One possible option is refinancing into a conventional mortgage when you qualify. Conventional private mortgage insurance may still apply, and refinancing costs and rates should be evaluated.
Explore our mortgage refinance options .
Are FHA loan limits the same everywhere?
No. FHA mortgage limits vary by county, property type, and applicable federal housing requirements.
A calculator payment estimate does not confirm that a particular loan amount is within the FHA limit for the property’s location.
Can FHA seller credits help pay closing costs?
FHA financing generally permits eligible interested-party contributions toward certain closing costs and prepaid expenses, subject to applicable program restrictions.
Such contributions cannot simply replace the borrower’s required minimum investment. Actual allowable credits must be reviewed by the lender.
Does using this FHA calculator affect my credit?
No. Using the calculator does not require a credit application or credit inquiry.
A credit report may be obtained if you later apply for mortgage financing. Calculator estimates are not a pre-approval or commitment to lend.
