FHA Mortgage Calculator

Using our FHA mortgage calculator is simple: Enter the home price, down payment percentage, loan term, and interest rate. The calculator will automatically compute your monthly payment, breaking down principal, interest, and mortgage insurance components.

To qualify for an FHA loan, you typically need a credit score of at least 580 for the 3.5% down payment option. Borrowers with credit scores between 500-579 may qualify with a 10% down payment. You'll also need a steady employment history and a debt-to-income ratio that meets lender requirements.

FHA loans require both an upfront mortgage insurance premium (UFMIP) and an annual mortgage insurance premium (MIP). The UFMIP is typically 1.75% of the loan amount, while the annual MIP ranges from 0.45% to 1.05% depending on loan term, loan amount, and loan-to-value ratio.

You can lower your FHA mortgage payment by: making a larger down payment, improving your credit score to qualify for a better interest rate, choosing a longer loan term, or shopping around for the best mortgage insurance rates. Refinancing when rates drop is another option to consider.

The doughnut chart visually represents the composition of your monthly mortgage payment. It shows what percentage of your payment goes toward principal, interest, and mortgage insurance. This helps you understand how your payment is allocated and how it might change over time.