Does MIP cancel automatically for FHA or do we need to request it?

NO it does not. You will need to refinance out of the FHA loan. I hope this helps. I am local if you have any questions and I own the company. Take care,Kyle Stancato 253.460.6000. Bayview Home Loans

Hi Jerry, FHA mortgage insurance it assessed to each loan for a specific amount of month at the beginning of the loan. If you look through your closing documents you will see a form titled 92900. On this form in the top right hand corner there is a box that will tell you exactly how long the monthly MI is on your loan. FHA MI does cancel automatically. But I'd also recommended keeping an eye out on that date to ensure. Hope that helps! If you have any other questions feel free to reach me @ 866-640-5513 or jarred@betterfinancing.net

The annual MIP for an FHA Insured Home Loan may or may not fall off automatically depending on the origination of the FHA Case Number assigned to your loan. Ask the mortgage professional who helped you during the home loan process to review your closing paperwork to confirm yes or no.