Does FHA mortgage insurance last forever?
On most FHA loans with under 10% down, yes — annual MIP stays for the life of the loan. With 10%+ down, annual MIP drops off after 11 years.
What this actually means.
This is the main long-term-cost difference vs conventional. To remove FHA MIP early, most borrowers refinance into a conventional loan once equity and credit support it.
Where this can move.
Loan term, LTV at origination, HUD's published MIP schedule at the time of origination, and refinance options can change the long-term cost.
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More FHA questions on Mortgage Insurance.
Educational only. FHA guidelines, lender overlays, rates, fees, and underwriting requirements can change. Final eligibility depends on full underwriting review. Mortgage Expert, Inc. is not affiliated with HUD, FHA, or any government agency.