Loan Types

FHA Loan Calculator

Calculate your FHA payment including upfront mortgage insurance premium, monthly MIP, and when you can drop it.

FHA Loan Details

Purchase Price

Down Payment — 3.5% (min 3.5%)

3.5%20%

Interest Rate (%)

Loan Term

Credit Score Range

Annual MIP Rate (% of loan)

FHA Payment Breakdown

$2,724/ month

Principal & Interest

$2,547

Monthly MIP

$177

Base Loan Amount

$386,000

Total Loan (w/ UFMIP)

$392,755

Upfront MIP (1.75%)

$6,755

Rolled into loan

Down Payment

$14,000 (3.5%)

MIP Timeline: MIP is required for the life of this loan (less than 10% down). To remove MIP, you must refinance into a conventional loan when you reach 20% equity.

FHA Loan Questions?

Talk to a Lender

FHA loans have specific property requirements in Florida. Get connected with an FHA-specialist lender.

FHA Facts

Minimum 3.5% down

FHA requires 3.5% down for credit scores of 580+. Scores 500–579 require 10% down.

FHA loan limits (2024)

Palm Beach County: $726,200. Broward: $726,200. Miami-Dade: $726,200. Loan limits increase in high-cost areas.

MIP vs PMI

FHA charges Mortgage Insurance Premium (MIP) while conventional loans charge PMI. MIP often costs more, but FHA has looser credit requirements.

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