How To Cancel Your FHA Mortgage Insurance Premiums (MIP)

As compared to conforming loans and jumbo mortgages, Federal Housing Administration (FHA)-backed loans are popular for several reasons.

1. FHA allows a 3.5% downpayment 2. FHA allows refinances without appraisal 3. FHA mortgage rates are usually really low

Relative, though, one place where FHA mortgages can fall short is with respect to mortgage insurance.

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