What's My Payment?® FHA, VA, USDA & Conventional Mortgage Payment Calculators
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What's My Payment?® FHA, VA, USDA & Conventional Mortgage Payment Calculators

2018 FHA Loan Payment Calculator

Couple buys home with FHA loan

The loan amount you've calculated exceeds the 2018 FHA loan limit of $294,515 in most counties. Some areas have higher limits. Click the link below to verify your county limit.

View 2018 FHA Loan Limits

Common FHA Down Payments
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View Today's FHA Loan Rates

Property Tax rate: 0 Homeowner's Insurance rate: 0

FHA Payment Breakdown

Principal & Interest
FHA MIP
Monthly Escrow
FHA Loan Payment FHA

FHA Loan Breakdown

Minimum Down Payment 3.5%
Your Down Payment
Down Payment Percentage
FHA Base Loan Amount
FHA Upfront MIP
FHA Total Loan Amount

How to use our FHA loan calculator:

About FHA Loan Calculator

Our FHA loan calculator is easy to use and mobile friendly. FHA loan payments are complicated. We've made it easier to budget for the purchase of your new home with an FHA loan by creating an FHA loan calculator that accounts for all of FHA's payment quirks, including taxes, homeowner's insurance, monthly mortgage insurance, and the upfront FHA premium.

When budgeting to buy a new home, your FHA monthly payment calculations need to be precise. Thank you for choosing What’s My Payment?

FHA Loan Summary

What is an FHA loan?

Put simply, an FHA loan is a loan used to buy a family home by millions of Americans. FHA loans are typically 30 year mortgages (A mortgage is a fancy way of saying a loan with a house used as collateral) but can have 15 year terms. Most FHA loans have fixed interest rates, which means the interest rate will not change at any point throughout the loan term.

FHA loans are federally insured mortgage loans requiring only a 3.5% down payment. FHA loans can by used by first-time & experienced homebuyers alike. Our FHA payment calculator accounts for all of FHA's quirks, including upfront & annual mortgage insurance premiums.

FHA loans are mortgages backed by the Federal Housing Administration (FHA). FHA allows lenders to make mortgage loans with only 3.5% down payments. For most home buyers FHA is the mortgage option that keeps out of pocket money to a minimum.

FHA Loan Features

  • Only 3.5% Down Payment
  • Low Interest Rates
  • More Flexible Credit Standards
  • Manufactured Homes
  • 203k Renovation Loans
  • 2018 FHA Loan Limit Lookup

FHA Mortgage Insurance Premiums

Your FHA loan payment consists of two mortgage insurance premiums. The first is 1.75% of your base FHA loan amount. This premium is financed into your mortgage loan and not typically paid out of pocket. The second premium is an annual premium that is paid monthly as part of your house payment. The charts below identify how that annual rate is determined.

Example: How FHA MIP impacts your FHA loan.

30 year FHA loans & terms more than 15 years.

Loan amounts up to and including $625,500.

LTVMIPDuration
≤ 90%0.80%for 11 years
> 90% ≤ 95%0.80%for 30 years
> 95%0.85%*for 30 years
*The majority of FHA loans fall here: 0.85% UFMIP

Loan amounts more than $625,500.

LTVMIPDuration
≤ 90%1.00%for 11 years
> 90% ≤ 95%1.00%for 30 years
> 95%1.05%for 30 years

FHA loans less than or equal to 15 years.

Loan amounts up to and including $625,500.

LTVMIPDuration
≤ 90%0.45%for 11 years
> 90%0.70%for 30 years

Loan amounts more than $625,500.

LTVMIPDuration
≤ 78%0.45%for 11 years
> 78% ≤ 90%0.70%for 11 years
> 90%0.95%for 30 years

More details on how FHA mortgage insurance impacts your FHA payment.

Source: U.S. DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT Mortgagee Letter 2017-07 dated January 20, 2017

FHA County Loan Limits

FHA has a maximum loan amount that applies to every FHA loan. In most counties it is $294,515 in 2018. In areas with higher average home values, the FHA loan limit is adjusted to allow for utilization of an FHA loan for higher purchase prices.

When calculating your new FHA payment, look up the FHA loan limit to be sure you're at or below the maximum FHA loan amount.

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*All calculations on www.WhatsMyPayment.com are for demonstration purposes only. Every effort is made to maintain accurate calculations for each program listed. Actual numbers may vary.