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Can mortgage insurance come off of an FHA loan?

Posted by on April 16th, 2011

If you pay down 20% of the principal balance on an FHA loan, can the mortgage insurance come off?

No, unless you've had the loan at least 5 years. but remember it's 20% of the value of the house, not the balance. Many values have dropped the last few years.

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Posted in Mortgage Insurance

Tags: fha loan, insurance, mortgage insurance, principal balance

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4 Responses to “Can mortgage insurance come off of an FHA loan?”

spiken_ken says:
May 30, 2011 at 11:31 am
How do you show mortgage insurance on a GFE? - find it here ...
Jammieexvwn says:
June 1, 2011 at 9:44 am
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"real estate" OR mortgage OR foreclosure OR foreclosures OR "short sale" OR "short sales" OR #realestate - Twitter Search says:
June 2, 2011 at 8:15 am
What is PMI? Private mortgage insurance is often required by lenders when you make a down payment less than 20% of the price of the home.
FE Investegate.co.uk Company Announcements says:
August 22, 2011 at 1:33 pm
Home Loan Refinancing And Applying Cash A To Mortgage Principal Balance ...