{"id":328739,"date":"2025-03-25T05:18:10","date_gmt":"2025-03-25T09:18:10","guid":{"rendered":"https:\/\/www.houzeo.com\/blog\/?p=328739"},"modified":"2025-11-05T04:35:55","modified_gmt":"2025-11-05T09:35:55","slug":"fha-mip-refund-chart","status":"publish","type":"post","link":"https:\/\/www.houzeo.com\/blog\/fha-mip-refund-chart\/","title":{"rendered":"FHA MIP Refund Chart: Meaning and Eligibility Requirements"},"content":{"rendered":"\n<p>The FHA offers a lot of benefits on its loans, one such is the refund of your upfront MIP. You can get a refund of up to 80% if you refinance your loan to another FHA loan within 1 month. This percentage decreases with each passing month as per the FHA MIP refund chart.<\/p>\n\n\n\n<div class=\"block-takeaways\" style=\"margin-top:20px !important\"><p class=\"topHead\"><\/p><p class=\"headKeytake\">\ud83d\udcc9<b> FHA MIP Refund Chart\n<\/b><\/p>\n<ul>\n<li>To qualify, you must refinance your existing FHA loan into another type of FHA loan.\n<\/li>\n<li>The current MIP rate for an FHA loan is between <a href=\"https:\/\/www.paddio.com\/learn\/fha-mortgage-insurance-premiums\/\" target=\"_blank\" rel=\"noreferrer noopener nofollow\">0.50% and 0.75%<\/a> of the loan value depending if it is less than, equal to, or greater than $726,200..\n<\/li>\n<li>You must wait for 7 months from the date of closing of your original loan to apply for a FHA streamline refinance.\n<\/li><\/ul> \n<\/div>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"fha-mortgage-insurance-premium-chart\"><strong>What Is an FHA MIP Refund?<\/strong><\/h2>\n\n\n\n<p>FHA loans come with lenient <a href=\"https:\/\/www.houzeo.com\/blog\/fha-loans\/#FHA-Loan-Requirements\" target=\"_blank\" rel=\"noreferrer noopener\">qualification requirements<\/a> due to which they are the go-to choice of most homebuyers. However, you must pay two types of mortgage insurance premiums when opting for an FHA loan.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li><strong>Upfront Mortgage Insurance Premium (UFMIP):<\/strong> The UFMIP is 1.75% of your loan value due at closing. It is a one-time expense and is refundable under certain conditions.<\/li><li><strong>Annual Mortgage Insurance Premium (MIP):<\/strong> This is your regular payment that you&#8217;ve to pay each month along with your mortgage payments.<\/li><\/ul>\n\n\n\n<p>However, you can get a UFMIP refund if you refinance your FHA loan into another FHA loan within 3 years. The amount of refund depends on how early you refinance. The earlier you refinance the more FHA MIP refunds you get.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"fha-upfront-mip-chart\"><strong>FHA MIP Refund Chart 2024 <\/strong><\/h2>\n\n\n\n<figure class=\"wp-block-table\"><table><tbody><tr><td class=\"has-text-align-center\" data-align=\"center\"><strong>Months After Closing<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>MIP Refund<\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>Months After Closing <\/strong><\/td><td class=\"has-text-align-center\" data-align=\"center\"><strong>MIP Refund<\/strong><\/td><td><strong>Months After Closing<\/strong><\/td><td><strong>MIP Refund<\/strong><\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">1<\/td><td class=\"has-text-align-center\" data-align=\"center\">80%<\/td><td class=\"has-text-align-center\" data-align=\"center\">13<\/td><td class=\"has-text-align-center\" data-align=\"center\">56%<\/td><td>25<\/td><td>32%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">2<\/td><td class=\"has-text-align-center\" data-align=\"center\">78%<\/td><td class=\"has-text-align-center\" data-align=\"center\">14<\/td><td class=\"has-text-align-center\" data-align=\"center\">54%<\/td><td>26<\/td><td>30%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">3<\/td><td class=\"has-text-align-center\" data-align=\"center\">76%<\/td><td class=\"has-text-align-center\" data-align=\"center\">15<\/td><td class=\"has-text-align-center\" data-align=\"center\">52%<\/td><td>27<\/td><td>28%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">4<\/td><td class=\"has-text-align-center\" data-align=\"center\">74%<\/td><td class=\"has-text-align-center\" data-align=\"center\">16<\/td><td class=\"has-text-align-center\" data-align=\"center\">50%<\/td><td>28<\/td><td>26%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">5<\/td><td class=\"has-text-align-center\" data-align=\"center\">72%<\/td><td class=\"has-text-align-center\" data-align=\"center\">17<\/td><td