- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: PMI
Posted on 2/1/13 at 9:24 am to RandySavage
Posted on 2/1/13 at 9:24 am to RandySavage
Depends on you loan type and when the loan was taking out (rules always changing)
just got a FHA loan in June. Got a letter a the first of the year (required by law it said) that states that i must keep PMI for a minimum of 5 years, that it will automatically be removed once my scheduled payment hit the 78% threshold (as long as ii have good payment status) and that if i pay extra payments and hit the 78% threshold it was my responsibility to ask for the insurance to stop.
Also, getting an appraisal showing the value has increased no longer is valid for helping to remove PMI insurance.
just got a FHA loan in June. Got a letter a the first of the year (required by law it said) that states that i must keep PMI for a minimum of 5 years, that it will automatically be removed once my scheduled payment hit the 78% threshold (as long as ii have good payment status) and that if i pay extra payments and hit the 78% threshold it was my responsibility to ask for the insurance to stop.
Also, getting an appraisal showing the value has increased no longer is valid for helping to remove PMI insurance.
0
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News