Dropping FHA mortgage insurance: wait it out, or refinance out
HUD and consumer sources
Crossroads answer
FHA Refi Crossroads summarizes HUD's handbook and mortgagee letters and CFPB guidance on mortgage insurance. It is not a government website.
Last reviewed against the primary sources listed below.
Updates
HUD changes premiums by mortgagee letter; the date at the top shows our last comparison.
HUD and consumer sources
- HUD Single Family Housing Policy Handbook 4000.1
- HUD Mortgagee Letter 2023-05: Reduction of FHA annual mortgage insurance premium rates
- HUD FHA Resource Center: answers to common questions
- HUD: Let FHA loans help you
- CFPB: FHA loans
- CFPB: What is mortgage insurance and how does it work?
- CFPB: Conventional loans
- CFPB: What is private mortgage insurance?
- CFPB: When can I remove private mortgage insurance from my loan?
- CFPB: What is a loan-to-value ratio and how does it relate to my costs?
- CFPB: Loan Estimate explainer
- CFPB: What is a Loan Estimate?
- CFPB: What is a Closing Disclosure?
- CFPB: What's the difference between a mortgage lender and a mortgage servicer?
- CFPB: Do I have the right to receive a copy of my home appraisal?