Can I ever remove FHA mortgage insurance?

If your down payment was 10% or more, annual MIP is currently required for 11 years. Below a 10% down payment, it typically lasts for the life of the loan. Many borrowers refinance into a conventional loan once they’ve built enough equity to drop mortgage insurance entirely.

Does this include property tax and homeowners insurance?

No — this calculates principal, interest, and MIP only. Most FHA lenders require property tax and insurance to be escrowed into your monthly payment as well, so your actual total payment will typically be higher than the figure shown here.

Mortgage & Real Estate

FHA Loan Monthly Payment Calculator

Principal, interest, and mortgage insurance premium (MIP) — both upfront and annual.

Formula reviewed against published FHA loan guideline formulas (down payment, MIP) · Last checked Aug 2026 · methodology

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Formula

Upfront MIP gets financed, annual MIP is monthly

Total Loan = Base Loan + (Base Loan × Upfront MIP%)

Base loan amountHome price minus down payment

Financed upfront MIPAdded to the base loan to form the total amount you actually finance

Monthly MIPTotal loan amount × annual MIP rate ÷ 12, added on top of principal & interest

FAQ

Common questions

Upfront MIP is a one-time premium, typically financed directly into the loan balance rather than paid in cash at closing. Annual MIP is an ongoing premium billed monthly as part of your payment for some or all of the loan term, depending on your down payment and loan-to-value ratio.

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