How to Use This FHA MIP Calculator
Our free fha mip calculator gives you accurate estimates in seconds. Enter your numbers above and hit Calculate — results update instantly.
All calculations use current 2026 rates and formulas. Results are estimates to help you plan — always verify with a licensed professional for final numbers.
Frequently Asked Questions
What is FHA MIP?
FHA MIP (Mortgage Insurance Premium) is required on all FHA loans. It includes an upfront MIP of 1.75% of the loan amount, plus an annual MIP of 0.55% (for most 30-year loans) divided into monthly payments.
How long do you pay FHA mortgage insurance?
For FHA loans with less than 10% down payment, MIP is required for the life of the loan. With 10% or more down, MIP can be removed after 11 years. This is different from conventional PMI which can be removed at 20% equity.
How can I avoid FHA MIP?
To avoid FHA MIP, you can put 10% down (reduces to 11 years), refinance to a conventional loan once you have 20% equity, or choose a conventional loan from the start if you qualify.
What is the FHA upfront MIP?
The FHA upfront MIP is 1.75% of the loan amount, paid at closing. On a $300,000 loan, that's $5,250. It can be financed into the loan amount, which is a common choice to reduce upfront costs.
Did FHA reduce MIP in 2023?
Yes, in March 2023 the FHA reduced annual MIP by 0.30 percentage points for most borrowers. The annual MIP dropped from 0.85% to 0.55% for 30-year loans with LTV over 95%, saving homeowners about $800/year on a $300,000 loan.