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How long will I be required to have private mortgage insurance (PMI) and/or when may it be cancelled?

April 26, 2017cancelled PMI private mortgage insurance

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How long will I be required to have private mortgage insurance (PMI) and/or when may it be cancelled?

1 Answer

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10 Posted

The Homeowners Protection Act of 1998 allows customers whose loans originated after July 29, 1999, to request cancellation of PMI (not FHA insurance) at an 80% loan to value (LTV) ratio based on amortization or actual payments if the customer: