FHA vs Conventional Loan Calculator
Compare monthly costs, total interest, and mortgage insurance side-by-side.
FHA minimum 3.5%. Conventional minimum 3%.
Rates and PMI/MIP costs both depend on credit score.
Override the auto-rate if you have a real quote.
Conventional rates usually 0.10-0.40% higher than FHA.
Recommendation
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Adjust inputs to see which loan saves you more.
FHA Loan
3.5% down · 6.25% rate
Monthly payment
$0
P&I$0
Initial monthly MIP$0
UFMIP (financed)$0
MIP duration—
Total interest paid$0
Total MIP paid$0
Total cost of loan$0
Eligibility: OK
Conventional Loan
5% down · 6.50% rate
Monthly payment
$0
P&I$0
Initial monthly PMI$0
Upfront fees$0
PMI drops at—
Total interest paid$0
Total PMI paid$0
Total cost of loan$0
Eligibility: OK
Monthly payment over time
FHA MIP stays for the life of the loan when down payment is under 10%. Conventional PMI drops when you hit 22% equity.
FHA total monthly
Conventional total monthly
Estimates only. Actual rates and PMI/MIP costs depend on your specific lender, credit profile, and loan program. FHA and conventional pricing changes — verify with a licensed loan officer before locking. Not financial advice.
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