FHA MIP Calculator
UFMIP and annual/monthly MIP from base loan — illustrative 1.75% / 0.55% defaults. Click any i for detail.
Loan & MIP rates
Base loan amount ($)
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Base
Loan before UFMIP financing. |
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UFMIP rate (%)
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UFMIP
Illustrative default 1.75%. |
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Annual MIP rate (%)
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Annual
Illustrative; often ~0.55% for many LTV/term cases. |
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Finance UFMIP?
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Finance
If yes, add UFMIP into the total loan used for annual MIP. |
How to use this calculator
- Enter the base loan amount.
- Confirm or edit UFMIP and annual MIP rates.
- Choose whether UFMIP is financed.
- Read UFMIP, total loan, and monthly MIP.
Results explained
FHA loans charge an upfront mortgage insurance premium (UFMIP) and an ongoing annual MIP usually collected monthly. Defaults here (1.75% / 0.55%) are educational sketches — actual rates depend on LTV, term, and current FHA schedules.
Quick reference: FHA MIP
UFMIP = base × rate; annual MIP ≈ (base [+ UFMIP]) × annual%.
| Item | Detail |
|---|---|
| UFMIP 1.75% | Common teaching default |
| Annual ~0.55% | Many but not all cases |
| Financed UFMIP | Raises loan balance |
| Duration | Depends on LTV/term rules — not timed here |
Illustrative rates only — confirm with your lender or HUD tables.
How the estimate is built
UFMIP = B×u%; loan' = B[+UFMIP]; annual = loan'×a%; monthly = annual/12.
Example scenario
$350,000 base, finance 1.75% UFMIP, 0.55% annual → monthly MIP ≈ $163.
FAQ
Is MIP the same as PMI?
Similar job, different program rules and pricing.
Can I remove annual MIP?
FHA rules differ from conventional PMI cancellation — check current policy.
Include in payment?
Monthly MIP is often escrowed with P&I.
UFMIP refunds?
Rare special cases — not modeled.