class=\"has-text-align-center\" data-align=\"center\">48%<\/td><td>29<\/td><td>24%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">6<\/td><td class=\"has-text-align-center\" data-align=\"center\">70%<\/td><td class=\"has-text-align-center\" data-align=\"center\">18<\/td><td class=\"has-text-align-center\" data-align=\"center\">46%<\/td><td>30<\/td><td>22%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">7<\/td><td class=\"has-text-align-center\" data-align=\"center\">68%<\/td><td class=\"has-text-align-center\" data-align=\"center\">19<\/td><td class=\"has-text-align-center\" data-align=\"center\">44%<\/td><td>31<\/td><td>20%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">8<\/td><td class=\"has-text-align-center\" data-align=\"center\">66%<\/td><td class=\"has-text-align-center\" data-align=\"center\">20<\/td><td class=\"has-text-align-center\" data-align=\"center\">42%<\/td><td>32<\/td><td>18%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">9<\/td><td class=\"has-text-align-center\" data-align=\"center\">64%<\/td><td class=\"has-text-align-center\" data-align=\"center\">21<\/td><td class=\"has-text-align-center\" data-align=\"center\">40%<\/td><td>33<\/td><td>16%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">10<\/td><td class=\"has-text-align-center\" data-align=\"center\">62%<\/td><td class=\"has-text-align-center\" data-align=\"center\">22<\/td><td class=\"has-text-align-center\" data-align=\"center\">38%<\/td><td>34<\/td><td>14%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">11<\/td><td class=\"has-text-align-center\" data-align=\"center\">60%<\/td><td class=\"has-text-align-center\" data-align=\"center\">23<\/td><td class=\"has-text-align-center\" data-align=\"center\">36%<\/td><td>35<\/td><td>12%<\/td><\/tr><tr><td class=\"has-text-align-center\" data-align=\"center\">12<\/td><td class=\"has-text-align-center\" data-align=\"center\">58%<\/td><td class=\"has-text-align-center\" data-align=\"center\">24<\/td><td class=\"has-text-align-center\" data-align=\"center\">34%<\/td><td>36<\/td><td>10%<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"fha-upfront-mip\"><strong>How Does an FHA MIP Refund Work? <\/strong><\/h2>\n\n\n\n<p>Your MIP refund depends solely on how long you take to <a href=\"https:\/\/www.houzeo.com\/blog\/how-does-refinancing-work\/#:~:text=It%20involves%20working%20with%20a,consolidating%20debt%2C%20or%20accessing%20equity.\" target=\"_blank\" rel=\"noreferrer noopener\">refinance<\/a> your home. You will get a refund of 58% of your UFMIP if you refinance within 12 months. However, after 3 years this will reduce to 10%.<\/p>\n\n\n\n<p>The FHA doesn&#8217;t allow the UFMIP refund in cash. This is why, your MIP refund is adjusted as the upfront MIP payment for your new loan.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\" id=\"eligibility-requirements\"><strong>What are the Eligibility Requirements for FHA MIP Refund? <\/strong><\/h2>\n\n\n\n<p>Here are the qualification requirements for an FHA MIP Refund.<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Your <a href=\"https:\/\/www.houzeo.com\/blog\/fha-loans\/#:~:text=FHA%20loans%20are%20meant%20for,for%20first%2Dtime%20home%20buyers.\" target=\"_blank\" rel=\"noreferrer noopener\">FHA loan<\/a> closing date had to be less than three years ago.<\/li><li>Mortgage payments must be up to date.<\/li><li>Your credit report must not have any <a href=\"https:\/\/www.houzeo.com\/blog\/foreclosures\/\" target=\"_blank\" rel=\"noreferrer noopener\">foreclosures<\/a>.<\/li><li>To get an MIP refund, you must refinance your loan into an FHA mortgage only. <\/li><\/ul>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\"><strong>Bottom Line<\/strong><\/h2>\n\n\n\n<p>You may be eligible for the MIP refund credit, which is applied to your new upfront MIP if you currently have an FHA loan and wish to refinance to the FHA Streamline. However, you must satisfy all the requirements before moving forward with the refinance.<\/p>\n\n\n\n<h2 class=\"margin-top-28 wp-block-heading\"><strong>Find Your New Home With Houzeo<\/strong><\/h2>\n\n\n\n<p>With thousands of property listings, Houzeo.com is one of the biggest property listing sites in the US. Find condos, townhouses, co-ops, and other types of <a href=\"https:\/\/www.houzeo.com\/homes-for-sale\" target=\"_blank\" rel=\"noreferrer noopener\">homes for sale<\/a> on Houzeo.<\/p>\n\n\n\n<p class=\"margin-top-15\"><strong>\u00bb Need More Clarity?