Was dead set on getting an FHA loan until my lender ran the numbers...

I spent months researching FHA loans because I thought the lower down payment was the only way to go, but my loan officer showed me a conventional loan would actually save me $150 a month with better PMI terms. Has anyone else realized they were assuming the wrong type of loan for their situation?

2 comments

2 Comments

viola1711mo ago

Heard FHA's mortgage insurance is for life now unless you refinance. That alone would make me reconsider.

rileyl671mo ago

Does that MIP ever drop off eventually or is it literally forever?