How to Calculate FHA Loan
Calculate your FHA loan payment with 3.5% down, upfront MIP, and monthly mortgage insurance.
The Formula
(loanAmount * 1.0175) * (monthlyRate * (1 + monthlyRate)^numPayments) / ((1 + monthlyRate)^numPayments - 1)The fha loan formula uses the mathematical relationship: (loanAmount * 1.0175) * (monthlyRate * (1 + monthlyRate)^numPayments) / ((1 + monthlyRate)^numPayments - 1). Each variable in the formula represents a measurable quantity that affects the final result.
Step-by-Step Method
- 1Identify all input values needed for the fha loan calculation.
- 2Substitute your known values into the formula: (loanAmount * 1.0175) * (monthlyRate * (1 + monthlyRate)^num.
- 3Perform the arithmetic operations in the correct order (PEMDAS/BODMAS).
- 4Check that your result has the correct units and is within a reasonable range.
- 5Verify using the interactive FHA Loan Calculator to confirm your answer.
Related Topics
FHAFHA loanmortgage insurance premiumMIP3.5% downfirst-time buyer
Use the Interactive Calculator
Skip the manual math — get instant results with our free FHA Loan calculator.