FHA mortgage insurance lasts for the life of the loan. For FHA 232/223(f) Acquisitions & Refinancing for Healthcare Properties, the loan must last a minimum of 10 years and the maximum term is 35 years or 75% of the remaining life of the facility, fully amortizing. For FHA and HUD 223(a)(7): Refinancing Existing HUD Loans, the term of the loan may be extended by up to 12 years, as long as the new term does not exceed the initial loan term — 40 years in the case of a 221(d)(4) loan and 35 years for 223(f) financing.