<Li> 30 - year loan term, LTV less than, or equal to, 95 percent: 0.80% annually </Li> <Li> 30 - year loan term, LTV greater than 95 percent: 0.85% annually . </Li> <P> Loans which exceed $625,500 are subject to an MIP surcharge . Loan terms of 15 years or fewer are typically assessed an extra 0.25 percentage points of annual MIP . Loan terms of more than 15 years, including the 30 - year fixed rate mortgage, are subject to a 0.20 percentage point surcharge . </P> <P> FHA MIP will self - cancel for some FHA - insured homeowners, and not others . </P>

Who qualifies for home loans from the federal housing administration