FHA Loan Calculator: Low Down Payment Mortgage Estimate

FHA loans allow homebuyers with credit scores as low as 580 to purchase a home with just 3.5 percent down, making homeownership accessible to millions who cannot qualify for conventional loans. Our calculator estimates your total monthly FHA payment including principal, interest, upfront MIP, annual MIP, property taxes, and insurance.

The upfront mortgage insurance premium of 1.75 percent is typically financed into the loan, while annual MIP of 0.55 percent is added to your monthly payment for the life of the loan if you put less than 10 percent down. The calculator breaks down exactly how much MIP adds to your monthly and total costs so you can compare against conventional PMI.

FHA loan limits vary by county and range from 498,257 to over 1,149,825 dollars in high-cost areas for 2026. Use our down payment calculator to see how saving for a larger down payment reduces your MIP costs, and our credit score simulator to plan improvements that could qualify you for better rates.