When does FHA mortgage insurance fall off my loan?

B

The length of FHA mortgage insurance is based on the loan to value (LTV) at the time of closing. For 30-year mortgages, the MI will cancel after 132 months (11 years) if the LTV at closing is 90% or less. If the LTV is greater than 90%, the MI will remain on the loan for life. FHA MI is a declining renewal, meaning that it gets recalculated on the loan anniversary each year and will slowly decline as the balance gets smaller.