How do I get rid of FHA mortgage insurance with less than 10% down?

Refinancing into a conventional loan is the exit. Once your equity reaches 20% of current value, a conventional refinance carries no PMI at all. Rising Wasatch Front values mean many FHA borrowers reach that point years before they expect to.

How do I find out which MIP track my loan is on?

Two facts decide it: your loan's origination date (before or after June 2013) and your original down payment (under or over 10%). Both are on your closing disclosure. EquityUp's free audit classifies your loan and routes you to the right strategy.

FHA MIP Removal: When You Can Cancel — and When You Can’t

Q: When does FHA MIP go away on its own?

Only on two tracks: loans originated before June 2013 shed MIP at 78% LTV, and loans originated after June 2013 with at least 10% down shed MIP after 11 years. Post-2013 loans with less than 10% down carry MIP for the life of the loan.

Q: Does home appreciation cancel FHA MIP?

Not directly — unlike conventional PMI, FHA MIP has no appreciation-based cancellation right. But appreciation still matters: it is what qualifies you for a no-PMI conventional refinance. Check your current LTV free to see if you're there.

FHA loans don’t charge PMI — they charge MIP, and it plays by different rules. Whether you can drop it comes down to two facts: when your loan closed, and how much you put down.

Find your MIP track free →

The June 2013 rule

In June 2013 the FHA changed how long borrowers pay the Mortgage Insurance Premium. Before the change, MIP behaved a lot like conventional PMI — build enough equity and it falls off. After the change, most borrowers pay it for the life of the loan. Your origination date puts you on one of three tracks:

78% LTV

Closed before June 2013

MIP cancels once your loan balance reaches 78% of value — same shape as conventional PMI.

11 years

After June 2013 · 10%+ down

MIP ends automatically after 11 years of payments, regardless of equity.

Life of loan

After June 2013 · under 10% down

MIP never cancels on its own. Refinancing to conventional is the exit.

If you’re on the life-of-loan track

No amount of equity cancels your MIP — but equity is still your way out. Once your loan balance is 80% or less of your home’s current value, you qualify for a conventional refinance with no mortgage insurance at all. With Wasatch Front appreciation, many FHA borrowers who bought with 3.5% down are already there and don’t know it.

The math to run: monthly MIP saved versus refinance closing costs. That starts with knowing your current LTV — which is public data.

If you’re on a cancellable track

Pre-June-2013 borrowers: track your LTV against the 78% line — your servicer should terminate MIP automatically, but errors are common enough to be worth checking. Post-2013 borrowers with 10%+ down: mark the 11-year date; nothing you do speeds it up, but a conventional refinance may still beat waiting if your equity is strong.

On a conventional loan instead? Here’s the 4-step PMI removal process →

Two facts decide your track. One free audit tells you both what you’re on and whether refinancing out makes sense.

Check your equity free in under 2 minutes →

Frequently asked questions

Is FHA mortgage insurance (MIP) the same as PMI?

No. PMI applies to conventional loans and can be cancelled at 20% equity under the Homeowners Protection Act. MIP applies to FHA loans: for most loans originated after June 2013 with less than 10% down, it lasts the life of the loan regardless of equity.

When does FHA MIP go away on its own?

Pre-June-2013 loans: at 78% LTV. Post-June-2013 loans with at least 10% down: after 11 years. Post-2013 loans with less than 10% down: never — MIP runs for the life of the loan.

How do I get rid of MIP with less than 10% down?

Refinance into a conventional loan. Once your equity reaches 20% of current value, the conventional loan carries no mortgage insurance at all. Rising Wasatch Front values put many FHA borrowers past that line years early.

Does home appreciation cancel FHA MIP?

Not directly — FHA MIP has no appreciation-based cancellation right. But appreciation is what qualifies you for the no-PMI conventional refinance, so it still decides when you can stop paying.

How do I find out which track my loan is on?

Your closing disclosure has both facts: origination date (before/after June 2013) and down payment (under/over 10%). EquityUp’s free audit classifies your loan and routes you to the right strategy.