FHA MIP rarely drops while you keep the FHA loan; refinance to conventional is the usual path. The 2 Mortgage Guys at Luminate Bank, nationwide.
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MIP Removal
Usually not the way conventional PMI is removed. On most low-down FHA loans, annual MIP lasts for the life of the loan. The practical ways to stop paying it are reaching the 11-year mark (when you put 10%+ down) or refinancing into a conventional loan.
There is no magic “call the servicer at 20% equity” button on most FHA loans.
Dropping MIP is only a win if the new loan is cheaper over your timeline.
A refinance to escape MIP should be intentional — not automatic.
Clear math first — paperwork second.
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Ryan & Steve will check whether you are on the 11-year schedule — or when a conventional refinance can drop MIP.