are there any type of fha mortgage with no PMI?

Hey Mike,Unfortunately all FHA loans carry PMI. There are lower monthly premiums if you choose a 15 year fha. If you are a Veteran you van go VA as well with no PMI. I'm a local mortgage company here in NJ call me @ 908-516-2190 or e-mail carlos@keypointmtg.com anytime with questions.

All FHA loans carry PMI, called Mutual Mortgage Insurance.

FHA will always have a mortgage insurance premium. There are some conventional mortgage options with as little as 5% down where you can buy out of the mortgage insurance or have the seller buy it out for you. Call me to discuss these options. Joseph S. CordovaNMLS # 146855(856) 304-2381jcordova@eveshammortgage.comwww.joecordova.com

Hi Mike, unfortunately no. FHA does require it. However, there are some other conventional programs that you may want to look at that do have options to have no MI with as little as 5% down. If you wait a month, Fannie Mae is bring back the 3% down program and dome mortgage insurance companies will allow you to buy out of the MI. Talk with a local loan officer to find out what your options are. Best wishes, Sean