Starting Today FHA Mortgage Insurance Cancellation Terms Change for the Worse

Starting today, FHA borrowers who put less than 10% down will not be able to cancel their monthly MI payment. Borrowers should compare that to "borrower-paid Monthly MI", where MI can be cancelled at the borrower's request when the loan reaches 80% LTV based on original or new appraised value or is automatically cancelled once it reaches 78% of original value.