For FHA loans with LTV 90% or less, MIP duration is:

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Multiple Choice

For FHA loans with LTV 90% or less, MIP duration is:

FHA mortgage insurance premiums (MIP) are tied to the original loan-to-value. If the loan-to-value at origination is 90% or less, the annual MIP must be paid for 11 years (or until the loan is paid off, whichever comes first). After that period, MIP is no longer required, provided the loan remains current. When the LTV is greater than 90%, MIP lasts for the life of the loan. So for a loan with LTV 90% or less, the correct duration is 11 years or until payoff.

FHA mortgage insurance premiums (MIP) are tied to the original loan-to-value. If the loan-to-value at origination is 90% or less, the annual MIP must be paid for 11 years (or until the loan is paid off, whichever comes first). After that period, MIP is no longer required, provided the loan remains current. When the LTV is greater than 90%, MIP lasts for the life of the loan. So for a loan with LTV 90% or less, the correct duration is 11 years or until payoff.

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