🏛️ FHA 2026 • HUD-Sourced MIP Rates
FHA Loan Calculator
Maintained by USAFinCalc
Calculate your FHA monthly payment including upfront MIP (1.75%) and annual MIP. See total loan cost and how long MIP stays on your loan.
Enter your home price and down payment to calculate your FHA loan payment.
🏛️ FHA Loan Details
$
$
%
%
PITI Extras
$
$
🏛️
Enter your home details
P+I • MIP • Tax • Insurance
Frequently Asked Questions
What is MIP on an FHA loan?
MIP stands for Mortgage Insurance Premium — FHA's version of mortgage insurance. There are two parts: an upfront MIP of 1.75% of the loan amount (added to your loan balance at closing) and an annual MIP of 0.55%–1.05% of the outstanding balance, paid monthly. The annual rate depends on your loan term, LTV, and loan amount. Source: HUD Mortgagee Letter 2023-05.
When can I remove FHA MIP?
For loans originated after June 3, 2013: if you put down less than 10%, MIP stays for the life of the loan. If you put down 10% or more, MIP cancels after 11 years. The only way to remove lifetime MIP is to refinance into a conventional loan once you have enough equity.
What credit score do I need for an FHA loan?
FHA allows a minimum credit score of 500 with 10% down, or 580+ with 3.5% down. Individual lenders often set higher minimums (many require 620+). Check with multiple lenders if you're near the floor — requirements vary by lender, not just by FHA guidelines.
What are the FHA loan limits for 2026?
For 2026, the baseline FHA loan limit (low-cost areas) is $524,225 for a single-family home. High-cost areas (parts of California, New York, and Hawaii) can go up to $1,209,750. Alaska, Hawaii, Guam, and the US Virgin Islands have higher ceilings. Look up your county's specific limit at HUD.gov.
FHA vs conventional — which is cheaper?
It depends on your credit score and down payment. With a score below 680 and less than 20% down, FHA's MIP is often cheaper than conventional PMI. With a score above 720, conventional PMI rates tend to be lower and can be removed once you hit 20% equity — whereas FHA MIP on a low-down-payment loan stays for the life of the loan.
📊 Data & Methodology
Upfront MIP: 1.75% of base loan amount, financed into the loan (HUD Mortgagee Letter 2023-05). Annual MIP rates: 30-yr loan, LTV >95% → 0.55%; LTV ≤95% → 0.50%. 15-yr loan, LTV >90% → 0.40%; LTV ≤90% → 0.15%. MIP duration: less than 10% down → life of loan; 10%+ down → 11 years. 2026 loan limits: HUD.gov Mortgage Limits. Monthly payment uses standard amortization formula. Updated: January 2026.