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Frequently Asked Questions

How long do I have to pay mortgage insurance for FHA loans?

FHA loans require two forms of mortgage insurance premiums: a one-time upfront fee, and an annual fee that is paid every month.

Depending on the down payment, loan term and when the loan was originated, you may be able to cancel your annual mortgage insurance premium.

For FHA loans originated before June 3, 2013, MIP can be canceled at 78 percent LTV or after 5 years, depending on your down payment amount and loan term. For FHA loans originated after June 3, 2013, MIP will either be paid for the life of the loan or canceled after 11 years, depending on your down payment amount and loan term.

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