fha loan mortgage calculator guide for clear monthly planning

What this tool helps you figure out

The FHA loan mortgage calculator lets you preview a realistic payment by blending principal and interest with upfront mortgage insurance (UFMIP), ongoing annual MIP, property taxes, and homeowners insurance. It’s helpful when you’re weighing the minimum 3.5% down payment against a larger one, comparing rates, or deciding between 30-year and 15-year terms.

Accuracy: It estimates, not promises. Local taxes, HOA dues, and lender overlays can shift results. Credit and debt: Adjusting the rate and debt-to-income shows how much home you can comfortably afford. Costs: See how financing UFMIP affects payment and break-even timelines.

Frequently asked questions

How accurate is it? Close enough for planning, but your lender’s disclosures rule. Does MIP ever end? With less than 10% down, annual MIP lasts for the life of the loan; with 10% or more, it can drop after 11 years. Can I compare scenarios? Save a few inputs and toggle rates, terms, and taxes to spot your comfort zone.

• Enter price, down payment, and rate.
• Pick term; include UFMIP and MIP.
• Add taxes, insurance, and HOA.
• Review P&I, escrow, and total.