Identify your base loan amount
Purchase price minus your down payment, before financing UFMIP. Example: $400,000 home with 3.5% down = $385,500 base loan amount.
FHA MIP · 2026 update
The 2026 FHA MIP, without the alphabet soup.
UFMIP, annual MIP, removal rules, and a free Nevada calculator. Written by a Las Vegas FHA broker (NMLS #65506) who closes Spring Valley, Henderson, and North Las Vegas FHA buyers every week.
NMLS #65506 · Equal Housing Lender
·
814+ Nevada borrower reviews
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Updated April 2026
Quick answer
UFMIP is 1.75% of your base loan amount, paid at closing or financed. Annual MIP is 0.15%–0.75% of your loan amount per year, divided by 12 and added to the monthly payment. On 30-year FHA loans originated after June 3, 2013 with original LTV above 90%, MIP is required for the life of the loan — the standard exit is refinancing into Conventional once you hit 20% equity.
Definition
What is FHA MIP?
FHA MIP stands for Mortgage Insurance Premium and applies to every FHA-insured home loan. It exists because the FHA insures the lender against borrower default — MIP is the premium that keeps the program sustainable while allowing 3.5%-down financing for buyers who don't have 20% saved.
FHA MIP has two pieces. UFMIP (Upfront Mortgage Insurance Premium) is a one-time charge of 1.75% of the base loan amount, paid at closing or rolled into the loan. Annual MIP is a recurring premium charged annually but billed monthly — it ranges from 0.15% to 0.75% of the loan amount per year depending on loan term, base loan amount, and original LTV.
Most Nevada FHA borrowers we work with at Valley West Mortgage finance UFMIP into the loan. Annual MIP is added to the monthly payment alongside principal, interest, taxes, and homeowners insurance.
2026 MIP chart
2026 FHA annual MIP rate chart
Annual MIP rates by loan term, base loan amount, and original LTV. Apply to FHA loans closed in 2026.
| Loan term | Base loan amount | LTV | Annual MIP |
|---|---|---|---|
| > 15 years | ≤ $726,200 | > 95% | 0.55% |
| > 15 years | ≤ $726,200 | ≤ 95% | 0.50% |
| > 15 years | > $726,200 | > 95% | 0.75% |
| > 15 years | > $726,200 | ≤ 95% | 0.70% |
| ≤ 15 years | ≤ $726,200 | > 90% | 0.40% |
| ≤ 15 years | ≤ $726,200 | ≤ 90% | 0.15% |
| ≤ 15 years | > $726,200 | > 90% | 0.65% |
| ≤ 15 years | > $726,200 | ≤ 90% | 0.40% |
Source: HUD-published FHA MIP schedule, 2026. Rates apply to single-family principal residences. UFMIP is a flat 1.75% across all categories. HUD FHA 203(b) reference →
2026 baseline change
2026 FHA loan limit raised to $832,750 in high-cost counties
The 2026 conforming baseline for FHA in most Clark County, Nevada zip codes follows the standard Nevada FHA limit table. High-cost-area FHA limits scaled up alongside the conforming-loan-limit increase. If your base loan amount lands in the >$726,200 row of the chart above, your annual MIP is 0.70%–0.75% rather than the 0.50%–0.55% baseline.
How to calculate
How to calculate FHA MIP in 4 steps
The exact math any Las Vegas FHA broker (or you, in 60 seconds) can use to estimate UFMIP and annual MIP before pre-approval.
Calculate UFMIP
Multiply base loan amount by 1.75%. Example: $385,500 × 1.75% = $6,746 UFMIP. This can be paid at closing or financed.
Pick the matching annual MIP row
Match your loan term, base loan amount tier, and original LTV to the chart above. Most 30-year FHA buyers in Las Vegas land at 0.50% or 0.55%.
Convert to monthly
Annual MIP rate × loan amount ÷ 12 = your monthly MIP. Example: $385,500 × 0.55% ÷ 12 = $177/mo MIP added to principal + interest + taxes + insurance.
Interactive tool
Free 2026 FHA MIP calculator
Enter your scenario. The calculator pulls the right 2026 annual MIP from the chart and shows UFMIP, monthly MIP, and the financed loan total.
