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PMI - Private Mortgage Insurance
Cactus Flower posted a topic in MortgagesIs it true that starting this month (June) -- any FHA loans that are required to carry PMI - it will be for the life of the loan and will no longer drop off when there is enough equity in the home? That will mean 20% for everyone (new loans? refinancing? both?) down or 20% (or higher?) equity in your home to avoid it.