How do I get rid of FHA mortgage insurance?

Answered by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker

On most modern FHA loans the annual premium stays for the life of the loan, so the standard way to remove it is to refinance into a conventional loan once you have 20% equity.

Given Florida's appreciation, many owners reach 20% equity within a few years and refinance out. We'll watch your equity and run the refinance the moment it saves money.