how to get rid of pmi on fha loan

So, to answer this question "how to get rid of FHA PMI", a borrower must have one of the following scenarios: Put down 10% or more on an FHA purchase – 11 years Borrow 90% or less on an FHA refinance – 11 years

How to Get a No PMI Mortgage Loan Now. One of the frequently necessary evils of getting a home loan today is having to pay PMI, or private mortgage insurance, as part of your home loan.

Get rid of FHA mortgage insurance today with a loan that doesn’t require PMI If your home has about 20% equity based on today’s value, you can cancel your FHA mortgage insurance using a conventional refinance, often within 30 days, and you can start here today by completing a short online form. You might have more equity than you think.