FHA Loan Calculator with PMI and Taxes

Calculate FHA loan payments including PMI, property taxes, and insurance with this comprehensive mortgage calculator.

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Worked Example & Common Values

Below is a sample worked calculation demonstrating how FHA Loan Calculator with PMI and Taxes processes input data instantly inside your browser.

Sample Input $1,200 Loan Principal, 6% Interest Rate, 12 Months duration

Computed Result Monthly Payment: $103.28 | Total Interest Paid: $39.36

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About This Tool

This FHA loan calculator helps you estimate your monthly mortgage payment including all major components: principal and interest, private mortgage insurance (PMI), property taxes, and homeowners insurance. Simply enter your home price, down payment, loan term, interest rate, and other details to get an accurate breakdown of your monthly costs. The calculator follows standard FHA guidelines including the 3.5% minimum down payment requirement and displays both monthly and annual totals for better financial planning.

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How to Use

Enter the home purchase price in the first field
Input your down payment amount or percentage (minimum
5% for FHA loans)
Select your loan term (15 or 30 years)
Enter the annual interest rate for your FHA loan
Provide annual property tax and homeowners insurance amounts
Enter the PMI rate (typically
55% to
05% annually)
Click 'Calculate Payment' to see your detailed monthly breakdown
Review the results including principal & interest, PMI, taxes, insurance, and total monthly payment

Frequently Asked Questions

Find Quick Answers

What is the minimum down payment for an FHA loan?

FHA loans require a minimum down payment of 3.5% of the home purchase price for borrowers with a credit score of 580 or higher.

How is PMI calculated for FHA loans?

FHA loans have Mortgage Insurance Premiums (MIP) rather than traditional PMI. This calculator uses the annual MIP rate which is typically between 0.55% and 1.05% of the loan amount, divided by 12 for monthly payments.

Are property taxes and insurance included in FHA loan payments?

Yes, FHA loans typically require borrowers to escrow property taxes and homeowners insurance, so these costs are included in your monthly mortgage payment calculation.

What loan terms are available for FHA loans?

FHA loans are commonly available in 15-year and 30-year fixed-rate terms. This calculator supports both options.

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