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Matthew Hall... Asked 1 more question
a year ago
My home value has risen enough within the last year to where what I owe is 80% of the current value of the home according to the county appraisal. I am still a long way off from 80% of the original purchase value. Is it possible to remove the MIP based on the current value of the home?
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Best Expert Answer
Bruce Reichstein... Answered 73 more questions
a year ago
FHA issued Mortgagee Letter 2013-04 on January 31st, 2013 clarifying cancellation of the Annual Mortgage Insurance Premium (MIP) for case numbers assigned on or after June 3rd, 2013.

On all loans terms - with loan to values less than or equal to 90%, the duration of the annual MIP is 11 years. For loan to values greater than 90%, the duration is the term of the loan.
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Best Expert
Linda B
18 days ago
My 30 year loan was taken i February, 2012. What are the rules for this? My home value is almost double what I purchased it for at that time. If I get it reappraised, can I remove the MIP? Do I have to refinance?
4 More Answers:
Category Expert
a year ago
To remove private mortgage insurance (PMI) that you pay on your mortgage loan, you must be up to date with your monthly payments.
Category Expert
x x
10 months ago
I currently have a 30yr refinanced FHA loan. I have reached 0.77% of the original purchase price. I still have 14 months of MIP of approximately $300.00 each. Is there anyway of getting out of the remainder of payments without doing a refi again?
Category Expert
jose villafana
5 months ago
Have a question I dis have an fha loan and I did a refinance on this year , I stay with the fha loan for a period of 3 years . I did a conventional refinance until I know I can qualify for a reimburse on the MIP it is true ? or it is nor available no more
Alexia Cartier
4 months ago
Hi, If you paid of your FHA mortgage, you maybe entitled to a portion of the MIP being refunded. Check this site for your name and then you can submit documents to get a portion of the MIP premium back. https://entp.hud.gov/dsrs/refunds/
Category Expert
Randy Holcomb
a month ago
I did a 30 year fha loan. then learn that the mip would not go away for 11 years. the loan was done in late 2013. I only owe 9 years left from paying extra. since I paid 21 years of payments in 4 years can I get the mip removed
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