will a 20% down payment for fha mean no mortgage insurance?

It will not. Mortgage insurance on an FHA loan will be there for the life of the loan, regardless of the down payment.

No you will be required to pay mortgage insurance for the life of your FHA loan no matter what your LTV is.

No, FHA has life of loan mortgage insurance, even with a larger down payment. You may want to consider a conventional loan, if your credit and income meet the requirements.

Unfortunately FHA will always carry MI. We are located here in Myrtle Beach, give us a call to discuss your scenario and we would be more than happy to go over some options we offer. www.schomeloan.org or 843-215-6200

FHA loan will always have mortgage insurance for the life of the loan but Conventional requires no insurance with 20% or more down.

You will still have mortgage insurance. If it is a 30 yr fixed mortgage; you will have monthly mortgage insurance for the life of the loan which means as long you do not sell or refinance out of FHA. Depending on the loan to value and loan amount; the monthly % factor will vary from 1.3% to 1.5%.If it is a 15 yr fixed; the monthly will vary from . 45% to .95%.Conventional Mortgages do not require any form of private mortgage insurance when there is 20% down payment or equity.Lending Nationwide. VA, FHA, USDA, FNMA, FMAC, Reverse, Commercial, SBA, Jumbo. 877 890 3892 / john.bates@cbcnationalbank.com

Previous answers are not entirely accurate. FHA loans do carry Mortgage Insurance regardless of how much money you put down. However, if you put down more than 5% the amount is slightly smaller. AND if you put down at least 10%, it will drop off after 11 years of paying it. Make sure that you speak with an experienced lender regarding your financing. A good lender should understand and offer a variety of programs for you and be able to explain the details and pros and cons of each. I'm happy to help with the financing or just give you advice. If you need more information, or a competing rate quote call, email or use my live support button to discuss or get in touch with me. Web Address for live chat or quote is: http://www.loansfromrob.com/quote/ Email is robertlh66@verizon.net and direct phone is 240-752-7549. Good Luck -- Rob Hanson

If you have 20% as a downpayment and at least a 620 score you'll likely be MUCH be better off with a conventional loan. I can help and I'm right down the road in Charleston. pdumouchel@primelending.com