Federal law requires a lender to cancel private mortgage insurance (PMI) on conventional loans when a mortgage term is at its halfway point, or when the mortgage balance drops to 78 percent of the ...
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How to remove mortgage insurance on an FHA loan
If you got your FHA loan after the year 2000, you may be able to cancel your FHA mortgage insurance. If you got your loan before 2000, you’ll continue to pay the premiums in most cases. If your loan ...
A homebuyer might pay private mortgage insurance depending on the size of their down payment. PMI differs from mortgage insurance a borrower would pay if they use an FHA loan. Buying or selling a home ...
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