What is the minimum down payment for an FHA loan?

FHA loans require a minimum 3.5% down payment with a credit score of 580 or higher. With a credit score between 500-579, you need 10% down payment.

What credit score do I need for an FHA loan?

FHA loans accept credit scores as low as 500. With 580+, you qualify for 3.5% down. With 500-579, you need 10% down. Most lenders prefer 620+ for easier approval.

What are FHA loan limits for 2026?

FHA loan limits for 2026 range from $541,288 (floor) to $1,249,125 (ceiling) for single-family homes. Limits vary by county based on local home prices.

How much is FHA mortgage insurance (MIP)?

FHA MIP includes an upfront premium of 1.75% of the loan amount (can be financed) plus an annual premium of 0.85% for most borrowers, paid monthly. MIP is required for the life of the loan with less than 10% down.

🏛️ FHA LOANS

FHA Loan Calculator 2026: 3.5% Down Payment

Calculate your FHA loan payment with just 3.5% down. Credit scores as low as 580. Current rates: 5.85% (Jan 2026).

Min Down Payment

3.5%

With 580+ credit

Min Credit Score

580

500 with 10% down

2026 Rate

5.85%

30-year fixed

2026 Limit

$1.2M

High-cost areas

🎯 FHA Loan Benefits: Low 3.5% down payment, flexible credit requirements (580+), competitive rates, and gift funds allowed for down payment. Perfect for first-time homebuyers!

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Mortgage Calculator

Home Price ($)

Down Payment ($)

Interest Rate (%)

Loan Term (years)

Annual Property Tax ($)

Annual Home Insurance ($)

Additional Monthly Payment ($)

Monthly Payment

$1,616

Principal & Interest:$1,216

Property Tax:$300

Home Insurance:$100

Payment Breakdown

Loan Summary

Total Principal:$240,000

Total Interest:$197,776

Total Cost:$437,776

Understanding Your Mortgage

Principal vs Interest

In the early years of your mortgage, most of your monthly payment goes toward interest. As you pay down your loan, more goes toward principal.

Extra Payments

Making even small additional payments can significantly reduce your loan term and save thousands in interest over the life of your loan.

Amortization

An amortization schedule shows how your loan balance decreases over time as you make payments, eventually reaching zero at the end of your loan term.

What is an FHA Loan?

An FHA loan is a mortgage insured by the Federal Housing Administration, designed to help first-time homebuyers and those with lower credit scores achieve homeownership. With just 3.5% down and credit scores as low as 580, FHA loans are one of the most accessible mortgage options available.

FHA Loan Requirements 2026

✅ Credit Score: 580+ (3.5% down) or 500-579 (10% down)
✅ Down Payment: 3.5% minimum with 580+ credit
✅ DTI Ratio: 43% max (up to 50% with compensating factors)
✅ Employment: 2 years steady employment history
✅ Property: Must be primary residence, meet FHA standards
✅ Loan Limits: $541,288 - $1,249,125 (varies by county)

FHA Mortgage Insurance (MIP) Explained

FHA loans require mortgage insurance premium (MIP) to protect the lender:

Upfront MIP (UFMIP): 1.75% of loan amount (can be financed into loan)
Annual MIP: 0.85% of loan balance (paid monthly)

For a $300,000 loan, that's $5,250 upfront and about $213/month in annual MIP. MIP is required for the life of the loan if you put less than 10% down.

2026 FHA Loan Limits by Area

Area Type	1-Unit	2-Unit	3-Unit	4-Unit
Floor (Low-Cost)	$541,288	$693,000	$837,700	$1,041,050
Ceiling (High-Cost)	$1,249,125	$1,599,525	$1,933,275	$2,402,400

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