FHA Loan Calculator

Q: What are the 2026 FHA loan limits?

For 2026, the FHA floor (most counties) is $498,257 for a single-family home. The ceiling (high-cost areas like San Francisco, NYC, Honolulu) is $1,149,825. Limits are set at 115% of the county's median home price. Check HUD.gov for your exact county.

Calculate your FHA mortgage payment with upfront and annual MIP, compare FHA vs conventional loans at different time horizons, and check 2026 FHA loan limits for your county.

Calculate your full FHA mortgage payment including MIP, taxes, and insurance

Home price

Down payment

FHA minimum: 3.5% (580+ credit), 10% (500-579)

Interest rate

Current FHA rates ~6.75% (March 2026)

Loan term

Property tax rate

National avg ~1.1%. TX: 1.8%, NJ: 2.2%, HI: 0.3%

Homeowners insurance

Annual premium

Credit score range

Affects minimum down payment requirement

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How to Use This Calculator

FHA Payment tab

The default tab. Enter your home price, down payment percentage, and interest rate. The calculator computes your full monthly PITI payment including principal, interest, FHA mortgage insurance premium (MIP), property tax, and homeowners insurance. The upfront MIP (1.75%) is automatically rolled into the loan. Expand "More options" to change the loan term, property tax rate, insurance amount, or credit score tier.

FHA vs Conventional tab

Enter your home price to see a side-by-side comparison of FHA (3.5% down) vs conventional loans at different down payment levels. The calculator shows total cost at 5-year, 10-year, and 30-year horizons, and finds the break-even year when conventional becomes cheaper — because FHA MIP lasts for the life of the loan while conventional PMI drops at 80% LTV.

FHA Limits tab

Select your state and enter your county to check whether your home price falls within 2026 FHA loan limits. Most counties use the floor ($541,287). High-cost areas like San Francisco, NYC, and Honolulu use the ceiling ($1,249,125) or somewhere in between. The calculator compares your loan amount from Tab 1 against these limits.

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The Formula

FHA loans add mortgage insurance premium (MIP) on top of standard principal and interest:

Monthly P&I = Loan × [r(1+r)^n] / [(1+r)^n - 1]

Where:
  Loan = (Home Price - Down Payment) + Upfront MIP
  Upfront MIP = Base Loan × 1.75%
  r = Annual Rate ÷ 12
  n = Loan Term in months

Monthly MIP = Base Loan × Annual MIP Rate ÷ 12

PITI = P&I + Monthly MIP + Property Tax/12 + Insurance/12

The key difference from conventional loans is the upfront MIP (1.75% financed into the loan) and annual MIP (0.50-0.55% for 30-year terms) that lasts for the life of the loan when LTV exceeds 90% at origination. This is the trade-off for FHA's lower down payment and more flexible credit requirements.

Example

Maria and Carlos — First-time buyers in Phoenix, AZ

Maria and Carlos are buying their first home at $340,000 with 3.5% down. Both have credit scores above 580. They secured a 6.75% FHA rate on a 30-year term. Property tax rate: 0.62% (Maricopa County). Homeowners insurance: $1,600/yr.

FHA Payment breakdown

Home price$340,000

Down payment (3.5%)$11,900

Base loan amount$328,100

Upfront MIP (1.75%)$5,742

Total financed$333,842

Monthly PITI

Principal & interest$2,165

Monthly MIP (0.55%)$150

Property tax$176

Homeowners insurance$133

Total PITI$2,624/mo

Maria and Carlos need $11,900 for their down payment. The $5,742 upfront MIP is financed into the loan, so they don't pay it out of pocket. Their total monthly housing cost is $2,624, of which $150/mo goes to FHA mortgage insurance.

FAQ

What is an FHA loan and who qualifies? ▼

An FHA loan is a mortgage insured by the Federal Housing Administration. It's designed for borrowers with lower credit scores or smaller down payments. You need a minimum credit score of 580 for 3.5% down, or 500-579 with 10% down. There's no income limit, but the property must be your primary residence and the loan must be within FHA limits for your county.

How does FHA mortgage insurance premium (MIP) work? ▼

FHA MIP has two parts: an upfront premium of 1.75% of the base loan (typically financed into the mortgage) and an annual premium of 0.50-0.55% paid monthly. For 30-year loans with less than 10% down (LTV > 90%), MIP lasts the entire life of the loan. For loans with 10%+ down, MIP drops after 11 years. This is a key disadvantage vs conventional loans, where PMI cancels automatically at 80% LTV.

What is the minimum down payment for an FHA loan? ▼

The minimum is 3.5% with a credit score of 580 or higher. If your score is between 500 and 579, you need at least 10% down. Below 500, you don't qualify for FHA. The down payment can come from savings, gifts from family, down payment assistance programs, or employer grants. It cannot come from the home seller.

What are the 2026 FHA loan limits? ▼

For 2026, the FHA floor (used by most counties) is $541,287 for a single-family home. The ceiling (for high-cost areas like San Francisco, New York City, and Honolulu) is $1,249,125. Limits are set at 115% of the county's median home price, bounded by the floor and ceiling. Multi-unit properties have higher limits. Check HUD.gov for your exact county.

Can I refinance out of an FHA loan to remove MIP? ▼

Yes. Once you build 20% equity (80% LTV), you can refinance into a conventional loan with no PMI. Many FHA borrowers plan this as a two-step strategy: use FHA to get into the home with minimal down payment, then refinance to conventional once they have enough equity. You'll need to qualify for the conventional loan based on credit, income, and current rates. FHA Streamline refinance is another option but keeps MIP.

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