FHA Insurance Question

I’m getting mixed messages on how long one must continue to pay FHA mortgage “PMI”. I know that the property has to reach 78% LTV, but does it have to be after a minumim of 5 years of paying it? If, after one or two years, your equity reaches 78% (22%), after an appraisal is one eligible to stop paying the FHA-MI? thanks!

By annieny | 01/15/2010 10:45 AM