FHA Loan Calculator
Enter price, down payment, and term. Upfront and annual MIP come from the HUD table. Estimates only.
Smart Tips
• Upfront MIP is 1.75% of the base loan, from Mortgagee Letter 2023-05.
• Annual MIP depends on term, LTV, and whether the base loan is above the $726,200 figure printed in that letter.
• The monthly MIP shown is base loan × annual rate ÷ 12, held level for the letter’s duration.
• You type the note rate. This page does not quote an FHA rate.
The Formula
Before upfront MIP
Financed or paid in cash
Picks the annual row
Rounded down to the dollar
A term of 15 years uses the 15-years-or-less rows. A longer term uses the other rows. The base-loan cutoff in the printed table is $726,200. Duration is 11 years or the full term, whichever the row says, and never longer than the loan. The headline payment adds the level monthly MIP to principal and interest.
Key Insights
Table year 2023
Rates are Mortgagee Letter 2023-05, effective March 20, 2023. The letter’s printed cutoff is $726,200.
LTV uses the base loan
Down payment changes both the base loan and the LTV band.
MIP can end before the loan
Rows marked 11 years drop the monthly MIP after 132 months. Higher-LTV rows keep it for the term.
Not a case-number quote
Streamline refinances of loans endorsed on or before May 31, 2009, and Section 247, use other rows that this purchase page does not apply.
FHA MIP chart
| Term | Base loan | LTV | Annual MIP | Duration |
|---|---|---|---|---|
| More than 15 years | $726,200 or less | 90% or less | 0.50% | 11 years |
| More than 15 years | $726,200 or less | Above 90% to 95% | 0.50% | Mortgage term |
| More than 15 years | $726,200 or less | Above 95% | 0.55% | Mortgage term |
| More than 15 years | Above $726,200 | 90% or less | 0.70% | 11 years |
| More than 15 years | Above $726,200 | Above 90% to 95% | 0.70% | Mortgage term |
| More than 15 years | Above $726,200 | Above 95% | 0.75% | Mortgage term |
| 15 years or less | $726,200 or less | 90% or less | 0.15% | 11 years |
| 15 years or less | $726,200 or less | Above 90% | 0.40% | Mortgage term |
| 15 years or less | Above $726,200 | 78% or less | 0.15% | 11 years |
| 15 years or less | Above $726,200 | Above 78% to 90% | 0.40% | 11 years |
| 15 years or less | Above $726,200 | Above 90% | 0.65% | Mortgage term |
Table year: effective March 20, 2023, Mortgagee Letter 2023-05. Upfront MIP is 1.75% of the base loan amount. The $726,200 cutoff is the figure printed in that letter. Streamline refinances and Section 247 Hawaiian Home Lands are not in this purchase table.
Frequently Asked Questions
Note:MIP rates are Mortgagee Letter 2023-05, effective March 20, 2023, including the printed $726,200 base-loan cutoff. The note rate is the one you type. This is an estimate, not an FHA case quote.