FHA Loan Calculator
Estimate the monthly payment on an FHA mortgage, including its low down payment.
An FHA loan is a government-backed mortgage that lets you buy with as little as 3.5% down if your credit score is 580 or higher. On a $360,000 home with 3.5% down at 6.5% over 30 years, principal and interest run about $2,196 a month before mortgage insurance, tax, and homeowners insurance. Enter your numbers to see the full payment.
These results are estimates for informational purposes only and are not financial, tax, or legal advice. Your actual figures from a lender or the IRS may differ. Consult a qualified professional before making decisions.
Estimated monthly payment
$2,795.80
Principal vs. interest paid per year
Amortization schedule
| Year | Principal | Interest | Balance |
|---|---|---|---|
| 1 | $3,883 | $22,467 | $343,517 |
| 2 | $4,143 | $22,207 | $339,374 |
| 3 | $4,421 | $21,929 | $334,954 |
| 4 | $4,717 | $21,633 | $330,237 |
| 5 | $5,032 | $21,317 | $325,205 |
| 6 | $5,369 | $20,980 | $319,835 |
| 7 | $5,729 | $20,621 | $314,106 |
| 8 | $6,113 | $20,237 | $307,993 |
| 9 | $6,522 | $19,828 | $301,471 |
| 10 | $6,959 | $19,391 | $294,512 |
| 11 | $7,425 | $18,925 | $287,087 |
| 12 | $7,922 | $18,427 | $279,165 |
| 13 | $8,453 | $17,897 | $270,712 |
| 14 | $9,019 | $17,331 | $261,693 |
| 15 | $9,623 | $16,727 | $252,070 |
| 16 | $10,267 | $16,082 | $241,803 |
| 17 | $10,955 | $15,395 | $230,848 |
| 18 | $11,689 | $14,661 | $219,159 |
| 19 | $12,471 | $13,878 | $206,688 |
| 20 | $13,307 | $13,043 | $193,381 |
| 21 | $14,198 | $12,152 | $179,183 |
| 22 | $15,149 | $11,201 | $164,035 |
| 23 | $16,163 | $10,186 | $147,871 |
| 24 | $17,246 | $9,104 | $130,625 |
| 25 | $18,401 | $7,949 | $112,225 |
| 26 | $19,633 | $6,717 | $92,592 |
| 27 | $20,948 | $5,402 | $71,644 |
| 28 | $22,351 | $3,999 | $49,293 |
| 29 | $23,848 | $2,502 | $25,445 |
| 30 | $25,445 | $905 | $0 |
About the FHA Loan Calculator
FHA loans are insured by the Federal Housing Administration and built for buyers who have limited savings or a shorter credit history. The headline feature is the 3.5% minimum down payment for scores of 580 and up, well below what a conventional loan usually wants. This calculator covers the principal and interest on the financed amount, then adds your property tax and homeowners insurance to show the fuller monthly cost. One number it leaves to you is mortgage insurance, which FHA always requires: an upfront premium of 1.75% of the loan, usually rolled into the balance, plus an annual premium split across your monthly payments. If your down payment is under 10%, that annual premium stays for the life of the loan, so many FHA borrowers refinance into a conventional loan once they have built enough equity to drop it. FHA also sets county loan limits, so a high price in an expensive area may push you past what the program allows.
Frequently asked questions
How much do I need to put down on an FHA loan?+
The minimum is 3.5% of the purchase price if your credit score is 580 or higher. Between 500 and 579 the requirement rises to 10%. On a $360,000 home, 3.5% is $12,600.
What is FHA mortgage insurance?+
FHA charges two premiums: an upfront premium of 1.75% of the loan, usually added to the balance, and an annual premium paid monthly. With less than 10% down the annual premium lasts the full loan term, which is why some borrowers later refinance out of FHA.
What credit score do I need for an FHA loan?+
A score of 580 unlocks the 3.5% down payment. Scores from 500 to 579 can still qualify with 10% down. FHA is more forgiving than conventional financing on credit history and debt-to-income ratio.
Are there limits on how much I can borrow with FHA?+
Yes. FHA sets loan limits that vary by county and are higher in expensive markets. If the home price pushes the loan above your county's ceiling, you would need a different loan or a larger down payment.