MIP Guide

What Is FHA Mortgage Insurance?

FHA mortgage insurance (MIP) protects the lender and is required on FHA loans. Most borrowers pay an upfront premium plus an annual premium that is collected monthly with the mortgage payment.

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How FHA MIP Works

Two premiums, one purpose: making flexible FHA financing possible.

What Affects Your MIP Cost

Your monthly MIP is not random — a few file inputs drive the factor.

Base loan amount and loan term
Loan-to-value (LTV) at origination
Whether you put less than 10% or 10%+ down
Current FHA MIP rate schedule from HUD
Whether upfront MIP is financed into the balance

FHA MIP vs. Conventional PMI

The right choice depends on credit, cash, and how long you will keep the loan.

FHA: more flexible credit, MIP often lasts longer
Conventional: PMI usually cancels at ~20% equity
FHA: upfront MIP is common; conventional has no UFMIP
Strong credit can make conventional cheaper overall
We model both payments before you choose

How We Explain MIP Clearly

No surprises at closing — you will know the monthly and lifetime cost picture.

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Keep Exploring

Related guides to help you compare options and move toward pre-approval.

How Long Does FHA MIP Last?

Life-of-loan vs. 11-year rules.

Can FHA MIP Be Removed?

When refinance is the realistic exit.

Can I Buy With 3.5% Down?

How down payment affects MIP duration.

FHA Loans Overview

Run payment scenarios with MIP included.

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Recent articles from our blog on FHA MIP, payments, and homebuying.

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Frequently Asked Questions

See Your FHA Payment With MIP

We will show principal, interest, taxes, insurance, and MIP — then compare it with conventional PMI for your scenario.

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