No. Once you've paid the upfront premium, it's final, and FHA premium changes have never reached back to closed loans. The premium that applies to your loan is governed by the date your FHA case number was assigned. Historically, even cuts to the ongoing monthly mortgage insurance haven't touched existing loans. Capturing better terms takes a new case number, which after closing means a new loan: a refinance. One narrow exception is worth knowing. If a premium cut takes effect while your loan is still in process, your lender can cancel the existing case number and request a new one before closing to capture the new pricing. So if reform ever lowers FHA mortgage insurance, plan on it helping future loans and refinances rather than rewriting the one you already closed. Confirm the specifics with a lender if and when a change actually takes effect.