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🏢 Real Estate

FHA Loan & MIP Calculator

Calculate monthly FHA loan payments including Upfront and Annual MIP.

⚡ Instant 🆓 Free 🔒 Private
fha loan mortgage insurance mip
Min 3.5% recommended.
FHA MIP Settings

FHA Loans and MIP Explained

FHA loans are government-backed mortgages that allow for lower down payments (as low as 3.5%) and lower credit scores. Because they are riskier for lenders, they require Mortgage Insurance Premiums (MIP).

  • Upfront MIP: A one-time fee, typically 1.75% of the loan amount, usually rolled into the mortgage.
  • Annual MIP: An ongoing monthly fee that stays with the loan for its lifetime (in most cases).

FHA loans are excellent for first-time buyers, but the long-term cost of MIP should be carefully evaluated.