How Long Does the Borrower Have to Pay FHA Mortgage Insurance?

Your annual MIP duration will depend on the amortization terms and LTV ratios on the date of your loan origination.

For loans with FHA case number assigned on or after June 3, 2013:

The borrower must pay mortgage insurance for the loan period if the LTV is greater than 90% at the time the loan originated. If your LTV is 90% or less, the borrower will pay mortgage insurance for a mortgage or 11 year period, whichever happens first.

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Term                           Original Down Payment                      Duration

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15 years or less            less than 10%                                      Life of loan

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15 years or less           10% or higher                                      11 years

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Over 15 years              less than 10%                                      Life of loan

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Over 15 years             10% or higher                                      11 years

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For loans with FHA case numbers assigned before June 3, 2013:

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Term                            Original Down Payment                    Duration

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15 years or less            22% or higher                                    No annual MIP

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15 years or less            less than 22%                                     Cancelled at 78% LTV

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Over 15 years               22% or higher                                   5 years

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Over 15 years               less than 22%                                    Cancelled at 78% LTV
                                                                                                (5 years minimum)

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