US 2028 FHA MIP Removal
FHA MIP doesn't auto-cancel post-2013 originations. Only escape: refi to conventional. 2028 strategy: refi when 80% conventional LTV + rate difference reasonable.
| Current LTV | — |
| FHA total monthly (P&I + MIP) | — |
| Conventional refi monthly | — |
| Monthly savings | — |
| Break-even months | — |
FHA loans post-2013 require MIP for life of the loan (or 11 years if 10%+ down). Only way to remove: refinance to conventional. 2028 strategy: when home equity reaches 20% AND conventional rates close to FHA, refi cancels MIP permanently + locks new rate. Compare monthly savings × 5-7 years vs refi cost.
MIP Lasts Life of FHA Loan
FHA MIP for loans originated post-June 2013: lasts entire loan term (or 11 years if 10%+ down at origination). Cannot remove via LTV pay-down or appreciation. The only escape is refinancing to conventional.
Conventional Refi Math
If conventional LTV ≤80%: no PMI, full savings. If 80-97%: PMI applies but typically cheaper than FHA MIP. Modeling: monthly savings × months held = total benefit; subtract refi cost ($3,000-$6,000) for net.
Break-Even + Hold Time
Refi makes sense if planning to hold 2x the break-even period. Selling soon = refi may not pay back. Generally: hold 5+ years post-refi to justify $4,500 cost at $100/month savings.
Last updated May 2026. Sources: HUD.