Calculate monthly FHA mortgage payments, Upfront MIP (1.75%), Annual MIP insurance, and total out-of-pocket costs with complete PITI breakdowns and dynamic amortization schedules.
• Upfront MIP (1.75%): Standard HUD mortgage insurance premium financed into the loan amount at closing.
• Annual MIP (0.55% / 0.50%): Paid monthly as part of your mortgage escrow. If down payment is $\ge 10\%$, MIP drops off after 11 years; otherwise, it remains for the life of the loan.
$3,157.54
Total Monthly with Escrow: $4,503.68| Component | Monthly | Total |
|---|---|---|
| Mortgage Payment (P&I) | $3,157.54 | $1,136,713.68 |
| Property Tax | $500.00 | $180,000.00 |
| Home Insurance | $208.33 | $75,000.00 |
| Annual MIP | $221.15 | $79,612.50 |
| Other Costs | $416.67 | $150,000.00 |
| Total Out-of-Pocket | $4,503.68 | $1,621,326.18 |
Updated daily reference mortgage rates
Review how each monthly installment pays down principal vs interest over time.
| Year | Date | Interest | Principal | Ending Balance |
|---|---|---|---|---|
| Year 1 | 2027 | $32,575.65 | $5,314.81 | $485,628.94 |
| Year 2 | 2028 | $32,210.22 | $5,680.23 | $479,948.71 |
| Year 3 | 2029 | $31,819.67 | $6,070.78 | $473,877.93 |
| Year 4 | 2030 | $31,402.27 | $6,488.18 | $467,389.75 |
| Year 5 | 2031 | $30,956.17 | $6,934.29 | $460,455.46 |
| Year 6 | 2032 | $30,479.39 | $7,411.06 | $453,044.40 |
| Year 7 | 2033 | $29,969.84 | $7,920.62 | $445,123.78 |
| Year 8 | 2034 | $29,425.25 | $8,465.21 | $436,658.57 |
| Year 9 | 2035 | $28,843.21 | $9,047.24 | $427,611.33 |
| Year 10 | 2036 | $28,221.16 | $9,669.29 | $417,942.04 |
| Year 11 | 2037 | $27,556.34 | $10,334.12 | $407,607.92 |
| Year 12 | 2038 | $26,845.81 | $11,044.65 | $396,563.27 |
| Year 13 | 2039 | $26,086.42 | $11,804.04 | $384,759.23 |
| Year 14 | 2040 | $25,274.82 | $12,615.64 | $372,143.59 |
| Year 15 | 2041 | $24,407.42 | $13,483.04 | $358,660.55 |
| Year 16 | 2042 | $23,480.38 | $14,410.08 | $344,250.47 |
| Year 17 | 2043 | $22,489.60 | $15,400.86 | $328,849.61 |
| Year 18 | 2044 | $21,430.69 | $16,459.76 | $312,389.85 |
| Year 19 | 2045 | $20,298.98 | $17,591.47 | $294,798.38 |
| Year 20 | 2046 | $19,089.46 | $18,800.99 | $275,997.39 |
| Year 21 | 2047 | $17,796.78 | $20,093.67 | $255,903.72 |
| Year 22 | 2048 | $16,415.22 | $21,475.24 | $234,428.48 |
| Year 23 | 2049 | $14,938.67 | $22,951.79 | $211,476.69 |
| Year 24 | 2050 | $13,360.59 | $24,529.86 | $186,946.83 |
| Year 25 | 2051 | $11,674.02 | $26,216.44 | $160,730.39 |
| Year 26 | 2052 | $9,871.48 | $28,018.98 | $132,711.40 |
| Year 27 | 2053 | $7,945.00 | $29,945.46 | $102,765.95 |
| Year 28 | 2054 | $5,886.07 | $32,004.39 | $70,761.56 |
| Year 29 | 2055 | $3,685.57 | $34,204.88 | $36,556.68 |
| Year 30 | 2056 | $1,333.78 | $36,556.68 | $0.00 |
An FHA loan is a mortgage insured by the Federal Housing Administration (HUD). Designed to help first-time homebuyers and borrowers with moderate incomes or lower credit scores, FHA loans allow down payments as low as 3.5%. To protect lenders against default, all FHA loans require two types of mortgage insurance:
A one-time premium equal to 1.75% of the base loan amount. It is almost always rolled into and financed as part of the total mortgage principal rather than paid out-of-pocket at closing.
An ongoing premium paid in 12 monthly installments. For typical 30-year loans with 3.5% down, the annual rate is 0.55%. If you put down 10% or more, the annual MIP automatically cancels after 11 years.
| Base Loan | LTV | MIP Rate | Duration |
|---|---|---|---|
| ≤ $726,200 | ≤ 95.0% | 0.50% | 11 Yrs (LTV≤90%) / Term |
| ≤ $726,200 | > 95.0% | 0.55% | Loan Term |
| > $726,200 | ≤ 95.0% | 0.70% | 11 Yrs (LTV≤90%) / Term |
| > $726,200 | > 95.0% | 0.75% | Loan Term |
| Base Loan | LTV | MIP Rate | Duration |
|---|---|---|---|
| ≤ $726,200 | ≤ 90.0% | 0.15% | 11 Years |
| ≤ $726,200 | > 90.0% | 0.40% | Loan Term |
| > $726,200 | ≤ 78.0% | 0.15% | 11 Years |
| > $726,200 | > 90.0% | 0.65% | Loan Term |
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