How long do you need mortgage insurance??

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asked Jun 26, 2018 in Real Estate - Renting by Zukeme (300 points)
How long do you need mortgage insurance?

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answered Jun 26, 2018 by Niko (18,430 points)
If you've put more than 10% down when getting the mortgage then after 11 years you can get rid of the mortgage insurance.

If you didn't put more than 10% down on the mortgage then you'll have to keep the mortgage insurance on the mortgage until you've paid from 78% to 80% of the mortgage balance off before removing the mortgage insurance.

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