Finance category
Mortgage, loan, investing, tax, and money calculators.
FHA MIP Calculator
FHA loans carry two MI charges: upfront MIP (1.75% of loan, financed) plus annual MIP (0.15%-0.75%) paid monthly. 2023 rate cut dropped annual MIP by 30 bps. This calculator sizes both.
Total MIP paid over hold
$19,600
Upfront MIP (financed)
$6,125
Monthly MIP
$160
Annual MIP rate
0.550%
Years MIP paid (with drop if 10%+ down)
7
How the math works
$350K FHA at 3.5% down, 30-yr: 1.75% upfront = $6,125 financed + 0.55% × $350K ÷ 12 = $160/mo MIP. Over 7 years (permanent at <10% down): $19,565 MIP.
10%+ down drops MIP after 11 years — significant savings for long-term holds. For <10% down, refi to conventional at 80% LTV is the standard exit — usually worth doing in year 3-5.
EveryCalc calculators are designed for fast, practical estimates with transparent inputs and no required account. We use plain formulas, visible assumptions, and related tools so visitors can check the result from more than one angle.
Results are informational only. For financial, tax, legal, medical, construction, or other high-impact decisions, verify the output against primary sources or a qualified professional.
Learn more about our review process on the EveryCalc methodology page.
How this calculator works
What this page estimates
This FHA MIP Calculator is built to give a quick, browser-based estimate for fha mip. FHA loans carry two MI charges: upfront MIP (1.75% of loan, financed) plus annual MIP (0.15%-0.75%) paid monthly. 2023 rate cut dropped annual MIP by 30 bps. This calculator sizes both. The inputs stay on the page during normal use, and the result should be treated as an estimate for planning, comparison, or education rather than professional advice.
Calculation approach
The calculator applies the standard relationship implied by the inputs, then formats the answer so it can be checked and reused. For finance tools, the most important step is using consistent units, rates, time periods, and assumptions before comparing the result with another calculator or outside quote.
Example workflow
For example, start with a realistic value you already know, change one input at a time, and watch how the answer moves. That makes it easier to tell whether the result is being driven by the main amount, the rate, the time period, or a unit conversion.
Practical checks
- Use current, real-world numbers when the result affects money, health, tax, or legal decisions.
- Run a low, base, and high case when the inputs are estimates.
- Check the related calculators below when the next decision depends on a different assumption.
How to interpret the fha mip result
Best use
Use the result as a planning number for comparing payments, rates, returns, tax reserves, or cash-flow choices before you request a quote or make a commitment.
Cross-check
Compare the answer with the contract, lender estimate, tax form, brokerage statement, payroll record, or invoice that will control the real-world outcome.
Watch for
Do not rely on a single optimistic rate, return, or fee assumption. Money pages work best when you run low, base, and high cases and keep professional advice separate from the estimate.
This page belongs to the Finance calculator library, so the answer should be read in the context of the decision you are modeling rather than as a universal rule.
Before relying on this fha mip estimate
Most calculator mistakes come from the inputs, not the arithmetic. Use this short audit before you reuse the answer in a spreadsheet, quote, application, or important conversation.
Confirm source numbers
Match balances, rates, fees, taxes, income, and payment dates against the lender quote, payroll record, tax form, statement, invoice, or contract.
Separate cash flow from total cost
A lower monthly payment can still cost more over time if fees, interest, taxes, or a longer term are hidden in the structure.
Run conservative cases
Test at least one higher-cost or lower-return case before using the output for a purchase, refinance, investment, loan, or tax decision.
Rerun this page when the rate, price, term, fee, tax rule, income, expense, or expected holding period changes.
How to Use
- Enter loan amount, down payment %, and term.
- See upfront MIP (added to loan), monthly MIP, and total paid over hold period.
Frequently Asked Questions
Does FHA MIP ever drop off?
Only if you put 10%+ down — then annual MIP ends after 11 years. Under 10% down: permanent for life of loan. Refi to conventional is the only way out for most FHA borrowers.
What are 2026 annual MIP rates?
Loan ≤$726K: 0.55% if LTV ≤95%, 0.50% if LTV >95% (30-year). Loan >$726K: 0.70% if LTV ≤95%, 0.75% if LTV >95%. 15-year loans: much lower (0.15-0.65%).
Is upfront MIP refundable at refi?
Partial refund if you refi within 3 years to another FHA loan (via Streamline). Not refundable at conventional refi. Factor into break-even math.
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