Zillow Advice: Mortgage Types - New to Mortages http://www.zillow.com/advice-thread/New-to-Mortages/521004/ Zillow Advice | Zillow Real Estate HI Bulka14it's all depending ... http://www.zillow.com/advice-thread/New-to-Mortages/521004/ HI Bulka14<br/><br/>it's all depending on loans option,&nbsp;<br/>&nbsp;<br/>under&nbsp;conventional&nbsp;qualification&nbsp;you may select no mortgage&nbsp;insurance depending on credit and term.<br/><br/>in short there are many program and selection which you can avoid mortgage insurance .&nbsp;<br/><br/>good luck<br/><br/>Omar Khamisa<br/>&nbsp; Mon, 09 Dec 2013 01:43:00 GMT http://www.zillow.com/advice-thread/New-to-Mortages/521004/ 2013-12-09T01:43:00Z There are a fair amount of ... http://www.zillow.com/advice-thread/New-to-Mortages/521004/ There are a fair amount of variables to consider for your particular situation. I agree with the other posts in regard to FHA being lifetime, but there are conventional loans where you can avoid mortgage insurance with 10% down, and some with only 5% down. Like I said&nbsp; though, there are a fair amount of variables. Please contact me to review the possibililtes.<br/>I'm here to help,<br/>Paul Sun, 08 Dec 2013 20:26:00 GMT http://www.zillow.com/advice-thread/New-to-Mortages/521004/ 2013-12-08T20:26:00Z FHA started the life of loan ... http://www.zillow.com/advice-thread/New-to-Mortages/521004/ FHA started the life of loan mortgage insurance this year.&nbsp; Sun, 08 Dec 2013 04:31:00 GMT http://www.zillow.com/advice-thread/New-to-Mortages/521004/ 2013-12-08T04:31:00Z Great question! As of this ... http://www.zillow.com/advice-thread/New-to-Mortages/521004/ Great question! As of this year FHA made mortgage insurance mandatory for all loans no matter how much equity the borrower possesses. Conventional financing on the other hand only requires mortgage insurance when financing over 80% of the properties appraised value. If mortgage insurance was obtained through conventional financing it can later be removed once 20% equity or more can be documented. And through VA mortgage insurance is not required. <br/><br/>Please let me know if you have any additional questions. Sat, 07 Dec 2013 19:25:00 GMT http://www.zillow.com/advice-thread/New-to-Mortages/521004/ 2013-12-07T19:25:00Z There are loans where mortgage ... http://www.zillow.com/advice-thread/New-to-Mortages/521004/ There are loans where mortgage insurance falls off after you have a certain amount of equity in your home and there are other loans that have mortgage insurance that exists throughout the life of the loan. It depends and we would need more detail from you. One way to get out of this if you already have this problem is to refinance. If you still have more questions it would be best for you to speak with a lender directly about your situation. If you have any further questions or would like a loan, feel free to contact me. I hope this helps and good luck! Fri, 06 Dec 2013 22:47:00 GMT http://www.zillow.com/advice-thread/New-to-Mortages/521004/ 2013-12-06T22:47:00Z there are too many variables ... http://www.zillow.com/advice-thread/New-to-Mortages/521004/ there are too many variables in the answer to your question to&nbsp; be accurate answering it ......need to know what type of loan program you are&nbsp; asking about ?&nbsp; and what original&nbsp; loan to value is??&nbsp; thanks Fri, 06 Dec 2013 22:01:00 GMT http://www.zillow.com/advice-thread/New-to-Mortages/521004/ 2013-12-06T22:01:00Z FHA loans, that are over ... http://www.zillow.com/advice-thread/New-to-Mortages/521004/ FHA loans, that are over 15 year term, and have less than 10% down payment, have monthly insurance premiums for the life of the loan. The soonest any FHA loan will drop MIP is after 11 years of payments.<br/><br/>Conventional loans still have rules that require PMI to be removed if loan reaches 78% LTV, and you can attempt to have PMI removed if you think you've reached a 20% equity position.<br/><br/>You can avoid PMI by putting 20% down, or by using a product like a VA loan, a HomePath loan, or a USDA loan. Fri, 06 Dec 2013 21:52:00 GMT http://www.zillow.com/advice-thread/New-to-Mortages/521004/ 2013-12-06T21:52:00Z