Free online mortgage insurance calculator. Compare FHA MIP vs conventional PMI costs. Enter loan amount, down payment and loan type to see monthly insurance premium and total insurance cost.
Zero dependencies · Works offline💡 FHA MIP is typically more expensive than PMI. FHA: <10% down = MIP for life of loan; >=10% down = MIP canceled after 11 years. Conventional: PMI can be canceled when LTV < 80%.
FHA MIP is required for FHA loans, while PMI is for conventional loans. FHA MIP is generally more expensive and lasts longer.
FHA MIP can be canceled after 11 years if down payment >= 10%; with <10% down, MIP typically lasts the entire loan term.
It depends: FHA is better for lower credit scores, conventional loans are better for good credit with sufficient down payment.
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