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Calculate FHA loan payments including upfront MIP (1.75%) and annual MIP. See your true monthly cost with all FHA fees included.

Quick Answer: For a $350,000 home with $12,250 down (3.5%) using an FHA loan at 6.75% over 30 years, your estimated monthly payment is $2,910. This includes $2,229 principal and interest, $243 monthly MIP, $350 property taxes, and $88 insurance. The upfront MIP of $5,911 is rolled into your loan.

Loan Details

FHA minimum is 3.5% ($12,250 for this price)

Property Details

Illustrative statewide average, not your county bill, as of 2026. Figures are mean effective rates on owner-occupied housing (ACS calendar year 2024), rounded. County millage and assessed value can differ a lot — edit the tax % after picking a state.

Source: Tax Foundation Facts & Figures 2026, Table 33 (ACS CY 2024)

Monthly Payment

$2,910/mo

FHA-Specific Costs

Base Loan Amount
$337,750
Upfront MIP (1.75%)
$5,911
Total Loan Amount
$343,661
Annual MIP Rate
0.85%
Monthly MIP
$243
MIP Duration
Life of loan
Note: FHA loans require MIP for the life of the loan in most cases (loans originated after June 2013 with less than 10% down). The only way to remove it is to refinance into a conventional loan once you have 20% equity.

Payment Breakdown

Principal & Interest$2,22977%
Monthly MIP$2438%
Property Tax$35012%
Insurance$883%

FHA Loan FAQs

The minimum down payment for an FHA loan is 3.5% of the purchase price, available to borrowers with credit scores of 580 or higher. If your score is between 500-579, you must put down at least 10%.
FHA loans require two types of MIP: an upfront premium of 1.75% of the loan amount (rolled into the loan) and an annual premium of 0.55% to 1.05% paid monthly. Most borrowers pay around 0.85% annually.
For FHA loans originated after June 2013 with less than 10% down, MIP lasts the life of the loan. The only way to remove it is to refinance into a conventional loan once you reach 20% equity. Loans with 10%+ down have MIP for 11 years.
In 2026, FHA loan limits are $524,225 for low-cost areas and up to $1,009,550 for high-cost areas. Limits vary by county. You can check the FHA Mortgage Limits page on HUD.gov for your specific area.