Mortgage Insurance
Does FHA mortgage insurance last forever?
Short answer
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.
Plain-English explanation
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.
What can change the answer?
Loan term, LTV at origination, HUD's published MIP schedule at the time of origination, and refinance options can change the long-term cost.
Related
Want the real answer for your file?
FHA guidelines are the rule. Your credit, income, payment, property, and county limit are what decide the actual answer.
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.