Posted on: 21st Feb, 2011 07:53 am
Here is my scenario:
My home value was $103,000. Currently, my ending balance is $82,000. I have a FHA MIP and the loan is held by Bank of America. Do you know at what level of the actual balance I need to be to get the MIP canceled?
My home value was $103,000. Currently, my ending balance is $82,000. I have a FHA MIP and the loan is held by Bank of America. Do you know at what level of the actual balance I need to be to get the MIP canceled?
Welcome Guest,
When you have 22% equity in your property, you will be able to cancel the MIP.
When you have 22% equity in your property, you will be able to cancel the MIP.