What lenders do NOT require PMI on an FHA mortgage?

Posted on Aug 25, 2012 in FHA Information

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Best answer:

Answer by Hoopfan
Its a home loan that is guaranteed by the federal government. The main benefits are that it only requires a 3.5% down payment, discount and the credit standards are more leniant (only a 620 FICO score needed in most cases) than a convential loan.

FHA loans are not limited to first time buyers.

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Question by chopstic: What lenders do NOT require PMI on an FHA mortgage?
I’ve been working with Key Bank, treat that offers 30 year FHA mortgages with no PMI, this web but I’d like to know what other banks offer similar programs. The only other one I’ve found are salliemae homepath mortgages, viagra but they are restricted to certain homes (most of which I don’t like). a Google search turns up too much irreleveant info on the subject. Anyone know of any good non-PMI FHA mortgages?

Best answer:

Answer by Huntsman
Law requires PMI on any mortgage under 20% down
There has to be a trick – is the PMI just hidden in the mortgage price?
This is not the real Key bank you are working with.
Could you put a link of where you see this info?

Maybe it’s no closing costs?
You need to put a link – pronto – you may have hit a scam site

Add your own answer in the comments!

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One Comment

  1. An FHA mortgage is through HUD (Housing/Urban Development). Sorry, but you will be charged PMI with any HUD loan regardless of if you put down 20 percent, or higher. Best bet is improve your credit and come up with the down payment and look at standard mortgage products.