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Updated over 4 years ago on . Most recent reply

Dov Klitnick's profile image
Dov Klitnick's profile image
Dov Klitnick
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  • from Brooklyn ny 11230
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Dov Klitnick's profile image
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Dov Klitnick
  • New to Real Estate
  • from Brooklyn ny 11230
  • Member since Dec 18, 2020
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Dov Klitnick
  • New to Real Estate
  • Brooklyn ny 11230
21
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General Landlording & Rental Properties

Is pmi on an fha lone for the hole lone term

Dov Klitnick
  • New to Real Estate
  • Brooklyn ny 11230
Posted

If I have an fha lone but I have 20% in Equity do I still have to switch to a Conventional loan to not pay PMI

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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
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Replied

@Steeve Gauthier @Dov Klitnick Ues, you have to refi into conventional. For an fha loan imitated after 2013...10% down or more, MIP is for 11 years. For less than 10% down, MIP is for the life of the loan, period.

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