What is FHA MIP and how long does it last?
FHA mortgage insurance has two parts: a 1.75% upfront premium on the base loan amount and an annual premium collected monthly. The annual premium runs 11 years when the original loan-to-value is 90% or less, and otherwise for the loan term.
FHA · Written by Anil Aggarwal, Realtor® | Mortgage Loan Officer · Updated August 8, 2026
For terms over 15 years and base loan amounts at or below $726,200, the annual premium is 0.50% of the loan amount up to 95% loan-to-value and 0.55% above that, per HUD Mortgagee Letter 2023-05.
Because the duration depends on the original loan-to-value, putting 10% down on an FHA loan can end the annual premium after 11 years instead of carrying it for 30.
Refinancing into a conventional loan later is one way borrowers remove FHA mortgage insurance, but that depends on rates, equity and qualification at that time.
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