FHA Loan Calculator — MIP Cost Breakdown & Upfront Premium Analysis
Calculate your FHA loan monthly payment including all MIP costs. See the complete MIP cost breakdown over time — upfront premium (1.75% financed), annual.
FHA Loan Calculator
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Principal & Interest
$1,920.35
Monthly MIP (Mortgage Insurance)
▼ $132.69
Upfront MIP (1.75%)
▼ $5,066.25
Down Payment Required
$10,500.00
MIP Duration
▼ Life of loan
Scenario Comparison
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Upfront MIP (1.75%)
$5,066.25
Financed into the loan — you pay interest on this amount for the full loan term.
Monthly MIP vs. P&I
MIP is 6.5% of your total monthly payment
Total MIP Cost Over Time
| Period | Total MIP | Cumulative |
|---|---|---|
| Year 1 | $1,592 | $1,592 |
| Year 5 | $7,961 | $13,028 |
| Year 10 | $15,923 | $20,989 |
| Full Term (30yr) | $47,768 | $52,835 |
MIP Rules
- •Upfront MIP: 1.75% of loan, always financed into the balance. You pay interest on this.
- •Annual MIP: 0.55% of loan balance, paid monthly.
- •Duration: Life of loan. MIP lasts the entire loan term if you put less than 10% down.
- •Refinance to remove: The only way to remove FHA MIP is to refinance into a conventional loan once you have 20% equity.
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