Question: can fha mip be cancelled?
Answer: It can be cancelled after the borrower's loan-to-value ratio reach 78%. FHA loan borrowers are required to pay an FHA mortgage insurance premium (MIP). Borrowers will have to pay a 1.75% upfront fee. ... Borrowers who put less than 10% down are required to pay FHA MIP for the life of the loan, with no option to cancel.