Is there a way to avoid FHA PMI on a 15-year FRM?
Yes. If your loan-to-value (LTV) is 78% or less, you are not charged for Annual MIP on a FHA 15 year FRM. If your LTV is greater than 78% but below 89.99%, you will have a reduced Annual MIP. FHA still requires you to pay the UFMIP (Upfront Mortgage Insurance Premium), however it is a reduced rate of 1%...