FHA MIP Refinance Advice

[Brian Nordman]

Hi everyone! I'm looking into doing a deal on a duplex in which I would live in and finance through an FHA loan. Obviously, I understand there is an upfront premium at closing as well as mortgage insurance premiums included in your mortgage payment when you put down less than 20%. My question is, I've heard that with FHA loans the MIP sticks with you throughout the entire life of the loan. I've also heard that once you reach 20% equity the MIP falls off. If it does indeed stick with you throughout the life of the loan, how difficult would it be to refinance once you've reached 20% equity to ensure you no longer have to pay the MIP?

Thanks!