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.

FHA loans don't come with private mortgage insurance, but borrowers do have to mortgage insurance premiums (MIP), which are slightly different: You'll pay 1.75% of the loan balance up front and ...

All home buyers who use an FHA loan will need to pay mortgage insurance premiums, otherwise known as MIPs. These premiums insure lenders and guarantee they will be paid even if a borrower defaults ...

One particularly onerous expense is the lender-required mortgage insurance premium (MIP). If you have a home equity conversion mortgage (HECM)—which is backed by the federal government—then ...

Mortgage insurance is a type of insurance policy that protects the insurance lender in case the borrower defaults on payment, passes away, or is unable to fulfill the terms of the mortgage.

That way, you might end up qualifying for a conventional loan with significantly cheaper mortgage insurance thanks to your large down payment. Your debt-to-income ratio (DTI) is the monthly amount ...

Twenty-year mortgage terms and lower debt-to-income ratio would more responsibly support increased homeownership than many ...

Mortgage insurance is a fee you pay to your lender to cover risks associated with funding your loan. Different loan types have different kinds of mortgage insurance. Conventional mortgages have ...

FHA loans are subject to FHA mortgage insurance premiums (MIPs) paid for by the borrower, which we will cover more later. Look for lenders that offer the best combination of low interest rates and ...