Included in the monthly estimate
Principal and interest on the estimated financed loan, first-year monthly MIP, annual property taxes divided by 12, annual homeowners insurance divided by 12, and monthly HOA dues.
FHA payment calculator | HUD MIP table reviewed July 2026
FHA loan calculator for NC and SC payment, MIP, and cash to close
See the principal, interest, upfront MIP, first-year monthly MIP, taxes, insurance, HOA dues, and a planning estimate of cash to close before you rely on one headline number.
Matt Doby, NMLS #2115225 handles your mortgage conversation. Sources and editorial standards.
Start with facts
Enter the price, down payment, rate, taxes, insurance, HOA dues, and expected closing figures. The tool uses HUD's current forward-mortgage MIP table, but it cannot know the final appraisal, rate lock, insurance quote, credits, or Loan Estimate.
Interactive FHA planning tool
Build the payment from the actual parts.
The example rate is not a quote. Replace every field with the figures you are evaluating, especially the property taxes and insurance.
For a property in North Carolina or South Carolina, use the tax estimate for the actual property and intended occupancy, plus a property-specific insurance estimate. The example costs are not statewide averages. Leave an unknown cost blank; enter 0 only when you have confirmed there is no charge.
Loan and property inputs
Compare the common down-payment points, then use a custom amount when the deal calls for it.
Current comparison: 3.5% down, or $12,250 on the entered price.
Upfront mortgage insurance
Cash to close here is a planning estimate: down payment plus entered costs and any unfinanced upfront MIP, minus entered eligible credits and earnest money. It does not know final escrows, discount points, adjustments, appraisal gaps, or contribution limits.
Read the result correctly
What the estimate includes, and what still needs a real file.
Not automatically known
Flood insurance, final tax proration, escrow setup, discount points, lender or title charges, appraisal gaps, repairs, rate-lock timing, contribution limits, or a program and underwriting decision.
Use the property, not a statewide average
South Carolina tax and insurance costs vary by county, municipality, occupancy, property, carrier, flood exposure, exemptions, and assessment. Enter the actual estimates whenever possible.
Separate payment from cash to close
A manageable payment does not answer whether the down payment, closing costs, prepaids, credits, earnest money, appraisal, and repair plan work together.
A worked comparison, not a borrower result
Why 5% down and 10% down change different parts of FHA mortgage insurance
Consider a hypothetical $300,000 purchase with a 30-year FHA loan, where the price equals the appraised value. These examples isolate the starting loan-to-value (LTV) rules. They are not rate quotes, approvals or recommendations to use more of your savings.
- 3.5% down: $10,500. The base loan is $289,500 and starting LTV is 96.5%. In HUD's applicable annual-MIP table, this falls in the 0.55% tier, with MIP assessed for the mortgage term.
- 5% down: $15,000. The base loan is $285,000 and starting LTV is 95%. The annual-MIP tier falls to 0.50%, but its duration is still the mortgage term. The extra $4,500 does not move this example into the 11-year duration tier.
- 10% down: $30,000. The base loan is $270,000 and starting LTV is 90%. The annual-MIP tier remains 0.50%, while its duration changes to 11 years under the applicable table.
Compare the cash decision as well as the payment. Going from 5% to 10% down uses another $15,000 before closing costs and reserves. It changes the MIP duration here, but that does not establish which choice fits your budget. Upfront MIP is separate; these base-loan figures exclude financed upfront MIP. The displayed monthly MIP is a first-year estimate, not a guarantee that the premium stays level.
Use the calculator's existing 3.5%, 5% and 10% buttons with the same property costs. Then ask Matt to review the cash left after closing, repair needs and your intended holding period alongside the payment. A different appraisal, term, loan size or case can change the comparison.
Source: HUD Mortgagee Letter 2023-05, annual-MIP table for terms over 15 years (reviewed October 29, 2026). Educational example only; verify current case-specific requirements.
HUD MIP logic used by this tool
The annual MIP rate changes with term, loan amount, and LTV.
