Estimate FHA mortgage payments including MIP, taxes, and insurance.
Monthly payment includes principal and interest on the loan plus annual and upfront MIP, taxes, and insurance.
A $300,000 FHA loan at 6.5% with 3.5% down has a base P&I payment near $1,896 before MIP, taxes, and insurance.
A government-backed mortgage requiring as little as 3.5% down, popular with first-time buyers, but it requires mortgage insurance premiums (MIP).
Mortgage Insurance Premium is the FHA's insurance charge, paid as an upfront premium and a monthly premium, required for most FHA loans.
On most FHA loans with less than 10% down, MIP lasts for the life of the loan. Refinancing to a conventional loan is the common way to remove it.
Browse all Financial Calculators