MIP Cancellation: Simple tips to eliminate FHA Mortgage Insurance in 2017

MIP Cancellation: Simple tips to eliminate FHA Mortgage Insurance in 2017

Within the full years, we now have gotten lots of questions about canceling home loan insurance coverage on FHA loans. Individuals wish to know: just how do i cancel the annual MIP attached to my FHA loan? Just how long before I’m able to eliminate this insurance premium that is extra? Could it be also feasible? Here’s what you ought to understand.

Present policy for 2017: Many borrowers whom utilize FHA loans in 2017 will need to spend the mortgage that is annual premium (MIP) for the life of the mortgage, or as much as three decades. Continue reading “MIP Cancellation: Simple tips to eliminate FHA Mortgage Insurance in 2017”