FHA Loan Calculator 2026
Your 2026 FHA mortgage payment: 3.5% down, the 1.75% upfront MIP, the annual MIP rate and duration for your LTV, taxes, insurance and HOA, the county limit check ($541,287 floor / $1,249,125 ceiling) and a conventional-loan comparison — HUD figures confirmed.
| Down payment | — |
|---|---|
| Base loan amount | — |
| Upfront MIP (1.75%, financed) | — |
| Total loan amount | — |
| 2026 FHA limit check | — |
| Principal and interest | — |
| Annual MIP | — |
| Taxes, insurance, HOA | — |
| Total monthly payment | — |
| MIP over the life of the loan | — |
| Compared with a conventional loan at the same rate | — |
In short
An FHA loan needs 3.5% down (580+ credit score) and charges mortgage insurance twice: 1.75% of the loan upfront, usually financed, and an annual MIP of 0.55% for the typical 30-year loan with under 5% down (0.50% with 5–10% down, 0.70–0.75% above $726,200), paid monthly for the life of the loan unless you put 10% down. The 2026 one-unit limit is $541,287 in most counties and up to $1,249,125 in high-cost areas.
Who this is for: US first-time and lower-credit buyers comparing FHA with a conventional loan.
FHA loans in 2026: limits, MIP and who they suit
- 2026 limits: $541,287 for a one-unit home in standard counties, up to $1,249,125 in high-cost counties (2–4 units: $693,050 / $837,700 / $1,041,125 floors). The HECM reverse-mortgage limit is also $1,249,125.
- Upfront MIP: 1.75% of the base loan, almost always financed into the loan.
- Annual MIP (30-year loans): 0.55% with less than 5% down, 0.50% with 5–10% down (both for the life of the loan), 0.50% for 11 years with 10%+ down; 0.70–0.75% for base loans above $726,200. 15-year loans pay 0.15–0.65%.
- FHA vs conventional: FHA wins on low credit scores (580–680) and high DTI; conventional wins when PMI is cheap (good credit) and because PMI cancels at 80% LTV while most FHA MIP never does. Many buyers start FHA and refinance later.
- Other costs: property tax, insurance and HOA dues are escrowed on top of P&I; the FHA appraisal has stricter property-condition rules.
See also: Debt-to-Income Ratio Calculator.
Assumptions
- Base loan = price − down; upfront MIP 1.75% financed; P&I on the total loan.
- Annual MIP from the HUD 2023-05 table by term, base loan (≤ / > $726,200) and LTV; charged on the average annual balance; 11 years or life.
- County limit check uses the 2026 floor or ceiling for 1–4 units; conventional comparison assumes 0.75% PMI above 80% LTV.
Worked example
Down payment $12,250; base loan $337,750 (96.5% LTV); upfront MIP $5,911 makes the total loan $343,661. P&I $2,116, annual MIP 0.55% = $155 a month for the life of the loan, taxes and insurance $475 — total about $2,746 a month. Lifetime MIP is roughly $42,600 including the upfront premium. A conventional loan at the same rate with 0.75% PMI would be about $2,766 a month until PMI cancels, so FHA is slightly cheaper at first but more expensive long-term.
Frequently asked questions
What is the FHA loan limit for 2026?
$541,287 for a single-family home in most counties and up to $1,249,125 in high-cost areas; 2–4 unit limits are higher.
How much is FHA mortgage insurance?
1.75% upfront plus 0.15–0.75% a year depending on down payment, term and loan size — 0.55% for the typical 3.5%-down 30-year loan.
Does FHA MIP ever go away?
Only on loans with 10% or more down (after 11 years). Otherwise it lasts the life of the loan, so most borrowers refinance to conventional once they have 20% equity.
What credit score do I need?
580 for 3.5% down; 500–579 requires 10% down. Lenders may set their own higher minimums.
Can I have two FHA loans?
Generally no — FHA is for a primary residence and you may hold only one FHA loan at a time, with exceptions for relocation or family growth.
What is the FHA 3.5% down based on?
The purchase price or appraised value, whichever is lower; closing costs are extra but can be paid by the seller up to 6%.
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