FHA Loan
FHA Mortgage Calculator
FHA loans are popular with first-time and lower-down-payment buyers. This calculator includes the 1.75% upfront mortgage insurance premium (rolled into the loan) and the annual MIP that stays on the payment.
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LTV: 96.500% — FHA requires 3.5% down (580+ score)
Affects eligibility, not the MIP rate directly
Estimated first-year monthly payment
$2,763.69
$2,172.17 P&I + $154.02 MIP
Base loan amount
$337,750.00
LTV 96.500%
Upfront MIP (1.75%)
$5,910.63
Rolled into loan
Total loan amount
$343,660.63
Annual MIP rate
0.550%
$154.02/mo
Yearly Amortization Preview
| Year | Interest | Principal | Balance |
|---|---|---|---|
| 1 | $22,224.84 | $3,841.18 | $339,819.44 |
| 2 | $21,967.59 | $4,098.43 | $335,721.01 |
| 3 | $21,693.11 | $4,372.91 | $331,348.10 |
| 4 | $21,400.25 | $4,665.78 | $326,682.32 |
| 5 | $21,087.78 | $4,978.25 | $321,704.07 |
| 6 | $20,754.37 | $5,311.65 | $316,392.42 |
| 7 | $20,398.64 | $5,667.38 | $310,725.03 |
| 8 | $20,019.09 | $6,046.94 | $304,678.09 |
| 9 | $19,614.11 | $6,451.91 | $298,226.18 |
| 10 | $19,182.02 | $6,884.01 | $291,342.17 |
| 11 | $18,720.98 | $7,345.05 | $283,997.12 |
| 12 | $18,229.07 | $7,836.96 | $276,160.16 |
| 13 | $17,704.21 | $8,361.81 | $267,798.35 |
| 14 | $17,144.21 | $8,921.82 | $258,876.53 |
| 15 | $16,546.70 | $9,519.33 | $249,357.20 |
| 16 | $15,909.17 | $10,156.86 | $239,200.34 |
| 17 | $15,228.95 | $10,837.08 | $228,363.26 |
| 18 | $14,503.17 | $11,562.86 | $216,800.40 |
| 19 | $13,728.78 | $12,337.25 | $204,463.15 |
| 20 | $12,902.53 | $13,163.49 | $191,299.66 |
| 21 | $12,020.95 | $14,045.08 | $177,254.58 |
| 22 | $11,080.32 | $14,985.70 | $162,268.88 |
| 23 | $10,076.70 | $15,989.32 | $146,279.55 |
| 24 | $9,005.87 | $17,060.16 | $129,219.39 |
| 25 | $7,863.32 | $18,202.71 | $111,016.69 |
| 26 | $6,644.25 | $19,421.78 | $91,594.91 |
| 27 | $5,343.54 | $20,722.49 | $70,872.42 |
| 28 | $3,955.71 | $22,110.31 | $48,762.10 |
| 29 | $2,474.94 | $23,591.08 | $25,171.02 |
| 30 | $895.01 | $25,171.02 | $0.00 |
How this is calculated
- Upfront MIP is 1.75% of the base loan and is financed into the loan amount.
- Annual MIP rate is 0.550% based on your LTV, term, and loan size (high-balance loans use higher rates).
- FHA requires 3.5% down with a 580+ credit score (10% down for 500–579).
- Monthly MIP uses the first-year average scheduled balance, excluding financed upfront MIP. It is recalculated annually. MIP lasts 11 years at 90% LTV or less; otherwise it lasts the loan term.
- Monthly payment = principal + interest + annual MIP + tax + insurance + HOA.
Important disclaimer
The figures produced by this calculator are estimates provided for informational and educational purposes only. They are not a commitment to lend, a loan estimate, or a guarantee of any terms, rate, or approval.
Actual costs depend on many factors the tool cannot fully account for, including your specific loan program, the property's location and type, your credit profile, debt-to-income ratio, income documentation, current market interest rates, mortgage insurance requirements, taxes, and insurance premiums.
Interest rates, fees, and program guidelines change frequently. For an accurate quote tailored to your situation, connect with a One Eleven Mortgage loan officer who can review your complete financial picture and provide live, personalized numbers.
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