For a common 30-year purchase at 3.5% down and a base loan at or below $726,200, the tool uses 0.55% annual MIP. It uses the other current HUD tiers when the inputs cross a term, balance, or LTV boundary.
| Term and base loan | Starting LTV | Annual MIP used | Estimated duration |
|---|---|---|---|
| More than 15 years; $726,200 or less | 95% or less | 0.50% | 11 years at 90% or less; otherwise term |
| More than 15 years; $726,200 or less | Above 95% | 0.55% | Mortgage term |
| More than 15 years; above $726,200 | 95% or less / above 95% | 0.70% / 0.75% | 11 years at 90% or less; otherwise term |
| 15 years or less; $726,200 or less | 90% or less / above 90% | 0.15% / 0.40% | 11 years / mortgage term |
| 15 years or less; above $726,200 | 78% or less / 78%-90% / above 90% | 0.15% / 0.40% / 0.65% | 11 years / 11 years / mortgage term |
Primary sources reviewed July 15, 2026
Verify the MIP rules at HUD.
- HUD: FHA mortgage insurance premium structureCurrent upfront and annual MIP table for forward mortgages.
- HUD Mortgagee Letter 2023-05Annual MIP tiers effective for case numbers endorsed on or after March 20, 2023.
- HUD Single Family Housing Policy Handbook 4000.1HUD's consolidated source for current FHA Single Family policy.
- HUD upfront mortgage insurance premiumOfficial context for FHA upfront MIP collection and processing.
FHA calculator questions
The questions that change the number.
How much down payment does an FHA purchase loan require?
FHA maximum financing generally starts with a 3.5% minimum required investment based on adjusted value, but eligibility, credit, the appraised value, the sales price, interested-party contributions, and the complete file still control the final structure.
Does this FHA loan calculator include mortgage insurance?
Yes. It estimates the 1.75% upfront mortgage insurance premium and applies HUD's current annual MIP table by term, base loan amount, and estimated loan-to-value ratio. The monthly MIP result is a first-year planning estimate, not a servicing schedule.
How long does annual FHA mortgage insurance last?
Under HUD's current table, annual MIP is generally assessed for 11 years when the starting LTV is 90% or less and for the mortgage term when the starting LTV is above 90%. Exceptions and refinance rules exist, so confirm the actual case and current handbook.
Why can the final FHA payment differ from this estimate?
The final payment can change with the note rate, lock timing, property taxes, homeowners or flood insurance, HOA dues, financed upfront MIP, annual MIP, loan amount, appraisal, and final closing figures. Use the Loan Estimate and file-specific review before relying on a payment.
Can seller or lender credits reduce FHA cash to close?
Eligible credits may offset permitted closing costs, prepaid items, or discount points, but they cannot automatically replace the borrower's required investment or cure an ineligible charge. Contract terms, contribution limits, interested-party rules, and the lender's final figures must be reviewed.
Can this FHA calculator give me a rate from my credit score?
No. This tool does not collect a credit score or price a loan from one. Enter a rate for the scenario you are comparing; the example rate is not an offer. A lender reviews credit, the property, loan structure, documentation and current pricing before a file-specific rate or approval decision. Matt can explain the next review step without treating this estimate as qualification.
Is this calculator a loan approval or rate quote?
No. It is an educational planning tool. Approval, pricing, payment, cash to close, property eligibility, and closing depend on the borrower, property, rate lock, program, documentation, and underwriting review.
Review the financing, not just the output
Send the property and the payment question. I will help you find the next useful check.
The calculator can do arithmetic. It cannot read the contract, appraisal, taxes, insurance, credit, income, assets, credits, or closing deadline. Send the facts that matter and I will review the scenario in context.
Educational mortgage information only. This calculator is not a Loan Estimate, approval, rate quote, payment quote, or commitment to lend. Results depend on the values entered and may omit costs or file-specific rules. Final approval, payment, cash to close, MIP, property eligibility, pricing, and closing depend on borrower, property, appraisal, insurance, program, rate lock, documentation, and underwriting review.