What would happen when the loan was originated before April 1, 2013? Could be cancelled at 78% LTV or not?

Hi Escudera0770918,The cancelation of Mortgage Insurance depends on the type of Mortgage Insurance you are paying.If it is PMI or Private Mortgage Insurance the closing documentation will state the cancelation date based on the amortization schedule.If you are using an FHA loan there is a specific Schedule that is also going to be shown in the documents you signed at closing. You can always call your current servicer to confirm if yours will be canceled or not based on its origination date.The Cutoff Date for permanent Mortgage insurance being placed on FHA loan was June 1st 2013. Here is an article from the Washington Post with more information.http://www.washingtonpost.com/realestate/fha-raises-fees-and-insurance-premiums-for-mortgages-with-low-down-payments/2013/02/07/b9609794-6f11-11e2-8b8d-e0b59a1b8e2a_story.htmlHope this helps Ron

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