Your scenario
Estimated monthly MIP
$177
0.55% annual MIP · 30-year, >95% LTV, ≤$726,200 base loan
Base loan amount$434,250
UFMIP (1.75%)$7,599
Annual MIP$2,388
Total financed loan$441,849
*Calculator uses 2026 FHA MIP rate schedule and the published 1.75% UFMIP. Not a rate quote — actual rate depends on credit, occupancy, and lender. See today's APR + assumptions.
When MIP comes off
FHA MIP removal rules in 2026
This is the question every FHA borrower eventually asks. The rules depend on when your loan was originated.
- Loans originated after June 3, 2013, original LTV > 90%: MIP runs for the full life of the loan. The standard exit is refinancing into Conventional at 20% equity.
- Loans originated after June 3, 2013, original LTV ≤ 90%: MIP can be cancelled after 11 years of on-time payments.
- Loans originated before June 3, 2013: Older rules apply — MIP often falls off when the loan reaches 78% LTV based on original schedule.
- 15-year loans with LTV ≤ 90%: No annual MIP charged. UFMIP still applies.
- Streamline refinance: Refinancing FHA-to-FHA carries new UFMIP and annual MIP — switching to Conventional is the cleaner cancellation path.
- Cash-out refinance: New UFMIP and annual MIP applied to the new loan amount.
If you have an existing FHA loan, the fastest path to removing MIP is usually a Conventional refinance once your equity reaches 20%. Valley West Mortgage runs both scenarios — FHA streamline vs. FHA-to-Conventional refinance — for every Las Vegas borrower at the renewal milestone.
Reviewed for accuracy
Who reviewed this page
Vatche Saatdjian — Mortgage Loan Originator
Vatche is a licensed Nevada mortgage loan originator at Valley West Mortgage in Las Vegas. He has originated FHA, VA, and Conventional home loans for first-time Las Vegas buyers, Spring Valley families, and Henderson move-up buyers since the program-license expansion of 2018. This page was reviewed against the published 2026 HUD FHA MIP schedule and Valley West's internal compliance review.
Frequently asked
FHA MIP 2026 — FAQ
What is FHA MIP in 2026?
FHA MIP (Mortgage Insurance Premium) has two parts. UFMIP is a flat 1.75% of the base loan amount, paid at closing or financed. Annual MIP ranges from 0.15% to 0.75% per year depending on loan term, base loan amount, and original LTV — charged annually but billed monthly.
How is FHA UFMIP calculated?
UFMIP is 1.75% of the base loan amount. Example: $400,000 base loan amount × 1.75% = $7,000 UFMIP. Most Las Vegas FHA borrowers finance UFMIP into the loan rather than paying out of pocket at closing.
What is the FHA annual MIP rate for 2026?
For most 30-year FHA loans in 2026 with LTV greater than 95% and base loan amount ≤ $726,200, annual MIP is 0.55%. With LTV at or below 95%, it's 0.50%. Loans of 15 years or less typically range 0.15% to 0.40%. High-balance loans above $726,200 are 0.70%–0.75%.
When can FHA MIP be removed?
On FHA loans originated after June 3, 2013, MIP runs for the life of the loan if original LTV was greater than 90%. If original LTV was 90% or less, MIP cancels after 11 years. The most common exit for current borrowers is refinancing into Conventional once you reach 20% equity.
Can I refinance to remove FHA MIP?
Yes. Once you have at least 20% equity in the home, you can refinance from FHA into a Conventional loan and eliminate MIP entirely. Conventional only requires PMI below 20% equity, and PMI automatically falls off at 78% LTV. We compare both scenarios for every Las Vegas FHA borrower at the renewal milestone.
Is FHA MIP the same as PMI?
No. FHA MIP is mortgage insurance for FHA-insured loans, paid to FHA. PMI (Private Mortgage Insurance) applies to Conventional loans, paid to private insurers like MGIC, Genworth, or Radian. PMI cancels automatically at 78% LTV; FHA MIP often does not.
Does FHA MIP apply to streamline refinances?
Yes. FHA streamline refinances require both UFMIP (1.75% of new base loan amount) and annual MIP, just like a purchase. UFMIP can be financed into the new loan; many borrowers receive a partial UFMIP refund credit if they're streamlining a recent FHA loan.
How much does FHA MIP add to my monthly payment?
On a $350,000 30-year FHA loan with 3.5% down, annual MIP at 0.55% adds about $160/mo. Financed UFMIP at 1.75% adds roughly $35/mo. Combined: ~$195/mo — offset by FHA's lower credit and down-payment thresholds for first-time buyers.
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