FHA Mortgage Insurance Premium (MIP) Rates

FHA annual MIP rates (2026)

The annual premium depends on your loan term and how much you put down. These rates cover the vast majority of FHA loans (standard loan amounts) with case numbers assigned on or after March 20, 2023; larger high-balance FHA loans pay slightly more. The premium is figured on your average balance and split across 12 payments.

Loan term	LTV (down payment)	Annual MIP
Over 15 years	Over 95% (under 5% down)	0.55%
Over 15 years	90%–95% (5%–10% down)	0.50%
Over 15 years	90% or less (10%+ down)	0.50%
15 years or less	Over 90% (under 10% down)	0.40%
15 years or less	90% or less (10%+ down)	0.15%

Upfront MIP (UFMIP)

Every FHA loan carries a one-time upfront premium of 1.75% of the base loan amount, regardless of term or down payment. Most borrowers finance it into the loan rather than pay cash — on a $300,000 loan that adds $5,250 to the balance. It is the same 1.75% whether you put down 3.5% or 15%.

How long you pay FHA MIP

How long the annual premium lasts depends entirely on your down payment. With less than 10% down it lasts the life of the loan; with 10% or more down it drops off after 11 years.

Because most FHA buyers put down the 3.5% minimum, they pay MIP for the full term unless they act. The common exit is to refinance into a conventional loan once you reach 20% equity, which ends mortgage insurance altogether.

Down payment	MIP duration
Under 10%	Life of the loan
10% or more	11 years

Example: MIP on a $300,000 FHA loan

With 3.5% down on a $310,000 home (a roughly $299,000 loan), you would pay about $5,240 upfront (1.75%) and around $1,645 a year in annual MIP (0.55%) — about $137 a month on top of principal and interest — for the life of the loan. Run your own numbers on the FHA loan calculator.

FHA MIP vs conventional PMI

FHA MIP and conventional PMI both insure the lender, but they behave differently. PMI cancels automatically once you reach 22% equity; FHA MIP usually does not. That single difference is why a borrower who can qualify for a conventional loan often pays less over time. If you are choosing between the two, weigh the lifetime cost, not just the monthly figure.