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Can the mortgage insurance premium be discontinued on an FHA loan?

April 26, 2017discontinued FHA loan mortgage insurance Premium

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Can the mortgage insurance premium be discontinued on an FHA loan?

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If you have an FHA-insured mortgage, your mortgage insurance is a legal agreement between FHA and your lender. As of January 2001, newly FHA-insured mortgages may have premium-discontinuance options that you will want to understand. Carefully read FHA Mortgagee Letters 00-38 and 00-46 so that you are aware of these options when you ask your lender to discontinue the mortgage insurance.