Financial glossary
FHA Loan
In plain English
A mortgage insured by the Federal Housing Administration that can allow a lower down payment but charges upfront and annual mortgage insurance.
An FHA loan is a mortgage insured by the Federal Housing Administration. The insurance can make qualification easier and support a smaller down payment, but borrowers generally pay an upfront mortgage insurance premium and an annual premium collected monthly. Compare the full payment in the FHA loan calculator, not just the advertised rate.
Related calculators
- FHA Loan CalculatorEstimate an FHA mortgage payment with upfront MIP, annual MIP, down payment, rate, and term. Adjust fees to match your Loan Estimate.
- Mortgage CalculatorEstimate a complete monthly mortgage payment with principal, interest, property tax, insurance, PMI, and HOA dues. See total interest and loan cost.
- Down Payment & PMI CalculatorEstimate cash down, starting loan-to-value, monthly PMI, total PMI, and when scheduled mortgage principal may reach 80% LTV.