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Estimate your monthly FHA payment — principal, interest, taxes, insurance, and FHA mortgage insurance (MIP) — with just 3.5% down.
Estimate only. FHA MIP: 1.75% upfront (financed) + ~0.55%/yr. Rates and limits vary.
FHA loans let California buyers put down as little as 3.5% with a 580+ score, but they add mortgage insurance (MIP) — 1.75% upfront (financed into the loan) plus about 0.55% a year paid monthly. This calculator includes MIP so your payment is realistic. See the full FHA loan program.
An FHA payment includes principal and interest, property taxes, homeowners insurance, and FHA mortgage insurance (MIP) — both an upfront premium (1.75% of the loan, usually financed) and an annual premium (about 0.55%) paid monthly. This calculator adds MIP so the payment is realistic.
FHA requires 3.5% down with a credit score of 580 or higher, or 10% down for scores between 500 and 579. This calculator defaults to 3.5%. FHA is popular with first-time and lower-credit California buyers because of that low down payment.
Yes. FHA loans carry an upfront MIP of 1.75% (typically rolled into the loan) plus an annual MIP around 0.55% paid monthly. Unlike conventional PMI, FHA MIP usually stays for the life of the loan unless you refinance out of FHA later.
Generally only by refinancing into a conventional loan once you have around 20% equity and qualify. Many California buyers use FHA to get in, build equity, then refinance to drop MIP. A broker can time that refinance for you.
We’ll shop FHA lenders for your best rate and show the true monthly payment with MIP.