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<blockquote data-quote="Faceplanted" data-source="post: 2150766" data-attributes="member: 56697"><p>I had a fha loan on my first house prior to the pmi change and it was just as good as a conventional loan. There is still nothing wrong with them. They are great for first time buyers. </p><p></p><p>My current house I got a conventional loan due to it being a second house, still have to pay pmi until 1/3rd of your appraisal is paid off, than you can get the pmi removed. In my instance my pmi is 100 a month which is a bit more than 5% of my mortgage payment.</p></blockquote><p></p>
[QUOTE="Faceplanted, post: 2150766, member: 56697"] I had a fha loan on my first house prior to the pmi change and it was just as good as a conventional loan. There is still nothing wrong with them. They are great for first time buyers. My current house I got a conventional loan due to it being a second house, still have to pay pmi until 1/3rd of your appraisal is paid off, than you can get the pmi removed. In my instance my pmi is 100 a month which is a bit more than 5% of my mortgage payment. [/QUOTE]
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