[lorraine67]

Originally Posted by poundwise

FHA loans do not have PMI. At least, not exactly. They have MMI.

MMI stands for mutual mortgage insurance. It is dropped after a certain percentage, around 20%, if other conditions are met as well.

Article: Bankrate.com - For FHA mortgages, it's PMI by another name

This is what I have heard also...just wanted to be sure it was correct.

Thanks!!