Mortgage Insurance Premium (MIP) is required on every FHA loan. There are two parts: an upfront premium (UFMIP) of 1.75% of the loan amount, almost always financed into the loan, and an annual MIP of 0.15%–0.75% paid monthly with your mortgage.
Unlike conventional PMI, FHA MIP usually lasts for the life of the loan. The only exceptions are loans with 10%+ down (MIP drops off after 11 years) and 15-year loans with low LTV.
Many FHA borrowers refinance to a conventional loan once they reach 20% equity specifically to get rid of MIP. The savings often justify the refinance costs in just a year or two.