Mortgage Insurance
Can FHA MIP be removed?
Short answer
Generally not on most current FHA loans without a refinance. The exception: 10%+ down payment FHA loans drop annual MIP after 11 years.
Plain-English explanation
If you put 3.5%–9.99% down and have a current FHA loan, annual MIP stays for the loan's full term. The standard removal path is a refinance into conventional once you have ~20% equity.
Practical example
Borrowers often call this 'PMI,' but FHA technically uses MIP. For most FHA loans originated since 2013 with a down payment under 10%, annual MIP is currently scheduled to remain for the life of the loan. With 10% or more down, MIP may end after 11 years. Specific HUD rules can change — the practical removal path for a low-down-payment FHA loan is usually a refinance into a conventional loan once the file supports 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.