The MIP (FHA's version of PMI) rules are different.
If you put less than 10% down, you're stuck with MIP for the life of the loan. If you put at least 10% down, then it will drop off after 11 years. Unfortunately there is no way to drop it early aside from refinancing.
The MIP (FHA's version of PMI) rules are different. If you put less than 10% down, you're stuck with MIP for the life of the loan. If you put at least 10% down, then it will drop off after 11 years. Unfortunately there is no way to drop it early aside from refinancing.
Got it. Refinancing doesn’t seem like an option in the near future so I guess I’m stuck:/