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Removal of the mip insurance
asked Aug 10, 2018 in FHA Loans by Victor

1 Answer

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It is based on the price you paid when you received the loan and the loan balance reaches the threshold.  For example, you purchase the home for $200,000 and the loan amount at closing was $190,000 the MIP removal will occur when the loan balance reaches $156,000. Hope this helps.

~Quiana M. Williams
PH: (760)440-8844
E: Quiana@usa-mortgage.com
answered Aug 10, 2018 by QuianaWilliams (11,350 points)

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