The CalPERS Member Home Loan Program requires mortgage insurance on conventional CalPERS financing above a 80 percent loan-to-value (LTV). If the LTV reaches 80 percent or below, the mortgage insurance on a conventional CalPERS loan may be cancelled (check with the lender receiving your payments for the procedure to cancel your mortgage insurance).
For FHA ARM financing mortgage insurance is always required, regardless of the LTV amount, and can not be cancelled.
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