&nbsp;<\/strong>Read these exclusive&nbsp;<a href=\"https:\/\/www.realestatequeen.com\/houzeo-reviews\/\" target=\"_blank\" rel=\"noreferrer noopener\">Houzeo reviews<\/a>&nbsp;and learn why the platform is the best in America\u2019s competitive housing market.<\/p>\n\n\n\t\t<div class=\"wp-faq-schema-wrap wp-faq-schema-accordion\">\n\t\t\t\t\t\t<div class=\"wp-faq-schema-items\">\n\t\t\t\t\t\t\t\t\t<p class=\"ui-accordion-header\">\n\t\t\t\t\t\tCan You Get an FHA MIP Refund in Cash?\t\t\t\t\t\t<span class=\"ui-accordion-header-icon ui-icon ui-icon-triangle-1-s\"><\/span>\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"ui-accordion-content\">\n\t\t\t\t\t\t<p>No, you cannot get your FHA MIP refund in <a href=\"#fha-upfront-mip\">cash<\/a>. However, you can use it towards the upfront MIP of your next loan.<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<p class=\"ui-accordion-header\">\n\t\t\t\t\t\tCan I get rid of MIP on an FHA loan?\t\t\t\t\t\t<span class=\"ui-accordion-header-icon ui-icon ui-icon-triangle-1-s\"><\/span>\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"ui-accordion-content\">\n\t\t\t\t\t\t<p>Yes, you can refinance your FHA loan into a <a href=\"https:\/\/www.houzeo.com\/blog\/conventional-loan\/\" target=\"_blank\" rel=\"noreferrer noopener\">conventional loan<\/a> to get rid of an MIP.<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t\t<p class=\"ui-accordion-header\">\n\t\t\t\t\t\tWhat are the latest FHA MIP rules?\t\t\t\t\t\t<span class=\"ui-accordion-header-icon ui-icon ui-icon-triangle-1-s\"><\/span>\n\t\t\t\t\t<\/p>\n\t\t\t\t\t<div class=\"ui-accordion-content\">\n\t\t\t\t\t\t<p>As per the latest FHA <a href=\"https:\/\/www.houzeo.com\/blog\/fha-mortgage-insurance-premium\/\" target=\"_blank\" rel=\"noreferrer noopener\">MIP<\/a> rules, the premium is reduced to 0.55% from 0.85% for FHA loans.<\/p>\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\n","protected":false},"excerpt":{"rendered":"<div class=\"new-excerpt\"><p class=\"small-desc\">If you switch from an FHA loan to another FHA loan, you might be eligible for a MIP refund. Use our FHA MIP Refund Chart to find out how much credit you can...<\/p><\/div><div class=\"reading_date\"><span class=\"readtime\">3 mins read<\/span><span class=\"date\">Mar 25, 2025<\/span><\/div>","protected":false},"author":102,"featured_media":428688,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[46225,46241],"tags":[32715,23611,32716,23607,32714],"class_list":["post-328739","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-buyer","category-mortgage-types","tag-fha-mortgage-insurance-premium-refund","tag-fha-refund-chart","tag-how-to-calculate-mip","tag-pmi-refund-after-refinance","tag-ufmip-refund-chart"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>FHA MIP Refund Chart: Meaning and Eligibility Requirements<\/title>\n<meta name=\"description\" content=\"If you switch from one FHA loan to another, you might be eligible for an MIP refund. Use our FHA MIP Refund Chart to find out how much credit you can expect.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.houzeo.com\/blog\/fha-mip-refund-chart\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"FHA MIP Refund Chart: Meaning and Eligibility Requirements\" \/>\n<meta property=\"og:description\" content=\"If you switch from one FHA loan to another, you might be eligible for an MIP refund. Use our FHA MIP Refund Chart to find out how much credit you can expect.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.houzeo.com\/blog\/fha-mip-refund-chart\/\" \/>\n<meta property=\"og:site_name\" content=\"Houzeo Blog\" \/>\n<meta property=\"article:published_time\" content=\"2025-03-25T09:18:10+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-11-05T09:35:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.houzeo.com\/blog\/wp-content\/uploads\/2023\/10\/FHA-MIP-Refund.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"810\" \/>\n\t<meta property=\"og:image:height\" content=\"435\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/webp\" \/>\n<meta name=\"author\" content=\"Aditya Agarwal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Aditya Agarwal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"FHA MIP Refund Chart: Meaning and Eligibility Requirements","description":"If you switch from one FHA loan to another, you might be eligible for an MIP refund. 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