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re: PMI Question
Posted on 4/9/19 at 4:27 pm to LSUTigers00884
Posted on 4/9/19 at 4:27 pm to LSUTigers00884
FHA Rules
quote:
You can remove PMI after 11 years if you put more than 10% down. The FHA no longer allows borrowers to cancel FHA MIP after the LTV has reached 78%. You can still avoid paying mortgage insurance after you have paid down your loan-to-value to 80% or less, such as refinancing your FHA loan to a conventional loan.
1
Posted on 4/14/19 at 3:00 am to VABuckeye
We built a house in BR late 2017 and I want to say we didn’t put anything down. I was told the only way to get rid of PMI is to sell or refinance and you should only refinance if you get a better rate than you currently have.
This post was edited on 4/14/19 at 3:00 am
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