If you refinance your home into FHA loan and own 20% equity do you still obligation monthly mortgage insurance?

Answers: With FHA, YES.

FHA requires PMI for the first 5 years on EVERY loan....to be precise what makes it different from other loan programs.

However, my question for you is: If you own 20% down, then why are you going FHA at all? Source(s): former FHA underwriter
Typically, no. PMI usually is not required if you have equity at 20% or highly developed. The problem is that right now the value of your home may not be what you deem it is. Lenders and appraisers are being a lot more conservative. Good luck to you.
No
given the equity within your home is at 20% then yes you can re fi your loan. However, you may not need to settle the costs of the re fi by just going to the note holder and drop the mortgage ins.
FHA always requires PMI even at 80% LTV, but its not a bad price to reimburse to get interest rates in the low 5s beside cash out and lower credit scores. Source(s): Writes FHA mortgages on a day by day basis

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