FHA 5 year PMI ruleI understand FHA requires PMI for at least 5 years if the down is less than 20%. What happens if one crosses that 20% threshold within the first year or two of the mortgage? I am applying for an FHA for a new house and my current house will be on the market in a few weeks. When my current house sells I am going to apply the equity to the mortgage of the new house which will put me at about 40% paid. Is there a concession for that situation? Thanks!October 15 2012 - Brunswick00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.