8340 Mission Rd, Ste 240, Prairie Village, KS 66206

Do I have to pay a monthly PMI payment if my down payment is less than 20%?

VA loans: No. There is never PMI with a VA loan. Yes, VA loans are quite wonderful!

FHA loans: Yes. FHA loans do require a PMI payment until you refinance out of the loan or until it is paid off.

Conventional loans: We have several options for eliminating the monthly PMI payment on a conventional loan — even if you have less than 20% equity. Our “No Monthly PMI Conventional Loan” options are very popular. Call/text me at 913-735-5363 or email me at mbaker@fountainmortgage.com to find out more.

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